WBAG:CARR

Stock Analysis Report

Executive Summary

Carrefour SA operates stores in various formats and channels in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, China, and Taiwan.


Snowflake Analysis

Fair value with moderate growth potential.


Similar Companies

Share Price & News

How has Carrefour's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CARR has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.1%

CARR

2.1%

AT Consumer Retailing

0.1%

AT Market


1 Year Return

-10.2%

CARR

1.8%

AT Consumer Retailing

4.3%

AT Market

Return vs Industry: CARR underperformed the Austrian Consumer Retailing industry which returned 1.8% over the past year.

Return vs Market: CARR underperformed the Austrian Market which returned 4.3% over the past year.


Shareholder returns

CARRIndustryMarket
7 Day2.1%2.1%0.1%
30 Day9.1%2.0%-0.3%
90 Day4.0%2.1%0.2%
1 Year-7.8%-10.2%5.9%1.8%8.1%4.3%
3 Yearn/a6.8%-3.9%25.9%14.5%
5 Yearn/a10.5%-6.4%53.9%32.6%

Price Volatility Vs. Market

How volatile is Carrefour's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Carrefour undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CARR (€16.37) is trading below our estimate of fair value (€33.34)

Significantly Below Fair Value: CARR is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CARR is unprofitable, so we can't compare its PE Ratio to the Consumer Retailing industry average.

PE vs Market: CARR is unprofitable, so we can't compare its PE Ratio to the Austrian market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate CARR's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: CARR is good value based on its PB Ratio (1.5x) compared to the XE Consumer Retailing industry average (1.6x).


Next Steps

Future Growth

How is Carrefour forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

62.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CARR is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (-0.1%).

Earnings vs Market: CARR is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: CARR's is expected to become profitable in the next 3 years.

Revenue vs Market: CARR's revenue (2.2% per year) is forecast to grow slower than the Austrian market (2.7% per year).

High Growth Revenue: CARR's revenue (2.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CARR's Return on Equity is forecast to be low in 3 years time (10.6%).


Next Steps

Past Performance

How has Carrefour performed over the past 5 years?

-50.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CARR is currently unprofitable.

Growing Profit Margin: CARR is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CARR is unprofitable, and losses have increased over the past 5 years at a rate of -50.1% per year.

Accelerating Growth: Unable to compare CARR's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CARR is unprofitable, making it difficult to compare its past year earnings growth to the Consumer Retailing industry (-0.7%).


Return on Equity

High ROE: CARR has a negative Return on Equity (0.95%), as it is currently unprofitable.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Carrefour's financial position?


Financial Position Analysis

Short Term Liabilities: CARR's short term assets (€18.8B) do not cover its short term liabilities (€23.9B).

Long Term Liabilities: CARR's short term assets (€18.8B) exceed its long term liabilities (€16.2B).


Debt to Equity History and Analysis

Debt Level: CARR's debt to equity ratio (131.2%) is considered high.

Reducing Debt: CARR's debt to equity ratio has reduced from 164.6% to 131.2% over the past 5 years.


Balance Sheet

Inventory Level: CARR has a high level of physical assets or inventory.

Debt Coverage by Assets: CARR's debt is covered by short term assets (assets are 1.4x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CARR has been profitable on average in the past, therefore cash runway is not a concern.

Forecast Cash Runway: CARR has been profitable on average in the past, therefore cash runway is not a concern.


Next Steps

Dividend

What is Carrefour's current dividend yield, its reliability and sustainability?

2.86%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CARR's dividend (2.82%) is higher than the bottom 25% of dividend payers in the Austrian market (1.58%).

High Dividend: CARR's dividend (2.82%) is low compared to the top 25% of dividend payers in the Austrian market (4.47%).


Stability and Growth of Payments

Stable Dividend: CARR's dividend payments have been volatile in the past 10 years.

Growing Dividend: CARR's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: CARR is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: CARR's dividends in 3 years are forecast to be well covered by earnings (39% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure


CEO

Alexandre Bompard (47yo)

2.6yrs

Tenure

€7,305,055

Compensation

Mr. Alexandre Bompard has been the Chairman and Chief Executive Officer at Carrefour SA July 18, 2017. Mr. Bompard has been Chief Executive Officer of the Fnac Darty group since July 20, 2016. Mr. Bompard  ...


