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ACA

Crédit Agricole ENXTPA:ACA Stock Report

Last Price

€8.36

Market Cap

€25.3b

7D

-6.6%

1Y

-29.2%

Updated

02 Oct, 2022

Data

Company Financials +
ACA fundamental analysis
Snowflake Score
Valuation5/6
Future Growth1/6
Past Performance4/6
Financial Health3/6
Dividends4/6

ACA Stock Overview

Crédit Agricole S.A. provides retail, corporate, insurance, and investment banking products and services worldwide.

Crédit Agricole Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Crédit Agricole
Historical stock prices
Current Share Price€8.36
52 Week High€14.27
52 Week Low€8.09
Beta1.89
1 Month Change-10.07%
3 Month Change-4.46%
1 Year Change-29.23%
3 Year Change-20.91%
5 Year Change-46.09%
Change since IPO-52.29%

Recent News & Updates

Shareholder Returns

ACAFR BanksFR Market
7D-6.6%-6.9%-0.1%
1Y-29.2%-22.7%-12.3%

Return vs Industry: ACA underperformed the French Banks industry which returned -22.7% over the past year.

Return vs Market: ACA underperformed the French Market which returned -12.3% over the past year.

Price Volatility

Is ACA's price volatile compared to industry and market?
ACA volatility
ACA Average Weekly Movement4.0%
Banks Industry Average Movement3.8%
Market Average Movement4.9%
10% most volatile stocks in FR Market9.3%
10% least volatile stocks in FR Market2.8%

Stable Share Price: ACA is not significantly more volatile than the rest of French stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: ACA's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
189475,975Philippe Brassachttps://www.credit-agricole.com

Crédit Agricole S.A. provides retail, corporate, insurance, and investment banking products and services worldwide. It operates through Asset Gathering; Large Customers; Specialised Financial Services; French Retail Banking - LCL; and International Retail Banking. The company offers banking products and services, including savings and current accounts and deposits, finance, payments, and flow management services; consumer finance products; and banking and specialized financial services.

Crédit Agricole Fundamentals Summary

How do Crédit Agricole's earnings and revenue compare to its market cap?
ACA fundamental statistics
Market Cap€25.28b
Earnings (TTM)€4.97b
Revenue (TTM)€21.76b

5.1x

P/E Ratio

0.4x

P/B Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ACA income statement (TTM)
Revenue€21.76b
Cost of Revenue€0
Gross Profit€21.76b
Other Expenses€16.79b
Earnings€4.97b

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 10, 2022

Earnings per share (EPS)1.64
Gross Margin100.00%
Net Profit Margin22.84%
Debt/Equity Ratio515.9%

How did ACA perform over the long term?

See historical performance and comparison

Dividends

12.6%

Current Dividend Yield

63%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is ACA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ACA?

Other financial metrics that can be useful for relative valuation.

ACA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio0.7x

Price to Earnings Ratio vs Peers

How does ACA's PE Ratio compare to its peers?

ACA PE Ratio vs Peers
The above table shows the PE ratio for ACA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average15.1x
GLE Société Générale Société anonyme
7.8x43.3%€17.1b
BNP BNP Paribas
6.1x-5.7%€53.8b
MLCFM CFM Indosuez Wealth Management
19.3xn/a€561.5m
KFH Kuwait Finance House K.S.C.P
27.1x9.9%د.ك7.4b
ACA Crédit Agricole
5.1x7.0%€25.3b

Price-To-Earnings vs Peers: ACA is good value based on its Price-To-Earnings Ratio (5.1x) compared to the peer average (15.1x).


Price to Earnings Ratio vs Industry

How does ACA's PE Ratio compare vs other companies in the European Banks Industry?

Price-To-Earnings vs Industry: ACA is good value based on its Price-To-Earnings Ratio (5.1x) compared to the European Banks industry average (8.5x)


Price to Earnings Ratio vs Fair Ratio

What is ACA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ACA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.1x
Fair PE Ratio8.5x

Price-To-Earnings vs Fair Ratio: ACA is good value based on its Price-To-Earnings Ratio (5.1x) compared to the estimated Fair Price-To-Earnings Ratio (8.5x).


Share Price vs Fair Value

What is the Fair Price of ACA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: ACA (€8.36) is trading below our estimate of fair value (€16.04)

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


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


Discover undervalued companies

Future Growth

How is Crédit Agricole forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


7.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ACA's forecast earnings growth (7% per year) is above the savings rate (0.3%).

Earnings vs Market: ACA's earnings (7% per year) are forecast to grow slower than the French market (11.1% per year).

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

Revenue vs Market: ACA's revenue (2.8% per year) is forecast to grow slower than the French market (5.3% per year).

