ENXTPA:FGR

Stock Analysis Report

Executive Summary

Eiffage SA engages in the construction, infrastructure, energy systems, and concessions businesses in France and internationally.

Snowflake

Fundamentals

Established dividend payer with proven track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: FGR has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.3%

FGR

-0.8%

FR Construction

0.02%

FR Market


1 Year Return

16.1%

FGR

25.6%

FR Construction

18.9%

FR Market

Return vs Industry: FGR underperformed the French Construction industry which returned 25.6% over the past year.

Return vs Market: FGR underperformed the French Market which returned 18.9% over the past year.


Shareholder returns

FGRIndustryMarket
7 Day1.3%-0.8%0.02%
30 Day5.9%3.3%4.7%
90 Day8.3%5.0%7.3%
1 Year19.2%16.1%29.9%25.6%22.9%18.9%
3 Year72.5%61.5%68.7%52.9%49.5%35.3%
5 Year177.1%148.1%130.7%93.4%66.7%43.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

4.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FGR (€100.75) is trading below our estimate of fair value (€105.19)

Significantly Below Fair Value: FGR is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: FGR is good value based on its PE Ratio (13.8x) compared to the Construction industry average (15.8x).

PE vs Market: FGR is good value based on its PE Ratio (13.8x) compared to the French market (17.8x).


Price to Earnings Growth Ratio

PEG Ratio: FGR is poor value based on its PEG Ratio (1.8x)


Price to Book Ratio

PB vs Industry: FGR is overvalued based on its PB Ratio (2x) compared to the FR Construction industry average (1.7x).


Next Steps

Future Growth

How is Eiffage forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

7.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FGR's forecast earnings growth (7.8% per year) is above the savings rate (0.7%).

Earnings vs Market: FGR's earnings (7.8% per year) are forecast to grow slower than the French market (11.6% per year).

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

Revenue vs Market: FGR's revenue (1.9% per year) is forecast to grow slower than the French market (4.6% per year).

High Growth Revenue: FGR's revenue (1.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FGR's Return on Equity is forecast to be low in 3 years time (14.5%).


Next Steps

Past Performance

How has Eiffage performed over the past 5 years?

20.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FGR has high quality earnings.

Growing Profit Margin: FGR's current net profit margins (3.9%) are higher than last year (3.7%).


Past Earnings Growth Analysis

Earnings Trend: FGR's earnings have grown significantly by 20.9% per year over the past 5 years.

Accelerating Growth: FGR's earnings growth over the past year (18.6%) is below its 5-year average (20.9% per year).

Earnings vs Industry: FGR earnings growth over the past year (18.6%) exceeded the Construction industry 2.1%.


Return on Equity

High ROE: FGR's Return on Equity (18.9%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Eiffage's financial position?


Financial Position Analysis

Short Term Liabilities: FGR's short term assets (€12.7B) do not cover its short term liabilities (€13.4B)

Long Term Liabilities: FGR's short term assets (€12.7B) do not cover its long term liabilities (12.9B)


Debt to Equity History and Analysis

Debt Level: FGR's debt to equity ratio (256.2%) is considered high.

Reducing Debt: FGR's debt to equity ratio has reduced from 564.2% to 256.2% over the past 5 years.

Debt Coverage: FGR's debt is not well covered by operating cash flow (13%).

Interest Coverage: FGR's interest payments on its debt are well covered by EBIT (6.7x coverage).


Balance Sheet

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

Debt Coverage by Assets: FGR's debt is not covered by short term assets (assets are 0.9x debt).


Next Steps

Dividend

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

2.38%

Current Dividend Yield


Dividend Yield vs Market

company2.4%marketbottom25%1.5%markettop25%4.5%industryaverage3.0%forecastin3Years3.0%

Current dividend yield vs market & industry

Notable Dividend: FGR's dividend (2.38%) is higher than the bottom 25% of dividend payers in the French market (1.49%).

High Dividend: FGR's dividend (2.38%) is low compared to the top 25% of dividend payers in the French market (4.47%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (33%), FGR's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FGR's dividends in 3 years are forecast to be well covered by earnings (37.1% payout ratio).


Next Steps

Management

What is the CEO of Eiffage's salary, the management and board of directors tenure and is there insider trading?

