Safran
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Safran SA, together with its subsidiaries, engages in the aerospace and defense businesses worldwide. The last earnings update was 20 days ago. More info.
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SAF Share Price and Events
7 Day Returns
1 Year Returns
SAF Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Safran (SAF) | 1.4% | 4.8% | 12.4% | 37.4% | 103.6% | 158.2% |
| FR Aerospace & Defense | 1.3% | 1.1% | 18.6% | 21% | 85.9% | 125.8% |
| FR Market | 1.3% | 3.8% | 14.3% | 3.6% | 28.9% | 33.6% |
1 Year Return vs Industry and Market
- SAF outperformed the Aerospace & Defense industry which returned 21% over the past year.
- SAF outperformed the Market in France which returned 3.6% over the past year.
SAF Value
Is Safran undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
Safran
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Safran.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 19 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 7.3% |
| Perpetual Growth Rate | 10-Year FR Government Bond Rate | 0.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year FR Govt Bond Rate | 0.7% |
| Equity Risk Premium | S&P Global | 6.7% |
| Aerospace & Defense Unlevered Beta | Simply Wall St/ S&P Global | 0.91 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.912 (1 + (1- 33%) (11.57%)) |
0.989 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
0.99 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (0.989 * 6.65%) |
7.31% |
Discounted Cash Flow Calculation for ENXTPA:SAF using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for Safran is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.
| Levered FCF (EUR, Millions) | Source |
Present Value Discounted (@ 7.31%) |
|
|---|---|---|---|
| 2019 | 1,989.36 | Analyst x11 | 1,853.89 |
| 2020 | 2,583.62 | Analyst x11 | 2,243.71 |
| 2021 | 2,840.50 | Analyst x8 | 2,298.81 |
| 2022 | 3,381.60 | Analyst x5 | 2,550.35 |
| 2023 | 3,625.00 | Analyst x1 | 2,547.73 |
| 2024 | 3,809.39 | Est @ 5.09% | 2,495.00 |
| 2025 | 3,953.40 | Est @ 3.78% | 2,412.99 |
| 2026 | 4,066.71 | Est @ 2.87% | 2,313.11 |
| 2027 | 4,157.25 | Est @ 2.23% | 2,203.58 |
| 2028 | 4,231.18 | Est @ 1.78% | 2,090.03 |
| Present value of next 10 years cash flows | €23,009.20 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= €4,231.18 × (1 + 0.73%) ÷ (7.31% – 0.73%) |
€64,827.38 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= €64,827.38 ÷ (1 + 7.31%)10 |
€32,022.14 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= €23,009.20 + €32,022.14 |
€55,031.34 |
| Equity Value per Share (EUR) |
= Total value / Shares Outstanding
= €55,031.34 / 432.41 |
€127.27 |
| Calculation | Result | |
|---|---|---|
| Value per share (EUR) | From above. | €127.27 |
| Current discount | Discount to share price of
€123.75
= -1 x (€123.75 - €127.27) / €127.27 |
2.8% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- Safran's share price is below the future cash flow value, but not at a moderate discount (< 20%).
- Safran's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for Safran's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
Safran's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in EUR | €2.98 |
| ENXTPA:SAF Share Price ** | ENXTPA (2019-04-18) in EUR | €123.75 |
| France Aerospace & Defense Industry PE Ratio | Median Figure of 9 Publicly-Listed Aerospace & Defense Companies | 16.73x |
| France Market PE Ratio | Median Figure of 418 Publicly-Listed Companies | 16.34x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Safran.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = ENXTPA:SAF Share Price ÷ EPS (both in EUR) = 123.75 ÷ 2.98 |
41.56x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Safran is overvalued based on earnings compared to the FR Aerospace & Defense industry average.
- Safran is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does
Safran's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 41.56x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts |
20.1%per year |
| France Aerospace & Defense Industry PEG Ratio | Median Figure of 7 Publicly-Listed Aerospace & Defense Companies | 1.7x |
| France Market PEG Ratio | Median Figure of 273 Publicly-Listed Companies | 1.51x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 41.56x ÷ 20.1% |
2.06x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Safran is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
Safran's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in EUR | €27.53 |
| ENXTPA:SAF Share Price * | ENXTPA (2019-04-18) in EUR | €123.75 |
| France Aerospace & Defense Industry PB Ratio | Median Figure of 12 Publicly-Listed Aerospace & Defense Companies | 2.05x |
| France Market PB Ratio | Median Figure of 619 Publicly-Listed Companies | 1.49x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = ENXTPA:SAF Share Price ÷ Book Value per Share (both in EUR) = 123.75 ÷ 27.53 |
4.5x |
* Primary Listing of Safran.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Safran is overvalued based on assets compared to the FR Aerospace & Defense industry average.
