ENXTPA:EN

Stock Analysis Report

Executive Summary

Bouygues SA, together with its subsidiaries, operates in the construction, telecom, and media sectors in France and internationally.


Snowflake Analysis

Undervalued established dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-0.4%

EN

3.1%

FR Construction

7.1%

FR Market


1 Year Return

-11.1%

EN

-16.9%

FR Construction

-17.6%

FR Market

Return vs Industry: EN exceeded the French Construction industry which returned -16.9% over the past year.

Return vs Market: EN exceeded the French Market which returned -17.6% over the past year.


Shareholder returns

ENIndustryMarket
7 Day-0.4%3.1%7.1%
30 Day-25.1%-25.5%-19.9%
90 Day-26.0%-28.0%-25.9%
1 Year-6.6%-11.1%-14.1%-16.9%-14.8%-17.6%
3 Year-15.3%-25.8%-1.9%-10.8%0.04%-9.2%
5 Year-4.1%-23.6%31.7%10.5%9.6%-6.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Bouygues 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: EN (€28.31) is trading below our estimate of fair value (€58.51)

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


Price To Earnings Ratio

PE vs Industry: EN is good value based on its PE Ratio (8.9x) compared to the Construction industry average (10.9x).

PE vs Market: EN is good value based on its PE Ratio (8.9x) compared to the French market (13.2x).


Price to Earnings Growth Ratio

PEG Ratio: EN is poor value based on its PEG Ratio (1.6x)


Price to Book Ratio

PB vs Industry: EN is good value based on its PB Ratio (1x) compared to the FR Construction industry average (1.1x).


Next Steps

Future Growth

How is Bouygues forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

5.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EN's forecast earnings growth (5.6% per year) is above the savings rate (-0.1%).

Earnings vs Market: EN's earnings (5.6% per year) are forecast to grow slower than the French market (12.6% per year).

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

Revenue vs Market: EN's revenue (1.4% per year) is forecast to grow slower than the French market (3.7% per year).

High Growth Revenue: EN's revenue (1.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: EN's Return on Equity is forecast to be low in 3 years time (11%).


Next Steps

Past Performance

How has Bouygues performed over the past 5 years?

24.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EN has high quality earnings.

Growing Profit Margin: EN's current net profit margins (3.1%) are lower than last year (3.7%).


Past Earnings Growth Analysis

Earnings Trend: EN's earnings have grown significantly by 24.3% per year over the past 5 years.

Accelerating Growth: EN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: EN had negative earnings growth (-9.5%) over the past year, making it difficult to compare to the Construction industry average (9.3%).


Return on Equity

High ROE: EN's Return on Equity (11.2%) is considered low.


Next Steps

Financial Health

How is Bouygues's financial position?


Financial Position Analysis

Short Term Liabilities: EN's short term assets (€19.2B) do not cover its short term liabilities (€19.4B).

Long Term Liabilities: EN's short term assets (€19.2B) exceed its long term liabilities (€8.1B).


Debt to Equity History and Analysis

Debt Level: EN's debt to equity ratio (49.2%) is considered high.

Reducing Debt: EN's debt to equity ratio has reduced from 77.8% to 49.2% over the past 5 years.

Debt Coverage: EN's debt is well covered by operating cash flow (58.1%).

Interest Coverage: EN's interest payments on its debt are well covered by EBIT (6.4x coverage).


Balance Sheet

Inventory Level: EN has a high level of physical assets or inventory.

Debt Coverage by Assets: EN's debt is covered by short term assets (assets are 3.3x debt).


Next Steps

Dividend

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

6.00%

Current Dividend Yield


Upcoming Dividend Payment

TodayMar 29 2020Ex Dividend DateMay 05 2020Dividend Pay DateMay 07 20202 days from Ex DividendBuy in the next 37 days to receive the upcoming dividend

Dividend Yield vs Market

Notable Dividend: EN's dividend (6%) is higher than the bottom 25% of dividend payers in the French market (2.03%).

High Dividend: EN's dividend (6%) is low compared to the top 25% of dividend payers in the French market (6.35%).


Stability and Growth of Payments

Stable Dividend: EN's dividends per share have been stable in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (53.5%), EN's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: EN's dividends in 3 years are forecast to be covered by earnings (50.3% payout ratio).