High Growth Revenue: ACA's revenue (2.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ACA's Return on Equity is forecast to be low in 3 years time (8.1%).


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Past Performance

How has Crédit Agricole performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


9.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ACA has high quality earnings.

Growing Profit Margin: ACA's current net profit margins (22.8%) are higher than last year (20%).


Past Earnings Growth Analysis

Earnings Trend: ACA's earnings have grown by 9% per year over the past 5 years.

Accelerating Growth: ACA's earnings growth over the past year (24.4%) exceeds its 5-year average (9% per year).

Earnings vs Industry: ACA earnings growth over the past year (24.4%) underperformed the Banks industry 33.6%.


Return on Equity

High ROE: ACA's Return on Equity (8.5%) is considered low.


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Financial Health

How is Crédit Agricole's financial position? (This company is analysed differently as a bank or financial institution)

Financial Health Score

3/6

Financial Health Score 3/6

  • Asset Level

  • Allowance for Bad Loans

  • Low Risk Liabilities

  • Loan Level

  • Low Risk Deposits

  • Level of Bad Loans

Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: ACA's Assets to Equity ratio (29.4x) is very high.

Allowance for Bad Loans: ACA has a low allowance for bad loans (75%).

Low Risk Liabilities: 53% of ACA's liabilities are made up of primarily low risk sources of funding.

Loan Level: ACA has an appropriate level of Loans to Assets ratio (27%).

Low Risk Deposits: ACA's Loans to Deposits ratio (52%) is appropriate.

Level of Bad Loans: ACA has a high level of bad loans (2.2%).


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Dividend

What is Crédit Agricole current dividend yield, its reliability and sustainability?

Dividend Score

4/6

Dividend Score 4/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


12.55%

Current Dividend Yield

Dividend Yield vs Market

Crédit Agricole Dividend Yield vs Market
How does Crédit Agricole dividend yield compare to the market?
SegmentDividend Yield
Company (Crédit Agricole)12.6%
Market Bottom 25% (FR)2.0%
Market Top 25% (FR)6.1%
Industry Average (Banks)9.1%
Analyst forecast in 3 Years (Crédit Agricole)10.1%

Notable Dividend: ACA's dividend (12.55%) is higher than the bottom 25% of dividend payers in the French market (2.03%).

High Dividend: ACA's dividend (12.55%) is in the top 25% of dividend payers in the French market (6.06%)


Stability and Growth of Payments

Stable Dividend: ACA has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: ACA's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Earnings Coverage: With its reasonable payout ratio (63.4%), ACA's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ACA's dividends in 3 years are forecast to be covered by earnings (50.1% payout ratio).


Discover strong dividend paying companies

Management

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

2.1yrs

Average management tenure


CEO

Philippe Brassac (63 yo)

7.42yrs

Tenure

€2,579,418

Compensation

Mr. Philippe Brassac became Chief Executive Officer of Crédit Agricole S.A. on 20 May 2015. He joined Credit Agricole Corporate And Investment Bank, New York Branch in 1982, where he was Head of Organis...


CEO Compensation Analysis

Philippe Brassac's Compensation vs Crédit Agricole Earnings
How has Philippe Brassac's remuneration changed compared to Crédit Agricole's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

€5b

Mar 31 2022n/an/a

€5b

Dec 31 2021€3m€1m

€5b

Sep 30 2021n/an/a

€4b

Jun 30 2021n/an/a

€4b

Mar 31 2021n/an/a

€3b

Dec 31 2020€2m€1m

€3b

Sep 30 2020n/an/a

€4b

Jun 30 2020n/an/a

€4b

Mar 31 2020n/an/a

€4b

Dec 31 2019€2m€1m

€4b

Sep 30 2019n/an/a

€4b

Jun 30 2019n/an/a

€4b

Mar 31 2019n/an/a

€4b

Dec 31 2018€2m€1m

€4b

Sep 30 2018n/an/a

€3b

Jun 30 2018n/an/a

€3b

Mar 31 2018n/an/a

€3b

Jan 01 2018n/an/a

€3b

Sep 30 2017n/an/a

€3b

Jun 30 2017n/an/a

€3b

Mar 31 2017n/an/a

€2b

Dec 31 2016€2m€900k

€2b

Sep 30 2016n/an/a

€2b

Jun 30 2016n/an/a

€2b

Mar 31 2016n/an/a

€2b

Dec 31 2015€1m€554k

€2b

Compensation vs Market: Philippe's total compensation ($USD2.53M) is about average for companies of similar size in the French market ($USD3.59M).

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


Leadership Team

Experienced Management: ACA's management team is considered experienced (2.1 years average tenure).


