ENXTPA:PIG

Stock Analysis Report

Executive Summary

Haulotte Group SA, through its subsidiaries, designs, manufactures, and sells people and material lifting equipment.

Snowflake

Fundamentals

Good value with mediocre balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-9.4%

PIG

2.6%

FR Machinery

3.3%

FR Market


1 Year Return

-53.3%

PIG

-8.5%

FR Machinery

9.5%

FR Market

Return vs Industry: PIG underperformed the French Machinery industry which returned -8.5% over the past year.

Return vs Market: PIG underperformed the French Market which returned 9.5% over the past year.


Shareholder returns

PIGIndustryMarket
7 Day-9.4%2.6%3.3%
30 Day-20.2%0.2%1.2%
90 Day-29.0%-2.1%1.1%
1 Year-51.9%-53.3%1.7%-8.5%13.3%9.5%
3 Year-57.0%-59.5%53.2%35.6%43.8%29.9%
5 Year-53.0%-57.0%41.4%24.8%73.4%47.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

23.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: PIG (€5.1) is trading below our estimate of fair value (€6.68)

Significantly Undervalued: PIG is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: PIG is good value based on its PE Ratio (6.5x) compared to the Machinery industry average (11x).

PE vs Market: PIG is good value based on its PE Ratio (6.5x) compared to the French market (17.4x).


Price to Earnings Growth Ratio

Low PEG Ratio: PIG is poor value based on its PEG Ratio (4.2x)


Price to Book Ratio

PB vs Industry: PIG is good value based on its PB Ratio (0.6x) compared to the FR Machinery industry average (1.3x).


Next Steps

Future Growth

How is Haulotte Group forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?

1.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PIG's forecast earnings growth (1.6% per year) is above the savings rate (0.7%).

Earnings vs Market: PIG's earnings (1.6% per year) are forecast to grow slower than the French market (11.4% per year).

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

Revenue vs Market: PIG's revenue (0.5% per year) is forecast to grow slower than the French market (4.5% per year).

High Growth Revenue: PIG's revenue (0.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: PIG's Return on Equity is forecast to be low in 3 years time (7.4%).


Next Steps

Past Performance

How has Haulotte Group performed over the past 5 years?

-4.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: PIG's earnings have declined by -4% per year over the past 5 years.

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

Earnings vs Industry: PIG had negative earnings growth (-4.8%) over the past year, making it difficult to compare to the Machinery industry average (-4.8%).


Return on Equity

High ROE: PIG's Return on Equity (8.7%) is considered low.


Return on Assets

ROA vs Industry: PIG's Return on Assets is below or equal to the Machinery industry average last year.


Return on Capital Employed

ROCE Improving: PIG's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Haulotte Group's financial position?


Financial Position Analysis

Short Term Liabilities: PIG's short term assets (€387.7M) exceeds its short term liabilities (€240.5M)

Long Term Liabilities: PIG's short term assets (387.7M) exceeds its long term liabilities (81.3M)


Debt to Equity History and Analysis

Debt Level: PIG's debt to equity ratio (57%) is considered high

Reducing Debt: PIG's debt to equity ratio has increased from 47.8% to 57% over the past 5 years.

Debt Coverage: PIG's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: PIG's interest payments on its debt are well covered by EBIT (22.5x coverage).


Balance Sheet

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

Debt Coverage by Assets: PIG's debt is covered by short term assets (assets are 2.560360x debt).


Next Steps

Dividend

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

4.31%

Current Dividend Yield


Dividend Yield vs Market

company4.3%marketbottom25%1.5%markettop25%4.6%industryaverage12.5%forecastin3Years5.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: PIG's dividend (4.31%) is higher than the bottom 25% of dividend payers in the French market (1.55%).

High Dividend: PIG's dividend (4.31%) is low compared to the top 25% of dividend payers in the French market (4.58%).

Stable Dividend: PIG's dividend payments have been volatile in the past 10 years.

Growing Dividend: PIG's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (28.2%), PIG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PIG's dividends in 3 years are forecast to be well covered by earnings (29.4% payout ratio).


Next Steps

Management

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

17.1yrs

Average board tenure


CEO

Alexandre Saubot (54yo)

0yrs

Tenure

€428,060

Compensation

Mr. Alexandre Saubot serves as the Chief Operating Officer of Haulotte Group at Haulotte UK Ltd. Mr. Saubot serves as the President of Royans Levage S.A.S. He serves as Chief Executive Officer of Haulotte  ...


CEO Compensation Analysis

Compensation vs. Market: Alexandre's total compensation ($USD473.57K) is above average for companies of similar size in the French market ($USD354.34K).

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


Board Age and Tenure

17.1yrs

Average Tenure

67yo

Average Age

Experienced Board: PIG's board of directors are seasoned and experienced ( 17.1 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


Management Team

  • Alexandre Saubot (54yo)

    CEO & Executive Director

    • Tenure: 0yrs
    • Compensation: €428.06k
  • Philippe Noblet

    Corporate Secretary

    • Tenure: 0yrs
  • Patrice Métairie

    Chief Operating Officer

    • Tenure: 0yrs
  • Sébastien Martineau

    Financial Officer

    • Tenure: 6.8yrs
  • Stéphane Hubert

    Chief Strategic

    • Tenure: 0yrs
  • Patrick Murris

    Managing Director of Zone Europe & Africa

    • Tenure: 0yrs
  • Damien Gautier

    Managing Director of Asia

    • Tenure: 0yrs
  • Carlos Hernandez

    Managing Director of Zone Americas

    • Tenure: 0yrs

Board Members

  • Pierre Saubot (76yo)

    Chairman

    • Tenure: 30.8yrs
    • Compensation: €91.37k
  • Alexandre Saubot (54yo)

    CEO & Executive Director

    • Tenure: 0yrs
    • Compensation: €428.06k
  • José Monfront (67yo)

    Director

    • Tenure: 15.1yrs
  • Elisa Saubot

    Director

    • Tenure: 21.8yrs
    • Compensation: €59.48k
  • Michel Bouton (67yo)

    Independent Director

    • Tenure: 18.8yrs
  • Hadrien Saubot (39yo)

    Director

    • Tenure: 15.4yrs
    • Compensation: €56.98k
  • Anne Fatôme

    Independent Director

    • Tenure: 1.4yrs
  • Elodie Galko

    Independent Director

    • Tenure: 1.4yrs

Company Information

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


Key Information

  • Name: Haulotte Group SA
  • Ticker: PIG
  • Exchange: ENXTPA
  • Founded: 1881
  • Industry: Construction Machinery and Heavy Trucks
  • Sector: Capital Goods
  • Market Cap: €150.563m
  • Shares outstanding: 29.52m
  • Website: https://www.haulotte.com

Number of Employees


Location

  • Haulotte Group SA
  • La Péronnière
  • BP9
  • L'Horme
  • Rhône-Alpes
  • 42152
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PIGENXTPA (Euronext Paris)YesOrdinary SharesFREURDec 1998
0HVALSE (London Stock Exchange)YesOrdinary SharesGBEURDec 1998
PIGPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURDec 1998
PHTDB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 1998

Biography

Haulotte Group SA, through its subsidiaries, designs, manufactures, and sells people and material lifting equipment. It operates through Manufacturing and Sale of Equipment; Equipment Rental; and Services  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 20:39
End of Day Share Price2019/10/16 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.