Value checks
We assess Safran's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check) Safran has a total score of 0/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
SAF Future Performance
How is Safran expected to perform in the next 1 to 3 years based on estimates from 19 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- Safran's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
- Safran's earnings growth is expected to exceed the France market average.
- Safran's revenue growth is expected to exceed the France market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| ENXTPA:SAF Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts | 20.1% |
| ENXTPA:SAF Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 19 Analysts | 5.6% |
| France Aerospace & Defense Industry Earnings Growth Rate | Market Cap Weighted Average | 17.3% |
| France Aerospace & Defense Industry Revenue Growth Rate | Market Cap Weighted Average | 5.5% |
| France Market Earnings Growth Rate | Market Cap Weighted Average | 13.4% |
| France Market Revenue Growth Rate | Market Cap Weighted Average | 4.9% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 19 Analyst Estimates (S&P Global) | See Below |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 28,025 | 5,378 | 4,597 | 2 |
| 2022-12-31 | 26,701 | 4,984 | 3,768 | 8 |
| 2021-12-31 | 25,536 | 4,574 | 3,021 | 13 |
| 2020-12-31 | 24,371 | 4,217 | 2,716 | 19 |
| 2019-12-31 | 23,006 | 3,550 | 2,282 | 19 |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 21,176 | 3,071 | 1,283 |
| 2018-09-30 | 19,536 | 3,073 | 1,545 |
| 2018-06-30 | 18,460 | 2,869 | 2,054 |
| 2018-03-31 | 17,770 | 2,805 | 3,011 |
| 2017-12-31 | 16,516 | 2,946 | 3,720 |
| 2017-09-30 | 16,519 | 2,699 | 3,163 |
| 2017-06-30 | 16,329 | 2,650 | 2,492 |
| 2017-03-31 | 16,475 | 2,652 | 2,164 |
| 2016-12-31 | 16,621 | 2,654 | 1,836 |
| 2016-06-30 | 15,964 | 3,081 | 1,536 |
| 2016-03-31 | 16,168 | 2,917 | 543 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (3 months ago) | See Below |
| Future Estimates | Average of up to 19 Analyst Estimates (S&P Global) | See Below |
All data from Safran Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | 11.44 | 11.44 | 11.44 | 1.00 |
| 2022-12-31 | 8.87 | 10.66 | 7.74 | 3.00 |
| 2021-12-31 | 7.16 | 9.86 | 5.10 | 7.00 |
| 2020-12-31 | 6.40 | 9.12 | 4.40 | 13.00 |
| 2019-12-31 | 5.22 | 5.86 | 3.50 | 13.00 |
| Date (Data in EUR Millions) | EPS * |
|---|---|
| 2018-12-31 | 2.98 |
| 2018-09-30 | 3.63 |
| 2018-06-30 | 4.90 |
| 2018-03-31 | 7.26 |
| 2017-12-31 | 9.07 |
| 2017-09-30 | 7.68 |
| 2017-06-30 | 6.02 |
| 2017-03-31 | 5.21 |
| 2016-12-31 | 4.41 |
| 2016-06-30 | 3.69 |
| 2016-03-31 | 1.30 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess Safran's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the France market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Safran has a total score of 5/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
SAF Past Performance
How has Safran performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- Safran has delivered over 20% year on year earnings growth in the past 5 years.
- Safran's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- Safran's 1-year earnings growth is negative, it can't be compared to the FR Aerospace & Defense industry average.
