Market Cap
€59.6b
Last Updated
2020/04/07 22:05 UTC
Data Sources
Company Financials +
Executive Summary
Kering SA develops, designs, manufactures, markets, and sells apparel and accessories.
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer with reasonable growth potential.
Similar Companies
Share Price & News
How has Kering's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: KER's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
0.2%
KER
1.7%
FR Luxury
1.8%
FR Market
1 Year Return
-7.9%
KER
-1.4%
FR Luxury
-17.5%
FR Market
Return vs Industry: KER underperformed the French Luxury industry which returned -9.2% over the past year.
Return vs Market: KER exceeded the French Market which returned -23.2% over the past year.
Shareholder returns
| KER | Industry | Market | |
|---|---|---|---|
| 7 Day | 0.2% | 1.7% | 1.8% |
| 30 Day | -1.3% | -5.2% | -12.1% |
| 90 Day | -20.1% | -19.4% | -24.9% |
| 1 Year | -6.1%-7.9% | 1.3%-1.4% | -14.6%-17.5% |
| 3 Year | 116.9%91.2% | 57.8%47.9% | 1.8%-7.6% |
| 5 Year | 225.5%173.4% | 99.1%80.3% | 8.3%-7.2% |
Price Volatility Vs. Market
How volatile is Kering's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 days ago | Simply Wall St
Here's What Kering SA's (EPA:KER) ROCE Can Tell Us2 weeks ago | Simply Wall St
Kering SA (EPA:KER) Analysts Just Trimmed Their Revenue Forecasts By 10%3 weeks ago | Simply Wall St
Should You Or Shouldn't You: A Dividend Analysis on Kering SA (EPA:KER)Valuation
Is Kering undervalued compared to its fair value and its price relative to the market?
3.1%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: KER (€468.4) is trading below our estimate of fair value (€495.92)
Significantly Below Fair Value: KER is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: KER is poor value based on its PE Ratio (26.9x) compared to the Luxury industry average (23.1x).
PE vs Market: KER is poor value based on its PE Ratio (26.9x) compared to the French market (13.3x).
Price to Earnings Growth Ratio
PEG Ratio: KER is poor value based on its PEG Ratio (1.7x)
Price to Book Ratio
PB vs Industry: KER is overvalued based on its PB Ratio (5.7x) compared to the FR Luxury industry average (1.2x).
Next Steps
Future Growth
How is Kering forecast to perform in the next 1 to 3 years based on estimates from 22 analysts?
15.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: KER's forecast earnings growth (15.6% per year) is above the savings rate (-0.1%).
Earnings vs Market: KER's earnings (15.6% per year) are forecast to grow faster than the French market (12.2% per year).
High Growth Earnings: KER's earnings are forecast to grow, but not significantly.
Revenue vs Market: KER's revenue (5.2% per year) is forecast to grow faster than the French market (3.5% per year).
High Growth Revenue: KER's revenue (5.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: KER's Return on Equity is forecast to be high in 3 years time (24.9%)
Next Steps
Past Performance
How has Kering performed over the past 5 years?
26.9%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: KER has high quality earnings.
Growing Profit Margin: KER's current net profit margins (13.7%) are lower than last year (19.2%).
Past Earnings Growth Analysis
Earnings Trend: KER's earnings have grown significantly by 26.9% per year over the past 5 years.
Accelerating Growth: KER's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: KER had negative earnings growth (-16.7%) over the past year, making it difficult to compare to the Luxury industry average (-0.9%).
Return on Equity
High ROE: KER's Return on Equity (21.2%) is considered high.
Next Steps
Financial Health
How is Kering's financial position?
Financial Position Analysis
Short Term Liabilities: KER's short term assets (€7.5B) do not cover its short term liabilities (€8.1B).
Long Term Liabilities: KER's short term assets (€7.5B) do not cover its long term liabilities (€8.6B).
Debt to Equity History and Analysis
Debt Level: KER's debt to equity ratio (48.8%) is considered high.
Reducing Debt: KER's debt to equity ratio has increased from 48.1% to 48.8% over the past 5 years.
Debt Coverage: KER's debt is well covered by operating cash flow (51.9%).
Interest Coverage: KER's interest payments on its debt are well covered by EBIT (29.4x coverage).
Balance Sheet
Next Steps
Dividend
What is Kering's current dividend yield, its reliability and sustainability?
2.41%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: KER's dividend (2.46%) is higher than the bottom 25% of dividend payers in the French market (2.08%).
High Dividend: KER's dividend (2.46%) is low compared to the top 25% of dividend payers in the French market (6.37%).
Stability and Growth of Payments
Stable Dividend: KER's dividends per share have been stable in the past 10 years.
Growing Dividend: KER's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonable payout ratio (66.1%), KER's dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: KER's dividends in 3 years are forecast to be well covered by earnings (46.4% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
7.9yrs
Average management tenure
CEO
François-Henri Pinault (57yo)
15.08s
Tenure
€12,180,916
Compensation
Mr. François-Henri Pinault has been the Chairman and Chief Executive Officer of Kering SA since May 19, 2005 and March 21, 2005 respectively. He serves as Chairman of Group PPR and Chief Executive of Group ...
