ENXTPA:THEP

Stock Analysis Report

NOT FOR DISTRIBUTION
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Executive Summary

Thermador Groupe SA, together with its subsidiaries, engages in the distribution business in France and internationally. More Details


Snowflake Analysis

Excellent balance sheet established dividend payer.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: THEP is less volatile than 75% of French stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: THEP's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

1.9%

THEP

2.1%

FR Trade Distributors

0.7%

FR Market


1 Year Return

19.7%

THEP

4.6%

FR Trade Distributors

1.0%

FR Market

Return vs Industry: THEP exceeded the French Trade Distributors industry which returned 1.7% over the past year.

Return vs Market: THEP exceeded the French Market which returned -1.4% over the past year.


Shareholder returns

THEPIndustryMarket
7 Day1.9%2.1%0.7%
30 Day11.0%25.5%19.1%
90 Day14.6%5.4%11.1%
1 Year24.7%19.7%5.3%4.6%3.1%1.0%
3 Year28.8%16.1%-16.5%-22.7%18.8%8.9%
5 Year82.2%52.3%16.4%1.0%51.6%31.1%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

27.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: THEP (€64.4) is trading below our estimate of fair value (€89.17)

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


Price To Earnings Ratio

PE vs Industry: THEP's PE Ratio (18.5x) is in line with the XE Trade Distributors industry average.

PE vs Market: THEP is good value based on its PE Ratio (18.5x) compared to the French market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: THEP is poor value based on its PEG Ratio (1.9x)


Price to Book Ratio

PB vs Industry: THEP is overvalued based on its PB Ratio (2.7x) compared to the FR Trade Distributors industry average (0.8x).


Next Steps

Future Growth

How is Thermador Groupe forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

9.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: THEP's forecast earnings growth (9.8% per year) is above the savings rate (0.6%).

Earnings vs Market: THEP's earnings (9.8% per year) are forecast to grow slower than the French market (25.4% per year).

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

Revenue vs Market: THEP's revenue (6.1% per year) is forecast to grow slower than the French market (7.3% per year).

High Growth Revenue: THEP's revenue (6.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: THEP's Return on Equity is forecast to be low in 3 years time (15.3%).


Next Steps

Past Performance

How has Thermador Groupe performed over the past 5 years?

12.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: THEP has high quality earnings.

Growing Profit Margin: THEP's current net profit margins (8.7%) are lower than last year (9.1%).


Past Earnings Growth Analysis

Earnings Trend: THEP's earnings have grown by 12% per year over the past 5 years.

Accelerating Growth: THEP's earnings growth over the past year (3.9%) is below its 5-year average (12% per year).

Earnings vs Industry: THEP earnings growth over the past year (3.9%) exceeded the Trade Distributors industry -7.1%.


Return on Equity

High ROE: THEP's Return on Equity (14.3%) is considered low.


Next Steps

Financial Health

How is Thermador Groupe's financial position?


Financial Position Analysis

Short Term Liabilities: THEP's short term assets (€239.5M) exceed its short term liabilities (€105.9M).

Long Term Liabilities: THEP's short term assets (€239.5M) exceed its long term liabilities (€42.5M).


Debt to Equity History and Analysis

Debt Level: THEP's debt to equity ratio (21.3%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if THEP's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: THEP's debt is well covered by operating cash flow (53.1%).

Interest Coverage: THEP's interest payments on its debt are well covered by EBIT (208x coverage).


Balance Sheet


Next Steps

Dividend

What is Thermador Groupe current dividend yield, its reliability and sustainability?

2.80%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: THEP's dividend (2.8%) is higher than the bottom 25% of dividend payers in the French market (1.4%).

High Dividend: THEP's dividend (2.8%) is low compared to the top 25% of dividend payers in the French market (4.68%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (51.7%), THEP's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: THEP's dividends in 3 years are forecast to be covered by earnings (52.6% payout ratio).


Next Steps

Management

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

12.3yrs

Average management tenure


CEO

Guillaume Robin (55 yo)

10.58yrs

Tenure

€308,000

Compensation

Mr. Guillaume Robin has been the Chairman and Chief Executive Officer of Thermador Groupe Société Anonymesince June 30, 2011 and since April 13, 2010 respectively. Mr. Robin has been Chairman and Chief Exe...