3.8yrs

Average management tenure


CEO

Benoit de Ruffray (53yo)

3.8yrs

Tenure

€3,832,200

Compensation

Mr. Benoit de Ruffray has been the Chairman and Chief Executive Officer of Eiffage SA since January 18, 2016. Mr. de Ruffray served as Chief Executive Officer of Soletanche Freyssinet SAS at VINCI SA from  ...


CEO Compensation Analysis

Compensation vs Market: Benoit's total compensation ($USD4.25M) is about average for companies of similar size in the French market ($USD3.58M).

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


Management Age and Tenure

3.8yrs

Average Tenure

54yo

Average Age

Experienced Management: FGR's management team is considered experienced (3.8 years average tenure).


Board Age and Tenure

5.1yrs

Average Tenure

64yo

Average Age

Experienced Board: FGR's board of directors are considered experienced (5.1 years average tenure).


Insider Trading

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.


Management Team

  • J. Nourry (61yo)

    Chairman of Motorway Concessions in France

    • Tenure: 0yrs
  • Benoit de Ruffray (53yo)

    Chairman & CEO

    • Tenure: 3.8yrs
    • Compensation: €3.83m
  • Christian Cassayre (54yo)

    Chief Financial Officer

    • Tenure: 8.3yrs
  • Olivier Genis

    Chairman of the Construction Division

    • Tenure: 2.8yrs
  • Laurent Girou

    Managing Director at Eiffage Route

    • Tenure: 0yrs
  • Valérie David

    Head of Sustainable Development & Transversal Innovation

    • Tenure: 0yrs
  • Claudine Font

    Head of Social & Human Development

    • Tenure: 0yrs
  • Erick Lemonnier

    Head of Risk Prevention - Eiffage Infrastructures

    • Tenure: 0yrs
  • Patrick Colin

    Head of Quality

    • Tenure: 0yrs
  • Xavier Julien

    Head of Risk Prevention - Eiffage Construction

    • Tenure: 0yrs

Board Members

  • Bruno Flichy (81yo)

    Non-Independent Director

    • Tenure: 2.6yrs
    • Compensation: €75.00k
  • Jean-François Roverato (75yo)

    Vice-Chairman & Senior Director

    • Tenure: 3.8yrs
    • Compensation: €290.00k
  • Dominique Marcel (64yo)

    Independent Director

    • Tenure: 11.4yrs
    • Compensation: €45.00k
  • Benoit de Ruffray (53yo)

    Chairman & CEO

    • Tenure: 3.8yrs
    • Compensation: €3.83m
  • Thérèse Cornil (76yo)

    Independent Director

    • Tenure: 8.8yrs
    • Compensation: €60.00k
  • Jean Guénard (72yo)

    Independent Director

    • Tenure: 8.2yrs
    • Compensation: €60.00k
  • Carol Xueref (64yo)

    Independent Director

    • Tenure: 5.6yrs
    • Compensation: €54.00k
  • Laurent Dupont (54yo)

    Director

    • Tenure: 7.6yrs
    • Compensation: €60.00k
  • Guillaume Sauvé (47yo)

    Chairman of Eiffage Génie Civil & Chairman of Eiffage Métal

    • Tenure: 0.8yrs
  • Isabelle Salaün (58yo)

    Independent Director

    • Tenure: 4.6yrs
    • Compensation: €60.00k

Company Information

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


Key Information

  • Name: Eiffage SA
  • Ticker: FGR
  • Exchange: ENXTPA
  • Founded: 1920
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: €9.812b
  • Shares outstanding: 97.39m
  • Website: https://www.eiffage.com

Number of Employees


Location

  • Eiffage SA
  • 3-7, place de l’Europe
  • Vélizy-Villacoublay
  • Ile-de-France
  • 78140
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FGRENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1992
EF3DB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
0NPTLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
EFGS.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
FGRPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
EFGS.YOTCPK (Pink Sheets LLC)ADRUSUSDOct 2008

Biography

Eiffage SA engages in the construction, infrastructure, energy systems, and concessions businesses in France and internationally. The company’s Construction segment offers urban development, building desig ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/19 20:58
End of Day Share Price2019/11/19 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.