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Edenred

DB:QSV
Snowflake Description

Moderate growth potential second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
QSV
DB
€10B
Market Cap
  1. Home
  2. DE
  3. Commercial Services
Company description

Edenred SA provides transactional solutions for companies, employees, and merchants worldwide. The last earnings update was 27 days ago. More info.


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QSV Share Price and Events
7 Day Returns
-0.6%
DB:QSV
1.8%
DE Commercial Services
1%
DE Market
1 Year Returns
52.6%
DB:QSV
-6.6%
DE Commercial Services
-5.6%
DE Market
QSV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Edenred (QSV) -0.6% 4.5% 16.4% 52.6% 138.4% 71.3%
DE Commercial Services 1.8% 3.4% 11.6% -6.6% 4.2% -41.3%
DE Market 1% 6.1% 8.4% -5.6% 10.9% 13.8%
1 Year Return vs Industry and Market
  • QSV outperformed the Commercial Services industry which returned -6.6% over the past year.
  • QSV outperformed the Market in Germany which returned -5.6% over the past year.
Price Volatility
QSV
Industry
5yr Volatility vs Market

QSV Value

 Is Edenred 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 Edenred 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 Edenred.

DB:QSV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 14 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.3%
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:QSV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Commercial Services Unlevered Beta Simply Wall St/ S&P Global 0.74
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.735 (1 + (1- 33%) (26.76%))
0.911
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.911 * 6.65%)
6.28%

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

The calculations below outline how an intrinsic value for Edenred 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:QSV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.28%)
2019 419.65 Analyst x8 394.84
2020 474.12 Analyst x8 419.71
2021 566.27 Analyst x5 471.65
2022 601.75 Est @ 6.27% 471.56
2023 628.56 Est @ 4.45% 463.44
2024 648.59 Est @ 3.19% 449.93
2025 663.50 Est @ 2.3% 433.06
2026 674.63 Est @ 1.68% 414.29
2027 683.01 Est @ 1.24% 394.64
2028 689.42 Est @ 0.94% 374.79
Present value of next 10 years cash flows €4,287.92
DB:QSV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €689.42 × (1 + 0.23%) ÷ (6.28% – 0.23%)
€11,409.16
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €11,409.16 ÷ (1 + 6.28%)10
€6,202.34
DB:QSV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €4,287.92 + €6,202.34
€10,490.26
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €10,490.26 / 238.02
€44.07
DB:QSV Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:QSV represents 0.99079x of ENXTPA:EDEN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99079x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 44.07 x 0.99079
€43.67
Value per share (EUR) From above. €43.67
Current discount Discount to share price of €41.94
= -1 x (€41.94 - €43.67) / €43.67
4%

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

Current Discount
Amount off the current price Edenred is available for.
Intrinsic value
4%
Share price is €41.94 vs Future cash flow value of €43.67
Current Discount Checks
For Edenred to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Edenred's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Edenred's share price is below the future cash flow value, but not 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 Edenred's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Edenred's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:QSV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €1.07
ENXTPA:EDEN Share Price ** ENXTPA (2019-04-24) in EUR €42.33
Europe Commercial Services Industry PE Ratio Median Figure of 105 Publicly-Listed Commercial Services Companies 16.84x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.72x

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

** Primary Listing of Edenred.

DB:QSV PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 42.33 ÷ 1.07

39.41x

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

  • Edenred is overvalued based on earnings compared to the Europe Commercial Services industry average.
  • Edenred is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Edenred's expected growth come at a high price?
Raw Data
DB:QSV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 39.41x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
15.1%per year
Europe Commercial Services Industry PEG Ratio Median Figure of 53 Publicly-Listed Commercial Services Companies 1.39x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 39.41x ÷ 15.1%

2.61x

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

  • Edenred is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Edenred's assets?
Raw Data
DB:QSV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €-6.56
ENXTPA:EDEN Share Price * ENXTPA (2019-04-24) in EUR €42.33
Germany Commercial Services Industry PB Ratio Median Figure of 8 Publicly-Listed Commercial Services Companies 2.04x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.87x
DB:QSV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 42.33 ÷ -6.56

-6.45x

* Primary Listing of Edenred.

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

  • Edenred has negative assets, we can't compare the value of its assets to the DE Commercial Services industry average.
X
Value checks
We assess Edenred'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 Commercial Services 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 Commercial Services industry average (and greater than 0)? (1 check)
  5. Edenred has a total score of 0/6, 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.