Earnings and Revenue History
All data from Safran Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 21,176.00 | 1,283.00 | 5,681.00 | |
| 2018-09-30 | 19,536.00 | 1,544.50 | 5,295.00 | |
| 2018-06-30 | 18,460.00 | 2,054.00 | 4,854.00 | |
| 2018-03-31 | 17,770.00 | 3,011.00 | 4,586.00 | |
| 2017-12-31 | 16,516.00 | 3,720.00 | 4,373.00 | |
| 2017-09-30 | 16,519.00 | 3,162.50 | 4,314.00 | |
| 2017-06-30 | 16,329.00 | 2,492.00 | 4,309.00 | |
| 2017-03-31 | 16,475.00 | 2,164.00 | 4,375.50 | |
| 2016-12-31 | 16,621.00 | 1,836.00 | 4,442.00 | |
| 2016-06-30 | 15,964.00 | 1,536.00 | 4,376.00 | |
| 2016-03-31 | 16,167.50 | 543.00 | 4,481.00 | |
| 2015-12-31 | 16,371.00 | -450.00 | 4,586.00 | |
| 2015-09-30 | 17,599.50 | -688.50 | 5,041.50 | |
| 2015-06-30 | 16,934.00 | -953.00 | 4,962.00 | |
| 2015-03-31 | 16,064.50 | -539.50 | 4,879.00 | |
| 2014-12-31 | 15,195.00 | -126.00 | 4,796.00 | |
| 2014-09-30 | 14,805.00 | 704.00 | 4,728.50 | |
| 2014-06-30 | 14,415.00 | 1,550.00 | 4,654.00 | |
| 2014-03-31 | 14,354.50 | 1,468.00 | 4,589.00 | |
| 2013-12-31 | 14,294.00 | 1,386.00 | 4,524.00 | |
| 2013-09-30 | 14,283.50 | 1,410.00 | 4,462.50 | |
| 2013-06-30 | 14,132.00 | 1,434.00 | 4,362.00 | |
| 2013-03-31 | 13,935.50 | 1,358.00 | 4,301.00 | |
| 2012-12-31 | 13,739.00 | 1,282.00 | 4,240.00 | |
| 2012-06-30 | 12,708.00 | -81.00 | 4,158.00 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- Safran has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- Safran used its assets less efficiently than the FR Aerospace & Defense industry average last year based on Return on Assets.
- Safran's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess Safran's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
Safran has a total score of 1/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
SAF Health
How is Safran's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up Safran's finances.
The net worth of a company is the difference between its assets and liabilities.
- Safran's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- Safran's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- High level of physical assets or inventory.
- Debt is covered by short term assets, assets are 2.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from Safran Company Filings, last reported 3 months ago.
| Date (Data in EUR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 12,301.00 | 6,190.00 | 2,515.00 |
| 2018-09-30 | 12,301.00 | 6,190.00 | 2,515.00 |
| 2018-06-30 | 10,796.00 | 6,535.00 | 2,507.00 |
| 2018-03-31 | 10,796.00 | 6,535.00 | 2,507.00 |
| 2017-12-31 | 9,648.00 | 5,205.00 | 7,027.00 |
| 2017-09-30 | 10,624.00 | 5,205.00 | 7,027.00 |
| 2017-06-30 | 9,239.00 | 5,918.00 | 6,962.00 |
| 2017-03-31 | 9,239.00 | 5,918.00 | 6,962.00 |
| 2016-12-31 | 6,809.00 | 4,036.00 | 2,073.00 |
| 2016-06-30 | 7,259.00 | 4,171.00 | 2,505.00 |
| 2016-03-31 | 7,259.00 | 4,171.00 | 2,505.00 |
| 2015-12-31 | 5,893.00 | 3,336.00 | 2,092.00 |
| 2015-09-30 | 5,893.00 | 3,336.00 | 2,092.00 |
| 2015-06-30 | 6,357.00 | 4,024.00 | 2,273.00 |
| 2015-03-31 | 6,357.00 | 4,024.00 | 2,273.00 |
| 2014-12-31 | 6,491.00 | 3,878.00 | 1,854.00 |
| 2014-09-30 | 6,478.00 | 3,878.00 | 1,854.00 |
| 2014-06-30 | 7,236.00 | 3,994.00 | 1,780.00 |
| 2014-03-31 | 7,236.00 | 3,994.00 | 1,780.00 |
| 2013-12-31 | 6,813.00 | 3,442.00 | 1,752.00 |
| 2013-09-30 | 6,814.00 | 3,436.00 | 1,880.00 |
| 2013-06-30 | 6,167.00 | 3,544.00 | 1,868.00 |
| 2013-03-31 | 6,167.00 | 3,544.00 | 1,868.00 |
| 2012-12-31 | 5,997.00 | 3,857.00 | 2,369.00 |
| 2012-06-30 | 5,443.00 | 3,781.00 | 2,090.00 |
- Safran's level of debt (50.3%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has been reduced over the past 5 years (50.6% vs 50.3% today).