CEO Compensation Analysis
Compensation vs Market: François-Henri's total compensation ($USD13.14M) is above average for companies of similar size in the French market ($USD4.05M).
Compensation vs Earnings: François-Henri's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 15.08yrs | €12.18m | no data | |
| Deputy CEO & Director | 10.92yrs | €9.82m | 0.056% €33.1m | |
| Event Production Manager & Employees Representing Director | 1.75yrs | €17.32k | no data | |
| Human Resources Project Coordinator | no data | €43.19k | no data | |
| Chief Financial Officer | 8.17yrs | no data | no data | |
| Legal Director | 5.83yrs | no data | no data | |
| Chief Communications & Image Officer | 3.92yrs | no data | no data | |
| Chief People Officer | 4.08yrs | no data | no data | |
| Head of Kering Americas | 12.58yrs | no data | no data | |
| Chief Sustainability Officer & Head of International Institutional Affairs | 7.58yrs | no data | no data |
7.9yrs
Average Tenure
52yo
Average Age
Experienced Management: KER's management team is seasoned and experienced (7.9 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO | 15.08yrs | €12.18m | no data | |
| Deputy CEO & Director | 10.92yrs | €9.82m | 0.056% €33.1m | |
| Event Production Manager & Employees Representing Director | 1.75yrs | €17.32k | no data | |
| Chairman of FNAC and Chief Executive Officer of FNAC | 9.42yrs | no data | no data | |
| Director | 14.92yrs | €49.49k | 0.00048% €286.2k | |
| Independent Director | 11.83yrs | €104.56k | 0.00040% €238.5k | |
| Vice-Chairman of the Board | 1.33yrs | no data | no data | |
| Honorary Chairman | no data | no data | 0.029% €17.3m | |
| Independent Director | 9.92yrs | €74.19k | 0.00040% €238.5k | |
| Lead Independent Director | 1.17yrs | €104.56k | 0.00070% €417.4k |
9.9yrs
Average Tenure
56.5yo
Average Age
Experienced Board: KER's board of directors are considered experienced (9.9 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
Kering SA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Kering SA
- Ticker: KER
- Exchange: ENXTPA
- Founded: 1963
- Industry: Apparel, Accessories and Luxury Goods
- Sector: Consumer Durables
- Market Cap: €59.634b
- Shares outstanding: 125.02m
- Website: https://www.kering.com
Number of Employees
Location
- Kering SA
- 40 rue de SEvres
- Paris
- Ile-de-France
- 75007
- France
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| KER | ENXTPA (Euronext Paris) | Yes | Ordinary Shares | FR | EUR | Jan 1992 |
| 0IIH | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Jan 1992 |
| KER | BIT (Borsa Italiana) | Yes | Ordinary Shares | IT | EUR | Jan 1992 |
| PPX | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jan 1992 |
| PPRU.F | OTCPK (Pink Sheets LLC) | Yes | Ordinary Shares | US | USD | Jan 1992 |
| KERP | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Jan 1992 |
| PPX | XTRA (XETRA Trading Platform) | Yes | Ordinary Shares | DE | EUR | Jan 1992 |
| KER | WBAG (Wiener Boerse AG) | Yes | Ordinary Shares | AT | EUR | Jan 1992 |
| KER N | BMV (Bolsa Mexicana de Valores) | Yes | Ordinary Shares | MX | MXN | Jan 1992 |
| KER | SWX (SIX Swiss Exchange) | Yes | Ordinary Shares | CH | CHF | Jan 1992 |
| PPRU.Y | OTCPK (Pink Sheets LLC) | UNSPONSORED ADR | US | USD | Oct 2008 | |
| PPXB | DB (Deutsche Boerse AG) | UNSPONSORED ADR | DE | EUR | Oct 2008 |
Biography
Kering SA develops, designs, manufactures, markets, and sells apparel and accessories. The company offers shoes; leather goods, including handbags and wallets, and other leather products; eyewear, textile accessories, etc.; jewelry and watches; and T-shirts, sweatshirts, polo shirts, etc., as well as ready-to-wear products for men and women. It also provides perfumes and cosmetics. The company provides its products under the Gucci, Saint Laurent, Balenciaga, Alexander McQueen, Bottega Veneta, Brioni, Girard-Perregaux, Boucheron, Ulysse Nardin, Pomellato, DoDo, Kering, Qeelin, Courrèges, Montblanc, Cartier, and Alaïa brands. It sells its products through department stores, multi-brand stores, and franchise stores, as well as retail channels and e-commerce sites. Kering SA sells its products in the Asia-Pacific, Western Europe, North America, Japan, and internationally. The company was formerly known as PPR SA and changed its name to Kering SA in June 2013. Kering SA was founded in 1963 and is based in Paris, France.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/04/07 22:05 |
| End of Day Share Price | 2020/04/07 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.