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Safran

ENXTPA:SAF
Snowflake Description

High growth potential with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SAF
ENXTPA
€54B
Market Cap
  1. Home
  2. FR
  3. Capital Goods
Company description

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
1.4%
ENXTPA:SAF
1.3%
FR Aerospace & Defense
1.3%
FR Market
1 Year Returns
37.4%
ENXTPA:SAF
21%
FR Aerospace & Defense
3.6%
FR Market
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.
Price Volatility
SAF
Industry
5yr Volatility vs Market
Related Companies

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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Safran.

ENXTPA:SAF Discounted Cash Flow Data Sources
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.

Calculation of Discount Rate/ Cost of Equity for ENXTPA:SAF
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.

ENXTPA:SAF DCF 1st Stage: Next 10 year cash flow forecast
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
ENXTPA:SAF DCF 2nd Stage: Terminal Value
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
ENXTPA:SAF Total Equity Value
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
ENXTPA:SAF Discount to Share Price
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
Amount off the current price Safran is available for.
Intrinsic value
3%
Share price is €123.75 vs Future cash flow value of €127.27
Current Discount Checks
For Safran to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • 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?
Raw Data
ENXTPA:SAF PE (Price to Earnings) Ratio Data Sources
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.

ENXTPA:SAF PE (Price to Earnings) Ratio Calculation
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?
Raw Data
ENXTPA:SAF PEG (Price to Earnings to Growth) Ratio Data Sources
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 .

ENXTPA:SAF PEG (Price to Earnings to Growth) Ratio Calculation
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?
Raw Data
ENXTPA:SAF PB (Price to Book) Ratio Data Sources
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
ENXTPA:SAF PB (Price to Book) Ratio Calculation
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.
X
Value checks
We assess Safran's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. 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!
Annual Growth Rate
20.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Safran expected to grow at an attractive rate?
  • 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
Raw Data
ENXTPA:SAF Future Growth Rates Data Sources
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
Raw Data
ENXTPA:SAF Analysts Growth Expectations Data Sources
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 numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:SAF Future Estimates Data
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
ENXTPA:SAF Past Financials Data
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.

Super high growth metrics
High Growth Checks
  • Safran's earnings are expected to grow significantly at over 20% yearly.
  • Safran's revenue is expected to grow by 5.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTPA:SAF 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.

ENXTPA:SAF Future Estimates Data
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
ENXTPA:SAF Past Financials Data
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.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Safran is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Safran's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
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
Below we compare Safran's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • 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
Safran's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Safran Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:SAF Past Revenue, Cash Flow and Net Income Data
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).
X
Past performance checks
We assess Safran's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
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.
Net Worth
  • 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
This treemap shows a more detailed breakdown of Safran's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • 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.
Raw Data

All data from Safran Company Filings, last reported 3 months ago.

ENXTPA:SAF Past Debt and Equity Data
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).
X
Financial health checks
We assess Safran's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Safran has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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
Dividend payments
1.47%
Current annual income from Safran dividends. Estimated to be 2.06% next year.
If you bought €2,000 of Safran shares you are expected to receive €29 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • 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.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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.
Raw Data
ENXTPA:SAF Annualized Past and Future Dividends
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.

ENXTPA:SAF Future Dividends Estimate Data
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
ENXTPA:SAF Past Annualized Dividends Data
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).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.5x coverage).
X
Income/ dividend checks
We assess Safran's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. 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)
  7. 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

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Philippe Petitcolin
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

TITLE
CEO & Director
COMPENSATION
€2M
AGE
66
TENURE
4 yrs

Didier Domange

TITLE
Director
AGE
75

Bernard-Pierre Delpit

TITLE
Chief Financial Officer
AGE
54

Francis Gaillard

TITLE
Administration Director

Coralie Bouscasse

TITLE
Group General Counsel
TENURE
2.8 yrs

Pascale DuBois

TITLE
Executive Vice President of Communication

Jean-Luc Bérard

TITLE
Executive Vice President of Human Resources

Jean-Pierre Cojan

TITLE
Executive Vice President of Strategy and Transformation
AGE
65

Jean-Lin Fournereaux

TITLE
Corporate Senior Vice President of Space
AGE
66

Herve Bouaziz

TITLE
Executive Vice President for Strategy & Business Development - Sagem
AGE
50
Board of Directors Tenure

Average tenure and age of the Safran board of directors in years:

4
Average Tenure
65
Average Age
  • The tenure for the Safran board of directors is about average.
Board of Directors

Ross McInnes

TITLE
Chairman of the Board
COMPENSATION
€484K
AGE
64
TENURE
4 yrs

Philippe Petitcolin

TITLE
CEO & Director
COMPENSATION
€2M
AGE
66
TENURE
4 yrs

Didier Domange

TITLE
Director
AGE
75
TENURE
0.9 yrs

Francis Mer

TITLE
Honorary Chairman
COMPENSATION
€26K
AGE
79
TENURE
6.3 yrs

Gérard Le Page

TITLE
Chairman of Teuchos and Chief Executive Officer of Teuchos

Anne Bouverot

TITLE
Chairman of Morpho
AGE
52
TENURE
3.7 yrs

Odile Desforges

TITLE
Independent Director
COMPENSATION
€76K
AGE
68
TENURE
8 yrs

Monique Cohen

TITLE
Lead Independent Director
COMPENSATION
€77K
AGE
62
TENURE
1.1 yrs

Patrick Pélata

TITLE
Independent Director
COMPENSATION
€27K
AGE
63
TENURE
1.8 yrs

Jean-Lou Chameau

TITLE
Independent Director
COMPENSATION
€64K
AGE
65
TENURE
8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Safran's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. 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 -

Don'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 -

Has 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 -

An 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 -

Is 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 -

Is 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 -

Is 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 -

Is 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 -

What 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 -

Interested 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 -

SAF 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
Staff numbers
92,639
Safran employees.
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.