- Debt is well covered by operating cash flow (49.6%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 31.8x coverage).
Financial health checks
We assess Safran's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Safran has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
SAF Dividends
What is Safran's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
€2,000 of
Safran
shares you are expected to receive
€29
in your first year as a dividend.
Dividend Amount
- Safran's pays a lower dividend yield than the bottom 25% of dividend payers in France (1.56%).
- Safran's dividend is below the markets top 25% of dividend payers in France (4.36%).
Upcoming dividend payment
Purchase Safran before the 'Buy Limit' to receive their next dividend payment.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 19 Analyst Estimates (S&P Global) | See Below |
| France Aerospace & Defense Industry Average Dividend Yield | Market Cap Weighted Average of 7 Stocks | 1.5% |
| France Market Average Dividend Yield | Market Cap Weighted Average of 324 Stocks | 2.9% |
| France Minimum Threshold Dividend Yield | 10th Percentile | 0.9% |
| France Bottom 25% Dividend Yield | 25th Percentile | 1.6% |
| France Top 25% Dividend Yield | 75th Percentile | 4.4% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in €) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | 3.66 | 1.00 |
| 2022-12-31 | 3.02 | 7.00 |
| 2021-12-31 | 2.91 | 13.00 |
| 2020-12-31 | 2.52 | 21.00 |
| 2019-12-31 | 2.17 | 22.00 |
| Date (Data in €) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-04-01 | 1.820 | 1.484 |
| 2019-02-27 | 1.820 | 1.523 |
| 2018-05-25 | 1.600 | 1.470 |
| 2017-03-31 | 1.520 | 1.793 |
| 2017-02-24 | 1.520 | 2.216 |
| 2016-12-15 | 1.330 | 2.018 |
| 2016-02-25 | 1.380 | 2.239 |
| 2015-12-17 | 1.240 | 2.166 |
| 2015-04-24 | 1.200 | 1.816 |
| 2014-12-18 | 1.200 | 1.985 |
| 2014-05-30 | 1.120 | 2.296 |
| 2013-12-11 | 1.130 | 2.256 |
| 2013-05-28 | 0.960 | 2.183 |
| 2012-12-12 | 0.680 | 1.934 |
| 2012-02-23 | 0.740 | 2.637 |
| 2011-08-05 | 0.500 | 2.112 |
| 2011-07-29 | 0.500 | 1.836 |
| 2011-04-21 | 0.500 | 1.791 |
| 2010-02-25 | 0.380 | 1.717 |
| 2009-04-24 | 0.250 | 2.199 |
| 2009-04-22 | 0.250 | 2.763 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of
Safran's earnings are
paid
to the shareholders as a dividend.
- Dividends paid are covered by earnings (1.6x coverage).
- Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
Income/ dividend checks
We assess Safran's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can Safran afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) Safran has a total score of 4/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
SAF Management
CEO
| COMPENSATION | €2,413,073 |
| AGE | 66 |
| TENURE AS CEO | 4 years |
CEO Bio
Mr. Philippe Petitcolin has been the Chief Executive Officer and Director of Safran SA since April 23, 2015. He began his career in 1978 as an export manager for Europrim before becoming an export area manager for Filotex, a subsidiary of Alcatel-Alstom. In 1982 he was appointed Aviation Sales Director for Chester Cable in the United States before returning to Filotex in 1984 as Export Director. In 1988, he joined Labinal as Deputy Sales Director before being appointed Sales and Marketing Director of the company’s Aeronautical Systems Division and subsequently its Managing Director in 1995. Between 1999 and 2001, he was General Manager of Labinal's Filtrauto Division, also serving as General Manager of the friction materials business after the division was bought by Valeo. In May 2001, he was appointed Chief Executive Officer of Labinal (now Safran Electrical & Power), before being appointed Chairman and Chief Executive Officer in November 2004. He was appointed Chairman and Chief Executive Officer of Snecma (now Safran Aircraft Engines) in 2006. Between 2011 and 2013, he served as President of Safran's Defense and Security businesses and then Chairman and Chief Executive Officer of Safran Electronics & Defense. He served as the Chairman and Chief Executive Officer of Safran Identity & Security until December 2014 and Safran Electronics & Defense until July 2013. He subsequently served as Chairman of Safran Identity & Security from December 2014 to July 2015. Also on April 23, 2015, he became a Board member of the Aerospace and Defense Industries Association of Europe (ASD). In July 2015, Philippe Petitcolin was appointed Vice-Chairman of GIFAS (Groupement des Industries Françaises Aéronautiques et Spatiales) and in September 2015, he was appointed as a Director of Belcan Corporation, an engineering services company. He served as the Chairman of the Board of Directors of Safran Identity & Security North America until July 2015, Morpho Detection International, LLC until July 2015 and Safran Electronics & Defense until December 2014. He served as the Chairman and President of Morpho USA, Inc. (United States) until July 2015, Director of Safran Identity & Security USA (formerly Morpho Detection, LLC) until July 2015, Member of the Supervisory Board of Safran Identity & Security GmbH (formerly Morpho Cards GmbH) until July 2015, Member of the Supervisory Board of Institut Aspen France until March 2015. He holds a degree in mathematics and is a graduate of the Centre de Perfectionnement aux Affaires (CPA) business school.