QSV Future Performance

 How is Edenred expected to perform in the next 1 to 3 years based on estimates from 14 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
15.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Edenred expected to grow at an attractive rate?
  • Edenred's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Edenred's earnings growth is expected to exceed the Germany market average.
  • Edenred's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:QSV Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:QSV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 15.1%
DB:QSV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 10.3%
Germany Commercial Services Industry Earnings Growth Rate Market Cap Weighted Average 31.3%
Germany Commercial Services Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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:QSV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:QSV Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 2,244 962 2
2022-12-31 2,099 935 2
2021-12-31 1,896 592 407 9
2020-12-31 1,737 596 362 14
2019-12-31 1,604 529 319 3
DB:QSV Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,327 526 254
2018-09-30 1,302 543 248
2018-06-30 1,296 559 248
2018-03-31 1,284 527 248
2017-12-31 1,253 494 241
2017-09-30 1,224 435 237
2017-06-30 1,195 375 232
2017-03-31 1,134 394 206
2016-12-31 1,073 413 180
2016-09-30 1,032 363 173
2016-06-30 991 312 166
2016-03-31 996 325 172

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Edenred's earnings are expected to grow by 15.1% yearly, however this is not considered high growth (20% yearly).
  • Edenred's revenue is expected to grow by 10.3% 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:QSV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Edenred Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:QSV Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.80 1.92 1.73 3.00
2020-12-31 1.48 1.64 1.33 10.00
2019-12-31 1.31 1.39 1.17 9.00
DB:QSV Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 1.07
2018-09-30 1.05
2018-06-30 1.06
2018-03-31 1.06
2017-12-31 1.03
2017-09-30 1.02
2017-06-30 1.00
2017-03-31 0.89
2016-12-31 0.78
2016-09-30 0.75
2016-06-30 0.73
2016-03-31 0.75

*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.
  • Unable to establish if Edenred will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Edenred'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
Edenred 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.

QSV Past Performance

  How has Edenred 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 Edenred's growth in the last year to its industry (Commercial Services).
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.
  • Edenred's year on year earnings growth rate has been positive over the past 5 years.
  • Edenred's 1-year earnings growth is less than its 5-year average (5.4% vs 11.3%)
  • Edenred's earnings growth has not exceeded the Europe Commercial Services industry average in the past year (5.4% vs 15.1%).
Earnings and Revenue History
Edenred'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 Edenred Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:QSV 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 1,327.00 254.00 21.00
2018-09-30 1,302.00 248.00 20.50
2018-06-30 1,296.00 248.00 20.00
2018-03-31 1,284.00 247.50 20.50
2017-12-31 1,253.00 241.00 21.00
2017-09-30 1,224.00 236.50 21.50
2017-06-30 1,195.00 232.00 22.00
2017-03-31 1,134.00 206.00 21.50
2016-12-31 1,073.00 180.00 21.00
2016-09-30 1,032.00 173.00 20.00
2016-06-30 991.00 166.00 19.00
2016-03-31 995.50 171.50 19.50
2015-12-31 1,000.00 177.00 20.00
2015-09-30 1,005.50 176.50 24.50
2015-06-30 1,011.00 176.00 29.00
2015-03-31 984.50 170.00 23.50
2014-12-31 958.00 164.00 18.00
2014-09-30 948.00 159.00 9.00
2014-06-30 938.00 154.00
2014-03-31 944.00 157.00
2013-12-31 950.00 160.00
2013-09-30 961.50 159.50
2013-06-30 973.00 159.00
2013-03-31 974.50 171.00
2012-12-31 976.00 183.00
2012-09-30 962.00 189.50
2012-06-30 948.00 196.00

*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.
  • It is difficult to establish if Edenred has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) due to its liabilities exceeding its assets.
  • Edenred used its assets less efficiently than the Europe Commercial Services industry average last year based on Return on Assets.
  • Edenred's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Edenred'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 Commercial Services 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.
Edenred has a total score of 1/6, 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.

QSV Health

 How is Edenred'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 Edenred's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Edenred's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Edenred's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Edenred'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.
  • Low level of unsold assets.
  • Edenred has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.
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 Edenred Company Filings, last reported 3 months ago.

