ENXTPA:ACA

Stock Analysis Report

Crédit Agricole

Executive Summary

Crédit Agricole S.A. operates as a central financial institution in France, Italy, other European Union countries, Other European countries, North America, Central and South America, Africa and the Middle East, the Asia Pacific, and Japan.


Snowflake Analysis

Undervalued established dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: ACA's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-14.1%

ACA

-16.9%

FR Banks

-4.6%

FR Market


1 Year Return

-46.9%

ACA

-46.4%

FR Banks

-23.1%

FR Market

Return vs Industry: ACA underperformed the French Banks industry which returned -44% over the past year.

Return vs Market: ACA underperformed the French Market which returned -21.9% over the past year.


Shareholder returns

ACAIndustryMarket
7 Day-14.1%-16.9%-4.6%
30 Day-40.6%-42.0%-23.2%
90 Day-54.1%-54.4%-29.4%
1 Year-43.3%-46.9%-42.3%-46.4%-20.4%-23.1%
3 Year-44.0%-52.1%-53.4%-60.7%-4.9%-13.7%
5 Year-45.8%-57.6%-49.4%-60.7%1.3%-13.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

44.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ACA (€6.02) is trading below our estimate of fair value (€10.78)

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


Price To Earnings Ratio

PE vs Industry: ACA is good value based on its PE Ratio (4x) compared to the Banks industry average (6.6x).

PE vs Market: ACA is good value based on its PE Ratio (4x) compared to the French market (13.2x).


Price to Earnings Growth Ratio

PEG Ratio: ACA is poor value based on its PEG Ratio (22.1x)


Price to Book Ratio

PB vs Industry: ACA is good value based on its PB Ratio (0.3x) compared to the XE Banks industry average (0.5x).


Next Steps

Future Growth

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

0.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ACA's forecast earnings growth (0.2% per year) is above the savings rate (-0.1%).

Earnings vs Market: ACA's earnings (0.2% per year) are forecast to grow slower than the French market (12% per year).

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

Revenue vs Market: ACA's revenue (3.6% per year) is forecast to grow faster than the French market (3.5% per year).

High Growth Revenue: ACA's revenue (3.6% 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 (6.5%).


Next Steps

Past Performance

How has Crédit Agricole performed over the past 5 years?

16.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ACA has high quality earnings.

Growing Profit Margin: ACA's current net profit margins (22.7%) are higher than last year (21.1%).


Past Earnings Growth Analysis

Earnings Trend: ACA's earnings have grown by 16.8% per year over the past 5 years.

Accelerating Growth: ACA's earnings growth over the past year (8.5%) is below its 5-year average (16.8% per year).

Earnings vs Industry: ACA earnings growth over the past year (8.5%) exceeded the Banks industry 2.8%.


Return on Equity

High ROE: ACA's Return on Equity (7.8%) is considered low.


Next Steps

Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: ACA has a low level of unsold assets or inventory.

Debt Coverage by Assets: ACA's debt is covered by short term assets (assets are 1.8x debt).


Financial Institutions Analysis

Asset Level: ACA's level of assets compared to its equity is very high.

Allowance for Bad Loans: ACA has a low allowance for bad loans.

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

Loan Level: ACA has an acceptable proportion of non-loan assets held.

Low Risk Deposits: ACA's loans are broadly funded by customer deposits.

Level of Bad Loans: ACA has a high level of bad loans (2.72%)


Next Steps

Dividend

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

11.63%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: ACA's dividend (11.63%) is higher than the bottom 25% of dividend payers in the French market (2.04%).

High Dividend: ACA's dividend (11.63%) is in the top 25% of dividend payers in the French market (6.46%)


Stability and Growth of Payments

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

Growing Dividend: ACA's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (46.8%), ACA's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ACA's dividends in 3 years are forecast to be well covered by earnings (49.7% payout ratio).


