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Latécoère

DB:12J
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
12J
DB
€362M
Market Cap
  1. Home
  2. DE
  3. Capital Goods
Company description

Latécoère S.A., together with its subsidiaries, designs, develops, manufactures, and supports aerostructures and interconnection systems in Europe, the United States, Asia, and internationally. The last earnings update was 91 days ago. More info.


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  • Latécoère has significant price volatility in the past 3 months.
12J Share Price and Events
7 Day Returns
0%
DB:12J
2.7%
Europe Aerospace & Defense
-1.1%
DE Market
1 Year Returns
-13.2%
DB:12J
7.2%
Europe Aerospace & Defense
-8.5%
DE Market
12J Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Latécoère (12J) 0% 20.4% 6.8% -13.2% 12.2% -
Europe Aerospace & Defense 2.7% 2.7% 4.6% 7.2% 74.7% 105.3%
DE Market -1.1% -0.4% -4% -8.5% 8.1% 9.4%
1 Year Return vs Industry and Market
  • 12J underperformed the Aerospace & Defense industry which returned 7.2% over the past year.
  • 12J underperformed the Market in Germany which returned -8.5% over the past year.
Price Volatility
12J
Industry
5yr Volatility vs Market

Value

 Is Latécoère undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Latécoère to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Latécoère.

DB:12J Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:12J
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.88
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.876 (1 + (1- 33%) (45.22%))
1.095
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.09
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.095 * 6.65%)
7.51%

Discounted Cash Flow Calculation for DB:12J using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Latécoère is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:12J DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.51%)
2020 24.13 Analyst x3 22.45
2021 35.60 Analyst x3 30.80
2022 45.20 Est @ 26.96% 36.37
2023 53.76 Est @ 18.94% 40.24
2024 60.92 Est @ 13.33% 42.42
2025 66.65 Est @ 9.4% 43.17
2026 71.08 Est @ 6.65% 42.82
2027 74.43 Est @ 4.72% 41.71
2028 76.95 Est @ 3.37% 40.11
2029 78.82 Est @ 2.43% 38.21
Present value of next 10 years cash flows €378.31
DB:12J DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €78.82 × (1 + 0.23%) ÷ (7.51% – 0.23%)
€1,085.13
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,085.13 ÷ (1 + 7.51%)10
€526.12
DB:12J Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €378.31 + €526.12
€904.43
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €904.43 / 94.82
€9.54
DB:12J Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:12J represents 0.99213x of ENXTPA:LAT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99213x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 9.54 x 0.99213
€9.46
Value per share (EUR) From above. €9.46
Current discount Discount to share price of €3.79
= -1 x (€3.79 - €9.46) / €9.46
60%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Latécoère is available for.
Intrinsic value
>50%
Share price is €3.79 vs Future cash flow value of €9.46
Current Discount Checks
For Latécoère to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Latécoère's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Latécoère's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Latécoère's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Latécoère's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:12J PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.06
ENXTPA:LAT Share Price ** ENXTPA (2019-07-19) in EUR €3.82
Europe Aerospace & Defense Industry PE Ratio Median Figure of 35 Publicly-Listed Aerospace & Defense Companies 22.46x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 19.67x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Latécoère.

DB:12J PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:LAT Share Price ÷ EPS (both in EUR)

= 3.82 ÷ 0.06

60.06x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Latécoère is overvalued based on earnings compared to the Europe Aerospace & Defense industry average.
  • Latécoère is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Latécoère's expected growth come at a high price?
Raw Data
DB:12J PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 60.06x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
45%per year
Europe Aerospace & Defense Industry PEG Ratio Median Figure of 29 Publicly-Listed Aerospace & Defense Companies 1.52x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.44x

*Line of best fit is calculated by linear regression .

DB:12J PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 60.06x ÷ 45%

1.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Latécoère is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Latécoère's assets?
Raw Data
DB:12J PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €2.77
ENXTPA:LAT Share Price * ENXTPA (2019-07-19) in EUR €3.82
Europe Aerospace & Defense Industry PB Ratio Median Figure of 46 Publicly-Listed Aerospace & Defense Companies 1.96x
Germany Market PB Ratio Median Figure of 570 Publicly-Listed Companies 1.73x
DB:12J PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:LAT Share Price ÷ Book Value per Share (both in EUR)

