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Tessi

BST:YTE
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
YTE
BST
€371M
Market Cap
  1. Home
  2. DE
  3. Software
Company description

Tessi SA provides document automation solutions for companies to manage document-based processes, payment systems, gold and currency transactions, and promotional marketing worldwide. The last earnings update was 10 days ago. More info.


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YTE Share Price and Events
7 Day Returns
-0.8%
BST:YTE
6.2%
DE IT
1.8%
DE Market
1 Year Returns
-25.2%
BST:YTE
7.3%
DE IT
-6%
DE Market
YTE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Tessi (YTE) -0.8% 8.3% -17.9% -25.2% -9% 46.1%
DE IT 6.2% 14.5% -9% 7.3% 150% 231.8%
DE Market 1.8% 4.6% 7.4% -6% 10.1% 15.3%
1 Year Return vs Industry and Market
  • YTE underperformed the IT industry which returned 7.3% over the past year.
  • YTE underperformed the Market in Germany which returned -6% over the past year.
Price Volatility
YTE
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Tessi 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 Tessi 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 Tessi.

BST:YTE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.4%
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 BST:YTE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
IT Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.054 (1 + (1- 33%) (41.66%))
1.234
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.23
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.234 * 6.65%)
8.43%

Discounted Cash Flow Calculation for BST:YTE using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Tessi 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.

BST:YTE DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.43%)
2019 40.70 Analyst x1 37.54
2020 29.00 Analyst x1 24.67
2021 27.08 Est @ -6.64% 21.24
2022 25.84 Est @ -4.58% 18.69
2023 25.03 Est @ -3.14% 16.70
2024 24.49 Est @ -2.13% 15.07
2025 24.15 Est @ -1.42% 13.70
2026 23.92 Est @ -0.93% 12.52
2027 23.78 Est @ -0.58% 11.48
2028 23.70 Est @ -0.34% 10.55
Present value of next 10 years cash flows €182.14
BST:YTE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €23.70 × (1 + 0.23%) ÷ (8.43% – 0.23%)
€289.61
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €289.61 ÷ (1 + 8.43%)10
€128.90
BST:YTE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €182.14 + €128.90
€311.04
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €311.04 / 2.81
€110.68
BST:YTE Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:YTE represents 0.98864x of ENXTPA:TES
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98864x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 110.68 x 0.98864
€109.42
Value per share (EUR) From above. €109.42
Current discount Discount to share price of €130.50
= -1 x (€130.50 - €109.42) / €109.42
-19.3%

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

  • The current share price of Tessi is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Tessi's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Tessi's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:YTE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €11.10
ENXTPA:TES Share Price ** ENXTPA (2019-04-18) in EUR €132
Germany IT Industry PE Ratio Median Figure of 20 Publicly-Listed IT Companies 25.77x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.59x

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

** Primary Listing of Tessi.

BST:YTE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 132 ÷ 11.10

11.9x

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

  • Tessi is good value based on earnings compared to the DE IT industry average.
  • Tessi is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Tessi's expected growth come at a high price?
Raw Data
BST:YTE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.9x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
30.1%per year
Germany IT Industry PEG Ratio Median Figure of 14 Publicly-Listed IT Companies 1.56x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

BST:YTE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.9x ÷ 30.1%

0.4x

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

  • Tessi is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Tessi's assets?
Raw Data
BST:YTE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €62.32
ENXTPA:TES Share Price * ENXTPA (2019-04-18) in EUR €132
Germany IT Industry PB Ratio Median Figure of 24 Publicly-Listed IT Companies 4.04x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
BST:YTE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 132 ÷ 62.32

2.12x

* Primary Listing of Tessi.

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

  • Tessi is good value based on assets compared to the DE IT industry average.
X
Value checks
We assess Tessi'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 IT 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 IT industry average (and greater than 0)? (1 check)
  5. Tessi has a total score of 4/6, 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 Tessi expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

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
30.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Tessi expected to grow at an attractive rate?
  • Tessi's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Tessi's earnings growth is expected to exceed the Germany market average.
  • Tessi's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
BST:YTE Future Growth Rates Data Sources
Data Point Source Value (per year)
BST:YTE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 30.1%
BST:YTE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 6.1%
Germany IT Industry Earnings Growth Rate Market Cap Weighted Average 23.6%
Germany IT Industry Revenue Growth Rate Market Cap Weighted Average 15.9%
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
BST:YTE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:YTE Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 484 34 1
2019-12-31 461 28 1
BST:YTE Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 428 18
2018-09-30 441 26
2018-06-30 434 45 31
2018-03-31 430 52 31
2017-12-31 427 58 31
2017-09-30 403 55 27
2017-06-30 399 52 25
2017-03-31 402 45 28
2016-12-31 404 37 30
2016-09-30 377 28
2016-06-30 350 38 26
2016-03-31 320 41 25

