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COFB

CofinimmoENXTBR:COFB Stock Report

Market Cap

€4.4b

7D

4.5%

1Y

13.7%

Updated

16 Oct, 2021

Data

Company Financials +
COFB fundamental analysis
Snowflake Score
Valuation2/6
Future Growth3/6
Past Performance2/6
Financial Health1/6
Dividends3/6

COFB Overview

Cofinimmo has been acquiring, developing and managing rental properties for over 35 years.

Cofinimmo Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Cofinimmo
Historical stock prices
Current Share Price€138.70
52 Week High€114.40
52 Week Low€142.40
Beta0.46
1 Month Change3.43%
3 Month Change4.05%
1 Year Change13.69%
3 Year Change30.97%
5 Year Change28.78%
Change since IPO52.54%

Recent News & Updates

Shareholder Returns

COFBBE REITsBE Market
7D4.5%5.3%1.3%
1Y13.7%21.0%20.6%

Return vs Industry: COFB underperformed the Belgian REITs industry which returned 21% over the past year.

Return vs Market: COFB underperformed the Belgian Market which returned 20.6% over the past year.

Price Volatility

Is COFB's price volatile compared to industry and market?
COFB volatility
COFB Beta0.46
Industry Beta0.58
Market Beta1

Stable Share Price: COFB is less volatile than 75% of Belgian stocks over the past 3 months, typically moving +/- 2% a week.

Volatility Over Time: COFB's weekly volatility (2%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
1983145Jean-Pierre Haninhttps://www.cofinimmo.com

Cofinimmo has been acquiring, developing and managing rental properties for over 35 years. The company has a portfolio spread across Belgium, France, the Netherlands, Germany and Spain, with a value of approximately 4.5 billion EUR. With attention to social developments, Cofinimmo has the mission of making high-quality care, living and working environments available to its partners-tenants, from which users benefit directly.

Cofinimmo Fundamentals Summary

How do Cofinimmo's earnings and revenue compare to its market cap?
COFB fundamental statistics
Market Cap€4.39b
Earnings (TTM)€154.88m
Revenue (TTM)€311.93m

28.3x

P/E Ratio

14.1x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
COFB income statement (TTM)
Revenue€311.93m
Cost of Revenue€70.50m
Gross Profit€241.43m
Expenses€86.55m
Earnings€154.88m

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Oct 27, 2021

Earnings per share (EPS)4.89
Gross Margin77.40%
Net Profit Margin49.65%
Debt/Equity Ratio95.2%

How did COFB perform over the long term?

See historical performance and comparison

Dividends

4.2%

Current Dividend Yield

57%

Payout Ratio

Valuation

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

25.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: COFB (€138.7) is trading below our estimate of fair value (€187.04)

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


Price To Earnings Ratio

PE vs Industry: COFB is poor value based on its PE Ratio (28.3x) compared to the Belgian REITs industry average (11.8x).

PE vs Market: COFB is poor value based on its PE Ratio (28.3x) compared to the Belgian market (14.4x).


Price to Earnings Growth Ratio

PEG Ratio: COFB is poor value based on its PEG Ratio (1.9x)


Price to Book Ratio

PB vs Industry: COFB is overvalued based on its PB Ratio (1.5x) compared to the BE REITs industry average (1.2x).


Future Growth

How is Cofinimmo forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

14.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: COFB's forecast earnings growth (14.9% per year) is above the savings rate (1.2%).

Earnings vs Market: COFB's earnings (14.9% per year) are forecast to grow faster than the Belgian market (12.6% per year).

High Growth Earnings: COFB's earnings are forecast to grow, but not significantly.

Revenue vs Market: COFB's revenue (7.2% per year) is forecast to grow faster than the Belgian market (6.7% per year).

High Growth Revenue: COFB's revenue (7.2% 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 (8.2%).


Past Performance

How has Cofinimmo performed over the past 5 years?

8.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: COFB has high quality earnings.

Growing Profit Margin: COFB's current net profit margins (49.7%) are lower than last year (72.6%).


Past Earnings Growth Analysis

Earnings Trend: COFB's earnings have grown by 8.2% per year over the past 5 years.

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 (-19.9%) over the past year, making it difficult to compare to the REITs industry average (71.3%).


Return on Equity

High ROE: COFB's Return on Equity (5.3%) is considered low.


Financial Health

How is Cofinimmo's financial position?


Financial Position Analysis

Short Term Liabilities: COFB's short term assets (€263.9M) do not cover its short term liabilities (€1.4B).

Long Term Liabilities: COFB's short term assets (€263.9M) do not cover its long term liabilities (€1.6B).


Debt to Equity History and Analysis

Debt Level: COFB's debt to equity ratio (95.2%) is considered high.

Reducing Debt: COFB's debt to equity ratio has increased from 82.3% to 95.2% over the past 5 years.

Debt Coverage: COFB's debt is not well covered by operating cash flow (6.7%).

Interest Coverage: COFB's interest payments on its debt are well covered by EBIT (28x coverage).


Balance Sheet


Dividend

What is Cofinimmo current dividend yield, its reliability and sustainability?

4.18%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: COFB's dividend (4.18%) is higher than the bottom 25% of dividend payers in the Belgian market (1.49%).

High Dividend: COFB's dividend (4.18%) is low compared to the top 25% of dividend payers in the Belgian market (4.44%).


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 (57.4%), 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 covered by earnings (81.5% payout ratio).


Next Steps

Management

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

3.4yrs

Average management tenure


CEO

Jean-Pierre Hanin (55 yo)

3.42yrs

Tenure

€1,223,844

Compensation

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...


CEO Compensation Analysis

Compensation vs Market: Jean-Pierre's total compensation ($USD1.42M) is about average for companies of similar size in the Belgian market ($USD1.29M).

Compensation vs Earnings: Insufficient data to compare Jean-Pierre's compensation with company performance.


Leadership Team

Experienced Management: COFB's management team is considered experienced (3.4 years average tenure).


Board Members

Experienced Board: COFB's board of directors are considered experienced (5.4 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 been diluted in the past year, with total shares outstanding growing by 17.2%.


Top Shareholders

Company Information

Cofinimmo SA's employee growth, exchange listings and data sources


Key Information

  • Name: Cofinimmo SA
  • Ticker: COFB
  • Exchange: ENXTBR
  • Founded: 1983
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: €4.391b
  • Shares outstanding: 31.66m
  • Website: https://www.cofinimmo.com

Number of Employees


Location

  • Cofinimmo SA
  • Boulevard de la Woluwe 58
  • Woluwe-Saint-Lambert
  • Brussels
  • Brussels
  • 1200
  • Belgium

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/10/16 17:47
End of Day Share Price2021/10/15 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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.