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CTT - Correios De Portugal

DB:C7T
Snowflake Description

Good value with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
C7T
DB
€412M
Market Cap
  1. Home
  2. DE
  3. Transportation
Company description

CTT - Correios De Portugal, S.A., together with its subsidiaries, provides postal and financial services worldwide. The last earnings update was 36 days ago. More info.


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C7T Share Price and Events
7 Day Returns
1.7%
DB:C7T
2.2%
Europe Logistics
1.8%
DE Market
1 Year Returns
-12.4%
DB:C7T
-14.3%
Europe Logistics
-6%
DE Market
C7T Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
CTT - Correios De Portugal (C7T) 1.7% 4% -11.5% -12.4% -66.9% -65.6%
Europe Logistics 2.2% 8.1% 14.6% -14.3% 7.7% 3.7%
DE Market 1.8% 4.6% 7.4% -6% 10.1% 15.3%
1 Year Return vs Industry and Market
  • C7T outperformed the Logistics industry which returned -14.3% over the past year.
  • C7T underperformed the Market in Germany which returned -6% over the past year.
Price Volatility
C7T
Industry
5yr Volatility vs Market
Related Companies

Value

 Is CTT - Correios De Portugal 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 CTT - Correios De Portugal 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 CTT - Correios De Portugal.

DB:C7T Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.8%
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:C7T
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 9%
Logistics Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.037 (1 + (1- 21%) (7.49%))
1.066
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.07
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.066 * 9.02%)
9.84%

Discounted Cash Flow Calculation for DB:C7T using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for CTT - Correios De Portugal 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:C7T DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 9.84%)
2019 -18.00 Analyst x2 -16.39
2020 53.50 Analyst x2 44.34
2021 70.00 Analyst x1 52.82
2022 83.15 Est @ 18.79% 57.12
2023 94.14 Est @ 13.22% 58.87
2024 102.92 Est @ 9.32% 58.59
2025 109.70 Est @ 6.59% 56.86
2026 114.84 Est @ 4.68% 54.19
2027 118.68 Est @ 3.35% 50.99
2028 121.54 Est @ 2.41% 47.54
Present value of next 10 years cash flows €464.93
DB:C7T DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €121.54 × (1 + 0.23%) ÷ (9.84% – 0.23%)
€1,267.02
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,267.02 ÷ (1 + 9.84%)10
€495.53
DB:C7T Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €464.93 + €495.53
€960.46
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €960.46 / 150.00
€6.4
DB:C7T Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:C7T represents 0.97744x of ENXTLS:CTT
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.97744x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 6.40 x 0.97744
€6.26
Value per share (EUR) From above. €6.26
Current discount Discount to share price of €2.69
= -1 x (€2.69 - €6.26) / €6.26
57.1%

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

Current Discount
Amount off the current price CTT - Correios De Portugal is available for.
Intrinsic value
>50%
Share price is €2.69 vs Future cash flow value of €6.26
Current Discount Checks
For CTT - Correios De Portugal to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • CTT - Correios De Portugal's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • CTT - Correios De Portugal's share price is below the future cash flow value, and 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 CTT - Correios De Portugal's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are CTT - Correios De Portugal's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:C7T PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.13
ENXTLS:CTT Share Price ** ENXTLS (2019-04-18) in EUR €2.75
Europe Logistics Industry PE Ratio Median Figure of 18 Publicly-Listed Logistics Companies 19.28x
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 CTT - Correios De Portugal.

DB:C7T PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTLS:CTT Share Price ÷ EPS (both in EUR)

= 2.75 ÷ 0.13

21.01x

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

  • CTT - Correios De Portugal is overvalued based on earnings compared to the Europe Logistics industry average.
  • CTT - Correios De Portugal is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does CTT - Correios De Portugal's expected growth come at a high price?
Raw Data
DB:C7T PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
28.8%per year
Europe Logistics Industry PEG Ratio Median Figure of 14 Publicly-Listed Logistics Companies 0.9x
Germany Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.56x

*Line of best fit is calculated by linear regression .

DB:C7T PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.01x ÷ 28.8%

0.73x

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

  • CTT - Correios De Portugal is good value based on expected growth next year.
Price based on value of assets
What value do investors place on CTT - Correios De Portugal's assets?
Raw Data
DB:C7T PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €0.98
ENXTLS:CTT Share Price * ENXTLS (2019-04-18) in EUR €2.75
Europe Logistics Industry PB Ratio Median Figure of 25 Publicly-Listed Logistics Companies 2.81x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.84x
DB:C7T PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTLS:CTT Share Price ÷ Book Value per Share (both in EUR)

= 2.75 ÷ 0.98

2.81x

* Primary Listing of CTT - Correios De Portugal.