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Tessi's earnings are expected to grow significantly at over 20% yearly.
  • Tessi's revenue is expected to grow by 6.1% 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
BST:YTE 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 1 Analyst Estimates (S&P Global) See Below

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

BST:YTE Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 12.15 12.15 12.15 1.00
2019-12-31 9.77 9.77 9.77 1.00
BST:YTE Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31
2018-09-30
2018-06-30 11.10
2018-03-31 11.15
2017-12-31 11.20
2017-09-30 9.49
2017-06-30 9.08
2017-03-31 9.93
2016-12-31 10.78
2016-09-30 10.11
2016-06-30 9.43
2016-03-31 8.83

*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 Tessi will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Tessi'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.
Tessi has a total score of 4/6, 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 Tessi 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 Tessi's growth in the last year to its industry (IT).
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.
  • Tessi's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Tessi's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Tessi's 1-year earnings growth is negative, it can't be compared to the DE IT industry average.
Earnings and Revenue History
Tessi'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 Tessi Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:YTE Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 427.80 18.10
2018-09-30 441.12 26.39 128.01
2018-06-30 433.56 31.06 250.28
2018-03-31 430.08 31.19 246.40
2017-12-31 426.59 31.33 242.51
2017-09-30 402.60 26.54 233.00
2017-06-30 399.48 25.38 229.24
2017-03-31 401.75 27.78 227.52
2016-12-31 404.01 30.17 225.81
2016-09-30 377.18 28.29 286.16
2016-06-30 350.39 26.37 191.60
2016-03-31 320.18 24.69 173.25
2015-12-31 289.96 23.01 154.91
2015-09-30 279.27 22.28 70.29
2015-06-30 268.54 21.57 140.59
2015-03-31 257.87 19.95 134.69
2014-12-31 247.20 18.32 128.79
2014-09-30 243.37 19.04 125.26
2014-06-30 239.55 19.76 121.72
2014-03-31 239.41 20.76 120.15
2013-12-31 239.27 21.76 118.58
2013-09-30 239.79 21.26 119.86
2013-06-30 240.31 20.77 121.15
2013-03-31 243.43 20.59 122.70
2012-12-31 246.55 20.41 124.25
2012-09-30 255.38 23.93 125.13
2012-06-30 264.22 27.46 126.01

*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.
  • Tessi has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Tessi used its assets less efficiently than the DE IT industry average last year based on Return on Assets.
  • Tessi's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Tessi'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 IT 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.
Tessi 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.

Health

 How is Tessi'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 Tessi's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Tessi is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Tessi's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Tessi'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.
  • Debt is covered by short term assets, assets are 2.7x 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 Tessi Company Filings, last reported 3 months ago.

BST:YTE Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31
2018-09-30 188.65 154.54 90.65
2018-06-30 188.65 154.54 90.65
2018-03-31 188.65 154.54 90.65
2017-12-31 173.51 202.16 233.41
2017-09-30 173.51 202.16 233.41
2017-06-30 157.02 208.05 227.70
2017-03-31 157.02 208.05 227.70
2016-12-31 212.20 204.49 279.14
2016-09-30 212.20 204.49 279.14
2016-06-30 200.53 234.82 294.16
2016-03-31 200.53 234.82 294.16
2015-12-31 189.74 208.35 294.41
2015-09-30 189.74 208.35 294.41
2015-06-30 174.48 158.38 251.60
2015-03-31 174.48 158.38 251.60
2014-12-31 165.53 162.27 250.11
2014-09-30 165.53 162.27 250.11
2014-06-30 158.70 172.49 277.51
2014-03-31 158.70 172.49 277.51
2013-12-31 155.48 129.86 236.26
2013-09-30 155.48 129.86 236.26
2013-06-30 144.35 154.04 242.78
2013-03-31 144.35 154.04 242.78
2012-12-31 138.86 125.47 240.76
2012-09-30 138.86 125.47 240.76
2012-06-30 129.18 131.60 221.51
  • Tessi's level of debt (81.9%) 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 (83.5% vs 81.9% today).
  • Debt is well covered by operating cash flow (29.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 6.7x coverage).
X
Financial health checks
We assess Tessi'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. Tessi has a total score of 5/6, 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 Tessi'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 Tessi dividends.
If you bought €2,000 of Tessi 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 Tessi's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Tessi'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
BST:YTE 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 1 Analyst Estimates (S&P Global) See Below
Germany IT Industry Average Dividend Yield Market Cap Weighted Average of 13 Stocks 0.6%
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.

