XTRA:BFSA

Stock Analysis Report

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Executive Summary

Befesa S.A., a recycling services company, offers waste management solutions. More Details


Snowflake Analysis

Fair value with moderate growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-1.1%

BFSA

0.4%

DE Commercial Services

-1.0%

DE Market


1 Year Return

3.6%

BFSA

-9.6%

DE Commercial Services

6.0%

DE Market

Return vs Industry: BFSA exceeded the German Commercial Services industry which returned -9.6% over the past year.

Return vs Market: BFSA underperformed the German Market which returned 6% over the past year.


Shareholder returns

BFSAIndustryMarket
7 Day-1.1%0.4%-1.0%
30 Day0.8%-0.4%1.6%
90 Day-0.9%0.3%3.6%
1 Year5.0%3.6%-8.1%-9.6%8.5%6.0%
3 Yearn/a-17.1%-23.2%4.7%-3.8%
5 Yearn/a1.1%-11.1%37.4%18.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

18.14x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BFSA (€32.7) is trading above our estimate of fair value (€30.94)

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


Price To Earnings Ratio

PE vs Industry: BFSA is good value based on its PE Ratio (18.1x) compared to the XE Commercial Services industry average (18.9x).

PE vs Market: BFSA is good value based on its PE Ratio (18.1x) compared to the German market (22x).


Price to Earnings Growth Ratio

PEG Ratio: BFSA is good value based on its PEG Ratio (0.6x)


Price to Book Ratio

PB vs Industry: BFSA is overvalued based on its PB Ratio (3.3x) compared to the DE Commercial Services industry average (2x).


Next Steps

Future Growth

How is Befesa forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

28.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BFSA's forecast earnings growth (28.6% per year) is above the savings rate (0.2%).

Earnings vs Market: BFSA's earnings (28.6% per year) are forecast to grow faster than the German market (27.8% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BFSA's revenue (5.3% per year) is forecast to grow slower than the German market (6.1% per year).

High Growth Revenue: BFSA's revenue (5.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BFSA's Return on Equity is forecast to be low in 3 years time (19.5%).


Next Steps

Past Performance

How has Befesa performed over the past 5 years?

63.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BFSA has high quality earnings.

Growing Profit Margin: BFSA's current net profit margins (10.2%) are lower than last year (13%).


Past Earnings Growth Analysis

Earnings Trend: BFSA has become profitable over the past 5 years, growing earnings by 63.9% per year.

Accelerating Growth: BFSA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BFSA had negative earnings growth (-31.4%) over the past year, making it difficult to compare to the Commercial Services industry average (-1.4%).


Return on Equity

High ROE: BFSA's Return on Equity (17.7%) is considered low.


Next Steps

Financial Health

How is Befesa's financial position?


Financial Position Analysis

Short Term Liabilities: BFSA's short term assets (€271.9M) exceed its short term liabilities (€133.7M).

Long Term Liabilities: BFSA's short term assets (€271.9M) do not cover its long term liabilities (€603.7M).


Debt to Equity History and Analysis

Debt Level: BFSA's debt to equity ratio (146.2%) is considered high.

Reducing Debt: BFSA's debt to equity ratio has reduced from 253.6% to 146.2% over the past 5 years.

Debt Coverage: BFSA's debt is not well covered by operating cash flow (12.6%).

Interest Coverage: BFSA's interest payments on its debt are well covered by EBIT (6.2x coverage).


Balance Sheet


Next Steps

Dividend

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

1.35%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BFSA's dividend (1.35%) is higher than the bottom 25% of dividend payers in the German market (1.15%).

High Dividend: BFSA's dividend (1.35%) is low compared to the top 25% of dividend payers in the German market (3.66%).


Stability and Growth of Payments

Stable Dividend: BFSA has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: BFSA has only been paying a dividend for 2 years, and since then payments have fallen.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (24.4%), BFSA's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BFSA's dividends in 3 years are forecast to be well covered by earnings (47.8% payout ratio).


Next Steps

Management

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

13.7yrs

Average management tenure


CEO

Javier Molina Montes (61 yo)

20.67yrs

Tenure

€2,308,379

Compensation

Mr. Javier Molina Montes has been Chief Executive Officer of Befesa S.A. since 2000. Mr. Molina Montes has been the Chief Executive Officer at Befesa Medio Ambiente S.L. since July 2000 and serves as its P ...


CEO Compensation Analysis

Compensation vs Market: Javier's total compensation ($USD2.71M) is above average for companies of similar size in the German market ($USD1.55M).

Compensation vs Earnings: Insufficient data to compare Javier's compensation with company performance.


Leadership Team

NamePositionTenureCompensationOwnership
Javier Molina Montes
CEO & Executive Director20.67yrs€2.31mno data
Wolf Lehmann
CFO & Executive Director2.92yrs€1.69mno data
Asier Zarraonandia Ayo
VP of Steel Dust Recycling Services & Executive Director1.17yrs€1.58mno data
Rafael Perez
Director of Investor Relations & Strategy12.67yrsno datano data
Birke Fuchs
Board Secretary & General Counselno datano datano data

13.7yrs

Average Tenure

53yo

Average Age

Experienced Management: BFSA's management team is seasoned and experienced (13.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Javier Molina Montes
CEO & Executive Director20.67yrs€2.31mno data
Wolf Lehmann
CFO & Executive Director2.92yrs€1.69mno data
Asier Zarraonandia Ayo
VP of Steel Dust Recycling Services & Executive Director1.17yrs€1.58mno data
Manuel Soto Serrano
Independent Non-Executive Director2.92yrs€60.00kno data
Santiago Zaldumbide
Independent Non-Executive Director2.92yrs€60.00kno data
Romeo Kreinberg
Independent Chairman2.92yrs€150.00kno data
Helmut Wieser
Independent Non-Executive Director1.17yrs€30.00kno data
Frauke Heistermann
Independent Non-Executive Director2.92yrs€60.00kno data
Georg von Waldersee
Independent Non-Executive Director2.92yrs€60.00kno data

2.9yrs

Average Tenure

65yo

Average Age

Experienced Board: BFSA's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.


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

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


Key Information

  • Name: Befesa S.A.
  • Ticker: BFSA
  • Exchange: XTRA
  • Founded: 1987
  • Industry: Environmental and Facilities Services
  • Sector: Commercial Services
  • Market Cap: €1.114b
  • Shares outstanding: 34.07m
  • Website: https://www.befesa.com

Number of Employees


Location

  • Befesa S.A.
  • 46, Boulevard Grande-Duchesse Charlotte
  • Luxembourg City
  • 1330
  • Luxembourg

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BFSADB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2017
0RVKLSE (London Stock Exchange)YesOrdinary SharesGBEURNov 2017
BFSAXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURNov 2017
BFSADBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURNov 2017
BFSAETLX (Eurotlx)YesOrdinary SharesITEURNov 2017
BFSA NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNNov 2017

Biography

Befesa S.A., a recycling services company, offers waste management solutions. It operates through two segments, Steel Dust Recycling Services and Aluminium Salt Slags Recycling Services. The Steel Dust Rec ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/22 04:12
End of Day Share Price2020/09/21 00:00
Earnings2020/06/30
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.