BOVESPA:CRFB3

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Atacadão S.A. engages in the wholesale and retail of food and other products in Brazil. More Details


Snowflake Analysis

Flawless balance sheet with solid track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: CRFB3 is less volatile than 75% of BR stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: CRFB3's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

-6.2%

CRFB3

-3.3%

BR Consumer Retailing

-2.6%

BR Market


1 Year Return

-19.5%

CRFB3

3.4%

BR Consumer Retailing

-2.2%

BR Market

Return vs Industry: CRFB3 underperformed the BR Consumer Retailing industry which returned 5% over the past year.

Return vs Market: CRFB3 underperformed the BR Market which returned -1.4% over the past year.


Shareholder returns

CRFB3IndustryMarket
7 Day-6.2%-3.3%-2.6%
30 Day-0.9%2.1%0.6%
90 Day-5.5%1.6%14.3%
1 Year-18.5%-19.5%6.1%3.4%0.4%-2.2%
3 Year24.2%18.3%27.8%18.8%47.3%31.4%
5 Yearn/a54.2%32.5%195.4%144.8%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

15.92x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: CRFB3 (R$19.04) is trading above our estimate of fair value (R$16.79)

Significantly Below Fair Value: CRFB3 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: CRFB3 is good value based on its PE Ratio (15.9x) compared to the BR Consumer Retailing industry average (42.5x).

PE vs Market: CRFB3 is good value based on its PE Ratio (15.9x) compared to the BR market (17.3x).


Price to Earnings Growth Ratio

PEG Ratio: CRFB3 is poor value based on its PEG Ratio (2x)


Price to Book Ratio

PB vs Industry: CRFB3's PB Ratio (2.6x) is in line with the BR Consumer Retailing industry average.


Next Steps

Future Growth

How is Atacadão forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

8.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CRFB3's forecast earnings growth (8.1% per year) is below the savings rate (9.9%).

Earnings vs Market: CRFB3's earnings (8.1% per year) are forecast to grow slower than the BR market (27.4% per year).

High Growth Earnings: CRFB3's earnings are forecast to grow, but not significantly.

Revenue vs Market: CRFB3's revenue (9% per year) is forecast to grow slower than the BR market (10.4% per year).

High Growth Revenue: CRFB3's revenue (9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CRFB3's Return on Equity is forecast to be low in 3 years time (15%).


Next Steps

Past Performance

How has Atacadão performed over the past 5 years?

8.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CRFB3 has high quality earnings.

Growing Profit Margin: CRFB3's current net profit margins (3.5%) are higher than last year (1.7%).


Past Earnings Growth Analysis

Earnings Trend: CRFB3's earnings have grown by 8.8% per year over the past 5 years.

Accelerating Growth: CRFB3's earnings growth over the past year (134.2%) exceeds its 5-year average (8.8% per year).

Earnings vs Industry: CRFB3 earnings growth over the past year (134.2%) exceeded the Consumer Retailing industry -8.4%.


Return on Equity

High ROE: CRFB3's Return on Equity (16.1%) is considered low.


Next Steps

Financial Health

How is Atacadão's financial position?


Financial Position Analysis

Short Term Liabilities: CRFB3's short term assets (R$22.4B) exceed its short term liabilities (R$20.1B).

Long Term Liabilities: CRFB3's short term assets (R$22.4B) exceed its long term liabilities (R$10.3B).


Debt to Equity History and Analysis

Debt Level: CRFB3's debt to equity ratio (38.7%) is considered satisfactory.

Reducing Debt: CRFB3's debt to equity ratio has reduced from 64.4% to 38.7% over the past 5 years.

Debt Coverage: CRFB3's debt is well covered by operating cash flow (36.7%).

Interest Coverage: CRFB3's interest payments on its debt are well covered by EBIT (10x coverage).


Balance Sheet


Next Steps

Dividend

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

1.28%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CRFB3's dividend (1.28%) is higher than the bottom 25% of dividend payers in the BR market (0.96%).

