ENXTPA:LAT

Stock Analysis Report

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Executive Summary

Latécoère S.A. designs, develops, manufactures, and supports aerostructures and interconnection systems in Europe, the United States, Asia, and internationally. More Details


Snowflake Analysis

Excellent balance sheet with concerning outlook.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: LAT is more volatile than 75% of French stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: LAT's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of French stocks.


Market Performance


7 Day Return

-0.5%

LAT

1.6%

FR Aerospace & Defense

0.8%

FR Market


1 Year Return

-46.0%

LAT

-24.6%

FR Aerospace & Defense

-2.7%

FR Market

Return vs Industry: LAT underperformed the French Aerospace & Defense industry which returned -26% over the past year.

Return vs Market: LAT underperformed the French Market which returned -3.4% over the past year.


Shareholder returns

LATIndustryMarket
7 Day-0.5%1.6%0.8%
30 Day77.8%31.3%11.0%
90 Day14.7%26.7%10.1%
1 Year-46.0%-46.0%-24.6%-24.6%-0.7%-2.7%
3 Year-61.6%-61.6%13.6%10.0%17.3%7.7%
5 Year-49.0%-49.0%51.7%41.3%45.4%25.6%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

1.97x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: LAT (€2.08) is trading above our estimate of fair value (€1.43)

Significantly Below Fair Value: LAT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: LAT is unprofitable, so we can't compare its PE Ratio to the FR Aerospace & Defense industry average.

PE vs Market: LAT is unprofitable, so we can't compare its PE Ratio to the French market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate LAT's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: LAT is overvalued based on its PB Ratio (2x) compared to the FR Aerospace & Defense industry average (1.8x).


Next Steps

Future Growth

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

85.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LAT is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: LAT is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: LAT is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: LAT's revenue (8% per year) is forecast to grow faster than the French market (7.2% per year).

High Growth Revenue: LAT's revenue (8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LAT is forecast to be unprofitable in 3 years.


Next Steps

Past Performance

How has Latécoère performed over the past 5 years?

-48.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LAT is currently unprofitable.

Growing Profit Margin: LAT is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: LAT is unprofitable, and losses have increased over the past 5 years at a rate of 48.2% per year.

Accelerating Growth: Unable to compare LAT's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: LAT is unprofitable, making it difficult to compare its past year earnings growth to the Aerospace & Defense industry (-36%).


Return on Equity

High ROE: LAT has a negative Return on Equity (-121.12%), as it is currently unprofitable.


Next Steps

Financial Health

How is Latécoère's financial position?


Financial Position Analysis

Short Term Liabilities: LAT's short term assets (€328.4M) exceed its short term liabilities (€284.8M).

Long Term Liabilities: LAT's short term assets (€328.4M) exceed its long term liabilities (€155.8M).


Debt to Equity History and Analysis

Debt Level: LAT's debt to equity ratio (153.3%) is considered high.

Reducing Debt: LAT's debt to equity ratio has reduced from 336.2% to 153.3% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable LAT has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: LAT is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 38.3% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

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

High Dividend: Unable to evaluate LAT'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 LAT's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of LAT'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?

0.8yrs

Average management tenure


CEO

Philip Swash (56 yo)

0.67

Tenure

Mr. Philip Antony Swash serves as Chief Executive Officer at Latécoère S.A. since 2020 and was its Group Chief Executive Officer since March 17, 2020 until 2020. He serves as Director at Latécoère S.A. sin...


Leadership Team

NamePositionTenureCompensationOwnership
Philip Swash
CEO & Director0.67yrno datano data
Michel Abaza
Group Chief Financial Officer1.83yrsno datano data
Thierry Mootz
Deputy CEO & GM of the Interconnection Systems Divisionno datano datano data
Serge Berenger
Chief Research & Technology Officer0.83yrno datano data
Thierry Mahe
Communication Directorno datano datano data
Herve Schembri
Vice President of Marketing & Strategyno datano datano data
Hervé Blanchard
Group Human Resources Directorno datano datano data
Raphael Bolzan
Senior Vice President of American Affairesno datano datano data
Christian Beugnet
Company Secretaryno data€7.50kno data
Jean-Louis Peltriaux
Cost Control Managerno data€105.94k0.000010%
€ 19.1

0.8yrs

Average Tenure

56yo

Average Age

Experienced Management: LAT's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Philip Swash
CEO & Director0.67yrno datano data
Pierre Gadonneix
Independent Chairman of the Board5.17yrs€200.00kno data
Laurence Dors
Independent Director0.42yrno datano data
Caroline Catoire
Director0.67yrno datano data
Christophe Villemin
Director0.67yr€26.50kno data
Helen Bouygues
Director1.42yrs€36.50kno data
Ralf Ackermann
Director1.42yrsno datano data
Valérie Boyer
Representing Employees Director2.5yrs€53.37kno data

1.1yrs

Average Tenure

54yo

Average Age

Experienced Board: LAT's board of directors are not considered experienced ( 1.1 years average tenure), which suggests a new board.


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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

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


Key Information

  • Name: Latécoère S.A.
  • Ticker: LAT
  • Exchange: ENXTPA
  • Founded: 1917
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Market Cap: €190.524m
  • Shares outstanding: 94.79m
  • Website: https://www.latecoere.aero

Number of Employees


Location

  • Latécoère S.A.
  • 135, rue de Periole
  • BP 25211
  • Toulouse
  • Midi-Pyrénées
  • 31079
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LATENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1992
0IXTLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
LATPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
12JDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992

Biography

Latécoère S.A. designs, develops, manufactures, and supports aerostructures and interconnection systems in Europe, the United States, Asia, and internationally. The company operates through two segments, A...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/25 21:05
End of Day Share Price2020/11/24 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.