DB:XNP

Stock Analysis Report

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Executive Summary

CNP Assurances SA provides personal insurance and reinsurance products in France, Latin America, and other European countries.


Snowflake Analysis

Very undervalued 6 star dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

6.6%

XNP

3.3%

DE Insurance

2.8%

DE Market


1 Year Return

-46.8%

XNP

-8.8%

DE Insurance

0.2%

DE Market

Return vs Industry: XNP underperformed the German Insurance industry which returned -8.8% over the past year.

Return vs Market: XNP underperformed the German Market which returned 0.2% over the past year.


Shareholder returns

XNPIndustryMarket
7 Day6.6%3.3%2.8%
30 Day-12.3%-4.9%-1.6%
90 Day15.8%18.6%22.0%
1 Year-46.8%-46.8%-3.7%-8.8%2.3%0.2%
3 Year-43.1%-47.6%28.9%12.2%3.4%-5.0%
5 Year-13.4%-27.8%66.4%32.0%11.4%-3.4%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

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

38.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: XNP (€10.76) is trading below our estimate of fair value (€17.57)

Significantly Below Fair Value: XNP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: XNP is good value based on its PE Ratio (5.5x) compared to the Insurance industry average (10.4x).

PE vs Market: XNP is good value based on its PE Ratio (5.5x) compared to the German market (20.9x).


Price to Earnings Growth Ratio

PEG Ratio: XNP is good value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: XNP is good value based on its PB Ratio (0.4x) compared to the DE Insurance industry average (1x).


Next Steps

Future Growth

How is CNP Assurances forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

5.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: XNP's forecast earnings growth (5.8% per year) is above the savings rate (0.2%).

Earnings vs Market: XNP's earnings (5.8% per year) are forecast to grow slower than the German market (22.3% per year).

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

Revenue vs Market: XNP's revenue is expected to decline over the next 3 years (-18.3% per year).

High Growth Revenue: XNP's revenue is forecast to decline over the next 3 years (-18.3% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: XNP's Return on Equity is forecast to be low in 3 years time (7.2%).


Next Steps

Past Performance

How has CNP Assurances performed over the past 5 years?

6.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: XNP has high quality earnings.

Growing Profit Margin: XNP's current net profit margins (2.8%) are lower than last year (3.5%).


Past Earnings Growth Analysis

Earnings Trend: XNP's earnings have grown by 6.3% per year over the past 5 years.

Accelerating Growth: XNP's earnings growth over the past year (0.4%) is below its 5-year average (6.3% per year).

Earnings vs Industry: XNP earnings growth over the past year (0.4%) underperformed the Insurance industry 10%.


Return on Equity

High ROE: XNP's Return on Equity (8.1%) is considered low.


Next Steps

Financial Health

How is CNP Assurances's financial position?


Financial Position Analysis

Short Term Liabilities: XNP's short term assets (€129.6B) exceed its short term liabilities (€47.2B).

Long Term Liabilities: XNP's short term assets (€129.6B) do not cover its long term liabilities (€372.0B).


Debt to Equity History and Analysis

Debt Level: XNP's debt to equity ratio (90.5%) is considered high.

Reducing Debt: XNP's debt to equity ratio has increased from 71% to 90.5% over the past 5 years.

Debt Coverage: XNP's debt is well covered by operating cash flow (46.5%).

Interest Coverage: XNP's interest payments on its debt are well covered by EBIT (10.4x coverage).


Balance Sheet


Next Steps

Dividend

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

8.78%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: XNP's dividend (8.78%) is higher than the bottom 25% of dividend payers in the German market (1.26%).

High Dividend: XNP's dividend (8.78%) is in the top 25% of dividend payers in the German market (3.83%)


Stability and Growth of Payments

Stable Dividend: XNP's dividends per share have been stable in the past 10 years.

Growing Dividend: XNP's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (48.3%), XNP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: XNP's dividends in 3 years are forecast to be covered by earnings (51.9% payout ratio).


Next Steps

Management

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

1.8yrs

Average management tenure


CEO

Antoine Lissowski (64yo)

1.83yrs

Tenure

€450,000

Compensation

Mr. Antoine Lissowski serves as Chief Executive Officer since November 2018 and served as its Chief Financial Officer since December 16, 2013. He served as Interim Chief Executive Officer at CNP Assurances ...


CEO Compensation Analysis

Compensation vs Market: Antoine's total compensation ($USD508.88K) is below average for companies of similar size in the German market ($USD3.52M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Antoine Lissowski
CEO & Member of Management Board1.83yrs€450.00k0.00029% 20.4k
Thomas Behar
Chief Financial Officer1.5yrsno datano data
Xavier Larnaudie-Eiffel
Deputy CEO & Member of Executive Board16.58yrs€571.98kno data
Bérangère Grandjean
Human Resources Director & Member of Executive Boardno datano datano data
Martine Vareilles
Head of the Amétis Network & Social Protection Business Unit and Member of Executive Boardno datano datano data
Laurent Jumelle
Head of Latin America Business Unit & Member of Executive Board2.92yrsno datano data
Olivier Guigné
Chief Investment Officer1.83yrsno datano data
Marie Grison
Group Administrative Officer1.5yrsno datano data
Vincent Damas
Head of Relations - Investorsno datano datano data
Evelyn Tortosa
Group Compliance Director4.33yrsno datano data

1.8yrs

Average Tenure

52.5yo

Average Age

Experienced Management: XNP's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Jean-Yves Forel
Director7.58yrs€58.60k0.000030% 2.1k
Edmond Alphandéry
Honorary Chairmanno datano datano data
Philippe Wahl
Director9.42yrs€45.65k0.000030% 2.1k
Marcia Campbell
Independent Director9.42yrs€68.55k0.00011% 7.7k
Rémy Weber
Director6.67yrs€40.30k0.000030% 2.1k
Stephane Pallez
Independent Director9.25yrs€94.45k0.000030% 2.1k
Rose-Marie Van Lerberghe
Independent Director6.83yrs€86.05k0.000030% 2.1k
Jean-Paul Faugere
Independent Chairman of the Board8.08yrs€280.00k0.00022% 15.4k
Laurence Guitard
Employee Representative Director4.25yrs€22.80kno data
Philippe Bartoli
Employees Representative Director3.25yrs€30.40k0.000030% 2.1k

7.6yrs

Average Tenure

63yo

Average Age

Experienced Board: XNP's board of directors are considered experienced (7.6 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

CNP Assurances SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CNP Assurances SA
  • Ticker: XNP
  • Exchange: DB
  • Founded: 1850
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: €7.019b
  • Shares outstanding: 686.11m
  • Website: https://www.cnp.fr

Number of Employees


Location

  • CNP Assurances SA
  • 4, Place Raoul Dautry
  • Cedex 15
  • Paris
  • Ile-de-France
  • 75716
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CNPA.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDOct 1998
CNPENXTPA (Euronext Paris)YesOrdinary SharesFREUROct 1998
XNPDB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 1998
0IUQLSE (London Stock Exchange)YesOrdinary SharesGBEUROct 1998
CNPPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEUROct 1998
CNPA.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDNov 2008

Biography

CNP Assurances SA provides personal insurance and reinsurance products in France, Latin America, and other European countries. It offers life, accident, long term care, death and funerals, disability, unemployment, property and casualty, loss of income, and health insurance products; term creditor insurance products, including home and business loans, and consumer finance; solutions in the area of guarantees for real estate loans in private market; and pension plans and annuities, as well as support and assistance services. The company was founded in 1850 and is headquartered in Paris, France. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/07/06 21:35
End of Day Share Price2020/07/06 00:00
Earnings2020/03/31
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.