CEO Compensation Analysis

Compensation vs Market: Guillaume's total compensation ($USD368.11K) is below average for companies of similar size in the French market ($USD745.02K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Guillaume Robin
Chairman & CEO10.58yrs€308.00k1.1%
€ 6.5m
Jean-Francois Bonnefond
Deputy CEO & Director13.58yrs€26.00k1.21%
€ 7.1m
Patricia Mavigner
Deputy CEO4.5yrs€232.00k0.19%
€ 1.1m
Emmanuelle Desecures
Chairman & CEO of Dipra21.83yrs€172.00k1.36%
€ 8.0m
Lionel Monroe
Chairman & CEO of Syveco12.83yrs€195.00k0.87%
€ 5.1m
Eric Mantione
Chairman & CEO of PBtub25.83yrs€204.00k1.6%
€ 9.4m
Xavier Isaac
Chairman & CEO of Sectoriel and CEO of Distrilabo12.83yrs€187.00k0.83%
€ 4.9m
Fabienne Bochet
Chairman & CEO of Isocel12.83yrs€117.00k0.99%
€ 5.9m
Arlette Berliocchi
Chief Executive Officer of Opaline18.83yrsno data0.095%
€ 559.9k
Jerome Chabaudie
Chairman & CEO of Aello4.83yrsno data0.097%
€ 570.7k
Philippe Bernardet
Chief Executive Officer of FGinox11.83yrsno data0.0040%
€ 23.4k
Laure Empereur
Chairman & CEO of Rousseau0.83yrno data0.00011%
€ 649.8

12.3yrs

Average Tenure

52.5yo

Average Age

Experienced Management: THEP's management team is seasoned and experienced (12.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Guillaume Robin
Chairman & CEO10.58yrs€308.00k1.1%
€ 6.5m
Jean-Francois Bonnefond
Deputy CEO & Director13.58yrs€26.00k1.21%
€ 7.1m
Patricia Mavigner
Deputy CEO4.5yrs€232.00k0.19%
€ 1.1m
Emmanuelle Desecures
Chairman & CEO of Dipra21.83yrs€172.00k1.36%
€ 8.0m
Lionel Monroe
Chairman & CEO of Syveco12.83yrs€195.00k0.87%
€ 5.1m
Eric Mantione
Chairman & CEO of PBtub25.83yrs€204.00k1.6%
€ 9.4m
Xavier Isaac
Chairman & CEO of Sectoriel and CEO of Distrilabo12.83yrs€187.00k0.83%
€ 4.9m
Fabienne Bochet
Chairman & CEO of Isocel12.83yrs€117.00k0.99%
€ 5.9m
Jerome Chabaudie
Chairman & CEO of Aello4.83yrsno data0.097%
€ 570.7k
Laure Empereur
Chairman & CEO of Rousseau0.83yrno data0.00011%
€ 649.8
Peter Wartel
Chairman & CEO of Sodeco Valves1.83yrsno data0.0021%
€ 12.5k
Philippe Bories
Chairman of Mecafer & Chairman of Domac4.83yrsno data0.51%
€ 3.0m

11.1yrs

Average Tenure

52.5yo

Average Age

Experienced Board: THEP's board of directors are seasoned and experienced ( 11.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

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


Top Shareholders

Company Information

Thermador Groupe SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Thermador Groupe SA
  • Ticker: THEP
  • Exchange: ENXTPA
  • Founded: 1968
  • Industry: Trading Companies and Distributors
  • Sector: Capital Goods
  • Market Cap: €590.695m
  • Shares outstanding: 9.20m
  • Website: https://www.thermador-groupe.fr

Number of Employees


Location

  • Thermador Groupe SA
  • Parc d’Activités de Chesnes
  • 80, rue du Ruisseau
  • Saint-Quentin-Fallavier
  • Rhône-Alpes
  • 38297
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
THEPENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1992
0NKTLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
THEPPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
T8DABST (Boerse-Stuttgart)YesOrdinary SharesDEEURJan 1992

Biography

Thermador Groupe SA, together with its subsidiaries, engages in the distribution business in France and internationally. The company offers central heating and domestic hot water accessories, pumps for hea...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/01 18:42
End of Day Share Price2020/12/01 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.