BST:YTE Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31
BST:YTE Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2017-09-18 0.000 0.000
2017-04-28 0.000 0.000
2016-04-29 2.000 1.412
2016-04-11 2.000 1.408
2015-04-29 2.000 1.792
2015-04-14 2.000 2.221
2014-04-14 2.000 2.210
2014-04-07 2.000 2.225
2013-04-29 2.000 2.252
2013-04-10 2.000 2.392
2012-04-27 2.000 2.659
2012-04-11 2.000 2.523
2011-04-29 2.000 2.953
2011-04-12 2.000 2.873
2010-04-30 2.000 3.310
2010-04-12 2.000 3.586
2009-04-30 1.500 3.266
2009-04-22 1.000 2.708

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

  • Unable to perform a dividend volatility check as Tessi has not reported any payouts.
  • Unable to verify if Tessi's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Tessi's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Tessi has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Tessi'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 Tessi afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Tessi 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 Tessi'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
Claire Fistarol
COMPENSATION €655,556
TENURE AS CEO 2.3 years
CEO Bio

Ms. Claire Fistarol has been the Chief Executive Officer of Tessi SA since January 17, 2017 and serves as its Chairwoman of Management Board and Member of Management Board since February 22, 2017. Ms. Fistarol served as the Chief Executive Officer of Tessi Documents Services at Tessi SA until January 24, 2017. Ms. Fistarol served as the Chief Executive Officer of Tessi Traitement De Documents and Chief Executive Officer of Tessi Moyens De Paiement at Tessi SA.

CEO Compensation
  • Insufficient data for Claire to compare compensation growth.
  • Claire's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Tessi management team in years:

0.4
Average Tenure
  • The average tenure for the Tessi management team is less than 2 years, this suggests a new team.
Management Team

Claire Fistarol

TITLE
CEO & Chairwoman of the Management Board
COMPENSATION
€656K
TENURE
2.3 yrs

Olivier Jolland

TITLE
GM & Member of the Management Board

Patrick Peillon

TITLE
Director of Information Systems
TENURE
0.4 yrs

Claire Mutel

TITLE
Legal Director
TENURE
0.4 yrs

Emmanuelle Ertel

TITLE
Director of Communication & Digital Innovation
TENURE
0.4 yrs

Benoit Bourg

TITLE
Director of Human Resources
TENURE
0.4 yrs

Cécile Devin

TITLE
Chief Executive Officer of Tessi Customer Marketing

Christos Yannicopoulos

TITLE
Chief Executive Officer of Tessi Documents Services - France
TENURE
2.3 yrs

Jean-Luc Vecchio

TITLE
Chief Executive Officer of Tessi Consulting Department
TENURE
2.3 yrs

Urs Birrer

TITLE
Chief Executive Officer of Tessi Documents Services – Germany
Board of Directors

