ENXTPA:FII

Stock Analysis Report

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Executive Summary

LISI S.A. provides assembly and component solutions for the aerospace, automotive, and medical industries in France and internationally.


Snowflake Analysis

Established dividend payer and good value.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

20.0%

FII

9.1%

FR Aerospace & Defense

5.6%

FR Market


1 Year Return

-35.1%

FII

-40.0%

FR Aerospace & Defense

-8.1%

FR Market

Return vs Industry: FII exceeded the French Aerospace & Defense industry which returned -40% over the past year.

Return vs Market: FII underperformed the French Market which returned -8.2% over the past year.


Shareholder returns

FIIIndustryMarket
7 Day20.0%9.1%5.6%
30 Day15.8%0.03%3.5%
90 Day-36.3%-38.0%-10.2%
1 Year-35.1%-35.1%-40.0%-40.0%-6.5%-8.1%
3 Year-56.6%-57.9%-17.3%-20.1%1.3%-7.0%
5 Year-30.8%-34.8%13.7%5.4%20.5%4.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

46.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FII (€17.14) is trading below our estimate of fair value (€31.85)

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


Price To Earnings Ratio

PE vs Industry: FII is poor value based on its PE Ratio (13.1x) compared to the Aerospace & Defense industry average (13.1x).

PE vs Market: FII is good value based on its PE Ratio (13.1x) compared to the French market (14.7x).


Price to Earnings Growth Ratio

PEG Ratio: FII is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: FII is good value based on its PB Ratio (0.9x) compared to the FR Aerospace & Defense industry average (1.3x).


Next Steps

Future Growth

How is Lisi forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

12.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FII's forecast earnings growth (12.4% per year) is above the savings rate (0.6%).

Earnings vs Market: FII's earnings (12.4% per year) are forecast to grow slower than the French market (13.1% per year).

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

Revenue vs Market: FII's revenue is expected to decline over the next 3 years (-4.9% per year).

High Growth Revenue: FII's revenue is forecast to decline over the next 3 years (-4.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FII's Return on Equity is forecast to be low in 3 years time (8.7%).


Next Steps

Past Performance

How has Lisi performed over the past 5 years?

-1.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FII has a large one-off loss of €44.3M impacting its December 31 2019 financial results.

Growing Profit Margin: FII's current net profit margins (4%) are lower than last year (5.5%).


Past Earnings Growth Analysis

Earnings Trend: FII's earnings have declined by -1.7% per year over the past 5 years.

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

Earnings vs Industry: FII had negative earnings growth (-24.2%) over the past year, making it difficult to compare to the Aerospace & Defense industry average (19.4%).


Return on Equity

High ROE: FII's Return on Equity (7.2%) is considered low.


Next Steps

Financial Health

How is Lisi's financial position?


Financial Position Analysis

Short Term Liabilities: FII's short term assets (€849.7M) exceed its short term liabilities (€451.3M).

Long Term Liabilities: FII's short term assets (€849.7M) exceed its long term liabilities (€528.1M).


Debt to Equity History and Analysis

Debt Level: FII's debt to equity ratio (47.3%) is considered high.

Reducing Debt: FII's debt to equity ratio has increased from 38.7% to 47.3% over the past 5 years.

Debt Coverage: FII's debt is well covered by operating cash flow (46.4%).

Interest Coverage: FII's interest payments on its debt are well covered by EBIT (21.5x coverage).


Balance Sheet


Next Steps

Dividend

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

2.68%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FII's dividend (2.68%) is higher than the bottom 25% of dividend payers in the French market (1.73%).

High Dividend: FII's dividend (2.68%) is low compared to the top 25% of dividend payers in the French market (5.09%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (35.1%), FII's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FII's dividends in 3 years are forecast to be covered by earnings (53.6% payout ratio).


Next Steps

Management

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

16.8yrs

Average board tenure


CEO

Emmanuel Viellard (55yo)

4.17yrs

Tenure

€817,880

Compensation

Mr. Viellard Emmanuel has been the Chief Executive Officer of Lisi SA. He had been an Executive General Manager of the Group and Chief Executive Officer at Lisi SA since March 1, 2016. Mr. Emmanuel serves  ...


