ENXTPA:ASP

Stock Analysis Report

Executive Summary

AST Groupe operates as a real estate developer in France.

Rewards

Trading at 64.5% below its fair value

Earnings are forecast to grow 35.48% per year

Pays a reliable dividend of 7.96%

Risk Analysis

Debt is not well covered by operating cash flow

High level of non-cash earnings

Dividend of 7.96% is not well covered by earnings

Profit margins (1.5%) are lower than last year (5.2%)

+ 2 more risks


Snowflake Analysis

Very undervalued average dividend payer.

Share Price & News

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


Latest Share Price and Events

Stable Share Price: ASP has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

1.6%

ASP

-2.5%

FR Consumer Durables

-0.9%

FR Market


1 Year Return

-44.3%

ASP

13.3%

FR Consumer Durables

20.4%

FR Market

Return vs Industry: ASP underperformed the French Consumer Durables industry which returned 13.3% over the past year.

Return vs Market: ASP underperformed the French Market which returned 20.4% over the past year.


Shareholder returns

ASPIndustryMarket
7 Day1.6%-2.5%-0.9%
30 Day-0.9%-3.1%-0.3%
90 Day-16.7%-3.3%3.8%
1 Year-41.1%-44.3%15.6%13.3%24.4%20.4%
3 Year-18.3%-26.3%10.8%5.3%42.4%28.8%
5 Year74.8%38.9%117.0%96.2%74.6%49.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ASP (€3.14) is trading below our estimate of fair value (€8.84)

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


Price To Earnings Ratio

PE vs Industry: ASP is good value based on its PE Ratio (12.5x) compared to the Consumer Durables industry average (15.8x).

PE vs Market: ASP is good value based on its PE Ratio (12.5x) compared to the French market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: ASP is good value based on its PEG Ratio (0.4x)


Price to Book Ratio

PB vs Industry: ASP is good value based on its PB Ratio (1.2x) compared to the FR Consumer Durables industry average (3x).


Next Steps

Future Growth

How is AST Groupe forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

35.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ASP's forecast earnings growth (35.5% per year) is above the savings rate (-0.1%).

Earnings vs Market: ASP's earnings (35.5% per year) are forecast to grow faster than the French market (11.6% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: ASP's revenue is expected to decline over the next 3 years (-2.3% per year).

High Growth Revenue: ASP's revenue is forecast to decline over the next 3 years (-2.3% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ASP's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has AST Groupe performed over the past 5 years?

42.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ASP has a high level of non-cash earnings.

Growing Profit Margin: ASP's current net profit margins (1.5%) are lower than last year (5.2%).


Past Earnings Growth Analysis

Earnings Trend: ASP has become profitable over the past 5 years, growing earnings by 42.1% per year.

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

Earnings vs Industry: ASP had negative earnings growth (-71.2%) over the past year, making it difficult to compare to the Consumer Durables industry average (-3.2%).


Return on Equity

High ROE: ASP's Return on Equity (9.7%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is AST Groupe's financial position?


Financial Position Analysis

Short Term Liabilities: ASP's short term assets (€98.9M) exceed its short term liabilities (€86.3M).

Long Term Liabilities: ASP's short term assets (€98.9M) exceed its long term liabilities (€30.8M).


Debt to Equity History and Analysis

Debt Level: ASP's debt to equity ratio (108.3%) is considered high.

Reducing Debt: ASP's debt to equity ratio has increased from 35% to 108.3% over the past 5 years.

Debt Coverage: ASP's debt is not well covered by operating cash flow (0.2%).

Interest Coverage: ASP's interest payments on its debt are well covered by EBIT (48.1x coverage).


Balance Sheet

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

Debt Coverage by Assets: ASP's debt is covered by short term assets (assets are 2.8x debt).


Next Steps

Dividend

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

7.96%

Current Dividend Yield


Dividend Yield vs Market

company8.0%marketbottom25%1.5%markettop25%4.6%industryaverage2.1%forecastin3Years8.0%

Current dividend yield vs market & industry

Notable Dividend: ASP's dividend (7.96%) is higher than the bottom 25% of dividend payers in the French market (1.49%).

High Dividend: ASP's dividend (7.96%) is in the top 25% of dividend payers in the French market (4.6%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (99.7%), ASP's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

€218k

CEO Compensation


CEO

Alain Tur 0

19.6yrs

Tenure

€217,800

Compensation

Mr. Alain Tur is a Co-Founder of AST Groupe and has been its Chairman and Chief Executive Officer since May 17, 2000. Mr. Tur served as President and Managing Director of AST Groupe. 


CEO Compensation Analysis

Compensation vs Market: Alain's total compensation ($USD241.52K) is above average for companies of similar size in the French market ($USD158.45K).

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


Insider Trading

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


Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 3.7%.


Management Team

  • Alain Tur

    Co-Founder

    • Tenure: 19.6yrs
    • Compensation: €217.80k
  • Sylvain Tur

    Co-Founder

    • Tenure: 0yrs
    • Compensation: €211.80k
  • Olivier Lamy

    Deputy Chief Executive Officer and Administrative & Financial Director

    • Tenure: 6.1yrs
    • Compensation: €197.10k
  • Laurent Deroussin

    Commercial and Marketing Director

    • Tenure: 0yrs

Board Members

  • Alain Tur

    Co-Founder

    • Tenure: 19.6yrs
    • Compensation: €217.80k
  • Sylvain Tur

    Co-Founder

    • Tenure: 0yrs
    • Compensation: €211.80k
  • Jérôme Gacoin

    Independent Director

    • Tenure: 0yrs
  • Martine Collonge

    Independent Director

    • Tenure: 0yrs

Company Information

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


Key Information

  • Name: AST Groupe
  • Ticker: ASP
  • Exchange: ENXTPA
  • Founded: 1993
  • Industry: Homebuilding
  • Sector: Consumer Durables
  • Market Cap: €39.965m
  • Shares outstanding: 12.89m
  • Website: https://www.ast-groupe.fr

Number of Employees


Location

  • AST Groupe
  • 78, rue Elisée Reclus
  • Décines-Charpieu
  • Rhône-Alpes
  • 69150
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ASPENXTPA (Euronext Paris)YesOrdinary SharesFREURJul 2000
ASPPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJul 2000
0J2SLSE (London Stock Exchange)YesOrdinary SharesGBEURJul 2000
9NADB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2000

Biography

AST Groupe operates as a real estate developer in France. The company engages in the development and construction of houses and apartments, as well as develops land. The company’s projects include individu ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/08 20:33
End of Day Share Price2019/12/06 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.