Cofinimmo
Market Cap
€3.4b
Last Updated
2019/12/11 21:35 UTC
Data Sources
Company Financials +
Executive Summary
Cofinimmo has been acquiring, developing and managing rental properties for over 35 years.
Rewards
Risk Analysis
Snowflake Analysis
Second-rate dividend payer with questionable track record.
Similar Companies
Share Price & News
How has Cofinimmo's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: COFB has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
-1.2%
COFB
0.3%
AT REITs
0.5%
AT Market
1 Year Return
17.7%
COFB
14.3%
AT REITs
6.8%
AT Market
Return vs Industry: COFB matched the Austrian REITs industry which returned 14.3% over the past year.
Return vs Market: COFB exceeded the Austrian Market which returned 6.8% over the past year.
Shareholder returns
| COFB | Industry | Market | |
|---|---|---|---|
| 7 Day | -1.2% | 0.3% | 0.5% |
| 30 Day | -2.7% | 0.6% | -2.1% |
| 90 Day | 3.0% | 7.8% | 1.2% |
| 1 Year | 19.7%17.7% | 20.4%14.3% | 10.7%6.8% |
| 3 Year | n/a | 35.7%16.5% | 37.4%25.0% |
| 5 Year | n/a | 56.7%23.0% | 76.7%52.1% |
Price Volatility Vs. Market
How volatile is Cofinimmo's share price compared to the market and industry in the last 5 years?
Simply Wall St News
No news available
Valuation
Is Cofinimmo undervalued compared to its fair value and its price relative to the market?
17.6%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: COFB (€130.6) is trading below our estimate of fair value (€158.41)
Significantly Below Fair Value: COFB is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: COFB is poor value based on its PE Ratio (23.1x) compared to the REITs industry average (14.1x).
PE vs Market: COFB is poor value based on its PE Ratio (23.1x) compared to the Austrian market (14.4x).
Price to Earnings Growth Ratio
PEG Ratio: COFB is poor value based on its PEG Ratio (2.1x)
Price to Book Ratio
PB vs Industry: COFB is overvalued based on its PB Ratio (1.4x) compared to the XE REITs industry average (1x).
Next Steps
Future Growth
How is Cofinimmo forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
10.8%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: COFB's forecast earnings growth (10.8% per year) is above the savings rate (-0.1%).
Earnings vs Market: COFB's earnings (10.8% per year) are forecast to grow faster than the Austrian market (9.1% per year).
High Growth Earnings: COFB's earnings are forecast to grow, but not significantly.
Revenue vs Market: COFB's revenue (0.3% per year) is forecast to grow slower than the Austrian market (2.7% per year).
High Growth Revenue: COFB's revenue (0.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: COFB's Return on Equity is forecast to be low in 3 years time (10.8%).
Next Steps
Past Performance
How has Cofinimmo performed over the past 5 years?
31.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: COFB has high quality earnings.
Growing Profit Margin: COFB's current net profit margins (48.3%) are lower than last year (71.6%).
Past Earnings Growth Analysis
Earnings Trend: COFB has become profitable over the past 5 years, growing earnings by 31.3% per year.
Accelerating Growth: COFB's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: COFB had negative earnings growth (-27.8%) over the past year, making it difficult to compare to the REITs industry average (13.6%).
Return on Equity
High ROE: COFB's Return on Equity (5.7%) is considered low.
Return on Assets
Return on Capital Employed
Next Steps
Financial Health
How is Cofinimmo's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Inventory Level: COFB has a high level of physical assets or inventory.
Debt Coverage by Assets: COFB's debt is not covered by short term assets (assets are 0.1x debt).
Financial Institutions Analysis
Asset Level: COFB's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if COFB has a sufficient allowance for bad loans.
Low Risk Liabilities: COFB reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if COFB has an acceptable proportion of non-loan assets held.
Low Risk Deposits: COFB has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if COFB has an appropriate level of bad loans.
Next Steps
Dividend
What is Cofinimmo's current dividend yield, its reliability and sustainability?
4.20%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: COFB's dividend (4.2%) is higher than the bottom 25% of dividend payers in the Austrian market (1.7%).