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

  • CTT - Correios De Portugal is good value based on assets compared to the Europe Logistics industry average.
X
Value checks
We assess CTT - Correios De Portugal'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 Logistics 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 Logistics industry average (and greater than 0)? (1 check)
  5. CTT - Correios De Portugal 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 CTT - Correios De Portugal expected to perform in the next 1 to 3 years based on estimates from 4 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
28.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is CTT - Correios De Portugal expected to grow at an attractive rate?
  • CTT - Correios De Portugal's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • CTT - Correios De Portugal's earnings growth is expected to exceed the Germany market average.
  • CTT - Correios De Portugal's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:C7T Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:C7T Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 28.8%
DB:C7T Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 2.4%
Europe Logistics Industry Earnings Growth Rate Market Cap Weighted Average 16.4%
Europe Logistics Industry Revenue Growth Rate Market Cap Weighted Average 2.4%
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:C7T Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:C7T Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 764 96 60 1
2020-12-31 737 76 36 4
2019-12-31 733 65 31 4
DB:C7T Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 704 59 20
2018-09-30 700 91 18
2018-06-30 695 184 16
2018-03-31 689 224 22
2017-12-31 690 291 27
2017-09-30 684 346 36
2017-06-30 683 377 48
2017-03-31 682 311 52
2016-12-31 676 268 62
2016-09-30 681 193 67
2016-06-30 686 125 65
2016-03-31 693 150 70

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • CTT - Correios De Portugal's earnings are expected to grow significantly at over 20% yearly.
  • CTT - Correios De Portugal's revenue is expected to grow by 2.4% 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:C7T 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 4 Analyst Estimates (S&P Global) See Below

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

DB:C7T 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 0.40 0.40 0.40 1.00
2020-12-31 0.24 0.30 0.17 4.00
2019-12-31 0.21 0.22 0.19 4.00
DB:C7T Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.13
2018-09-30 0.12
2018-06-30 0.11
2018-03-31 0.15
2017-12-31 0.18
2017-09-30 0.24
2017-06-30 0.32
2017-03-31 0.35
2016-12-31 0.42
2016-09-30 0.45
2016-06-30 0.44
2016-03-31 0.47

*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.
  • CTT - Correios De Portugal is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess CTT - Correios De Portugal'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
CTT - Correios De Portugal 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 CTT - Correios De Portugal 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 CTT - Correios De Portugal's growth in the last year to its industry (Logistics).
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.
  • CTT - Correios De Portugal's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • CTT - Correios De Portugal's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • CTT - Correios De Portugal's 1-year earnings growth is negative, it can't be compared to the Europe Logistics industry average.
Earnings and Revenue History
CTT - Correios De Portugal'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 CTT - Correios De Portugal Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:C7T Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 704.47 19.62 259.91
2018-09-30 700.38 17.65 252.72
2018-06-30 695.46 15.77 250.69
2018-03-31 688.64 22.28 248.48
2017-12-31 690.01 27.26 242.68
2017-09-30 683.86 35.64 235.67
2017-06-30 683.14 48.23 228.25
2017-03-31 682.45 51.82 223.82
2016-12-31 675.75 62.16 222.71
2016-09-30 680.69 67.47 230.43
2016-06-30 686.42 64.58 234.53
2016-03-31 692.59 70.44 224.65
2015-12-31 709.39 72.07 224.92
2015-09-30 725.82 75.17 229.12
2015-06-30 733.50 80.27 227.55
2015-03-31 734.40 81.39 232.94
2014-12-31 710.62 77.17 234.85
2014-09-30 695.14 68.48 234.53
2014-06-30 690.05 65.44 237.30
2014-03-31 687.18 61.24 238.91
2013-12-31 699.21 61.02 240.40
2013-09-30 700.81 45.55 243.19
2013-06-30 697.00 30.51 240.91
2013-03-31 703.40 35.15 245.09
2012-12-31 706.55 35.74 250.44

*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.
  • CTT - Correios De Portugal has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • CTT - Correios De Portugal used its assets less efficiently than the Europe Logistics industry average last year based on Return on Assets.
  • CTT - Correios De Portugal's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess CTT - Correios De Portugal'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 Logistics 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.
CTT - Correios De Portugal has a total score of 0/6, 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 CTT - Correios De Portugal'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 CTT - Correios De Portugal's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • CTT - Correios De Portugal's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • CTT - Correios De Portugal's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of CTT - Correios De Portugal'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 24.1x 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 CTT - Correios De Portugal Company Filings, last reported 3 months ago.