= 3.82 ÷ 2.77

1.38x

* Primary Listing of Latécoère.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Latécoère is good value based on assets compared to the Europe Aerospace & Defense industry average.
X
Value checks
We assess Latécoère's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Latécoère has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Latécoère expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
45%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Latécoère expected to grow at an attractive rate?
  • Latécoère's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Latécoère's earnings growth is expected to exceed the Germany market average.
  • Latécoère's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:12J Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:12J Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 45%
DB:12J Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 2.7%
Europe Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
Europe Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 4.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.8%
Germany Market Revenue Growth Rate Market Cap Weighted Average 5.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:12J Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:12J Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 720 61 36 3
2020-12-31 694 56 27 4
2019-12-31 680 42 19 4
DB:12J Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 662 -22 6
2018-09-30 646 -6 2
2018-06-30 624 3 -32
2018-03-31 639 29 -14
2017-12-31 659 61 34
2017-09-30 661 50 47
2017-06-30 664 39 60
2017-03-31 660 34 32
2016-12-31 656 30 4
2016-09-30 653 17 -5
2016-06-30 651 4 -14
2016-03-31 637 1 -8

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Latécoère's earnings are expected to grow significantly at over 20% yearly.
  • Latécoère's revenue is expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:12J Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Latécoère Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:12J Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.38 0.48 0.31 3.00
2020-12-31 0.29 0.45 0.19 4.00
2019-12-31 0.15 0.25 0.00 4.00
DB:12J Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.06
2018-09-30 0.02
2018-06-30 -0.33
2018-03-31 -0.15
2017-12-31 0.35
2017-09-30 0.49
2017-06-30 0.63
2017-03-31 0.34
2016-12-31 0.04
2016-09-30 -0.06
2016-06-30 -0.18
2016-03-31 -0.13

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Latécoère is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Latécoère's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Latécoère has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Latécoère performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Latécoère's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Latécoère has delivered over 20% year on year earnings growth in the past 5 years.
  • Latécoère's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Latécoère's 1-year earnings growth is negative, it can't be compared to the Europe Aerospace & Defense industry average.
Earnings and Revenue History
Latécoère's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Latécoère Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:12J Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 662.10 6.01 182.48
2018-09-30 645.74 2.12 178.34
2018-06-30 624.45 -31.98 174.20
2018-03-31 639.11 -14.24 177.09
2017-12-31 658.69 33.69 179.97
2017-09-30 661.12 46.89 181.40
2017-06-30 663.55 60.10 182.82
2017-03-31 659.54 31.87 179.27
2016-12-31 655.53 3.65 175.72
2016-09-30 653.48 -5.08 176.63
2016-06-30 651.44 -13.80 177.53
2016-03-31 637.40 -7.66 179.55
2015-12-31 623.36 -1.52 181.57
2015-09-30 640.53 -5.80 196.10
2015-06-30 657.69 -10.08 210.64
2015-03-31 661.28 -4.97 224.38
2014-12-31 664.87 0.14 238.12
2014-09-30 648.87 -38.00 241.48
2014-06-30 632.88 -76.13 244.85
2014-03-31 627.35 -77.61 249.73
2013-12-31 621.83 -79.08 254.62
2013-09-30 612.00 -39.05 249.21
2013-06-30 602.17 0.98 243.79
2013-03-31 623.38 2.05 234.94
2012-12-31 644.58 3.12 226.08
2012-09-30 628.71 -1.12 218.74

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Latécoère has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Latécoère used its assets less efficiently than the Europe Aerospace & Defense industry average last year based on Return on Assets.
  • Latécoère has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Latécoère's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Latécoère has a total score of 2/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Latécoère's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Latécoère's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Latécoère is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Latécoère's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Latécoère's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 3.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Latécoère Company Filings, last reported 6 months ago.

DB:12J Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 262.57 152.64 112.22
2018-09-30 262.57 152.64 112.22
2018-06-30 275.21 179.28 120.12
2018-03-31 275.21 179.28 120.12
2017-12-31 294.57 167.27 141.99
2017-09-30 294.57 167.27 141.99
2017-06-30 437.33 182.85 146.98
2017-03-31 437.33 182.85 146.98
2016-12-31 399.63 188.94 147.44
2016-09-30 399.63 188.94 147.44
2016-06-30 381.99 208.57 97.90
2016-03-31 381.99 208.57 97.90
2015-12-31 388.91 193.34 90.37
2015-09-30 388.91 193.34 90.37
2015-06-30 103.94 374.13 24.38
2015-03-31 103.94 374.13 24.38
2014-12-31 112.13 380.04 33.37
2014-09-30 112.13 380.04 33.37
2014-06-30 131.94 377.89 22.04
2014-03-31 131.94 377.89 22.04
2013-12-31 132.19 372.16 19.54
2013-09-30 132.19 372.16 19.54
2013-06-30 185.10 367.66 13.94
2013-03-31 185.10 367.66 13.94
2012-12-31 186.65 383.40 27.84
2012-09-30 186.65 383.40 27.84
  • Latécoère's level of debt (62.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (284.1% vs 62.3% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Interest payments on debt are well covered by earnings (EBIT is 6.2x coverage).
X
Financial health checks
We assess Latécoère's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Latécoère has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Latécoère dividends. Estimated to be 0.71% next year.
If you bought €2,000 of Latécoère shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Latécoère's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Latécoère's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:12J Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Europe Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 27 Stocks 1.7%
Germany Market Average Dividend Yield Market Cap Weighted Average of 325 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:12J Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.09 1.00
2020-12-31 0.02 3.00
2019-12-31 0.01 3.00
DB:12J Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2009-09-16 0.000 0.000
2009-04-24 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Latécoère has not reported any payouts.
  • Unable to verify if Latécoère's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Latécoère's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Latécoère has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Latécoère's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Latécoère's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Latécoère afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Latécoère has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Latécoère's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Yannick Assouad
COMPENSATION €891,163
AGE 60
TENURE AS CEO 3.5 years
CEO Bio

