BME:REP

Stock Analysis Report

Executive Summary

Repsol, S.A. operates as an integrated energy company worldwide.

Snowflake

Mediocre balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: REP has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-2.6%

REP

-0.1%

ES Oil and Gas

-1.0%

ES Market


1 Year Return

-4.1%

REP

7.4%

ES Oil and Gas

2.2%

ES Market

Return vs Industry: REP underperformed the Spanish Oil and Gas industry which returned 7.4% over the past year.

Return vs Market: REP underperformed the Spanish Market which returned 2.2% over the past year.


Shareholder returns

REPIndustryMarket
7 Day-2.6%-0.1%-1.0%
30 Day3.2%6.1%0.4%
90 Day18.3%11.3%7.3%
1 Year1.0%-4.1%13.7%7.4%6.0%2.2%
3 Year39.8%21.5%55.9%33.9%18.9%7.8%
5 Year7.4%-15.9%57.9%23.0%9.1%-9.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

14.08x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: REP (€15.02) is trading above our estimate of fair value (€10.33)

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


Price To Earnings Ratio

PE vs Industry: REP is poor value based on its PE Ratio (14.1x) compared to the Oil and Gas industry average (10.3x).

PE vs Market: REP is good value based on its PE Ratio (14.1x) compared to the Spanish market (16.9x).


Price to Earnings Growth Ratio

PEG Ratio: REP is poor value based on its PEG Ratio (1.5x)


Price to Book Ratio

PB vs Industry: REP is good value based on its PB Ratio (0.7x) compared to the XE Oil and Gas industry average (1x).


Next Steps

Future Growth

How is Repsol forecast to perform in the next 1 to 3 years based on estimates from 21 analysts?

9.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: REP's forecast earnings growth (9.2% per year) is above the savings rate (1.5%).

Earnings vs Market: REP's earnings (9.2% per year) are forecast to grow slower than the Spanish market (9.6% per year).

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

Revenue vs Market: REP's revenue is expected to decline over the next 3 years (-0.6% per year).

High Growth Revenue: REP's revenue is forecast to decline over the next 3 years (-0.6% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: REP's Return on Equity is forecast to be low in 3 years time (8.4%).


Next Steps

Past Performance

How has Repsol performed over the past 5 years?

27.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: REP has high quality earnings.

Growing Profit Margin: REP's current net profit margins (3.7%) are lower than last year (5.2%).


Past Earnings Growth Analysis

Earnings Trend: REP's earnings have grown significantly by 27.1% per year over the past 5 years.

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

Earnings vs Industry: REP had negative earnings growth (-25.4%) over the past year, making it difficult to compare to the Oil and Gas industry average (-1.7%).


Return on Equity

High ROE: REP's Return on Equity (5.2%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Repsol's financial position?


Financial Position Analysis

Short Term Liabilities: REP's short term assets (€16.6B) exceeds its short term liabilities (€13.6B)

Long Term Liabilities: REP's short term assets (16.6B) do not cover its long term liabilities (18.5B)


Debt to Equity History and Analysis

Debt Level: REP's debt to equity ratio (46.7%) is considered high

Reducing Debt: REP's debt to equity ratio has increased from 45.4% to 46.7% over the past 5 years.

Debt Coverage: REP's debt is well covered by operating cash flow (33%).

Interest Coverage: REP's interest payments on its debt are well covered by EBIT (8x coverage).


Balance Sheet

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

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


Next Steps

Dividend

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

6.23%

Current Dividend Yield


Dividend Yield vs Market

company6.2%marketbottom25%2.3%markettop25%5.6%industryaverage5.6%forecastin3Years6.7%

Current dividend yield vs market & industry

Notable Dividend: REP's dividend (6.23%) is higher than the bottom 25% of dividend payers in the Spanish market (2.31%).

High Dividend: REP's dividend (6.23%) is in the top 25% of dividend payers in the Spanish market (5.55%)


Stability and Growth of Payments

Stable Dividend: REP's dividend payments have been volatile in the past 10 years.

Growing Dividend: REP's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (96.5%), REP's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: REP's dividends in 3 years are forecast to be covered by earnings (54.5% payout ratio).


Next Steps

Management

What is the CEO of Repsol's salary, the management and board of directors tenure and is there insider trading?

3.6yrs

Average management tenure


CEO

Josu Jon Imaz San Miguel (56yo)

5.6yrs

Tenure

€4,282,188

Compensation

Mr. Josu Jon Imaz San Miguel has been the Chief Executive Officer of Repsol, S.A., since April 30, 2014 and its Executive Director since April 30, 2014. Mr. Imaz San Miguel served as the President of Petro ...


CEO Compensation Analysis

Compensation vs Market: Josu Jon's total compensation ($USD4.72M) is above average for companies of similar size in the Spanish market ($USD2.94M).

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


Management Age and Tenure

3.6yrs

Average Tenure

65yo

Average Age

Experienced Management: REP's management team is considered experienced (3.6 years average tenure).