High Dividend: CRFB3's dividend (1.28%) is low compared to the top 25% of dividend payers in the BR market (5.13%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, CRFB3 has been paying a dividend for less than 10 years.

Growing Dividend: CRFB3's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (20.3%), CRFB3's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CRFB3's dividends in 3 years are forecast to be well covered by earnings (27.6% payout ratio).


Next Steps

Management

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

5.8yrs

Average management tenure


CEO

José Roberto Müssnich

no data

Tenure

Mr. José Roberto Meister Müssnich serves as the Chief Executive Officer at Atacadão S.A. and is its Member of the Executive Officers Board since November 19, 2014. Mr. Müssnich holds Degree and Masters’ De...


Leadership Team

NamePositionTenureCompensationOwnership
José Roberto Müssnich
CEO & Member of the Executive Officers Boardno datano datano data
Marco de Oliveira
Deputy CEO of Finance & Member of the Executive Officers Boardno datano datano data
Sébastien Durchon
Member of the Executive Officers Board5.75yrsno datano data
Charles André Desmartis
Member of the Executive Officers Board & Effective Independent Member of the Board of Directorsno datano datano data
Daniela Bretthauer
Director of Investor Relationsno datano datano data
Carlos Mauad
Chief Executive Officer of Carrefour Soluções Financeiras1.92yrsno datano data
José Gutierrez
Chief Executive Officer of Carrefour Retailno datano datano data
Paula Cardoso Florez Chaves
Executive Director of Clientsno datano datano data
Luis Moreno
Executive Director of Carrefour Varejono datano datano data
Natália Lacava
Investor Relations Directorno datano datano data

5.8yrs

Average Tenure

Experienced Management: CRFB3's management team is seasoned and experienced (5.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Charles André Desmartis
Member of the Executive Officers Board & Effective Independent Member of the Board of Directorsno datano datano data
Abilio dos Santos Diniz
Effective Member of the Board of Directors6.08yrsno datano data
Jacques Ehrmann
Effective Member of the Board of Directors6.08yrsno datano data
Francis André Mauger
Effective Member of the Board of Directors6.08yrsno datano data
Pierre-Jean Jerome Sivignon
Chairman of the Board of Directors6.08yrsno datano data
Luiz Fernando Fleury
Effective Independent Member of the Board of Directors3.58yrsno datano data
Marcelo Lacerda
Effective Independent Member of the Board of Directors4.58yrsno datano data
Franck Tassan
Vice Chairman of the Board of Directors6.08yrsno datano data
Vincent Abello
Effective Member of the Board of Directors6.08yrsno datano data
Eduardo Rossi
Effective Member of the Board of Directors6.08yrsno datano data

6.1yrs

Average Tenure

63yo

Average Age

Experienced Board: CRFB3's board of directors are considered experienced (6.1 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

Atacadão S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Atacadão S.A.
  • Ticker: CRFB3
  • Exchange: BOVESPA
  • Founded: 1962
  • Industry: Hypermarkets and Super Centers
  • Sector: Consumer Retailing
  • Market Cap: R$38.017b
  • Shares outstanding: 1.99b
  • Website: https://www.atacadao.com.br

Number of Employees


Location

  • Atacadão S.A.
  • Avenida Morvan Dias de Figueiredo
  • nº 6.169
  • São Paulo
  • São Paulo
  • 02170-901
  • Brazil

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CRFB3BOVESPA (Bolsa de Valores de Sao Paulo)YesCOMMON SHARESBRBRLJul 2017
ATAA.YOTCPK (Pink Sheets LLC)ADSUSUSDAug 2020

Biography

Atacadão S.A. engages in the wholesale and retail of food and other products in Brazil. The company operates through Retail, Cash & Carry, and Financial Solutions segments. It offers cold cuts and dairy pr...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/01/22 21:58
End of Day Share Price2021/01/22 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.