ENXTPA:BEN

Stock Analysis Report

Executive Summary

Bénéteau S.A. designs, manufactures, and sells boats and mobile homes in France and internationally.

Snowflake

Fundamentals

Very undervalued with flawless balance sheet.

Risks

  • Bénéteau has significant price volatility in the past 3 months.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

3.2%

ENXTPA:BEN

1.8%

FR Leisure

3.0%

FR Market


1 Year Return

-38.5%

ENXTPA:BEN

-32.2%

FR Leisure

-1.3%

FR Market

BEN underperformed the Leisure industry which returned -32.2% over the past year.

BEN underperformed the Market in France which returned -1.3% over the past year.


Share holder returns

BENIndustryMarket
7 Day3.2%1.8%3.0%
30 Day-9.4%-7.1%-4.1%
90 Day-17.2%-12.6%1.2%
1 Year-36.8%-38.5%-30.7%-32.2%2.1%-1.3%
3 Year-1.6%-6.3%13.5%8.6%41.3%27.5%
5 Year-28.9%-32.9%-11.2%-15.9%55.6%32.6%

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

Valuation

Is Bénéteau undervalued based on future cash flows and its price relative to the stock market?

>50%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Bénéteau's share price is below the future cash flow value, and at a moderate discount (> 20%).

Bénéteau's share price is below the future cash flow value, and at a substantial discount (> 40%).


Price Based on Earnings

Bénéteau is good value based on earnings compared to the FR Leisure industry average.

Bénéteau is good value based on earnings compared to the France market.


Price Based on Expected Growth

Bénéteau is good value based on expected growth next year.


Price Based on Value of Assets

Bénéteau is good value based on assets compared to the FR Leisure industry average.


Next Steps

Future Growth

How is Bénéteau expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

16.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Bénéteau's revenue is expected to grow by 5.6% yearly, however this is not considered high growth (20% yearly).

Bénéteau's earnings are expected to grow by 16.6% yearly, however this is not considered high growth (20% yearly).

Bénéteau's revenue growth is expected to exceed the France market average.

Bénéteau's earnings growth is expected to exceed the France market average.

Bénéteau's earnings growth is expected to exceed the low risk savings rate of 0.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Bénéteau is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Bénéteau performed over the past 5 years?

45.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Bénéteau has delivered over 20% year on year earnings growth in the past 5 years.

Bénéteau's 1-year earnings growth is negative, it can't be compared to the 5-year average.

Bénéteau's 1-year earnings growth is negative, it can't be compared to the FR Leisure industry average.


Return on Equity

Bénéteau has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Bénéteau used its assets less efficiently than the FR Leisure industry average last year based on Return on Assets.


Return on Capital Employed

Bénéteau has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Bénéteau's financial position?


Financial Position Analysis

Bénéteau is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Bénéteau's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Bénéteau's level of debt (27.3%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (36.2% vs 27.3% today).

Debt is well covered by operating cash flow (57.9%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 42.1x coverage).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 4.2x debt.


Next Steps

Dividend

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

3.73%

Expected Dividend Yield


Dividend Yield and Payments Analysis

Bénéteau's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.56%).

Bénéteau's dividend is below the markets top 25% of dividend payers in France (4.53%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (2.8x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (2.8x coverage).


Next Steps

Management

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

4.2yrs

Average management tenure


CEO

Jérôme Metz 0

0.2yrs

Tenure

0

Mr. Jérôme De Metz serves as Chief Executive Officer at Bénéteau S.A. since June 2019. Mr. Jérôme De Metz has been the Chairman of the Board at Bénéteau S.A. since February 2019. He is the founder of MBO  ...


Management Age and Tenure

4.2yrs

Average Tenure

The tenure for the Bénéteau management team is about average.


Board Age and Tenure

0.5yrs

Average Tenure

69yo

Average Age

The average tenure for the Bénéteau board of directors is less than 3 years, this suggests a new board.


Insider Trading

No 3 month open market individual insider trading information.


Ownership Breakdown


Management Team

  • Corinne Margot

    Human Resources Director

    • Tenure: 0.0yrs
  • Carla Demaria

    Management Board Member

    • Tenure: 8.0yrs
    • Compensation: €300.00k
  • Patrick Guilloux

    Chief Operating Officer of American Operations

    • Tenure: 4.2yrs
  • Christophe Caudrelier (50yo)

    Deputy CEO

    • Tenure: 4.2yrs
    • Compensation: €445.48k
  • Gianguido Girotti

    Deputy CEO - Product Strategy for Boat Division & Management Board Member

    • Tenure: 0.2yrs
  • Thibaut Montvalon

    Managing Director of Bénéteau-Lagoon China

    • Tenure: 0.0yrs
  • Jérôme Metz

    Chairman

    • Tenure: 0.2yrs

Board Members

  • Claude Brignon (69yo)

    Observer of the Board

    • Tenure: 0.5yrs
    • Compensation: €29.00k
  • Christian de Labriffe (72yo)

    Observer of the Board

    • Tenure: 0.0yrs
    • Compensation: €26.00k
  • Yves Lyon-Caen (69yo)

    Director

    • Tenure: 0.0yrs
    • Compensation: €712.05k
  • Annette Roux (77yo)

    Director

    • Tenure: 0.5yrs
    • Compensation: €122.00k
  • Yvon Bénéteau (69yo)

    Observer on Supervisory Board

    • Tenure: 0.0yrs
    • Compensation: €54.10k
  • Luc Dupé (70yo)

    Board Observer

    • Tenure: 0.0yrs
    • Compensation: €56.10k
  • Louis-Claude Roux (37yo)

    Vice Chairman of the Board

    • Tenure: 0.5yrs
    • Compensation: €178.84k
  • Catherine Pourre (62yo)

    Independent Director

    • Tenure: 0.5yrs
    • Compensation: €25.00k
  • Anne Leitzgen (46yo)

    Independent Director

    • Tenure: 0.5yrs
    • Compensation: €18.00k
  • Jérôme Metz

    Chairman

    • Tenure: 0.2yrs

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: €713.878m
  • Shares outstanding: 82.05m
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BENENXTPA (Euronext Paris)YesCommon SharesFREURJan 1992
0K8NLSE (London Stock Exchange)YesCommon SharesGBEURJan 1992
3GDDB (Deutsche Boerse AG)YesCommon SharesDEEURJan 1992
BTEA.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJan 1992
BENPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJan 1992

Biography

Bénéteau S.A. designs, manufactures, and sells boats and mobile homes in France and internationally. It provides boats under Beneteau, Jeanneau, Lagoon, Prestige, Monte Carlo Yachts, CNB, Four Winns, Glast ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/23 20:56
End of Day Share Price2019/08/23 00:00
Earnings2019/02/28
Annual Earnings2018/08/31


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.