ENXTPA:CRI

Stock Analysis Report

Executive Summary

Chargeurs SA operates as a manufacturing and services company in France and internationally.


Snowflake Analysis

Undervalued with reasonable growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

3.6%

CRI

-5.4%

FR Luxury

-4.6%

FR Market


1 Year Return

-47.7%

CRI

-9.2%

FR Luxury

-23.1%

FR Market

Return vs Industry: CRI underperformed the French Luxury industry which returned -9.2% over the past year.

Return vs Market: CRI underperformed the French Market which returned -23.1% over the past year.


Shareholder returns

CRIIndustryMarket
7 Day3.6%-5.4%-4.6%
30 Day-31.4%-16.0%-23.2%
90 Day-43.6%-24.0%-29.4%
1 Year-45.9%-47.7%-6.7%-9.2%-20.4%-23.1%
3 Year-49.1%-53.3%47.8%38.5%-4.9%-13.7%
5 Year65.6%40.7%84.2%66.8%1.3%-13.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Chargeurs 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: CRI (€9.57) is trading below our estimate of fair value (€25.52)

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


Price To Earnings Ratio

PE vs Industry: CRI is good value based on its PE Ratio (14.5x) compared to the Luxury industry average (23.1x).

PE vs Market: CRI is poor value based on its PE Ratio (14.5x) compared to the French market (13.2x).


Price to Earnings Growth Ratio

PEG Ratio: CRI is good value based on its PEG Ratio (0.5x)


Price to Book Ratio

PB vs Industry: CRI is good value based on its PB Ratio (0.9x) compared to the FR Luxury industry average (1.2x).


Next Steps

Future Growth

How is Chargeurs forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

28.5%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CRI's forecast earnings growth (28.5% per year) is above the savings rate (-0.1%).

Earnings vs Market: CRI's earnings (28.5% per year) are forecast to grow faster than the French market (12.1% per year).

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

Revenue vs Market: CRI's revenue (3.6% per year) is forecast to grow faster than the French market (3.5% per year).

High Growth Revenue: CRI's revenue (3.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CRI's Return on Equity is forecast to be low in 3 years time (14.6%).


Next Steps

Past Performance

How has Chargeurs performed over the past 5 years?

8.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CRI has a large one-off loss of €7.0M impacting its December 31 2019 financial results.

Growing Profit Margin: CRI's current net profit margins (2.4%) are lower than last year (4.6%).


Past Earnings Growth Analysis

Earnings Trend: CRI's earnings have grown by 8.5% per year over the past 5 years.

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

Earnings vs Industry: CRI had negative earnings growth (-43.2%) over the past year, making it difficult to compare to the Luxury industry average (-0.9%).


Return on Equity

High ROE: CRI's Return on Equity (6.5%) is considered low.


Next Steps

Financial Health

How is Chargeurs's financial position?


Financial Position Analysis

Short Term Liabilities: CRI's short term assets (€324.0M) exceed its short term liabilities (€189.0M).

Long Term Liabilities: CRI's short term assets (€324.0M) exceed its long term liabilities (€242.6M).


Debt to Equity History and Analysis

Debt Level: CRI's debt to equity ratio (93.1%) is considered high.

Reducing Debt: CRI's debt to equity ratio has increased from 51.1% to 93.1% over the past 5 years.

Debt Coverage: CRI's debt is not well covered by operating cash flow (11.8%).

Interest Coverage: CRI's interest payments on its debt are well covered by EBIT (4x coverage).


Balance Sheet

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

Debt Coverage by Assets: CRI's debt is covered by short term assets (assets are 1.5x debt).


Next Steps

Dividend

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

6.27%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: CRI's dividend (6.27%) is higher than the bottom 25% of dividend payers in the French market (2.07%).

High Dividend: CRI's dividend (6.27%) is low compared to the top 25% of dividend payers in the French market (6.36%).


