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Valeo

ENXTPA:FR
Snowflake Description

Good value with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
FR
ENXTPA
€8B
Market Cap
  1. Home
  2. FR
  3. Automobiles
Company description

Valeo SA designs, produces, and sells components, integrated systems, and modules for the automotive sector worldwide. The last earnings update was 53 days ago. More info.


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  • Valeo has significant price volatility in the past 3 months.
FR Share Price and Events
7 Day Returns
6.7%
ENXTPA:FR
3.4%
FR Auto Components
1.3%
FR Market
1 Year Returns
-41.1%
ENXTPA:FR
-20.6%
FR Auto Components
3.6%
FR Market
FR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Valeo (FR) 6.7% 23.8% 23.7% -41.1% -28.1% 0.7%
FR Auto Components 3.4% 18.4% 23.7% -20.6% 7.6% 25.6%
FR Market 1.3% 5.8% 14.3% 3.6% 28.9% 33.6%
1 Year Return vs Industry and Market
  • FR underperformed the Auto Components industry which returned -20.6% over the past year.
  • FR underperformed the Market in France which returned 3.6% over the past year.
Price Volatility
FR
Industry
5yr Volatility vs Market

Value

 Is Valeo 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 Valeo 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 Valeo.

ENXTPA:FR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 18 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 10.3%
Perpetual Growth Rate 10-Year FR Government Bond Rate 0.7%

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 ENXTPA:FR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.7%
Auto Components Unlevered Beta Simply Wall St/ S&P Global 1.16
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.159 (1 + (1- 33%) (63.55%))
1.437
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.44
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (1.437 * 6.65%)
10.29%

Discounted Cash Flow Calculation for ENXTPA:FR using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Valeo 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.

ENXTPA:FR DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 10.29%)
2019 187.68 Analyst x5 170.17
2020 293.59 Analyst x7 241.37
2021 386.56 Analyst x4 288.15
2022 659.00 Analyst x1 445.41
2023 842.52 Est @ 27.85% 516.33
2024 1,008.60 Est @ 19.71% 560.45
2025 1,150.00 Est @ 14.02% 579.41
2026 1,265.38 Est @ 10.03% 578.07
2027 1,357.04 Est @ 7.24% 562.10
2028 1,428.83 Est @ 5.29% 536.63
Present value of next 10 years cash flows €4,478.08
ENXTPA:FR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €1,428.83 × (1 + 0.73%) ÷ (10.29% – 0.73%)
€15,062.38
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €15,062.38 ÷ (1 + 10.29%)10
€5,657.01
ENXTPA:FR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €4,478.08 + €5,657.01
€10,135.10
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €10,135.10 / 237.29
€42.71
ENXTPA:FR Discount to Share Price
Calculation Result
Value per share (EUR) From above. €42.71
Current discount Discount to share price of €32.42
= -1 x (€32.42 - €42.71) / €42.71
24.1%

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

Current Discount
Amount off the current price Valeo is available for.
Intrinsic value
24%
Share price is €32.42 vs Future cash flow value of €42.71
Current Discount Checks
For Valeo to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Valeo's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Valeo's share price is below the future cash flow value, but not 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 Valeo's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Valeo's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:FR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €2.30
ENXTPA:FR Share Price ** ENXTPA (2019-04-18) in EUR €32.42
France Auto Components Industry PE Ratio Median Figure of 7 Publicly-Listed Auto Components Companies 8.01x
France Market PE Ratio Median Figure of 418 Publicly-Listed Companies 16.23x

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

** Primary Listing of Valeo.

ENXTPA:FR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 32.42 ÷ 2.30

14.11x

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

  • Valeo is overvalued based on earnings compared to the FR Auto Components industry average.
  • Valeo is good value based on earnings compared to the France market.
Price based on expected Growth
Does Valeo's expected growth come at a high price?
Raw Data
ENXTPA:FR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.11x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts
17%per year
France Auto Components Industry PEG Ratio Median Figure of 6 Publicly-Listed Auto Components Companies 0.66x
France Market PEG Ratio Median Figure of 273 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

ENXTPA:FR PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.11x ÷ 17%

0.83x

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

  • Valeo is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Valeo's assets?
Raw Data
ENXTPA:FR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €19.26
ENXTPA:FR Share Price * ENXTPA (2019-04-18) in EUR €32.42
France Auto Components Industry PB Ratio Median Figure of 7 Publicly-Listed Auto Components Companies 1.68x
France Market PB Ratio Median Figure of 619 Publicly-Listed Companies 1.5x
ENXTPA:FR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 32.42 ÷ 19.26

1.68x

* Primary Listing of Valeo.