DB:C7T Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 146.75 30.86 527.59
2018-09-30 135.43 4.23 536.67
2018-06-30 131.78 2.54 691.56
2018-03-31 187.91 10.12 601.46
2017-12-31 183.99 10.38 728.68
2017-09-30 181.74 8.03 755.28
2017-06-30 179.66 8.40 807.99
2017-03-31 244.28 9.32 659.14
2016-12-31 233.33 9.81 680.95
2016-09-30 225.35 10.20 662.97
2016-06-30 211.41 10.54 695.27
2016-03-31 270.58 10.48 573.15
2015-12-31 251.83 8.11 603.65
2015-09-30 227.65 9.87 630.11
2015-06-30 215.26 5.94 674.49
2015-03-31 272.20 5.15 522.81
2014-12-31 249.21 3.76 664.57
2014-09-30 266.48 7.70 696.51
2014-06-30 249.94 7.18 675.91
2014-03-31 292.12 7.03 545.29
2013-12-31 275.93 7.00 544.88
2013-09-30 264.73 6.48 610.08
2013-06-30 255.26 6.29 645.65
2013-03-31 273.48 11.42 489.30
2012-12-31 273.48 11.42 489.30
  • CTT - Correios De Portugal's level of debt (21%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (2.5% vs 21% today).
  • Debt is well covered by operating cash flow (191.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 53x coverage).
X
Financial health checks
We assess CTT - Correios De Portugal'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. CTT - Correios De Portugal has a total score of 4/6, 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 CTT - Correios De Portugal'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
3.64%
Current annual income from CTT - Correios De Portugal dividends. Estimated to be 6.96% next year.
If you bought €2,000 of CTT - Correios De Portugal shares you are expected to receive €73 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?
  • CTT - Correios De Portugal's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.43%).
  • CTT - Correios De Portugal's dividend is below the markets top 25% of dividend payers in Germany (3.71%).
Upcoming dividend payment

Purchase CTT - Correios De Portugal 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:C7T 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 4 Analyst Estimates (S&P Global) See Below
Europe Logistics Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.7%
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:C7T Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.30 1.00
2020-12-31 0.19 4.00
2019-12-31 0.10 1.00
DB:C7T Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-18 0.100 3.762
2019-02-20 0.100 3.554
2018-03-07 0.380 12.139
2017-03-10 0.480 10.848
2016-10-31 0.480 8.391
2016-03-15 0.465 6.517
2015-03-26 0.465 5.131
2015-03-04 0.465 4.862
2014-03-24 0.400 5.139
2014-03-12 0.400 5.311
2013-12-05 0.257 4.024

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

  • CTT - Correios De Portugal has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • CTT - Correios De Portugal has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of CTT - Correios De Portugal's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.3x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess CTT - Correios De Portugal'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 CTT - Correios De Portugal afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. CTT - Correios De Portugal 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.

Management

 What is the CEO of CTT - Correios De Portugal'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
Francisco José Queiroz de de Lacerda
COMPENSATION €497,072
AGE 58
TENURE AS CEO 6.7 years
CEO Bio