Ms. Yannick Assouad has been the Chief Executive Officer of Latécoère S.A. since November 2016 and serves as its Director. Ms. Assouad served as the Chief Executive Officer of The Cabin & Structures and Galleys & Equipment Segments at Zodiac Aerospace. Ms. Assouad served as Member of Executive Board at Zodiac Aerospace since November 23, 2015 until September 9, 2016. She served as the Chief Executive Officer of Aircraft Systems Segment at Zodiac Cabin since May 2015. She served as the Chief Executive Officer of Zodiac Services at Zodiac Aerospace until November 01, 2016. While working as an Instructor at CIEFOP Paris, she joined Thomson-CSF (now Thalès) in 1986, where she served as the Head of The Thermal and Mechanical Analysis Group until 1998. From 1998 to 2003, she served first as Technical Director and then as the Chief Executive Officer of Honeywell Aerospace, before being appointed Chairman of Honeywell SECAN. In 2003, she joined Zodiac Aerospace as Chief Executive Officer of Intertechnique Services, a position she held until 2008. She was selected to create the Group's Services Business Segment, which she headed until 2010. She serves as the Chairman and Director of various companies within the Aircraft Systems Business Segment of Zodiac Aerospace. She has been a Non-Executive Independent Director of Arkema S.A. since May 23, 2017. She serves as a Director of the Institut de Recherche Technologique St Exupéry. She has been an Independent Director of VINCI SA since April 16, 2013 and has also been its Lead Independent Director since October 2018. From 2013 to 2016 She was Member of the Executive Board of Zodiac Aerospace; Chairman and director of companies in the Aircraft Systems division and later the Cabin division of Zodiac Aerospace and Director of the Institut de recherche technologique Saint-Exupéry. Ms. Assouad is a graduate of the Institut National des Sciences Appliquées of Lyon (France) and holds a PhD in aeronautical engineering from the Illinois Institute of Technology (ITT) in the United-States.

CEO Compensation
  • Yannick's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Yannick's remuneration is about average for companies of similar size in Germany.
Management Team

Yannick Assouad

TITLE
CEO & Director
COMPENSATION
€891K
AGE
60
TENURE
3.5 yrs

Jean-Louis Peltriaux

TITLE
Cost Control Manager
COMPENSATION
€106K
AGE
52

Sébastien Rouge

TITLE
Group Chief Financial Officer
AGE
52
TENURE
2.3 yrs

Thierry Mootz

TITLE
COO & VP of Performance

Thierry Mahe

TITLE
Head of Group Communication

Herve Schembri

TITLE
Vice President of Marketing & Strategy

Emmanuel Remy

TITLE
VP of Sales & Marketing Group and GM of Aerostructures Division

Hervé Blanchard

TITLE
Vice President of Human Resources

Raphael Bolzan

TITLE
Senior Vice President of American Affaires

Christian Beugnet

TITLE
Company Secretary
COMPENSATION
€8K
AGE
75
Board of Directors Tenure

Average tenure and age of the Latécoère board of directors in years:

3
Average Tenure
51
Average Age
  • The average tenure for the Latécoère board of directors is less than 3 years, this suggests a new board.
Board of Directors