CEO Compensation
- Philippe's compensation has been consistent with company performance over the past year.
- Philippe's remuneration is about average for companies of similar size in France.
Management Team
Philippe Petitcolin
CEO & Director
€2M
66
4 yrs
Didier Domange
Director
75
Bernard-Pierre Delpit
Chief Financial Officer
54
Francis Gaillard
Administration Director
Coralie Bouscasse
Group General Counsel
2.8 yrs
Pascale DuBois
Executive Vice President of Communication
Jean-Luc Bérard
Executive Vice President of Human Resources
Jean-Pierre Cojan
Executive Vice President of Strategy and Transformation
65
Jean-Lin Fournereaux
Corporate Senior Vice President of Space
66
Herve Bouaziz
Executive Vice President for Strategy & Business Development - Sagem
50
Board of Directors Tenure
Average tenure and age of the Safran board of directors in years:
- The tenure for the Safran board of directors is about average.
Board of Directors
Ross McInnes
Chairman of the Board
€484K
64
4 yrs
Philippe Petitcolin
CEO & Director
€2M
66
4 yrs
Didier Domange
Director
75
0.9 yrs
Francis Mer
Honorary Chairman
€26K
79
6.3 yrs
Gérard Le Page
Chairman of Teuchos and Chief Executive Officer of Teuchos
Anne Bouverot
Chairman of Morpho
52
3.7 yrs
Odile Desforges
Independent Director
€76K
68
8 yrs
Monique Cohen
Lead Independent Director
€77K
62
1.1 yrs
Patrick Pélata
Independent Director
€27K
63
1.8 yrs
Jean-Lou Chameau
Independent Director
€64K
65
8 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess Safran's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) Safran has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
SAF News
Simply Wall St News
Is Safran SA's (EPA:SAF) ROE Of 11% Impressive?
This article is for those who would like to learn about Return On Equity (ROE). … That means that for every €1 worth of shareholders' equity, it generated €0.11 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleDon't Sell Safran SA (EPA:SAF) Before You Read This
The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll show how you can use Safran SA's (EPA:SAF) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleHas Safran SA (EPA:SAF) Been Employing Capital Shrewdly?
To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … How Do You Calculate Return On Capital Employed
Simply Wall St - – Full articleAn Examination Of Safran SA (EPA:SAF)
Safran SA (EPA:SAF) is a stock with outstanding fundamental characteristics. … When we build an investment case, we need to look at the stock with a holistic perspective. … In the case of SAF, it
Simply Wall St - – Full articleIs Safran's 144% Share Price Increase Well Justified?
For example, the Safran SA (EPA:SAF) share price has soared 144% in the last half decade. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. … That kind of transition can be an inflection point that justifies a strong share price gain, just as we have seen here.
Simply Wall St - – Full articleIs Safran SA (EPA:SAF) A Financially Sound Company?
its financial health remains the key to continued success. … Today we will look at Safran’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Note that this information is centred entirely on financial health and is a high-level overview, so I encourage you to look further
Simply Wall St - – Full articleIs Safran SA (EPA:SAF) A Cash Cow?