High Dividend: COFB's dividend (4.2%) is low compared to the top 25% of dividend payers in the Austrian market (4.33%).
Stability and Growth of Payments
Stable Dividend: COFB's dividend payments have been volatile in the past 10 years.
Growing Dividend: COFB's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (67.5%), COFB's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: COFB's dividends in 3 years are forecast to be thoroughly covered by earnings (3.1% payout ratio).
Next Steps
Management
What is the CEO of Cofinimmo's salary, the management and board of directors tenure and is there insider trading?
3.6yrs
Average board tenure
CEO
Jean-Pierre Hanin (53yo)
1.6yrs
Tenure
Mr. Jean-Pierre Hanin has been the Chief Executive Officer and a Director of Cofinimmo SA since May 9, 2018 and has been its Interim Chief Operating Officer since May 31, 2018 and serves as its Managing Di ...
Board Age and Tenure
3.6yrs
Average Tenure
57.5yo
Average Age
Experienced Board: COFB's board of directors are considered experienced (3.6 years average tenure).
Insider Trading
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 been diluted in the past year, with total shares outstanding growing by 9.3%.
Management Team
Jean Van Buggenhout
Head of Property Services & Corporate Social Responsibility
- Tenure: 0yrs
Domien Szekér
Head of Project Management
- Tenure: 0yrs
Françoise Roels (58yo)
Chief of Corporate Affairs
- Tenure: 12.7yrs
Dirk Huysmans
Head of Offices Belgium
- Tenure: 0yrs
Chantal Cabuy
Chief Human Resources Officer
- Tenure: 0yrs
Sébastien Berden
Chief Operating Officer of Healthcare
- Tenure: 0yrs
Pascale Minet
Head of Accounting
- Tenure: 0yrs
Jean Kotarakos (46yo)
CFO & Executive Director
- Tenure: 1.6yrs
Ellen Grauls
Head of External Communication & Investor Relations
- Tenure: 0yrs
Jean-Pierre Hanin (53yo)
Interim COO
- Tenure: 1.6yrs
Board Members
Jacques Rijckevorsel (69yo)
Independent Chairman of the Board
- Tenure: 2.6yrs
Xavier de Walque (54yo)
Independent Director
- Tenure: 10.7yrs
Françoise Roels (58yo)
Chief of Corporate Affairs
- Tenure: 12.7yrs
Olivier Chapelle (55yo)
Independent Director
- Tenure: 3.6yrs
Jean Kotarakos (46yo)
CFO & Executive Director
- Tenure: 1.6yrs
Maurice Gauchot (67yo)
Independent Director
- Tenure: 3.6yrs
Jean-Pierre Hanin (53yo)
Interim COO
- Tenure: 1.6yrs
Inès Archer-Toper (62yo)
Independent Director
- Tenure: 6.6yrs
Kathleen Van den Eynde (57yo)
Independent Director
- Tenure: 4.6yrs
Diana Monissen (64yo)
Independent Director
- Tenure: 3.6yrs
Company Information
Cofinimmo SA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Cofinimmo SA
- Ticker: COFB
- Exchange: WBAG
- Founded: 1983
- Industry: Diversified REITs
- Sector: Real Estate
- Market Cap: €3.374b
- Shares outstanding: 25.80m
- Website: https://www.cofinimmo.com
Number of Employees
Location
- Cofinimmo SA
- Boulevard de la Woluwe 58
- Woluwe-Saint-Lambert
- Brussels
- Brussels
- 1200
- Belgium
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| COFB | ENXTBR (Euronext Brussels) | Yes | Ordinary Shares | BE | EUR | Dec 1994 |
| COF | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Dec 1994 |
| 0J3X | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Dec 1994 |
| COFBB | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Dec 1994 |
| COFB | WBAG (Wiener Boerse AG) | Yes | Ordinary Shares | AT | EUR | Dec 1994 |
Biography
Cofinimmo has been acquiring, developing and managing rental properties for over 35 years. The company has a portfolio spread across Belgium, France, the Netherlands and Germany, with a value of 4 billion ...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2019/12/11 21:35 |
| End of Day Share Price | 2019/12/11 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.