ENXTPA:ALNSE

Stock Analysis Report

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Executive Summary

NSE S.A. designs, builds, and sells integrated systems for defense, aerospace, electronics, information technology, telecommunications, and large-scale industries in France and internationally. More Details


Snowflake Analysis

Flawless balance sheet and undervalued.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: ALNSE is less volatile than 75% of French stocks over the past 3 months, typically moving +/- 4% a week.

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


Market Performance


7 Day Return

0%

ALNSE

-2.7%

FR Aerospace & Defense

0.7%

FR Market


1 Year Return

6.6%

ALNSE

-21.5%

FR Aerospace & Defense

1.0%

FR Market

Return vs Industry: ALNSE exceeded the French Aerospace & Defense industry which returned -24.9% over the past year.

Return vs Market: ALNSE exceeded the French Market which returned -1.4% over the past year.


Shareholder returns

ALNSEIndustryMarket
7 Day0%-2.7%0.7%
30 Day4.6%38.8%19.1%
90 Day20.2%21.8%11.1%
1 Year8.8%6.6%-21.5%-21.5%3.1%1.0%
3 Year15.7%13.3%9.4%5.9%18.8%8.9%
5 Year14.7%12.4%53.0%42.3%51.6%31.1%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ALNSE (€11.3) is trading below our estimate of fair value (€339.64)

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


Price To Earnings Ratio

PE vs Industry: ALNSE is good value based on its PE Ratio (7x) compared to the FR Aerospace & Defense industry average (24.5x).

PE vs Market: ALNSE is good value based on its PE Ratio (7x) compared to the French market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: ALNSE's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ALNSE is good value based on its PB Ratio (1.3x) compared to the FR Aerospace & Defense industry average (1.7x).


Next Steps

Future Growth

How is NSE forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-2.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ALNSE's earnings are forecast to decline over the next 3 years (-2.4% per year).

Earnings vs Market: ALNSE's earnings are forecast to decline over the next 3 years (-2.4% per year).

High Growth Earnings: ALNSE's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ALNSE's revenue (0.4% per year) is forecast to grow slower than the French market (7.3% per year).

High Growth Revenue: ALNSE's revenue (0.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ALNSE's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has NSE performed over the past 5 years?

64.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ALNSE has a large one-off gain of €2.5M impacting its June 30 2020 financial results.

Growing Profit Margin: ALNSE's current net profit margins (7.2%) are higher than last year (6.2%).


Past Earnings Growth Analysis

Earnings Trend: ALNSE has become profitable over the past 5 years, growing earnings by 64.2% per year.

Accelerating Growth: ALNSE's earnings growth over the past year (16.6%) is below its 5-year average (64.2% per year).

Earnings vs Industry: ALNSE earnings growth over the past year (16.6%) exceeded the Aerospace & Defense industry -36%.


Return on Equity

High ROE: ALNSE's Return on Equity (19%) is considered low.


Next Steps

Financial Health

How is NSE's financial position?


Financial Position Analysis

Short Term Liabilities: ALNSE's short term assets (€51.7M) exceed its short term liabilities (€29.9M).

Long Term Liabilities: ALNSE's short term assets (€51.7M) exceed its long term liabilities (€6.3M).


Debt to Equity History and Analysis

Debt Level: ALNSE's debt to equity ratio (28.6%) is considered satisfactory.

Reducing Debt: ALNSE's debt to equity ratio has reduced from 64.1% to 28.6% over the past 5 years.

Debt Coverage: ALNSE's debt is well covered by operating cash flow (164.5%).

Interest Coverage: ALNSE's interest payments on its debt are well covered by EBIT (16.3x coverage).


Balance Sheet


Next Steps

Dividend

What is NSE current dividend yield, its reliability and sustainability?

1.24%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate ALNSE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ALNSE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ALNSE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ALNSE's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: ALNSE is not paying a notable dividend for the French market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of ALNSE's dividend in 3 years as they are not forecast to pay a notable one for the French market.


Next Steps

Management

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

8.4yrs

Average board tenure


CEO

Philippe Brel

0.75

Tenure

Mr. Philippe Brel serves as Chairman of Executive Board of NSE S.A. since February 3, 2020. He served as Head of Operations Division at Latécoère S.A. since July 2, 2014. Mr. Brel is a qualified engineer a...


Board Members

NamePositionTenureCompensationOwnership
Antoine Lacoste
Member of Executive Board & Director8.42yrsno datano data
Pierre Maillard
Director8.42yrsno datano data
Alain Remuzon
Director8.42yrsno datano data
Lise Cauchy-Lacoste
Director8.42yrsno datano data

8.4yrs

Average Tenure

67.5yo

Average Age

Experienced Board: ALNSE's board of directors are considered experienced (8.4 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

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


Key Information

  • Name: NSE S.A.
  • Ticker: ALNSE
  • Exchange: ENXTPA
  • Founded: 1983
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Market Cap: €35.251m
  • Shares outstanding: 3.15m
  • Website: https://www.nse-groupe.com

Number of Employees


Location

  • NSE S.A.
  • Les Seignes
  • Nizerolles
  • Auvergne
  • 3250
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ALNSEENXTPA (Euronext Paris)YesCommon StockFREURJun 2012

Biography

NSE S.A. designs, builds, and sells integrated systems for defense, aerospace, electronics, information technology, telecommunications, and large-scale industries in France and internationally. The company...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/01 19:47
End of Day Share Price2020/12/01 00:00
Earnings2020/06/30
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.