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

  • Valeo is good value based on assets compared to the FR Auto Components industry average.
X
Value checks
We assess Valeo'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 Auto Components 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 Auto Components industry average (and greater than 0)? (1 check)
  5. Valeo 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 Valeo expected to perform in the next 1 to 3 years based on estimates from 18 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
17%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Valeo expected to grow at an attractive rate?
  • Valeo's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Valeo's earnings growth is expected to exceed the France market average.
  • Valeo's revenue growth is positive but not above the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:FR Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:FR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts 17%
ENXTPA:FR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 18 Analysts 4.4%
France Auto Components Industry Earnings Growth Rate Market Cap Weighted Average 9.2%
France Auto Components Industry Revenue Growth Rate Market Cap Weighted Average 4.8%
France Market Earnings Growth Rate Market Cap Weighted Average 13.5%
France Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
ENXTPA:FR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:FR Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 22,996 2,994 1,132 2
2021-12-31 21,847 2,689 945 12
2020-12-31 20,775 2,412 789 18
2019-12-31 19,812 2,220 625 16
ENXTPA:FR Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 19,124 2,170 546
2018-09-30 19,019 2,131 686
2018-06-30 18,980 2,091 835
2018-03-31 18,765 2,065 861
2017-12-31 18,484 2,039 877
2017-09-30 18,153 1,979 942
2017-06-30 17,822 1,918 1,007
2017-03-31 17,171 1,904 966
2016-12-31 16,519 1,890 925
2016-09-30 15,948 1,826 866
2016-06-30 15,376 1,761 807
2016-03-31 14,960 1,734 768

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Valeo's earnings are expected to grow by 17% yearly, however this is not considered high growth (20% yearly).
  • Valeo's revenue is expected to grow by 4.4% 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
ENXTPA:FR 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 18 Analyst Estimates (S&P Global) See Below

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

ENXTPA:FR Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 4.75 4.97 4.52 2.00
2021-12-31 3.94 4.50 3.52 8.00
2020-12-31 3.28 3.88 2.69 13.00
2019-12-31 2.64 3.21 2.23 11.00
ENXTPA:FR Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 2.30
2018-09-30 2.89
2018-06-30 3.51
2018-03-31 3.62
2017-12-31 3.69
2017-09-30 3.96
2017-06-30 4.24
2017-03-31 4.08
2016-12-31 3.91
2016-09-30 3.67
2016-06-30 3.43
2016-03-31 3.27

*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.
  • Valeo is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Valeo'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 France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France 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.
Valeo has a total score of 2/6, 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 Valeo 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 Valeo's growth in the last year to its industry (Auto Components).
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.
  • Valeo's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Valeo's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Valeo's 1-year earnings growth is negative, it can't be compared to the FR Auto Components industry average.
Earnings and Revenue History
Valeo'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 Valeo Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:FR 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 19,124.00 546.00 935.00 1,552.00
2018-09-30 19,019.00 686.00 932.00 1,527.50
2018-06-30 18,980.00 835.00 928.00 1,139.00
2018-03-31 18,765.00 860.50 920.50 1,132.50
2017-12-31 18,484.00 877.00 914.00 1,490.00
2017-09-30 18,153.00 942.00 900.50 1,351.00
2017-06-30 17,822.00 1,007.00 887.00 1,212.00
2017-03-31 17,170.50 966.00 852.50 1,074.00
2016-12-31 16,519.00 925.00 818.00 936.00
2016-09-30 15,947.50 866.00 790.00 904.00
2016-06-30 15,376.00 807.00 762.00 872.00
2016-03-31 14,960.00 768.00 751.50 830.50
2015-12-31 14,544.00 729.00 741.00 789.00
2015-09-30 14,110.00 689.50 730.50 755.00
2015-06-30 13,676.00 650.00 720.00 721.00
2015-03-31 13,200.50 606.00 701.50 695.00
2014-12-31 12,725.00 562.00 683.00 669.00
2014-09-30 12,395.00 533.50 673.00 652.50
2014-06-30 12,065.00 505.00 663.00 636.00
2014-03-31 11,863.50 472.00 659.00 620.00
2013-12-31 11,662.00 439.00 655.00 604.00
2013-09-30 11,683.00 403.50 652.50 598.00
2013-06-30 11,704.00 368.00 650.00 592.00
2013-03-31 11,731.50 370.50 654.00 589.50
2012-12-31 11,759.00 373.00 658.00 587.00
2012-06-30 11,533.00 405.00 643.00 589.00

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

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Valeo's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Valeo's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Valeo'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.6x 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 Valeo Company Filings, last reported 3 months ago.