DB:QSV Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 -1,451.00 2,696.00 2,034.00
2018-09-30 -1,451.00 2,696.00 2,034.00
2018-06-30 -1,569.00 2,532.00 1,311.00
2018-03-31 -1,569.00 2,532.00 1,311.00
2017-12-31 -1,362.00 2,136.00 1,435.00
2017-09-30 -1,362.00 2,136.00 1,435.00
2017-06-30 -1,404.00 2,732.00 1,468.00
2017-03-31 -1,404.00 2,732.00 1,468.00
2016-12-31 -1,161.00 2,021.00 1,427.00
2016-09-30 -1,161.00 2,021.00 1,427.00
2016-06-30 -1,331.00 2,018.00 874.00
2016-03-31 -1,331.00 2,018.00 874.00
2015-12-31 -1,442.00 1,622.00 981.00
2015-09-30 -1,442.00 1,622.00 981.00
2015-06-30 -1,421.00 1,708.00 820.00
2015-03-31 -1,421.00 1,708.00 820.00
2014-12-31 -1,320.00 1,409.00 1,132.00
2014-09-30 -1,320.00 1,409.00 1,132.00
2014-06-30 -1,404.00 1,626.00 925.00
2014-03-31 -1,404.00 1,626.00 925.00
2013-12-31 -1,290.00 1,605.00 1,319.00
2013-09-30 -1,290.00 1,605.00 1,319.00
2013-06-30 -1,267.00 1,542.00 1,007.00
2013-03-31 -1,267.00 1,542.00 1,007.00
2012-12-31 -1,033.00 1,388.00 1,470.00
2012-09-30 -1,033.00 1,388.00 1,470.00
2012-06-30 -1,103.00 1,560.00 1,115.00
  • Edenred has negative shareholder equity (liabilities exceed assets), this is a more serious situation compared with a high debt level.
  • Irrelevant to check if Edenred's debt level has increased considering it has negative shareholder equity.
  • Debt is not well covered by operating cash flow (19.5%, less than 20% of total debt).
  • Edenred earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Edenred'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. Edenred has a total score of 2/6, 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.

QSV Dividends

 What is Edenred'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
2.03%
Current annual income from Edenred dividends. Estimated to be 2.75% next year.
If you bought €2,000 of Edenred shares you are expected to receive €41 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?
  • Edenred's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Edenred's dividend is below the markets top 25% of dividend payers in Germany (3.7%).
Upcoming dividend payment

Purchase Edenred before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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:QSV 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 14 Analyst Estimates (S&P Global) See Below
Germany Commercial Services Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

DB:QSV Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 1.37 9.00
2020-12-31 1.18 14.00
2019-12-31 1.02 14.00
DB:QSV Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-28 0.860 2.069
2019-02-22 0.860 2.160
2018-03-16 0.850 2.718
2018-02-20 0.850 2.983
2017-03-16 0.620 2.633
2016-05-04 0.840 4.337
2015-03-05 0.840 4.459
2014-03-24 0.830 3.634
2013-03-01 0.820 3.405
2013-02-12 0.820 3.201
2012-02-23 0.700 3.128
2011-04-13 0.500 2.597
2011-03-01 0.500 2.470
2011-02-24 0.500 2.640

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

  • Edenred has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Edenred only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Edenred's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Edenred'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 Edenred afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Edenred has a total score of 3/6, see the detailed checks below.


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

QSV Management

 What is the CEO of Edenred'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
Bertrand Dumazy
COMPENSATION €3,225,248
AGE 47
TENURE AS CEO 3.5 years
CEO Bio

Mr. Bertrand Dumazy, CA has been the Chief Executive Officer of Edenred SA since October 26, 2015. Mr. Dumazy serves as Director of Neoen S.A. Mr. Dumazy has been a Director of Edenred SA since October 26, 2015. Mr. Dumazy served as the Chairman and Chief Executive Officer of Deutsch at President Engineered Connecting Devices, LLC. He served as President and Chief Executive Officer of Deutsch Group from 2011 to 2012. Mr. Dumazy served as Chief Executive Officer and President of Cromology SAS until October 31, 2015. In 2012, he joined Materis as Senior Vice-President and then Chief Executive Officer and eventually Chairman and Chief Executive Officer of Cromology. He served as Deputy Managing Director and Managing Director of Cromology. Over three years, Mr. Dumazy has implemented a number of major initiatives to boost sales, foster innovation and increase profitability. He served as the Chief Executive Officer at Materis Paints SAS since 2012. Mr. Dumazy served as the Chief Financial Officer and Head of Neopost France at Neopost SA until July 2011. He served as the Head of Strategic Marketing of Neopost S.A. He joined The Neopost Group in 2002 as Head of Marketing and Strategy. He founded Constructeo. He served as an Investment Director at BC Partners in 1999 before founding Constructeo. He served as Chairman and Chief Executive Officer of Neopost France since 2005 and Executive Vice-President of Finance for the Neopost group since 2008. In 1994, he began his career as a Management Consultant at Bain & Company first in Paris and later in Los Angeles. He is Chairman of the Supervisory Board of UTA since November 2015. Mr. Dumazy has been the Chairman and Chief Executive Officer of Edenred SA since October 26, 2015 and previously served as its Chairman from September 11, 2015 to October 26, 2015. Mr. Dumazy served as the Chairman of Cromology SAS until October 31, 2015. He served as the Chairman of the Board at Materis Paints. He serves as a Director of Terreal SAS. Mr. Dumazy is a graduate of ESCP and holds an M.B.A. from Harvard Business School.

