Board Change • Jun 01
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Deputy CEO & Director David Laurent was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • May 08
Dividend of €2.20 announced Dividend of €2.20 is the same as last year. Ex-date: 11th May 2026 Payment date: 13th May 2026 Dividend yield will be 8.0%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but not covered by cash flows (dividend approximately 9x free cash flows). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 10% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 07
Kaufman & Broad S.A. (ENXTPA:KOF) commences an Equity Buyback for 1,742,082 shares, representing 8.77% of its issued share capital, under the authorization approved on May 5, 2026. Kaufman & Broad S.A. (ENXTPA:KOF) commences a share repurchases on May 5, 2026, under the program mandated by the shareholders in the Annual General Meeting held on May 5, 2026. As per the mandate, the company is authorized to repurchase up to will repurchase up to for 1,742,082 shares, representing 8.77% of its issued share capital. The maximum purchase price should not exceed €50 per share. The purpose of the program is to acquire shares to be held and subsequently delivered in payment or exchanged as part of corporate acquisition transactions. The repurchased shares will be cancelled. The program is valid for 18 months. Reported Earnings • Apr 20
First quarter 2026 earnings released: EPS: €0.60 (vs €0.58 in 1Q 2025) First quarter 2026 results: EPS: €0.60 (up from €0.58 in 1Q 2025). Revenue: €235.8m (down 5.7% from 1Q 2025). Net income: €11.8m (up 2.0% from 1Q 2025). Profit margin: 5.0% (up from 4.6% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 3.7% growth forecast for the Consumer Durables industry in France. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Mar 30
Kaufman & Broad S.A., Annual General Meeting, May 05, 2026 Kaufman & Broad S.A., Annual General Meeting, May 05, 2026. Location: 17 quai du president paul doumer, courbevoie France Reported Earnings • Jan 29
Full year 2025 earnings: Revenues in line with analyst expectations Full year 2025 results: Revenue: €1.14b (up 5.5% from FY 2024). Net income: €54.2m (up 21% from FY 2024). Profit margin: 4.8% (up from 4.2% in FY 2024). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Revenue is forecast to grow 6.9% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Consumer Durables industry in France. Reported Earnings • Oct 03
Third quarter 2025 earnings released: EPS: €0.51 (vs €0.61 in 3Q 2024) Third quarter 2025 results: EPS: €0.51 (down from €0.61 in 3Q 2024). Revenue: €245.3m (down 21% from 3Q 2024). Net income: €10.1m (down 16% from 3Q 2024). Profit margin: 4.1% (up from 3.8% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Durables industry in France. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Announcement • Oct 03
Kaufman & Broad S.A. to Report Fiscal Year 2025 Results on Jan 28, 2026 Kaufman & Broad S.A. announced that they will report fiscal year 2025 results After-Market on Jan 28, 2026 Reported Earnings • Jul 14
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €249.3m (up 11% from 2Q 2024). Net income: €11.6m (up 16% from 2Q 2024). Profit margin: 4.7% (up from 4.5% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Consumer Durables industry in France. Announcement • Jul 13
Kaufman & Broad S.A. Reaffirms Earnings Guidance for the Full Year 2025 Kaufman & Broad S.A. reaffirmed earnings guidance for the full year 2025. The guidance given in January for the full 2025 financial year remains unchanged: sales should grow by around 5%. Operating profit or EBIT ratio should be between 7.5% and 8%. Declared Dividend • May 08
Dividend reduced to €2.20 Dividend of €2.20 is 8.3% lower than last year. Ex-date: 9th May 2025 Payment date: 13th May 2025 Dividend yield will be 6.4%, which is higher than the industry average of 3.0%. Sustainability & Growth Dividend is not adequately covered by earnings (95% earnings payout ratio). However, it is well covered by cash flows (15% cash payout ratio). The dividend has increased by an average of 4.9% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 5.8% to bring the payout ratio under control. EPS is expected to grow by 43% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Apr 14
First quarter 2025 earnings released First quarter 2025 results: Revenue: €250.1m (up 9.7% from 1Q 2024). Net income: €11.6m (up 5.0% from 1Q 2024). Profit margin: 4.6% (down from 4.8% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Consumer Durables industry in France. Announcement • Apr 14
Kaufman & Broad S.A. Maintains Earnings Guidance for the Year 2025 Kaufman & Broad S.A. maintained earnings guidance for the year 2025. For the year, the company sales are expected to increase by around 5%. The Operating Margin rate or EBIT rate is expected to be between 7.5% and 8%. Announcement • Feb 01
Kaufman & Broad S.A., Annual General Meeting, May 06, 2025 Kaufman & Broad S.A., Annual General Meeting, May 06, 2025. Reported Earnings • Jul 12
