ENXTPA:ASY

Stock Analysis Report

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Executive Summary

Assystem S.A. operates as an infrastructure engineering and consultancy company worldwide.


Snowflake Analysis

Solid track record with excellent balance sheet and pays a dividend.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: ASY's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

5.6%

ASY

1.2%

FR Professional Services

3.5%

FR Market


1 Year Return

-34.2%

ASY

3.3%

FR Professional Services

-9.4%

FR Market

Return vs Industry: ASY underperformed the French Professional Services industry which returned 3.2% over the past year.

Return vs Market: ASY underperformed the French Market which returned -12% over the past year.


Shareholder returns

ASYIndustryMarket
7 Day5.6%1.2%3.5%
30 Day9.6%9.9%4.2%
90 Day-26.2%-13.2%-13.7%
1 Year-32.2%-34.2%3.6%3.3%-7.6%-9.4%
3 Year-32.1%-38.2%25.7%19.7%1.4%-6.9%
5 Year37.7%15.6%67.8%52.8%18.8%1.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

11.46x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ASY (€21) is trading above our estimate of fair value (€12.87)

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


Price To Earnings Ratio

PE vs Industry: ASY is good value based on its PE Ratio (11.5x) compared to the Professional Services industry average (12.1x).

PE vs Market: ASY is good value based on its PE Ratio (11.5x) compared to the French market (14.2x).


Price to Earnings Growth Ratio

PEG Ratio: ASY is poor value based on its PEG Ratio (2.1x)


Price to Book Ratio

PB vs Industry: ASY is good value based on its PB Ratio (0.8x) compared to the FR Professional Services industry average (1.1x).


Next Steps

Future Growth

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

5.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ASY's forecast earnings growth (5.6% per year) is above the savings rate (0.6%).

Earnings vs Market: ASY's earnings (5.6% per year) are forecast to grow slower than the French market (13.1% per year).

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

Revenue vs Market: ASY's revenue is expected to decline over the next 3 years (-1.9% per year).

High Growth Revenue: ASY's revenue is forecast to decline over the next 3 years (-1.9% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ASY's Return on Equity is forecast to be low in 3 years time (7.2%).


Next Steps

Past Performance

How has Assystem performed over the past 5 years?

8.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ASY has high quality earnings.

Growing Profit Margin: ASY's current net profit margins (5.5%) are higher than last year (4.4%).


Past Earnings Growth Analysis

Earnings Trend: ASY's earnings have grown by 8% per year over the past 5 years.

Accelerating Growth: ASY's earnings growth over the past year (39.6%) exceeds its 5-year average (8% per year).

Earnings vs Industry: ASY earnings growth over the past year (39.6%) exceeded the Professional Services industry 8.1%.


Return on Equity

High ROE: ASY's Return on Equity (7.2%) is considered low.


Next Steps

Financial Health

How is Assystem's financial position?


Financial Position Analysis

Short Term Liabilities: ASY's short term assets (€222.1M) exceed its short term liabilities (€172.0M).

Long Term Liabilities: ASY's short term assets (€222.1M) exceed its long term liabilities (€148.4M).


Debt to Equity History and Analysis

Debt Level: ASY's debt to equity ratio (20.4%) is considered satisfactory.

Reducing Debt: ASY's debt to equity ratio has increased from 7.1% to 20.4% over the past 5 years.

Debt Coverage: ASY's debt is well covered by operating cash flow (52%).

Interest Coverage: ASY earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

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

4.76%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: ASY's dividend (4.76%) is higher than the bottom 25% of dividend payers in the French market (1.77%).

High Dividend: ASY's dividend (4.76%) is low compared to the top 25% of dividend payers in the French market (5.34%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (54.6%), ASY's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ASY's dividends in 3 years are forecast to be covered by earnings (53.8% payout ratio).


Next Steps

Management

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

5.1yrs

Average board tenure


CEO

Dominique Louis (68yo)

3yrs

Tenure

€253,600

Compensation

Mr. Dominique Louis has been the Chairman and Chief Executive Officre of Assystem SA since May 16, 2017. Mr. Louis served as Corporate Executive Officer of Assystem SA until February 1, 2016. He served as  ...


CEO Compensation Analysis

Compensation vs Market: Dominique's total compensation ($USD278.50K) is below average for companies of similar size in the French market ($USD668.91K).

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


Board Members

NamePositionTenureCompensationOwnership
Dominique Louis
Chairman & CEO3yrs€253.60kno data
Nathalie Font
Quality Engineer & Employee Representative Director1.42yrsno data0.00035% 1.1k
Vincent Favier
Director6yrs€46.07kno data
Virginie Calmels
Independent Director4.17yrs€30.71kno data
Gilbert Lehmann
Independent Director16yrs€69.11k0.000010% 31.5
Miriam Maes
Independent Director9yrs€53.75kno data

5.1yrs

Average Tenure

57yo

Average Age

Experienced Board: ASY's board of directors are considered experienced (5.1 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

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


Key Information

  • Name: Assystem S.A.
  • Ticker: ASY
  • Exchange: ENXTPA
  • Founded: 1966
  • Industry: Research and Consulting Services
  • Sector: Commercial Services
  • Market Cap: €314.949m
  • Shares outstanding: 15.00m
  • Website: https://www.assystem.com

Number of Employees


Location

  • Assystem S.A.
  • 70, boulevard de Courcelles
  • Paris
  • Ile-de-France
  • 75017
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ASYENXTPA (Euronext Paris)YesOrdinary SharesFREUROct 1999
BZ1DB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 1999
0OA7LSE (London Stock Exchange)YesOrdinary SharesGBEUROct 1999
ASYPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEUROct 1999

Biography

Assystem S.A. operates as an infrastructure engineering and consultancy company worldwide. It operates through two divisions, Energy & Infrastructure, and Staffing. The Energy & Infrastructure division offers project management consultancy, including consultancy assistance with the construction and start-up phases, as well as for commissioning tests with the design and performance of safety tests; engineering procurement and construction management services across various project phases, from design through to decommissioning; design engineering services covering design assistance with configuration management, logistical support, customization, and related risks research services; and systems integration services for complex projects. This division serves customers, such as nuclear utilities companies and contractors, customers in conventional and renewable energy sectors, and designers and operators of transport infrastructure, as well as other complex infrastructure and life sciences companies. The Staffing division provides technical and engineering recruitment services for the oil and gas, energy, aerospace, defense telecommunications, railway, mining, metallurgy, environmental, and nuclear industries. The company was formerly known as AssystemBrime S.A. and changed its name to Assystem S.A. in June 2005. The company was founded in 1966 and is headquartered in Paris, France. Assystem S.A. is a subsidiary of HDL Development. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/05/27 23:17
End of Day Share Price2020/05/27 00:00
Earnings2019/12/31
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.