CEO Compensation
  • Bertrand's compensation has been consistent with company performance over the past year.
  • Bertrand's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Edenred management team in years:

3.5
Average Tenure
48
Average Age
  • The tenure for the Edenred management team is about average.
Management Team

Bertrand Dumazy

TITLE
Chairman & CEO
COMPENSATION
€3M
AGE
47
TENURE
3.5 yrs

Patrick Bataillard

TITLE
Executive Vice President of Finance
AGE
53
TENURE
3.4 yrs

Solène Zammito

TITLE
Financial Communication & Investor Relations Director

Philippe Relland-Bernard

TITLE
Executive Vice President of Legal & Regulatory Affairs
AGE
45
TENURE
3 yrs

Anne-Sophie Sibout

TITLE
Vice President of Corporate Communications
TENURE
4.8 yrs

Elie du de Saint Maur

TITLE
COO of Corporate Payment Services and Executive VP of Marketing & Strategy
AGE
41
TENURE
2.6 yrs

Jacques Adoue

TITLE
Executive Vice President of Human Resources & Corporate Social Responsibility
AGE
55
TENURE
1.8 yrs

Graziella Gavezotti

TITLE
Chief Operating Officer of Southern Europe & Africa
AGE
66
TENURE
7.3 yrs

Arnaud Erulin

TITLE
Chief Operating Officer of Europe
AGE
48
TENURE
10.3 yrs

Laurent Pellet

TITLE
Chief Operating Officer of Asia-Pacific
TENURE
12.3 yrs
Board of Directors Tenure

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

5.2
Average Tenure
59
Average Age
  • The tenure for the Edenred board of directors is about average.
Board of Directors

Françoise Gri

TITLE
Vice-Chairman of the Board & Lead Independent Director
COMPENSATION
€84K
AGE
61
TENURE
1.9 yrs

Bertrand Dumazy

TITLE
Chairman & CEO
COMPENSATION
€3M
AGE
47
TENURE
3.5 yrs

Jean-Bernard Hamel

TITLE
Senior Vice-President of Treasury & Financing and Employee Director
AGE
57
TENURE
0.8 yrs

Jean-Paul Bailly

TITLE
Independent Director
COMPENSATION
€69K
AGE
72
TENURE
8.8 yrs

Philippe Citerne

TITLE
Board Observer
COMPENSATION
€32K
AGE
69
TENURE
1.9 yrs

Anne Bouverot

TITLE
Independent Director
COMPENSATION
€45K
AGE
52
TENURE
8.8 yrs

Gabriele di Genola e Suniglia

TITLE
Independent Director
COMPENSATION
€66K
AGE
71
TENURE
8.8 yrs

Bertrand Méheut

TITLE
Independent Director
COMPENSATION
€38K
AGE
67
TENURE
8.8 yrs

Jean-Romain Lhomme

TITLE
Independent Director
COMPENSATION
€58K
AGE
43
TENURE
5.5 yrs

Maëlle Gavet

TITLE
Independent Director
COMPENSATION
€28K
AGE
40
TENURE
4.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Edenred'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. Edenred 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.

QSV News

Simply Wall St News

QSV Company Info

Description

Edenred SA provides transactional solutions for companies, employees, and merchants worldwide. It offers employee benefit solutions, including Ticket Restaurant, Ticket Alimentación, Ticket Plus, Nutrisavings, etc.; and fleet and mobility solutions, such as Ticket Log, Ticket Car, UTA, Ticket Empresarial, etc. The company also provides complementary solutions comprising corporate payment solutions that enhance the management of inter-company cash flows made through checks or transfers; PrePay solutions; incentives and rewards programs, including Ticket Compliments and Ticket Kadéos; and public social programs. Its solutions are used in various areas, such as meals, food, fuel, business travel, childcare, shopping, transportation, healthcare, training, and human services, as well as purchases of environmentally-friendly products. The company was founded in 1954 and is headquartered in Malakoff, France.

Details
Name: Edenred SA
QSV
Exchange: DB
Founded: 1954
€10,075,468,635
238,021,938
Website: http://www.edenred.com
Address: Edenred SA
Immeuble Columbus,
178-180 Boulevard Gabriel Péri,
Malakoff,
Ile-de-France, 92245,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA EDEN Ordinary Shares Euronext Paris FR EUR 02. Jul 2010
OTCPK EDNM.F Ordinary Shares Pink Sheets LLC US USD 02. Jul 2010
DB QSV Ordinary Shares Deutsche Boerse AG DE EUR 02. Jul 2010
LSE 0MUM Ordinary Shares London Stock Exchange GB EUR 02. Jul 2010
BATS-CHIXE EDENP Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jul 2010
OTCPK EDNM.Y UNSPONSORD ADR Pink Sheets LLC US USD 31. Jul 2013
Number of employees
Current staff
Staff numbers
8,184
Edenred employees.
Industry
Diversified Support Services
Commercial Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 21:52
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/23
Last earnings filing: 2019/03/28
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.