Board Members

Experienced Board: ACA's board of directors are not considered experienced ( 2.1 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

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


Ownership Breakdown

What is the ownership structure of ACA?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders71,0390.002%
Employee Share Scheme153,517,7025.1%
Institutions372,886,79412.3%
General Public826,975,70127.4%
Private Companies1,669,429,75255.2%

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


Top Shareholders

Top 25 shareholders own 70.25% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
55.23%
Crédit Agricole Group
1,669,429,752€14.0b0%no data
5.08%
Credit Agricole SA, ESOP
153,517,702€1.3b0%no data
1.69%
BlackRock, Inc.
50,977,130€426.4m-2.53%0.01%
1.49%
The Vanguard Group, Inc.
44,922,230€375.7m1.35%0.01%
0.73%
BNPP Asset Management France
22,190,093€185.6m13.72%0.6%
0.72%
Norges Bank Investment Management
21,712,622€181.6m0%0.02%
0.71%
DNCA Finance
21,393,063€178.9m4.79%2.13%
0.55%
Amundi Asset Management
16,632,874€139.1m-2.5%0.04%
0.49%
BNPP Asset Management Holding
14,742,929€123.3m0.1%0.25%
0.47%
Natixis Investment Managers International
14,328,796€119.8m-27%0.48%
0.38%
Fisher Asset Management, LLC
11,345,553€94.9m11.52%0.07%
0.37%
LA Banque Postale Asset Management
11,270,971€94.3m-11.94%0.83%
0.3%
J.P. Morgan Asset Management, Inc.
9,205,973€77.0m-6.67%0.01%
0.29%
Geode Capital Management, LLC
8,883,990€74.3m-2.03%0.01%
0.24%
Aviva Investors Global Services Limited
7,234,634€60.5m-1.44%0.12%
0.22%
Phoenix Unit Trust Managers Limited
6,779,732€56.7m0%1.24%
0.21%
Mirova Société Anonyme
6,345,649€53.1m-0.27%1.68%
0.19%
Deutsche Asset & Wealth Management
5,819,889€48.7m-0.11%0.02%
0.16%
Capfi Delen Asset Management NV
4,968,615€41.6m-0.45%0.26%
0.14%
Dimensional Fund Advisors LP
4,310,892€36.1m18.32%0.01%
0.13%
Eaton Vance Management
3,982,693€33.3m-0.36%0.01%
0.12%
HSBC Global Asset Management (UK) Limited
3,757,175€31.4m0.14%0.03%
0.11%
Sycomore Asset Management SA
3,440,372€28.8m0.36%0.94%
0.11%
Charles Schwab Investment Management, Inc.
3,382,397€28.3m1.16%0.01%
0.096%
UBS Asset Management
2,914,270€24.4m-0.98%no data

Company Information

Crédit Agricole S.A.'s employee growth, exchange listings and data sources


Key Information

  • Name: Crédit Agricole S.A.
  • Ticker: ACA
  • Exchange: ENXTPA
  • Founded: 1894
  • Industry: Diversified Banks
  • Sector: Banks
  • Implied Market Cap: €25.283b
  • Shares outstanding: 3.02b
  • Website: https://www.credit-agricole.com

Number of Employees


Location

  • Crédit Agricole S.A.
  • 12 place des Etats-Unis
  • Cedex
  • Montrouge
  • Ile-de-France
  • 92127
  • France


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CRAR.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDDec 2001
XCADB (Deutsche Boerse AG)YesRegistered SharesDEEURDec 2001
ACAENXTPA (Euronext Paris)YesRegistered SharesFREURDec 2001
0HAILSE (London Stock Exchange)YesRegistered SharesGBEURDec 2001
ACABIT (Borsa Italiana)YesRegistered SharesITEURDec 2001
XCAXTRA (XETRA Trading Platform)YesRegistered SharesDEEURDec 2001
ACAPBATS-CHIXE (BATS 'Chi-X Europe')YesRegistered SharesGBEURDec 2001
ACAWBAG (Wiener Boerse AG)YesRegistered SharesATEURDec 2001
ACAF NBMV (Bolsa Mexicana de Valores)YesRegistered SharesMXMXNDec 2001
CRAR.YOTCPK (Pink Sheets LLC)ADR EA REPR 0.5 ORD EUR3.0USUSDOct 2008
XCAUBST (Boerse-Stuttgart)ADR EA REPR 0.5 ORD EUR3.0DEEUROct 2008
45906221BDL (Bourse de Luxembourg)8.125%-FRN T1 PERP GBP50000 'REGS'LUGBPOct 2009

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/02 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.