Bénéteau
Market Cap
€493.1m
Last Updated
2020/04/10 01:28 UTC
Data Sources
Company Financials +
Executive Summary
Bénéteau S.A. designs, manufactures, and sells boats and leisure homes in France and internationally.
Rewards
Risk Analysis
Snowflake Analysis
Good value with moderate growth potential.
Share Price & News
How has Bénéteau's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: BEN's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
9.3%
BEN
5.8%
FR Leisure
6.9%
FR Market
1 Year Return
-45.9%
BEN
-45.1%
FR Leisure
-17.0%
FR Market
Return vs Industry: BEN underperformed the French Leisure industry which returned -43.9% over the past year.
Return vs Market: BEN underperformed the French Market which returned -17.5% over the past year.
Shareholder returns
| BEN | Industry | Market | |
|---|---|---|---|
| 7 Day | 9.3% | 5.8% | 6.9% |
| 30 Day | -6.4% | -14.5% | -3.0% |
| 90 Day | -42.1% | -41.6% | -23.7% |
| 1 Year | -44.6%-45.9% | -44.1%-45.1% | -14.1%-17.0% |
| 3 Year | -45.4%-48.7% | -40.1%-43.2% | 4.1%-5.6% |
| 5 Year | -54.8%-58.2% | -37.4%-41.9% | 10.7%-4.9% |
Price Volatility Vs. Market
How volatile is Bénéteau's share price compared to the market and industry in the last 5 years?
Simply Wall St News
3 days ago | Simply Wall St
Bénéteau S.A. (EPA:BEN) Analysts Just Cut Their EPS Forecasts Substantially2 weeks ago | Simply Wall St
What Is Bénéteau's (EPA:BEN) P/E Ratio After Its Share Price Tanked?1 month ago | Simply Wall St
What Is Bénéteau's (EPA:BEN) P/E Ratio After Its Share Price Tanked?Valuation
Is Bénéteau undervalued compared to its fair value and its price relative to the market?
8.5%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: BEN (€6.03) is trading below our estimate of fair value (€6.58)
Significantly Below Fair Value: BEN is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: BEN is poor value based on its PE Ratio (10.1x) compared to the Leisure industry average (9.6x).
PE vs Market: BEN is good value based on its PE Ratio (10.1x) compared to the French market (13.9x).
Price to Earnings Growth Ratio
PEG Ratio: BEN is good value based on its PEG Ratio (0.5x)
Price to Book Ratio
PB vs Industry: BEN is good value based on its PB Ratio (0.8x) compared to the FR Leisure industry average (1x).
Next Steps
Future Growth
How is Bénéteau forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
21.2%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BEN's forecast earnings growth (21.2% per year) is above the savings rate (-0.1%).
Earnings vs Market: BEN's earnings (21.2% per year) are forecast to grow faster than the French market (12% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: BEN's revenue (1.2% per year) is forecast to grow slower than the French market (3.4% per year).
High Growth Revenue: BEN's revenue (1.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BEN's Return on Equity is forecast to be low in 3 years time (8.8%).
Next Steps
Past Performance
How has Bénéteau performed over the past 5 years?
37.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: BEN has high quality earnings.
Growing Profit Margin: BEN's current net profit margins (3.7%) are lower than last year (4.8%).
Past Earnings Growth Analysis
Earnings Trend: BEN's earnings have grown significantly by 37.2% per year over the past 5 years.
Accelerating Growth: BEN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: BEN had negative earnings growth (-19.3%) over the past year, making it difficult to compare to the Leisure industry average (6.9%).
Return on Equity
High ROE: BEN's Return on Equity (7.5%) is considered low.
Next Steps
Financial Health
How is Bénéteau's financial position?
Financial Position Analysis
Short Term Liabilities: BEN's short term assets (€883.5M) exceed its short term liabilities (€683.8M).
Long Term Liabilities: BEN's short term assets (€883.5M) exceed its long term liabilities (€70.2M).
Debt to Equity History and Analysis
Debt Level: BEN's debt to equity ratio (56.6%) is considered high.
Reducing Debt: BEN's debt to equity ratio has increased from 18.4% to 56.6% over the past 5 years.
Debt Coverage: BEN's debt is not well covered by operating cash flow (18.2%).
Interest Coverage: BEN's interest payments on its debt are well covered by EBIT (26.7x coverage).
Balance Sheet
Next Steps
Dividend
What is Bénéteau's current dividend yield, its reliability and sustainability?
3.82%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: BEN's dividend (3.82%) is higher than the bottom 25% of dividend payers in the French market (2.02%).
