BME:REP

Stock Analysis Report

Executive Summary

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


Snowflake Analysis

Reasonable growth potential and fair value.


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

-5.5%

REP

-1.1%

ES Oil and Gas

-0.4%

ES Market


1 Year Return

-21.1%

REP

-4.6%

ES Oil and Gas

7.7%

ES Market

Return vs Industry: REP underperformed the Spanish Oil and Gas industry which returned -4.7% over the past year.

Return vs Market: REP underperformed the Spanish Market which returned 7.7% over the past year.


Shareholder returns

REPIndustryMarket
7 Day-5.5%-1.1%-0.4%
30 Day-8.7%-6.9%3.3%
90 Day-18.6%-7.7%6.5%
1 Year-16.8%-21.1%0.9%-4.6%11.4%7.7%
3 Year-0.06%-13.5%30.8%12.1%17.5%6.4%
5 Year-11.6%-30.8%42.3%9.7%9.3%-8.8%

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?

30.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: REP (€11.96) is trading below our estimate of fair value (€17.42)

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


Price To Earnings Ratio

PE vs Industry: REP is unprofitable, so we can't compare its PE Ratio to the Oil and Gas industry average.

PE vs Market: REP is unprofitable, so we can't compare its PE Ratio to the Spanish market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate REP's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: REP is good value based on its PB Ratio (0.8x) compared to the XE Oil and Gas industry average (0.9x).


Next Steps

Future Growth

How is Repsol forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

34.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: REP is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.4%).

Earnings vs Market: REP is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: REP's is expected to become profitable in the next 3 years.

Revenue vs Market: REP's revenue (5.3% per year) is forecast to grow faster than the Spanish market (4.7% per year).

High Growth Revenue: REP's revenue (5.3% per year) is forecast to grow slower than 20% 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 (8.7%).


Next Steps

Past Performance

How has Repsol performed over the past 5 years?

11.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: REP is currently unprofitable.

Growing Profit Margin: REP is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: REP is unprofitable, but has reduced losses over the past 5 years at a rate of 11.3% per year.

Accelerating Growth: Unable to compare REP's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: REP is unprofitable, making it difficult to compare its past year earnings growth to the Oil and Gas industry (-5.2%).


Return on Equity

High ROE: REP has a negative Return on Equity (-15.03%), as it is currently unprofitable.


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 (€16.5B) exceed its short term liabilities (€15.1B).

Long Term Liabilities: REP's short term assets (€16.5B) do not cover its long term liabilities (€17.6B).


Debt to Equity History and Analysis

Debt Level: REP's debt to equity ratio (56.9%) is considered high.

Reducing Debt: REP's debt to equity ratio has increased from 41.6% to 56.9% over the past 5 years.


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 1.2x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: REP has been profitable on average in the past, therefore cash runway is not a concern.

Forecast Cash Runway: REP has been profitable on average in the past, therefore cash runway is not a concern.


Next Steps

Dividend

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

7.66%

Current Dividend Yield


Dividend Yield vs Market

company7.7%marketbottom25%2.3%markettop25%5.4%industryaverage6.3%forecastin3Years8.6%

Current dividend yield vs market & industry

Notable Dividend: REP's dividend (7.66%) is higher than the bottom 25% of dividend payers in the Spanish market (2.29%).

High Dividend: REP's dividend (7.66%) is in the top 25% of dividend payers in the Spanish market (5.36%)


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: REP is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: REP's dividends in 3 years are forecast to be covered by earnings (57.3% payout ratio).