Mr. Francisco José Queiroz de Barros de Lacerda has been the Chief Executive Officer at CTT - Correios De Portugal, S.A., since August 24, 2012 and serves as its Vice Chairman. Mr. de Lacerda serves as Vice President of the Management Board at BankEuropa Bankasi, A.S. in Turkey. He has been a Member of the Management Board of NovaBank S.A. in Greece since April 2003. He had served as the Chairman of the Board of Banco CTT, S.A. since August 24, 2015. He served as the Chief Executive Officer of CIMPOR - Cimentos De Portugal From 2010 to 2012 and SGPS, S.A. He served as the Chief Executive Officer of Cimentos De Portugal, SGPS, S.A. He joined Banco Mello de Investments S.A. in 1991 and served as its Managing Director from 1993 to 2000. He served as a Vice President of Banco Mello S.A. since 1997. He served as the President of several banks and financial companies, subsidiaries of Banco Mello, in Portugal and abroad. He served as the 1st Vice President of Bank Millennium Spolka Akcyjna from May 7, 2001 to April 30, 2003. He was a Partner of Banco Activobank S.A. He served as a Senior Specialist and Manager of the Financial Assistance and Capital Market Services at Cisf - Companhia de Investimentos e Servicos Financeiros (now renamed BCP Investimento) from 1985 to 1987. He served as a Financial Engineering and Capital Market Manager at Hispano Americano Sociedade de Investimentos. He served as an Analyst, Advisor and General Manager of LOCAPOR (leasing business) and UNICRE (credit card business) from 1984 to 1986. Mr. de Lacerda served as a Manager of BCP Participacoes Financeiras, S.G.P.S., Sociedade Unipessoal Lda. He started his career in 1982 at Locapor where he remained until 1984, when he moved to Unicre to work in the financial area. He served as an Assistant Professor at Universidade Catolica Portuguesa from 1984 to 1985. He had served as the Chairman of the Board and Director at CTT - Correios De Portugal, S.A. since March 24, 2014 and August 24, 2012 respectively. He served as the Chairman of Banco Mello since 1997. He served as the Chairman of the Board of Directors of Sociedade de Investimento Cimpor Macau SA. He served as Deputy Chairman of Management Board at Bank Millennium Spolka Akcyjna since May 1, 2003 and also served as its Member of Management Board since July 16, 2003. He served as a Vice President of the Management Board at Bank Millennium Spolka Akcyjna until May 1, 2003. He served as a Vice Chairman of Supervisory Boards of Millennium Dom Maklerski S.A., Forin Sp. z o.o. and Bel Leasing Sp. z o.o. He has been an External Independent Director at Endesa SA since April 27, 2015. From 2000 to 2008, he served as an Executive Member of the Board of Directors of Millenium BCP, where he was responsible for the Group's activities in Europe from 2003 to 2007 and for the Investment Bank from 2005 to 2007. He served as a Director In-charge of finances and the capital market at CISF, a company providing financial and investment services from 1985 to 1987 and Hispano Americano Sociedade de Investimentos S.A, an investment society from 1987 to 1990. He served as a Director of Cimentos De Portugal, SGPS, S.A., since April 2010. Mr. de Lacerda served as a Director of Fundacao Banco Comercial Portugues and ServiBanca - Empresa de Prestacao de Servicos A C E. He served as a Director of CIMPOR - Cimentos De Portugal, SGPS, S.A. since April 29, 2010. He served as an Independent Director of EDP Renováveis from June 2008 to 2012. He served as a Member of the Supervisory Board at Bank Millenium SA from July 16, 2003 to March 26, 2008. He served as a Director of UIF SGPS from 1990 to 2000. He served as a Director of Banco Comercial Português S.A. since 2000. He served as a Director of Companhia de Seguros Império. He served as a Director of Banco Mello since 1995. He served as a Director of Servibanca - Empresa de Prestaçao de Serviços, A.C.E. and Fundaçao Banco Commercial Portugues, subsidiaries of Banco Comercial Português S.A. He served as a Director of several banks and financial companies, subsidiaries of Banco Mello, in Portugal and abroad. He served as a Member of the Supervisory Board at Bank Millennium Spolka Akcyjna from July 16, 2003 to March 26, 2008. He served as an Assistant Professor at Universidade Católica Portuguesa from 1984 to 1985. He is a Member of the Advisory Boards of Master in Finance of Católica, Business & Economics since 2006 and of Nova, Business & Economics since 2011. Mr. De Lacerda holds a Degree in Company Administration and Business Management from Universidade Catolica Portuguesa in 1982.

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

Francisco José Queiroz de de Lacerda

TITLE
CEO & Vice Chairman
COMPENSATION
€497K
AGE
58
TENURE
6.7 yrs

Guy Patrick Guimarães de Pacheco

TITLE
CFO & Executive Director
COMPENSATION
€416K
AGE
41
TENURE
1.3 yrs

Francisco Maria da de Sousa de Macedo Simão

TITLE
COO, CTO & Executive Director
COMPENSATION
€376K
AGE
36

Dionizia Ribeiro Farinha Ferreira

TITLE
CCO of Corporate & Executive Director
COMPENSATION
€376K
AGE
52

António Ferreira Vaz da Silva

TITLE
CCO of Retail & Executive Director
COMPENSATION
€376K
AGE
52

Peter Tsvetkov

TITLE
Director of Investor Relations

Miguel Alexandre Ferreira Salema Garção

TITLE
Director of Brand & Communication

Ana Baião Matos

TITLE
Director of Accounting and Treasury

Maria Da Graça F. De E Sousa Góis

TITLE
Company Secretary and General Secretariat

Luís Miguel Rodrigues

TITLE
Director of Physical Resources & Security and Executive Director Mozambique
Board of Directors Tenure