CEO Compensation Analysis

Compensation vs Market: Alexandre's total compensation ($USD7.90M) is above average for companies of similar size in the Austrian market ($USD3.58M).

Compensation vs Earnings: Alexandre's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Alexandre Bompard
Chairman & CEO2.6yrs€7.31m0.013% 1.6m
Matthieu Malige
Chief Financial Officer2.3yrsno datano data
Dominique Benneteau-Wood
Executive Director of Communication for the Group & France1.5yrsno datano data
Jérôme Nanty
Executive Director of Human Resources and Assets for the Group & France2.3yrsno datano data
Juan Cubillo
Head of Food Marketing0yrsno datano data
Christophe Rabatel
Chief Executive Officer of Poland division1.5yrsno datano data
Laurent Vallée
General Secretary2.5yrsno datano data
Pierre-Jean Jerome Sivignon
Advisor to The CEO2.3yrs€775.56kno data

2.3yrs

Average Tenure

53yo

Average Age

Experienced Management: CARR's management team is considered experienced (2.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Alexandre Bompard
Chairman & CEO2.6yrs€7.31m0.013% 1.6m
Charles Edelstenne
Independent Director11.6yrs€53.57k0.00015% 19.5k
Nicolas Bazire
Non-Independent Director11.6yrs€75.24k0.00013% 16.9k
Philippe J. Houzé
Lead Director2.7yrs€115.00k0.00040% 52.1k
Abilio dos Santos Diniz
Director3.8yrs€53.57k0.00013% 16.9k
Jean-Laurent Bonnafe
Director11.6yrs€42.14k0.00013% 16.9k
Robert Halley
Honorary Chairman11.8yrs€82.50kno data
Patricia Lemoine
Director4.7yrs€53.57k0.00014% 18.2k
Mathilde Lemoine
Independent Director8.8yrs€55.00k0.00037% 48.2k
Stéphane Israël
Independent Director1.7yrs€13.10k0.00019% 24.7k

6.7yrs

Average Tenure

66yo

Average Age

Experienced Board: CARR's board of directors are considered experienced (6.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Carrefour SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Carrefour SA
  • Ticker: CARR
  • Exchange: WBAG
  • Founded: 1959
  • Industry: Hypermarkets and Super Centers
  • Sector: Consumer Retailing
  • Market Cap: €13.020b
  • Shares outstanding: 797.81m
  • Website: https://www.carrefour.com

Number of Employees


Location

  • Carrefour SA
  • 93, Avenue de Paris
  • Massy
  • Ile-de-France
  • 91300
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CRER.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJan 1992
CA NBMV (Bolsa Mexicana de Valores)YesCommon SharesMXMXNJan 1992
CAENXTPA (Euronext Paris)YesCommon SharesFREURJan 1992
CARDB (Deutsche Boerse AG)YesCommon SharesDEEURJan 1992
0NPHLSE (London Stock Exchange)YesCommon SharesGBEURJan 1992
CRRBIT (Borsa Italiana)YesCommon SharesITEURJan 1992
CARXTRA (XETRA Trading Platform)YesCommon SharesDEEURJan 1992
CAPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJan 1992
CARRWBAG (Wiener Boerse AG)YesCommon SharesATEURJan 1992
CASWX (SIX Swiss Exchange)YesCommon SharesCHCHFJan 1992
CRRF.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDApr 2003
CAR1DB (Deutsche Boerse AG)SPONSORED ADRDEEURApr 2003

Biography

Carrefour SA operates stores in various formats and channels in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, China, and Taiwan. The company operates hypermarkets, supermarkets, cash and carry stores, and hypercash stores; e-commerce sites and m-commerce channels; and service stations. Its stores offer fresh produce; local products; consumer goods; and non-food products, including small household goods, textiles, and home appliances. In addition, the company is involved in banking, insurance, property development, and franchise activities; the provision of travel agency services; and the rental of shopping malls. Carrefour SA was founded in 1959 and is headquartered in Massy, France. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/19 22:52
End of Day Share Price2020/02/19 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.