Vincent Ménez

TITLE
Chairman of the Supervisory Board
TENURE
2.2 yrs

Jean-Louis Savoye

TITLE
Vice-Chairman of the Supervisory Board

Henri Dufer

TITLE
Member of the Supervisory Board
COMPENSATION
€35K
AGE
74

Michel Angé

TITLE
Member of the Supervisory Board
COMPENSATION
€35K
AGE
79

Nathalie Gak

TITLE
Member of the Supervisory Board

Marine Dentressangle

TITLE
Member of the Supervisory Board

Jean-Hubert Vial

TITLE
Member of the Supervisory Board

Sophie Sauvage

TITLE
Member of the Supervisory Board

Anne Canel

TITLE
Member of the Supervisory Board
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 (€)
21. Feb 19 Buy Moneta Asset Management Company 19. Feb 19 19. Feb 19 68,700 €160.00 €10,992,000
21. Feb 19 Buy FMR LLC Company 20. Feb 19 20. Feb 19 29,919 €160.00 €4,787,040
21. Feb 19 Buy HLD Associés Company 20. Feb 19 20. Feb 19 59,474 €160.00 €9,515,840
20. Feb 19 Buy HLD Associés Company 19. Feb 19 19. Feb 19 119,531 €160.00 €19,124,960
19. Feb 19 Buy HLD Associés Company 18. Feb 19 18. Feb 19 27,575 €160.00 €4,412,000
18. Feb 19 Buy HLD Associés Company 15. Feb 19 15. Feb 19 14,950 €160.00 €2,392,000
15. Feb 19 Sell Amiral Gestion SA Company 14. Feb 19 14. Feb 19 -702 €160.00 €-112,320
15. Feb 19 Buy HLD Associés Company 14. Feb 19 14. Feb 19 6,496 €160.00 €1,039,360
14. Feb 19 Buy HLD Associés Company 13. Feb 19 13. Feb 19 5,488 €160.00 €878,080
13. Feb 19 Buy HLD Associés Company 12. Feb 19 12. Feb 19 10,604 €160.00 €1,696,640
12. Feb 19 Buy HLD Associés Company 11. Feb 19 11. Feb 19 10,491 €160.00 €1,678,560
11. Feb 19 Buy HLD Associés Company 08. Feb 19 08. Feb 19 2,541 €160.00 €406,560
07. Feb 19 Buy HLD Associés Company 06. Feb 19 06. Feb 19 3,726 €160.00 €596,160
06. Feb 19 Buy HLD Associés Company 05. Feb 19 05. Feb 19 445 €160.00 €71,200
05. Feb 19 Buy HLD Associés Company 04. Feb 19 04. Feb 19 22,616 €160.00 €3,618,560
04. Feb 19 Buy HLD Associés Company 01. Feb 19 01. Feb 19 2,742 €160.00 €438,720
01. Feb 19 Buy HLD Associés Company 31. Jan 19 31. Jan 19 182 €160.00 €29,120
31. Jan 19 Buy HLD Associés Company 30. Jan 19 30. Jan 19 135 €160.00 €21,600
30. Jan 19 Buy HLD Associés Company 29. Jan 19 29. Jan 19 116 €160.00 €18,560
29. Jan 19 Buy HLD Associés Company 28. Jan 19 28. Jan 19 2,164 €160.00 €346,240
28. Jan 19 Buy HLD Associés Company 25. Jan 19 25. Jan 19 5,828 €160.00 €932,480
25. Jan 19 Buy HLD Associés Company 24. Jan 19 24. Jan 19 112 €160.00 €17,920
24. Jan 19 Buy HLD Associés Company 23. Jan 19 23. Jan 19 2,288 €160.00 €366,080
23. Jan 19 Buy HLD Associés Company 22. Jan 19 22. Jan 19 233 €160.00 €37,280
22. Jan 19 Buy HLD Associés Company 21. Jan 19 21. Jan 19 17,717 €160.00 €2,834,720
21. Jan 19 Buy HLD Associés Company 18. Jan 19 18. Jan 19 6,903 €160.00 €1,104,480
17. Jan 19 Buy Amiral Gestion SA Company 16. Jan 19 16. Jan 19 2,900 €160.00 €464,000
17. Jan 19 Buy HLD Associés Company 16. Jan 19 16. Jan 19 562 €160.00 €89,920
X
Management checks
We assess Tessi'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. Tessi 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

Tessi SA provides document automation solutions for companies to manage document-based processes, payment systems, gold and currency transactions, and promotional marketing worldwide. The company’s document services include business process outsourcing, such as document automation, the management of payments and payment systems, back-office processing and regulatory controls, or managing contact center; upstream digitization and automation, EDM and workflows, paperless contract signing, electronic invoicing, cheque deposit kiosks, SEPA migration, online tax, and employee statement filings: and transactional mail printing, direct marketing, and multichannel management of individual mailings. It also operates as a credit institution that supplies to the markets for foreign currency and physical gold for investment purposes. In addition, the company provides customer marketing services, including customer and retail marketing strategies, relational marketing, shopper activation, and brand creation and content; digital and cross channel solutions and technologies comprising mobile, Web, social media, and marketing solutions that enable brands to connect with their customers; and sales promotion campaign management services. Tessi SA was founded in 1971 and is headquartered in Grenoble, France.

Details
Name: Tessi SA
YTE
Exchange: BST
Founded: 1971
€370,966,068
2,810,349
Website: http://www.tessi.fr
Address: Tessi SA
177 cours de la Libération,
Cedex 2,
Grenoble,
Rhône-Alpes, 38029,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA TES Ordinary Shares Euronext Paris FR EUR 11. Jul 2001
BST YTE Ordinary Shares Boerse-Stuttgart DE EUR 11. Jul 2001
LSE 0ODJ Ordinary Shares London Stock Exchange GB EUR 11. Jul 2001
Number of employees
Current staff
Staff numbers
8,293
Tessi employees.
Industry
Data Processing and Outsourced Services
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 21:19
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/04/11
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.