CEO Compensation Analysis

Compensation vs Market: Emmanuel's total compensation ($USD909.26K) is about average for companies of similar size in the French market ($USD763.03K).

Compensation vs Earnings: Emmanuel's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Board Members

NamePositionTenureCompensationOwnership
Emmanuel Viellard
CEO, MD4.17yrs€817.88k0.071% 644.1k
Jean-Philippe Kohler
Deputy CEO in charge of Internal Audit & HR Coordination and Representative Director18.33yrs€716.43k0.14% 1.3m
Michel Guignard
VP - Operationsno datano datano data
Lise Nobre
Independent Vice-Chairwomanno data€53.75k0.0016% 14.6k
Patrick Daher
Independent Director11.33yrs€37.50k0.0019% 17.2k
Gilles Kohler
Non-Executive Chairman21.33yrs€58.75k0.16% 1.5m
Thierry Peugeot
Representative Director20.33yrs€39.50k0.00023% 2.1k
Pascal Lebard
Director15.33yrs€33.75k0.000090% 821.2
Isabelle Carrere
Director6.33yrs€34.50k0.0014% 12.9k
Christian Peugeot
Director1.33yrs€25.25k0.000010% 91.2

16.8yrs

Average Tenure

58yo

Average Age

Experienced Board: FII's board of directors are seasoned and experienced ( 16.8 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

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


Key Information

  • Name: Lisi S.A.
  • Ticker: FII
  • Exchange: ENXTPA
  • Founded: 1777
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Market Cap: €912.432m
  • Shares outstanding: 53.23m
  • Website: https://www.lisi-group.com

Number of Employees


Location

  • Lisi S.A.
  • 6 rue JuvEnal Viellard
  • Grandvillars
  • Belfort
  • Franche Comté
  • 90008
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FIIENXTPA (Euronext Paris)YesShare CapitalFREURJan 1992
LSII.FOTCPK (Pink Sheets LLC)YesShare CapitalUSUSDJan 1992
0EKELSE (London Stock Exchange)YesShare CapitalGBEURJan 1992
LI3DB (Deutsche Boerse AG)YesShare CapitalDEEURJan 1992
FIIPBATS-CHIXE (BATS 'Chi-X Europe')YesShare CapitalGBEURJan 1992

Biography

LISI S.A. provides assembly and component solutions for the aerospace, automotive, and medical industries in France and internationally. It operates through three divisions: LISI Aerospace, LISI Automotive, and LISI Medical. The LISI Aerospace division provides window frame structures, corner box, main landing gear bay canted beam and structural components, critical braking parts, sand-off fasteners, lockbolt, pylon structure rib, structural fan guard struds, rectifying fan blades, landing gear beam, critical braking parts, engines blades & vanes, spinner, fan blade leading edges, air intake lips, compass, cylinder body, pressure latches, engine gearbox sprocket, and door stops for commercial aircrafts. This division also provides sleeve, rotating swash plate, rotor rod, fixed swash plate, blade attachment bolt, tail rotor rectifier, push button latch, door latch and landing gear, cargo hook, and shaft nuts for helicopters; and windscreen frame, canopy frame, fan blade, oil tank, and threaded fasteners for fighters. The LISI Automotive division provides simple snap-on fasteners, seat mechanism shafts, double snap-on fasteners, recessed clip nuts, gear base, seat-belt pretensioner engine, seat rail locking system, trim fasteners, clip fasteners, nuts, conrod screw, drain plug, cable raceway, cylinder head bolt, valve spring retainer, electric parking brake screw and nut system, and brake tube fitting. The LISI Medical division offers dental, vascular, upper extremities, lower extremities, traumatology, maxillofacia, and spinal implants, as well as minimally invasive surgery instruments, knee prosthesis and prosthesis, and instruments. The company was formerly known as GFI Industries and changed its name to LISI S.A. in 2002. The company was founded in 1777 and is headquartered in Belfort, France. LISI S.A. is a subsidiary of Compagnie Industrielle De Delle S.A. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/31 21:02
End of Day Share Price2020/05/29 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.