High Dividend: BEN's dividend (3.82%) is low compared to the top 25% of dividend payers in the French market (5.99%).
Stability and Growth of Payments
Stable Dividend: BEN has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: BEN's dividend payments have increased, but the company has only paid a dividend for 9 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (38.5%), BEN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: BEN's dividends in 3 years are forecast to be well covered by earnings (38.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
0.8yrs
Average management tenure
CEO
Jérôme Metz (60yo)
0.83
Tenure
€923,335
Compensation
Mr. Jérôme De Metz serves as Chief Executive Officer at Bénéteau S.A. since June 14, 2019. Mr. Jérôme De Metz has been the Chairman of the Board at Bénéteau S.A. since February 8, 2019. He is the Founder o ...
CEO Compensation Analysis
Compensation vs Market: Jérôme's total compensation ($USD1.00M) is above average for companies of similar size in the French market ($USD564.97K).
Compensation vs Earnings: Insufficient data to compare Jérôme's compensation with company performance.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 0.83yr | €923.34k | no data | |
| Deputy CEO of Operational Excellence - Boat Division & Management Board Member | 4.83yrs | €353.59k | no data | |
| Deputy CEO - Product Strategy for Boat Division & Management Board Member | 0.83yr | €1.24m | no data | |
| Group Chief Financial Officer | 0.25yr | no data | no data | |
| Deputy CEO & Member of the Management Board | no data | €455.44k | no data | |
| Chief HR & Communications Officer | no data | no data | no data | |
| Chief Operating Officer of American Operations | 4.83yrs | no data | no data | |
| Managing Director of Bénéteau-Lagoon China | no data | no data | no data |
0.8yrs
Average Tenure
50yo
Average Age
Experienced Management: BEN's management team is not considered experienced ( 0.8 years average tenure), which suggests a new team.
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman | 0.83yr | €923.34k | no data | |
| Observer of the Board | 1.17yrs | €36.01k | no data | |
| Observer of the Board | no data | €14.79k | no data | |
| Director | no data | €228.91k | no data | |
| Director | 1.17yrs | €134.16k | no data | |
| Independent Director | no data | no data | no data | |
| Board Observer | no data | €60.35k | no data | |
| Vice Chairman of the Board | 1.17yrs | €278.75k | no data | |
| Independent Director | 1.17yrs | €27.37k | no data | |
| Independent Director | 1.17yrs | €20.79k | no data |
1.2yrs
Average Tenure
65.5yo
Average Age
Experienced Board: BEN's board of directors are not considered experienced ( 1.2 years average tenure), which suggests a new board.
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
Bénéteau S.A.'s company bio, employee growth, exchange listings and data sources
Key Information
- Name: Bénéteau S.A.
- Ticker: BEN
- Exchange: ENXTPA
- Founded: 1884
- Industry: Leisure Products
- Sector: Consumer Durables
- Market Cap: €493.123m
- Shares outstanding: 81.85m
- Website: https://www.beneteau-group.com
Number of Employees
Location
- Bénéteau S.A.
- Les Embruns
- 16 boulevard de la Mer
- Saint-Gilles-Croix-de-Vie
- Pays de la Loire
- 85803
- France
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| BEN | ENXTPA (Euronext Paris) | Yes | Common Shares | FR | EUR | Jan 1992 |
| 0K8N | LSE (London Stock Exchange) | Yes | Common Shares | GB | EUR | Jan 1992 |
| 3GD | DB (Deutsche Boerse AG) | Yes | Common Shares | DE | EUR | Jan 1992 |
| BTEA.F | OTCPK (Pink Sheets LLC) | Yes | Common Shares | US | USD | Jan 1992 |
| BENP | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Common Shares | GB | EUR | Jan 1992 |
Biography
Bénéteau S.A. designs, manufactures, and sells boats and leisure homes in France and internationally. It provides boats under Beneteau, Jeanneau, Lagoon, Prestige, Monte Carlo Yachts, CNB, Four Winns, Glastron, Scarab, WellCraft, EXCESS, and Delphia brand names; leisure homes under IRM, O’HARA, and Coco Sweet brand names, as well as services under bandofbaots.com, a community services platform; and lease purchase, credit, and insurance under SGB Finance. The company was founded in 1884 and is headquartered in Saint Gilles Croix de Vie, France.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/10 01:28 |
| End of Day Share Price | 2020/04/09 00:00 |
| Earnings | 2019/08/31 |
| Annual Earnings | 2019/08/31 |
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.