If you are currently a shareholder in Safran SA (EPA:SAF), or considering investing in the stock, you need to examine how the business generates cash, and how it is reinvested. … Is Safran generating enough cash. … Safran generates cash through its day-to-day business, which needs to be reinvested into the company in order for it to continue operating
Simply Wall St - – Full articleIs Safran SA's (EPA:SAF) CEO Paid Enough Relative To Peers?
First, this article will compare CEO compensation with compensation at other large companies. … Next, we'll consider growth that the business demonstrates. … How Does Philippe Petitcolin's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleWhat Are Analysts Saying About The Future Of Safran SA's (EPA:SAF)?
In June 2018, Safran SA (EPA:SAF) released its earnings update. … analyst forecasts seem fairly subdued, … the higher past 5-year average growth rate of 29%
Simply Wall St - – Full articleInterested In Safran SA (EPA:SAF)? Here's How It Performed Recently
Examining Safran SA's (EPA:SAF) past track record of performance is a useful exercise for investors. … Below, I will assess SAF's latest performance announced on 30 June 2018 and weight these figures against its longer term trend and industry movements. … Furthermore, this one-year growth rate has been lower than its average earnings growth rate over the past 5 years of 29%, indicating the rate at which SAF is growing has slowed down
Simply Wall St - – Full articleSAF Company Info
Description
Safran SA, together with its subsidiaries, engages in the aerospace and defense businesses worldwide. The company operates through three segments: Aerospace Propulsion, Aircraft Equipment, and Defense. The Aerospace Propulsion segment designs, develops, produces, and markets propulsion systems for commercial aircraft, military transport, training and combat aircraft, rocket engines, civil and military helicopters, and tactical missiles and drones. This segment also offers maintenance, repair, and overhaul services, as well as sells spare parts. The Aircraft Equipment segment provides landing gear and brakes; engine systems and associated equipment, such as thrust reversers and nacelles; and mechanical power transmission systems. This segment also offers electrical power generation cycle and associated engineering services; ventilation systems; and maintenance, repair, and related services, as well as sells spare parts. Its products and services are used in civil and military aircraft, and helicopters. The Defense segment designs, develops, manufactures, and markets optronic, avionic, and electronic solutions and services, as well as offers software for civil and defense applications. This segment also develops inertial navigation systems for aviation, naval, and land applications; flight commands for helicopters, and tactical optronic systems and drones; and defense equipment and systems. It serves naval, land, and aviation defense industries. Safran SA was incorporated in 1924 and is based in Paris, France.
Details
| Name: | Safran SA |
| SAF | |
| Exchange: | ENXTPA |
| Founded: | 1924 |
| €53,510,915,700 | |
| 432,411,440 | |
| Website: | http://www.safran-group.com |
| Address: |
Safran SA 2, Boulevard du Général Martial Valin, Cedex 15, Paris, Ile-de-France, 75724, France |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| ENXTPA | SAF | Ordinary Shares | Euronext Paris | FR | EUR | 27. Jul 1999 | |
| OTCPK | SAFR.F | Ordinary Shares | Pink Sheets LLC | US | USD | 27. Jul 1999 | |
| DB | SEJ1 | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 27. Jul 1999 | |
| LSE | 0IU8 | Ordinary Shares | London Stock Exchange | GB | EUR | 27. Jul 1999 | |
| SWX | SAF | Ordinary Shares | SIX Swiss Exchange | CH | CHF | 27. Jul 1999 | |
| BIT | SAF | Ordinary Shares | Borsa Italiana | IT | EUR | 27. Jul 1999 | |
| WBAG | SAF | Ordinary Shares | Wiener Boerse AG | AT | EUR | 27. Jul 1999 | |
| BATS-CHIXE | SAFP | Ordinary Shares | BATS 'Chi-X Europe' | GB | EUR | 27. Jul 1999 | |
| OTCPK | SAFR.Y | SPON ADR | Pink Sheets LLC | US | USD | 21. Aug 2007 |
Number of employees
Current staff
Industry
| Aerospace and Defense | |
| Capital Goods |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/04/21 20:51 |
| End of day share price update: | 2019/04/18 00:00 |
| Last estimates confirmation: | 2019/04/17 |
| Last earnings filing: | 2019/04/01 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