ENXTPA:FR Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 5,378.00 4,889.00 2,364.00
2018-09-30 5,378.00 4,889.00 2,364.00
2018-06-30 5,206.00 4,996.00 2,573.00
2018-03-31 5,206.00 4,996.00 2,573.00
2017-12-31 5,106.00 4,356.00 2,462.00
2017-09-30 5,106.00 4,356.00 2,462.00
2017-06-30 4,423.00 3,417.00 2,269.00
2017-03-31 4,423.00 3,417.00 2,269.00
2016-12-31 4,353.00 2,915.00 2,359.00
2016-09-30 4,353.00 2,915.00 2,359.00
2016-06-30 3,760.00 2,519.00 1,863.00
2016-03-31 3,760.00 2,519.00 1,863.00
2015-12-31 3,692.00 1,785.00 1,742.00
2015-09-30 3,692.00 1,785.00 1,742.00
2015-06-30 3,383.00 1,935.00 1,729.00
2015-03-31 3,383.00 1,935.00 1,729.00
2014-12-31 2,955.00 1,843.00 1,522.00
2014-09-30 2,955.00 1,843.00 1,522.00
2014-06-30 2,581.00 1,940.00 1,414.00
2014-03-31 2,581.00 1,940.00 1,414.00
2013-12-31 2,528.00 1,859.00 1,534.00
2013-09-30 2,528.00 1,859.00 1,534.00
2013-06-30 2,272.00 1,913.00 1,457.00
2013-03-31 2,272.00 1,913.00 1,457.00
2012-12-31 2,195.00 2,091.00 1,352.00
2012-06-30 2,082.00 2,085.00 1,600.00
  • Valeo's level of debt (90.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (73.6% vs 90.9% today).
  • Debt is well covered by operating cash flow (44.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 18x coverage).
X
Financial health checks
We assess Valeo'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. Valeo has a total score of 3/6, 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 Valeo'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
3.86%
Current annual income from Valeo dividends. Estimated to be 4.07% next year.
If you bought €2,000 of Valeo shares you are expected to receive €77 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?
  • Valeo's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.56%).
  • Valeo's dividend is below the markets top 25% of dividend payers in France (4.36%).
Upcoming dividend payment

Purchase Valeo 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
ENXTPA:FR 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 18 Analyst Estimates (S&P Global) See Below
France Auto Components Industry Average Dividend Yield Market Cap Weighted Average of 7 Stocks 3.1%
France Market Average Dividend Yield Market Cap Weighted Average of 324 Stocks 2.9%
France Minimum Threshold Dividend Yield 10th Percentile 0.9%
France Bottom 25% Dividend Yield 25th Percentile 1.6%
France Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTPA:FR Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 2.22 2.00
2021-12-31 1.46 12.00
2020-12-31 1.26 17.00
2019-12-31 1.18 17.00
ENXTPA:FR Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-28 1.250 4.481
2019-02-21 1.250 4.433
2018-05-23 1.250 3.786
2017-02-16 1.250 2.089
2016-03-29 1.000 2.067
2015-02-25 0.733 1.674
2014-02-20 0.567 1.735
2013-02-22 0.500 2.575
2012-03-29 0.467 3.872
2012-02-22 0.467 3.458
2011-03-29 0.400 3.262
2011-02-24 0.400 2.898
2009-10-20 0.000 0.000
2009-07-29 0.000 0.000
2009-04-24 0.000 0.000
2009-04-23 0.000 0.000

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

  • Whilst dividend payments have been stable, Valeo has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Valeo only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Valeo's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.6x coverage).
X
Income/ dividend checks
We assess Valeo's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Valeo afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Valeo 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 Valeo'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
Jacques Aschenbroich
COMPENSATION €5,003,536
AGE 64
TENURE AS CEO 10.1 years
CEO Bio