Board Age and Tenure

5.6yrs

Average Tenure

70yo

Average Age

Experienced Board: REP's board of directors are considered experienced (5.6 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Buy€2222 Jul 19
Rene Dahan
EntityIndividual
Role
Member of the Board of Directors
Proprietary Director
Shares2,234
Max Price€0.01
Buy€0.71002522 Jul 19
Maria Teresa García-Milá Lloveras
EntityIndividual
Shares71
Max Price€0.01
Buy€322 Jul 19
Isabel Torremocha Ferrezuelo
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares345
Max Price€0.01
Buy€2622 Jul 19
Luis Suárez de Lezo Mantilla
EntityIndividual
Role
Member of the Board of Directors
General Counsel
Shares2,563
Max Price€0.01
Buy€322 Jul 19
José Manuel Loureda Mantiñán
EntityIndividual
Role
Member of the Board of Directors
Executive Director
Shares3,327
Max Price€0.01
Buy€19022 Jul 19
Antonio Brufau Niubó
EntityIndividual
Role
Chairman of the Board
Non-Executive Chairman
Shares18,970
Max Price€0.01
Buy€10322 Jul 19
Josu Jon Imaz San Miguel
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares10,276
Max Price€0.01
Buy€34,40503 Jul 19
Josu Jon Imaz San Miguel
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares2,454
Max Price€14.02
Buy€440,64305 Jun 19
Josu Jon Imaz San Miguel
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares30,579
Max Price€14.41
Buy€72,05003 Jun 19
Josu Jon Imaz San Miguel
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares5,000
Max Price€14.41
Buy€76,10006 Mar 19
Josu Jon Imaz San Miguel
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares5,000
Max Price€15.22
Buy€76,20003 Dec 18
Josu Jon Imaz San Miguel
EntityIndividual
Role
Chief Executive Officer
CEO & Executive Director
Shares5,000
Max Price€15.24

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • José Manuel Loureda Mantiñán (80yo)

    Executive Director

    • Tenure: 12.8yrs
    • Compensation: €264.89k
  • Luis Suárez de Lezo Mantilla (68yo)

    General Counsel

    • Tenure: 14.8yrs
    • Compensation: €3.37m
  • Begoña Elices García

    Executive MD of Communication & the Chairman's Office

    • Tenure: 3.5yrs
  • Josu Jon Imaz San Miguel (56yo)

    CEO & Executive Director

    • Tenure: 5.6yrs
    • Compensation: €4.28m
  • Maria Victoria Zingoni Domínguez

    Executive Managing Director of Commercial Businesses & Chemicals

    • Tenure: 4.5yrs
  • Luis Cabra Dueñas (62yo)

    Executive MD of Technology Development

    • Tenure: 7.5yrs
  • Miguel Klingenberg Calvo

    Executive Managing Director of Legal Affairs

    • Tenure: 3.6yrs
  • Antonio De Lorenzo Sierra

    Executive MD & CFO

    • Tenure: 1.3yrs
  • Arturo Gonzalo Aizpiri

    Executive Managing Director of People & Organization

    • Tenure: 3.5yrs
  • Ramón Álvarez-Pedrosa

    Head of Investor Relations

    • Tenure: 0yrs

Board Members

  • Rene Dahan (78yo)

    Proprietary Director

    • Tenure: 6.5yrs
    • Compensation: €353.19k
  • José Manuel Loureda Mantiñán (80yo)

    Executive Director

    • Tenure: 12.8yrs
    • Compensation: €264.89k
  • Henri Philippe Reichstul (70yo)

    External Director

    • Tenure: 1.1yrs
    • Compensation: €58.86k
  • Antonio Brufau Niubó (71yo)

    Non-Executive Chairman

    • Tenure: 15.1yrs
  • Manuel Manrique Cecilia (65yo)

    Deputy Vice Chairman

    • Tenure: 0yrs
    • Compensation: €353.19k
  • Luis Suárez de Lezo Mantilla (68yo)

    General Counsel

    • Tenure: 14.8yrs
    • Compensation: €3.37m
  • Josu Jon Imaz San Miguel (56yo)

    CEO & Executive Director

    • Tenure: 5.6yrs
    • Compensation: €4.28m
  • Mariano Marzo Carpio

    Lead Independent Director

    • Tenure: 0.5yrs
    • Compensation: €242.82k
  • Isabel Torremocha Ferrezuelo

    Independent Director

    • Tenure: 2.5yrs
    • Compensation: €264.89k
  • María del Carmen Ganyet i Cirera

    Independent External Director

    • Tenure: 1.5yrs
    • Compensation: €191.31k

Company Information

Repsol, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Repsol, S.A.
  • Ticker: REP
  • Exchange: BME
  • Founded: 1927
  • Industry: Integrated Oil and Gas
  • Sector: Energy
  • Market Cap: €22.210b
  • Shares outstanding: 1.48b
  • Website: https://www.repsol.com

Number of Employees


Location

  • Repsol, S.A.
  • Méndez Álvaro, 44
  • Madrid
  • Madrid
  • 28045
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
REPADB (Deutsche Boerse AG)ADR-EACH CNV INTO 1 ORD(BNY)DEEURMay 1989
REPY.YOTCPK (Pink Sheets LLC)ADR-EACH CNV INTO 1 ORD(BNY)USUSDMay 1989
REPAXTRA (XETRA Trading Platform)ADR-EACH CNV INTO 1 ORD(BNY)DEEURMay 1989
0NQGLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
REPDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
REPY.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
REPBME (Bolsas y Mercados Espanoles)YesOrdinary SharesESEURJan 1992
REPEBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
REPXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURJan 1992
REPWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJan 1992
REPS NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNJan 1992

Biography

Repsol, S.A. operates as an integrated energy company worldwide. Its Upstream segment engages in the exploration and development of crude oil and natural gas reserves. The company’s Downstream segment in i ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/12 20:41
End of Day Share Price2019/11/12 00:00
Earnings2019/09/30
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.