Next Steps

Management

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

4.9yrs

Average management tenure


CEO

Philippe Brassac (60yo)

4.92s

Tenure

€2,214,767

Compensation

Mr. Philippe Brassac serves as Chairman at Credit Agricole Corporate and Investment Bank. He has been the President of Federation Bancaire Francaise since September 01, 2016. Mr. Brassac serves as the Chie ...


CEO Compensation Analysis

Compensation vs Market: Philippe's total compensation ($USD2.39M) is below average for companies of similar size in the French market ($USD4.09M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Philippe Brassac
Chief Executive Officer4.92yrs€2.21mno data
Xavier Musca
Deputy Chief Executive Officer7.75yrs€1.31m0.00063% 109.4k
Jérôme Grivet
Deputy GM & CFO5.25yrsno datano data
Michel Ganzin
Deputy GMno datano datano data
Clotilde L'Angevin
Head of Investor Relations1.25yrsno datano data
Cyril Meilland
Head of Investors Relationsno datano datano data
Pierre Minor
Head of Legal Affairs4.42yrsno datano data
Martine Boutinet
Group Head of Complianceno datano datano data
Denis Marquet
Head of Group Communications9.25yrsno datano data
Bénédicte Chrétien
Group Head of Human Resources4.08yrsno datano data

4.9yrs

Average Tenure

59yo

Average Age

Experienced Management: ACA's management team is considered experienced (4.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Noël Dupuy
Chairman of the Crcam Touraine & Poitou and Director of the Fncano data€42.50kno data
Laurence Dors
Independent Director10.92yrs€64.68k0.000040% 6.9k
Dominique Lefebvre
Chairman of the Board4.42yrs€560.00k0.00015% 26.0k
Véronique Flachaire
Director10.17yrs€45.08k0.000020% 3.5k
Françoise Gri
Independent Director7.92yrs€123.62k0.000070% 12.2k
M. Cazals
Chairman & Director of the CRCAM Toulouse et Midi Toulousainno data€19.80kno data
Pierre Cambefort
Non-Voting Director1.5yrs€8.40kno data
Raphaël Appert
Deputy Chairmanno data€45.01k0.00017% 29.5k
Monica Mondardini
Independent Director9.92yrs€52.32k0.000020% 3.5k
Catherine Pourre
Independent Director2.92yrs€124.00kno data

7.9yrs

Average Tenure

62yo

Average Age

Experienced Board: ACA's board of directors are considered experienced (7.9 years average tenure).


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

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


Top Shareholders

Company Information

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


Key Information

  • Name: Crédit Agricole S.A.
  • Ticker: ACA
  • Exchange: ENXTPA
  • Founded:
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: €17.357b
  • Shares outstanding: 2.88b
  • Website: https://www.credit-agricole.com

Number of Employees


Location

  • Crédit Agricole S.A.
  • 12, place des États-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

Biography

Crédit Agricole S.A. operates as a central financial institution in France, Italy, other European Union countries, Other European countries, North America, Central and South America, Africa and the Middle East, the Asia Pacific, and Japan. It operates through Asset Gathering, French Retail Banking - LCL; International Retail Banking; Specialised Financial Services, and Large Customers segments. The Asset Gathering segment provides life and personal, property and casualty, creditor, and group insurance services; savings solutions for retail clients and investment solutions for institutionals; and wealth management services. The French Retail Banking – LCL segment offers retail banking services for individual customers and small businesses; and private and corporate banking services. The International Retail Banking segment provides retail banking services. The Specialised Financial Services segment offers factoring, and consumer and lease finance services. The Large Customers segment provides corporate banking and structured finance services; custody and fund administration services; and investment banking services comprising mergers and acquisitions consulting, and primary equity advisory services, as well as engages in the capital market activities. The company is based in Montrouge, France. Crédit Agricole S.A. is a subsidiary of SAS Rue La Boétie. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/03 21:22
End of Day Share Price2020/04/03 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.