Average tenure and age of the CTT - Correios De Portugal board of directors in years:

3.5
Average Tenure
52
Average Age
  • The tenure for the CTT - Correios De Portugal board of directors is about average.
Board of Directors

António Sarmento Mota

TITLE
Non-Executive Chairman & Lead Independent Director
COMPENSATION
€263K
AGE
60
TENURE
5.3 yrs

Francisco José Queiroz de de Lacerda

TITLE
CEO & Vice Chairman
COMPENSATION
€497K
AGE
58
TENURE
5.1 yrs

Guy Patrick Guimarães de Pacheco

TITLE
CFO & Executive Director
COMPENSATION
€416K
AGE
41
TENURE
1.3 yrs

Francisco Maria da de Sousa de Macedo Simão

TITLE
COO, CTO & Executive Director
COMPENSATION
€376K
AGE
36
TENURE
2 yrs

Dionizia Ribeiro Farinha Ferreira

TITLE
CCO of Corporate & Executive Director
COMPENSATION
€376K
AGE
52
TENURE
6.7 yrs

António Ferreira Vaz da Silva

TITLE
CCO of Retail & Executive Director
COMPENSATION
€376K
AGE
52
TENURE
2 yrs

Maria Luísa Coutinho Ferreira Leite Castro Anacoreta Correia

TITLE
Non-Executive Director
COMPENSATION
€77K
AGE
51
TENURE
2 yrs

Nuno De Carvalho Thomaz

TITLE
Non Executive Director
COMPENSATION
€64K
AGE
75
TENURE
5.1 yrs

José Manuel Fino

TITLE
Non-Executive Director
COMPENSATION
€46K
AGE
64
TENURE
4.3 yrs

Céline Dora Abecassis-Moedas

TITLE
Non-Executive Director
AGE
47
TENURE
2.7 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 CTT - Correios De Portugal'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. CTT - Correios De Portugal 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

CTT - Correios De Portugal, S.A., together with its subsidiaries, provides postal and financial services worldwide. The company operates through Mail, Express & Parcels, Financial Services, and Banco CTT segments. It offers courier, urgent mail, and merchandise services; banking services; services related with the distribution of advertising mail; and physical and hybrid mail production, as well as electronic document management services. The company also provides transport solutions in the road haulage market; and services related to the information and communication technologies, such as invoice processing and digital receipts. In addition, it enables the payment of various services and utilities through a network of approximately 4,000 agents covering business outlets as stationery stores, tobacco shops, kiosks, and supermarkets. The company operates a retail network of 2,369 contact points with 608 post offices; 1,761 postal agencies; and 1,899 stamp sale points, as well as 175 automatic stamp vending machines and 14 automatic postal product vending machines. It also operates a sorting network of 3 production and logistics centers, 7 logistics and delivery centers, and 1 business mail center; a transport network with 244 vehicles; and 235 postal delivery offices, including 60 delivery support offices, as well as 2 delivery support services. The company was formerly known as Correio Publico. CTT - Correios De Portugal, S.A. was founded in 1520 and is headquartered in Lisbon, Portugal.

Details
Name: CTT - Correios De Portugal, S.A.
C7T
Exchange: DB
Founded: 1520
€412,199,997
149,999,999
Website: http://www.ctt.pt
Address: CTT - Correios De Portugal, S.A.
Avenida D. João II, no. 13,
Lisbon,
Lisbon, 1999-001,
Portugal
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTLS CTT Ordinary Shares Euronext Lisbon PT EUR 05. Dec 2013
OTCPK CTTO.F Ordinary Shares Pink Sheets LLC US USD 05. Dec 2013
DB C7T Ordinary Shares Deutsche Boerse AG DE EUR 05. Dec 2013
LSE 0QIM Ordinary Shares London Stock Exchange GB EUR 05. Dec 2013
BMV CTT N Ordinary Shares Bolsa Mexicana de Valores MX MXN 05. Dec 2013
BATS-CHIXE CTTU Ordinary Shares BATS 'Chi-X Europe' GB EUR 05. Dec 2013
OTCPK CTTP.Y ADR Pink Sheets LLC US USD 09. Jan 2015
Number of employees
Current staff
Staff numbers
10,884
CTT - Correios De Portugal employees.
Industry
Air Freight and Logistics
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/21 21:36
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/03/16
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.