Next Steps

Management

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

3.8yrs

Average management tenure


CEO

Josu Jon Imaz San Miguel (56yo)

5.8yrs

Tenure

€3,827,188

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 ($USD4.16M) is about average for companies of similar size in the Spanish market ($USD3.85M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Josu Jon Imaz San Miguel
CEO & Executive Director5.8yrs€3.83m0.022% 3.8m
José Manuel Loureda Mantiñán
Executive Director13.1yrs€252.02k0.000010% 1.8k
Luis Suárez de Lezo Mantilla
Secretary & External Director15yrs€8.51m0.0052% 915.7k
Antonio De Lorenzo Sierra
Executive MD & CFO1.6yrsno datano data
Ramón Álvarez-Pedrosa
Head of Investor Relations0yrsno datano data
Miguel Klingenberg Calvo
Executive Managing Director of Legal Affairs3.8yrsno datano data
Begoña Elices García
Executive MD of Communication & the Chairman's Office3.8yrsno datano data
Arturo Gonzalo Aizpiri
Executive Managing Director of People & Organization3.8yrsno datano data
Maria Victoria Zingoni Domínguez
Executive Managing Director of Commercial Businesses & Chemicals4.8yrsno datano data
Luis Cabra Dueñas
Executive MD of Technology Development7.8yrsno datano data

3.8yrs

Average Tenure

65yo

Average Age

Experienced Management: REP's management team is considered experienced (3.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Josu Jon Imaz San Miguel
CEO & Executive Director5.8yrs€3.83m0.022% 3.8m
José Manuel Loureda Mantiñán
Executive Director13.1yrs€252.02k0.000010% 1.8k
Luis Suárez de Lezo Mantilla
Secretary & External Director15yrs€8.51m0.0052% 915.7k
Rene Dahan
Proprietary Director6.8yrs€353.19k0.0045% 799.0k
John West
Independent Non-Executive Director5.1yrs€353.19kno data
Henri Philippe Reichstul
External Director1.3yrs€353.19kno data
Antonio Brufau Niubó
Non-Executive Chairman15.3yrsno data0.038% 6.8m
Manuel Manrique Cecilia
Deputy Vice Chairman0yrs€353.19k0.00010% 17.7k
Mariano Marzo Carpio
Lead Independent Director0.8yrs€255.69kno data
María del Carmen Ganyet i Cirera
Independent External Director1.8yrs€299.84kno data

5.8yrs

Average Tenure

70.5yo

Average Age

Experienced Board: REP's board of directors are considered experienced (5.8 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: REP insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

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: €17.678b
  • Shares outstanding: 1.48b
  • Website: https://www.repsol.com

Number of Employees


Location

  • Repsol, S.A.
  • Mendez Alvaro, 44
  • Madrid
  • Madrid
  • 28045
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
REPY.YOTCPK (Pink Sheets LLC)ADR-EACH CNV INTO 1 ORD(BNY)USUSDMay 1989
REPADB (Deutsche Boerse AG)ADR-EACH CNV INTO 1 ORD(BNY)DEEURMay 1989
REPAXTRA (XETRA Trading Platform)ADR-EACH CNV INTO 1 ORD(BNY)DEEURMay 1989
REPY.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
REPBME (Bolsas y Mercados Espanoles)YesOrdinary SharesESEURJan 1992
0NQGLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
REPDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 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. The company’s Upstream segment engages in the exploration, production, and sale of crude oil and natural gas reserves. Its Downstream segment in involved in refining; the production and marketing of petrochemical products; the trading and transportation of crude oil and oil products; the sale of oil, chemical, and liquefied petroleum gas (LPG) products; the sale, transport, and regasification of natural gas and liquefied natural gas (LNG); and the sale of gas. The company also distributes and markets oil products; installs, operates, and manages service stations; provides maritime services; constructs and operates oil refineries; refines and markets hydrocarbons; provides human resource services; generates, distributes, and supplies electricity; and develops new energy source projects, as well as produces, distributes, and sells lubricants and biofuels. Further, it is involved in the marketing of chemical products, fuel marketing, research activities, trading and transport, insurance and reinsurance, and financing activities. The company was formerly known as Repsol YPF, S.A. and changed its name to Repsol, S.A. in May 2012. Repsol, S.A. was founded in 1927 and is headquartered in Madrid, Spain. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/23 20:49
End of Day Share Price2020/02/21 00:00
Earnings2019/12/31
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.