Stability and Growth of Payments

Stable Dividend: CRI has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: CRI's dividend payments have increased, but the company has only paid a dividend for 5 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (90.9%), CRI's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CRI'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?

3.1yrs

Average management tenure


CEO

Michaël Fribourg (37yo)

4.5s

Tenure

€1,264,120

Compensation

Mr. Michaël Fribourg has been the Chairman and Chief Executive Officer of Chargeurs SA since October 30, 2015. Mr. Fribourg serves as Partner at Arjil & Associés Banque (formerly ARJIL & Partners). He is m ...


CEO Compensation Analysis

Compensation vs Market: Michaël's total compensation ($USD1.38M) is above average for companies of similar size in the French market ($USD428.07K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Michaël Fribourg
Chairman of the Board & CEO4.5yrs€1.26mno data
Olivier Buquen
Group Chief Financial Officer2.83yrsno datano data
Philippe Haroche
Vice President and General Counselno datano datano data
Joëlle Fabre-Hoffmeister
Group Secretary General & Chief Compliance Officerno datano datano data
Laurent Derolez
Managing Director of Chargeurs’ Protective Filmsno datano datano data
Federico Paullier
Managing Director of Chargeurs Luxury Materials2.83yrsno datano data
Cédric Ratouis
Deputy Chief Financial Officer3.08yrsno datano data
Pauline Bayec
Head of Financial Communications5.83yrsno datano data
Audrey Petit
Group Strategy Director & Head of Chargeurs Business Solutions3.17yrsno datano data
Sampiero Lanfranchi
MD of Chargeurs Technical Substrates & Advisor to the CEO2.83yrsno datano data

3.1yrs

Average Tenure

38yo

Average Age

Experienced Management: CRI's management team is considered experienced (3.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Michaël Fribourg
Chairman of the Board & CEO4.5yrs€1.26mno data
Georges Ralli
Non-Voting Director3.92yrs€51.43kno data
Isabelle Guichot
Independent Director3.92yrs€42.86kno data
Cécilia Ragueneau
Independent Director3yrs€68.57kno data
Emmanuel Coquoin
Director4.5yrs€68.57kno data
Nicolas Urbain
Director4.5yrs€68.57kno data
Maria Varciu
Independent Director1yrno datano data

3.9yrs

Average Tenure

56yo

Average Age

Experienced Board: CRI's board of directors are considered experienced (3.9 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

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


Key Information

  • Name: Chargeurs SA
  • Ticker: CRI
  • Exchange: ENXTPA
  • Founded: 1872
  • Industry: Textiles
  • Sector: Consumer Durables
  • Market Cap: €220.111m
  • Shares outstanding: 23.00m
  • Website: https://www.chargeurs.fr

Number of Employees


Location

  • Chargeurs SA
  • 112, avenue Kléber
  • Paris
  • Ile-de-France
  • 75016
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CRIENXTPA (Euronext Paris)YesCommon SharesFREURJun 1996
0E1YLSE (London Stock Exchange)YesCommon SharesGBEURJun 1996
CRIPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJun 1996
GETDB (Deutsche Boerse AG)YesCommon SharesDEEURJun 1996

Biography

Chargeurs SA operates as a manufacturing and services company in France and internationally. The company operates through four segments: Protective Films, Fashion Technologies, Technical Substrates, and Luxury Materials. The Protective Films segment develops, manufactures, and markets technical solutions to protect steel, aluminum, plastic, and other surfaces in the production process; and laminators for temporary surface protection films. The Fashion Technologies segment manufactures and markets garment interlinings. The Technical Substrates segment develops, manufactures, and markets functionalized coated technical substrates. The Luxury Materials segment manufactures and markets wool tops. It serves in Europe, the Americas, Asia, Oceania, and Africa. The company was formerly known as Chargetex 1 and changed its name to Chargeurs SA in 1997. Chargeurs SA was founded in 1872 and is headquartered in Paris, France. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/04 00:38
End of Day Share Price2020/04/03 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.