Pierre Gadonneix

TITLE
Chairman of the Board
COMPENSATION
€200K
AGE
76
TENURE
3.8 yrs

Yannick Assouad

TITLE
CEO & Director
COMPENSATION
€891K
AGE
60

Claire Dreyfus-Cloarec

TITLE
Lead Independent Director
COMPENSATION
€60K
AGE
72
TENURE
0.5 yrs

Matthew Glowasky

TITLE
Director
AGE
38
TENURE
3.8 yrs

Christophe Villemin

TITLE
Director
COMPENSATION
€50K
AGE
51
TENURE
3.8 yrs

Isabelle Azemard

TITLE
Independent Director
COMPENSATION
€60K
AGE
67
TENURE
3.8 yrs

Nathalie Stubler

TITLE
Independent Director
COMPENSATION
€50K
AGE
50
TENURE
2.1 yrs

Chantal Genermont

TITLE
Director
COMPENSATION
€50K
AGE
44
TENURE
2.1 yrs

Ralf Ackermann

TITLE
Director
TENURE
0.1 yrs

Jeremy Honeth

TITLE
Director
AGE
36
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
18. Jul 19 Buy Oddo Bhf Asset Management SAS Company 17. Jul 19 17. Jul 19 32,528 €3.82 €124,257
17. Jul 19 Buy Syquant Capital SAS Company 16. Jul 19 16. Jul 19 116,272 €3.82 €444,159
17. Jul 19 Buy Oddo Bhf Asset Management SAS Company 16. Jul 19 16. Jul 19 15,000 €3.82 €57,300
16. Jul 19 Buy Oddo Bhf Asset Management SAS Company 15. Jul 19 15. Jul 19 85,876 €3.82 €328,046
15. Jul 19 Buy Oddo Bhf Asset Management SAS Company 12. Jul 19 12. Jul 19 14,124 €3.82 €53,954
12. Jul 19 Buy Oddo Bhf Asset Management SAS Company 11. Jul 19 11. Jul 19 339,176 €3.82 €1,295,652
11. Jul 19 Sell Oddo Bhf Asset Management SAS Company 10. Jul 19 10. Jul 19 -599,083 €3.82 €-2,288,497
11. Jul 19 Buy Oddo Bhf Asset Management SAS Company 10. Jul 19 10. Jul 19 432,108 €3.82 €1,650,653
11. Jul 19 Buy Syquant Capital SAS Company 10. Jul 19 10. Jul 19 50,000 €3.81 €190,500
10. Jul 19 Buy Syquant Capital SAS Company 09. Jul 19 09. Jul 19 255,859 €3.81 €974,823
10. Jul 19 Sell Oddo Bhf Asset Management SAS Company 09. Jul 19 09. Jul 19 -861,718 €3.82 €-3,291,762
10. Jul 19 Buy Oddo Bhf Asset Management SAS Company 09. Jul 19 09. Jul 19 315,859 €3.81 €1,203,423
09. Jul 19 Buy Oddo Bhf Asset Management SAS Company 08. Jul 19 08. Jul 19 199,756 €3.81 €761,070
08. Jul 19 Buy Oddo Bhf Asset Management SAS Company 05. Jul 19 05. Jul 19 42,743 €3.81 €162,851
05. Jul 19 Buy Oddo Bhf Asset Management SAS Company 04. Jul 19 04. Jul 19 287,075 €3.81 €1,093,756
04. Jul 19 Buy Oddo Bhf Asset Management SAS Company 03. Jul 19 03. Jul 19 30,000 €3.81 €114,300
03. Jul 19 Buy Oddo Bhf Asset Management SAS Company 02. Jul 19 02. Jul 19 312,847 €3.80 €1,188,819
03. Jul 19 Buy Syquant Capital SAS Company 02. Jul 19 02. Jul 19 1,061,765 €3.82 €4,055,943
02. Jul 19 Buy Oddo Bhf Asset Management SAS Company 01. Jul 19 01. Jul 19 1,464,903 €3.79 €5,551,983
02. Jul 19 Buy Syquant Capital SAS Company 01. Jul 19 01. Jul 19 1,061,765 €3.79 €4,024,090
X
Management checks
We assess Latécoère's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Latécoère has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Latécoère S.A., together with its subsidiaries, designs, develops, manufactures, and supports aerostructures and interconnection systems in Europe, the United States, Asia, and internationally. The company’s Aerostructures segment manufactures aircraft structural elements, such as fuselage elements, and passenger and cargo aircraft doors; and fuselage components, such as aircraft sections, tail cones, nose cone fairings, etc. This segment serves aircraft manufacturers. Its Interconnection Systems segment offers wiring systems, electrical racks and bays, and electrical harnesses, as well as test benches; and avionics racks, cockpit control panels, and in-flight entertainment systems. This segment serves aeronautics, defense, and space sectors. Latécoère S.A. was founded in 1917 and is headquartered in Toulouse, France.

Details
Name: Latécoère S.A.
12J
Exchange: DB
Founded: 1917
€361,754,368
94,824,212
Website: http://www.latecoere.aero
Address: Latécoère S.A.
135 rue de Périole,
BP 25211,
Toulouse,
Midi-Pyrénées, 31079,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA LAT Ordinary Shares Euronext Paris FR EUR 02. Jan 1992
DB 12J Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0IXT Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
BATS-CHIXE LATP Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
4,958
Latécoère employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 21:33
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/19
Last earnings filing: 2019/04/19
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.