DB:2N3

Stock Analysis Report

Executive Summary

LNA Santé SA operates and manages full-care facilities for the dependent elderly persons under the LNA Santé brand in France and Belgium.


Snowflake Analysis

Mediocre balance sheet with questionable track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: 2N3's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

12.0%

2N3

10.2%

DE Healthcare

7.3%

DE Market


1 Year Return

-18.6%

2N3

-23.4%

DE Healthcare

-17.7%

DE Market

Return vs Industry: 2N3 exceeded the German Healthcare industry which returned -23.4% over the past year.

Return vs Market: 2N3 matched the German Market which returned -17.7% over the past year.


Shareholder returns

2N3IndustryMarket
7 Day12.0%10.2%7.3%
30 Day-16.0%-15.7%-17.9%
90 Day-22.7%-20.6%-25.8%
1 Year-17.9%-18.6%-22.0%-23.4%-15.1%-17.7%
3 Yearn/a-40.9%-43.1%-18.7%-25.6%
5 Yearn/a-27.5%-31.5%-17.7%-29.0%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

16.77x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: 2N3 (€37.85) is trading above our estimate of fair value (€9.62)

Significantly Below Fair Value: 2N3 is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: 2N3 is good value based on its PE Ratio (16.8x) compared to the Healthcare industry average (27.4x).

PE vs Market: 2N3 is poor value based on its PE Ratio (16.8x) compared to the German market (16.4x).


Price to Earnings Growth Ratio

PEG Ratio: 2N3 is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: 2N3 is overvalued based on its PB Ratio (2x) compared to the DE Healthcare industry average (1.1x).


Next Steps

Future Growth

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

12.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 2N3's forecast earnings growth (12.6% per year) is above the savings rate (-0.4%).

Earnings vs Market: 2N3's earnings (12.6% per year) are forecast to grow slower than the German market (14.3% per year).

High Growth Earnings: 2N3's earnings are forecast to grow, but not significantly.

Revenue vs Market: 2N3's revenue (7.7% per year) is forecast to grow faster than the German market (4.1% per year).

High Growth Revenue: 2N3's revenue (7.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 2N3's Return on Equity is forecast to be low in 3 years time (13.5%).


Next Steps

Past Performance

How has LNA Santé performed over the past 5 years?

23.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 2N3 has high quality earnings.

Growing Profit Margin: 2N3's current net profit margins (4%) are lower than last year (4.9%).


Past Earnings Growth Analysis

Earnings Trend: 2N3's earnings have grown significantly by 23.8% per year over the past 5 years.

Accelerating Growth: 2N3's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: 2N3 had negative earnings growth (-13.4%) over the past year, making it difficult to compare to the Healthcare industry average (26%).


Return on Equity

High ROE: 2N3's Return on Equity (12.1%) is considered low.


Next Steps

Financial Health

How is LNA Santé's financial position?


Financial Position Analysis

Short Term Liabilities: 2N3's short term assets (€313.2M) do not cover its short term liabilities (€355.6M).

Long Term Liabilities: 2N3's short term assets (€313.2M) do not cover its long term liabilities (€647.2M).


Debt to Equity History and Analysis

Debt Level: 2N3's debt to equity ratio (154.6%) is considered high.

Reducing Debt: 2N3's debt to equity ratio has reduced from 249.4% to 154.6% over the past 5 years.

Debt Coverage: 2N3's debt is well covered by operating cash flow (33.2%).

Interest Coverage: 2N3's interest payments on its debt are well covered by EBIT (4.3x coverage).


Balance Sheet

Inventory Level: 2N3 has a high level of physical assets or inventory.

Debt Coverage by Assets: 2N3's debt is covered by short term assets (assets are 1.1x debt).


Next Steps

Dividend

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

1.01%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: 2N3's dividend (1.01%) isn’t notable compared to the bottom 25% of dividend payers in the German market (1.7%).

High Dividend: 2N3's dividend (1.01%) is low compared to the top 25% of dividend payers in the German market (4.97%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, 2N3 has been paying a dividend for less than 10 years.

Growing Dividend: 2N3's dividend payments have increased, but the company has only paid a dividend for 4 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (17%), 2N3's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: 2N3's dividends in 3 years are forecast to be well covered by earnings (16.8% payout ratio).


Next Steps

Management

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

8.3yrs

Average board tenure


CEO

Jean Siret (67yo)

27.67s

Tenure

€324,000

Compensation

Mr. Jean paul siret has been the Chairman and Chief Executive Officer of le noble-age., since july 30, 1992. He also serves as Founder of LNA Santé SA. Mr. Siret served as the chief executive officer of sa ...


CEO Compensation Analysis

Compensation vs Market: Jean's total compensation ($USD359.24K) is below average for companies of similar size in the German market ($USD1.03M).

Compensation vs Earnings: Jean's compensation has been consistent with company performance over the past year.


Board Members

NamePositionTenureCompensationOwnership
Jean Siret
Founder27.67yrs€324.00k0.093% 338.5k
Damien Billard
Deputy Director General of Finance & Director10.75yrs€278.00k0.031% 113.5k
Willy Siret
Deputy Director General of Operations & Director13.92yrs€278.00k0.34% 1.3m
Robert Dardanne
Director27.67yrs€12.00kno data
Daniel Braud
Independent Director8.75yrs€14.00kno data
Jean-Francois Billet
Director2.75yrs€7.00kno data
Sophie Breton
Director7.75yrsno datano data
Patricia Rosiod
Independent Director5.75yrs€13.00kno data
Maud Roux
Independent Director3.17yrs€14.00kno data
Christine Lioret
Independent Director2.75yrs€13.00kno data

8.3yrs

Average Tenure

49.5yo

Average Age

Experienced Board: 2N3's board of directors are considered experienced (8.3 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

LNA Santé SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: LNA Santé SA
  • Ticker: 2N3
  • Exchange: DB
  • Founded: 1990
  • Industry: Health Care Facilities
  • Sector: Healthcare
  • Market Cap: €362.350m
  • Shares outstanding: 9.65m
  • Website: https://www.lna-sante.com

Number of Employees


Location

  • LNA Santé SA
  • 7 Boulevard Auguste Priou
  • PO Box 32336
  • Vertou
  • Pays de la Loire
  • 44120
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LNAENXTPA (Euronext Paris)YesCommon SharesFREURJun 2006
0OR2LSE (London Stock Exchange)YesCommon SharesGBEURJun 2006
LNAPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJun 2006
2N3DB (Deutsche Boerse AG)YesCommon SharesDEEURJun 2006

Biography

LNA Santé SA operates and manages full-care facilities for the dependent elderly persons under the LNA Santé brand in France and Belgium. The company operates nursing homes, follow-up care and rehabilitation facilities, home hospitalization structures, health centers, and psychiatric clinics. It serves patients with complex, acute, or chronic pathologies comprising neurological, respiratory, cardiovascular, psychiatric, etc. The company operates 11 clinics; 1 psychiatric clinic; and 7 home care facilities. LNA Santé SA was founded in 1990 and is based in Vertou, France. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/30 00:15
End of Day Share Price2020/03/27 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.