Mr. Jacques Aschenbroich has been the Chairman at Valeo SA since February 18, 2016 and also its Chief Executive Officer since March 20, 2009. Mr. Aschenbroich served as the Chief Executive Officer and President at Saint-Gobain Corporation since September 18, 2007. He served as Head of Innovation and Research and Development activities at Saint-Gobain Corporation. He served several posts in the French administration and was in the cabinet of the Prime Minister in 1987 and 1988. He served as President of High-Performance Materials Sector, Senior Vice-President and General Delegate to North America of Compagnie de Saint-Gobain. He served as President of Flat Glass Division and Chief Executive Officer of Compagnie de Saint-Gobain since September 18, 2007 and served as its General Delegate to United States & Canada. He joined Saint-Gobain in 1988 and has held a number of high-level management posts. Mr. Aschenbroich served as Deputy Chief Executive Officer of the Compagnie de Saint-Gobain until December 2008. He served as Co-Chairman of Hankuk Glass Industries Inc. He served as Chairman of Grindwell Norton Ltd. until December 31, 2008. He has been Director of BNP Paribas SA since May 3, 2017. He serves as a Director of Van Gansewinkel Environmental Services Belgium NV. He has been an Independent Director of Veolia Environnement S.A. since May 16, 2012. He has been a Director of Valeo S.A. since March 20, 2009. He served as a Director of Hankuk Glass Industries Inc.; Saint-Gobain Glass France S.A. and Esso S.A.F. He served as an Additional Director of Grindwell Norton Ltd. from December 13, 2006 to December 31, 2008. Mr. Aschenbroich is an engineering graduate of the École des mines.

CEO Compensation
  • Jacques's compensation has been consistent with company performance over the past year.
  • Jacques's remuneration is higher than average for companies of similar size in France.
Management Team Tenure

Average tenure and age of the Valeo management team in years:

7.3
Average Tenure
61
Average Age
  • The average tenure for the Valeo management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jacques Aschenbroich

TITLE
Chairman & CEO
COMPENSATION
€5M
AGE
64
TENURE
10.1 yrs

Robert Charvier

TITLE
Chief Financial Officer
TENURE
9.3 yrs

Christophe Périllat-Piratoine

TITLE
Chief Operating Officer
AGE
53
TENURE
8.1 yrs

Thierry Lacorre

TITLE
Investor Relations Director

Catherine Delhaye

TITLE
Chief Ethics & Compliance Officer
TENURE
7.3 yrs

Eric Fredette

TITLE
General Counsel
TENURE
4.3 yrs

Fabienne de Brébisson

TITLE
Vice President of Communications
TENURE
8.3 yrs

Hans-Peter Kunze

TITLE
Senior Vice-President of Sales & Development
TENURE
0.6 yrs

Bruno Guillemet

TITLE
Senior Vice-President of Human Resources
AGE
61
TENURE
3.5 yrs

Éric Schuler

TITLE
President of Valeo Service Activity
TENURE
3.3 yrs
Board of Directors Tenure

Average tenure and age of the Valeo board of directors in years:

3.6
Average Tenure
67
Average Age
  • The tenure for the Valeo board of directors is about average.
Board of Directors

Jacques Aschenbroich

TITLE
Chairman & CEO
COMPENSATION
€5M
AGE
64
TENURE
3.2 yrs

Pascal Colombani

TITLE
Honorary Chairman
COMPENSATION
€73K
AGE
72
TENURE
3.2 yrs

Georges Pauget

TITLE
Lead Director
COMPENSATION
€131K
AGE
71
TENURE
3.2 yrs

Thierry Moulonguet

TITLE
Independent Director
COMPENSATION
€70K
AGE
67
TENURE
7.8 yrs

Ulrike Steinhorst

TITLE
Independent Director
COMPENSATION
€88K
AGE
67
TENURE
8.2 yrs

Michel de Fabiani

TITLE
Independent Director
COMPENSATION
€85K
AGE
73
TENURE
9.5 yrs

Noëlle Lenoir

TITLE
Independent Director
COMPENSATION
€61K
AGE
70
TENURE
8.8 yrs

Caroline Devine

TITLE
Independent Director
COMPENSATION
€64K
AGE
67
TENURE
4 yrs

Mari-Noëlle Jégo-Laveissière

TITLE
Independent Director
COMPENSATION
€55K
AGE
50
TENURE
2.9 yrs

Véronique Weill

TITLE
Independent Director
COMPENSATION
€52K
AGE
59
TENURE
2.9 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 Valeo'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. Valeo 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

Should You Be Tempted To Sell Valeo SA (EPA:FR) Because Of Its P/E Ratio?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … We'll apply a basic P/E ratio analysis to Valeo SA's (EPA:FR), to help you decide if the stock is worth further research. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Valeo SA (EPA:FR): What Does The Future Look Like?