Next Steps

Management

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

3.6yrs

Average management tenure


CEO

Martin Bouygues (67yo)

30.5s

Tenure

€2,653,522

Compensation

Mr. Martin Bouygues has been the Chief Executive Officer and Chairman at Bouygues SA since September 5, 1989. Mr. Bouygues is employed at Saipem s.a. He serves as Administrator/Chairman and Chief Executive ...


CEO Compensation Analysis

Compensation vs Market: Martin's total compensation ($USD2.94M) is about average for companies of similar size in the French market ($USD3.97M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Martin Bouygues
Chairman & CEO30.5yrs€2.65m0.097% 10.5m
Olivier Bouygues
Deputy CEO & Director35.75yrs€1.48m0.051% 5.5m
Olivier Roussat
Deputy Chief Executive Officer3.58yrs€1.57mno data
Philippe Marien
Deputy Chief Executive Officer3.58yrs€2.62mno data
Pascal Grangé
Senior VP & CFO0.17yrno datano data
Karine Gruson
Investor Relations Directorno datano datano data
Arnauld Van Eeckhout
General Counsel1.75yrsno datano data
Pierre Auberger
Group Corporate Communications Directorno datano datano data
Jean-Manuel Soussan
Senior VP & Human Resources Directorno datano datano data
Gilles Zancanaro
Senior VP of Digital0.17yrno datano data

3.6yrs

Average Tenure

62yo

Average Age

Experienced Management: EN's management team is considered experienced (3.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Martin Bouygues
Chairman & CEO30.5yrs€2.65m0.097% 10.5m
Olivier Bouygues
Deputy CEO & Director35.75yrs€1.48m0.051% 5.5m
Gilles Christian Pélisson
Chairman & CEO of TF14.08yrsno datano data
Philippe Bonnave
Chairman & CEO of Bouygues Construction5yrsno datano data
Helman le de Sécheval
Independent Director11.92yrs€62.40k0.00016% 17.2k
Anne-Marie Idrac
Independent Director7.92yrs€63.52k0.00013% 14.0k
Colette Lewiner
Independent Director9.92yrs€84.00k0.0033% 359.2k
Rose-Marie Van Lerberghe
Independent Director6.92yrs€46.40k0.00014% 15.1k
Michèle Vilain
Director9.92yrs€56.00kno data
Pascal Minault
Chairman of Bouygues Immobilier1.08yrsno datano data

8.9yrs

Average Tenure

66.5yo

Average Age

Experienced Board: EN's board of directors are considered experienced (8.9 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

Bouygues SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bouygues SA
  • Ticker: EN
  • Exchange: ENXTPA
  • Founded: 1952
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: €10.755b
  • Shares outstanding: 379.90m
  • Website: https://www.bouygues.com

Number of Employees


Location

  • Bouygues SA
  • 32, Avenue Hoche
  • Cedex 08
  • Paris
  • Ile-de-France
  • 75008
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BOUY.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
ENENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1992
BYGDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
0HANLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
BYGXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURJan 1992
ENPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
ENSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFJan 1992
ENWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJan 1992
BYGETLX (Eurotlx)YesOrdinary SharesITEURJan 1992
BOUY.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDDec 2008
ENNVENXTPA (Euronext Paris)EUR1 (RFD 01/01/2020)FREURJan 2020

Biography

Bouygues SA, together with its subsidiaries, operates in the construction, telecom, and media sectors in France and internationally. The company designs, builds, and operates structures and facilities; develops residential, office building, retail, and neighborhood projects; constructs and maintains roads and motorways, airport runways, ports, industrial logistics and commercial hubs, external works and amenities, reserved-lane public transport facilities, leisure facilities, and environmental amenities, as well as undertakes civil engineering activities; and produces and recycles construction materials. It also engages in the construction, renewal, and maintenance of rail networks; production and sale of waterproofing and claddings for buildings; manufacture of road safety and signaling equipment; and laying and maintenance of pipes and pipelines. In addition, the company produces TF1, TMC, TFX, TF1, and LCI complementary TV channels; operates TV Breizh, Histoire, Ushuaïa, and Serieclub channels; produces, broadcasts, and distributes content; produces cinemas; operates la seine musicale entertainment and concert venue; and licenses, publishes, and boards games, as well as musical and events. Further, it offers telecom services; mobile and fixed Internet services; and Bbox Miami, an Android box for TV. Bouygues SA was founded in 1952 and is based in Paris, France. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/28 20:44
End of Day Share Price2020/03/27 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.