After Valeo SA's (EPA:FR) earnings announcement in December 2018,. … the consensus outlook from analysts appear fairly confident, … as a 13% increase in profits is expected in the upcoming year,

Simply Wall St -

Investors Who Bought Valeo (EPA:FR) Shares A Year Ago Are Now Down 52%

The share price has slid 52% in that time. … We note that it has not been easy for shareholders over three years, either; the share price is down 42% in that time. … On top of that, the share price has dropped a further 11% in a month.

Simply Wall St -

Is Valeo SA (EPA:FR) A Financially Sound Company?

Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Valeo SA (EPA:FR), with a market capitalization of €6.4b, rarely draw their attention from the investing community. … FR’s financial liquidity and debt position will be analysed in this article, to get an idea of whether the company can fund opportunities for strategic growth and maintain strength through economic downturns. … Note that this information is centred entirely on financial health and is a top-level understanding, so I encourage you to look further.

Simply Wall St -

Is Valeo SA's (EPA:FR) Future Growth Already Accounted For In Today's Price?

Growth expectations for Valeo SA (EPA:FR) are high, but many investors are starting to ask whether its last close at €26.72 can still be rationalized by the future potential. … What can we expect from Valeo in the future. … If you are bullish about Valeo's growth potential then you are certainly not alone

Simply Wall St -

What Should We Expect From Valeo SA's (EPA:FR) Earnings In The Years Ahead?

Valeo SA's (EPA:FR) latest earnings announcement in December 2018a … showed … company

Simply Wall St -

Does Valeo SA's (EPA:FR) CEO Pay Reflect Performance?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … The aim of all this is to consider the appropriateness of CEO pay levels. … How Does Jacques Aschenbroich's Compensation Compare With Similar Sized Companies?

Simply Wall St -

When Should You Buy Valeo SA (EPA:FR)?

saw significant share price movement during recent months on the ENXTPA, rising to highs of €27.87 and falling to the lows of €23.47. … Some share price movements can give investors a better opportunity to enter into the stock, and potentially buy at a lower price? … Let’s take a look at Valeo’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

What Does Valeo SA’s (EPA:FR) 14% ROCE Say About The Business?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Is Valeo SA's (EPA:FR) ROE Of 18% Impressive?

Our data shows Valeo has a return on equity of 18% for the last year. … That means that for every €1 worth of shareholders' equity, it generated €0.18 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Company Info

Description

Valeo SA designs, produces, and sells components, integrated systems, and modules for the automotive sector worldwide. The company operates through four segments: Comfort & Driving Assistance Systems, Powertrain Systems, Thermal Systems, and Visibility Systems. It offers parking and driving assistance products, such as ultrasonic sensors, radars, and cameras to detect obstacles around vehicles; intuitive control products; and a range of connectivity solutions from short-range to long-range connectivity, as well as develops systems that enable the integration of applications, such as car sharing services and remote parking systems. The company also manufactures powertrain systems, including electric powertrain systems for the electric cars; products that enable the automation of transmissions to reduce fuel consumption and enhance driving comfort; and clean engines for vehicles. In addition, it designs and manufactures systems, modules, and components to optimize thermal management of vehicles and passenger comfort in the cabin. Further, the company designs and produces lighting and wiper systems for drivers in all weather conditions. In addition, it offers original equipment spares to auto manufacturers and the independent aftermarket; replacement parts and accessories for passenger cars and commercial vehicles; air conditioning systems for buses; cabin 3D image processing software; hydraulic actuators; and torque converters. Valeo SA was founded in 1923 and is headquartered in Paris, France.

Details
Name: Valeo SA
FR
Exchange: ENXTPA
Founded: 1923
€7,692,860,328
237,287,487
Website: http://www.valeo.com
Address: Valeo SA
43, rue Bayen,
Paris,
Ile-de-France, 75017,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA FR Common Shares Euronext Paris FR EUR 02. Jan 1980
OTCPK VLEE.F Common Shares Pink Sheets LLC US USD 02. Jan 1980
DB VSA2 Common Shares Deutsche Boerse AG DE EUR 02. Jan 1980
LSE 0RH5 Common Shares London Stock Exchange GB EUR 02. Jan 1980
SWX FR Common Shares SIX Swiss Exchange CH CHF 02. Jan 1980
WBAG FR Common Shares Wiener Boerse AG AT EUR 02. Jan 1980
BMV FRT N Common Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1980
BATS-CHIXE FRP Common Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1980
OTCPK VLEE.Y SPONSORED ADR Pink Sheets LLC US USD 29. Sep 1995
Number of employees
Current staff
Staff numbers
113,600
Valeo employees.
Industry
Auto Parts and Equipment
Automobiles
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/22 20:37
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/28
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.