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €224.5m (down 14% from 2Q 2023). Net income: €10.0m (up 44% from 2Q 2023). Profit margin: 4.5% (up from 2.6% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Durables industry in France. Price Target Changed • May 29
Price target increased by 7.6% to €33.84 Up from €31.46, the current price target is an average from 7 analysts. New target price is 6.8% above last closing price of €31.70. Stock is up 23% over the past year. The company is forecast to post earnings per share of €1.88 for next year compared to €2.96 last year. Reported Earnings • Apr 10
First quarter 2024 earnings released First quarter 2024 results: Revenue: €228.0m (down 61% from 1Q 2023). Net income: €11.0m (down 65% from 1Q 2023). Profit margin: 4.8% (down from 5.4% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 3.5% growth forecast for the Consumer Durables industry in France. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Major Estimate Revision • Feb 08
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €1.18b to €1.13b. EPS estimate also fell from €2.16 per share to €1.94 per share. Net income forecast to shrink 34% next year vs 19% growth forecast for Consumer Durables industry in France . Consensus price target up from €31.46 to €32.50. Share price was steady at €29.20 over the past week. Announcement • Feb 02
Kaufman & Broad S.A., Annual General Meeting, May 06, 2024 Kaufman & Broad S.A., Annual General Meeting, May 06, 2024. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 4 highly experienced directors. Director Michel Giannuzzi was the last director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Buying Opportunity • Oct 23
Now 21% undervalued Over the last 90 days, the stock is up 3.9%. The fair value is estimated to be €32.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 10.0% over the last 3 years. Earnings per share has grown by 17%. Revenue is forecast to decline by 13% in 2 years. Earnings is forecast to decline by 10% in the next 2 years. Reported Earnings • Oct 05
Third quarter 2023 earnings released Third quarter 2023 results: EPS: €0.34. Revenue: €235.1m (down 25% from 3Q 2022). Net income: €6.98m (down 24% from 3Q 2022). Profit margin: 3.0% (in line with 3Q 2022). Revenue is expected to decline by 5.7% p.a. on average during the next 3 years, while revenues in the Consumer Durables industry in France are expected to grow by 3.6%. Buying Opportunity • Sep 04
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.1%. The fair value is estimated to be €33.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.8% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to decline by 17% in 2 years. Earnings is forecast to decline by 13% in the next 2 years. Price Target Changed • Jul 20
Price target decreased by 8.3% to €30.60 Down from €33.37, the current price target is an average from 6 analysts. New target price is 29% above last closing price of €23.80. Stock is down 9.3% over the past year. The company is forecast to post earnings per share of €2.77 for next year compared to €2.33 last year. Reported Earnings • Jul 14
Second quarter 2023 earnings released: EPS: €0.33 (vs €0.51 in 2Q 2022) Second quarter 2023 results: EPS: €0.33 (down from €0.51 in 2Q 2022). Revenue: €262.3m (down 11% from 2Q 2022). Net income: €6.95m (down 36% from 2Q 2022). Profit margin: 2.6% (down from 3.7% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 4.3% p.a. on average during the next 3 years, while revenues in the Consumer Durables industry in France are expected to grow by 3.4%. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Price Target Changed • Jul 13
Price target decreased by 7.7% to €31.78 Down from €34.42, the current price target is an average from 6 analysts. New target price is 30% above last closing price of €24.40. Stock is up 0.4% over the past year. The company is forecast to post earnings per share of €3.05 for next year compared to €2.33 last year. Announcement • Jul 13
Kaufman & Broad S.A. Provides Earnings Guidance for the Year 2023 Kaufman & Broad S.A. provided earnings guidance for the year 2023. For the year, the company’s attributable net income is expected to increase by around 20%, the current operating income (COI) rate is expected to be around 8%, revenue is expected to grow by 6 to 10%. New Risk • Jul 06
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 103% Dividend per share is over 6x cash flows per share. Dividend yield: 9.5% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 103% Dividend per share is over 6x cash flows per share. Earnings are forecast to decline by an average of 6.2% per year for the foreseeable future. Reported Earnings • Apr 15
First quarter 2023 earnings released: EPS: €1.50 (vs €0.55 in 1Q 2022) First quarter 2023 results: EPS: €1.50 (up from €0.55 in 1Q 2022). Revenue: €586.5m (up 110% from 1Q 2022). Net income: €31.6m (up 167% from 1Q 2022). Profit margin: 5.4% (up from 4.2% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 4.7% growth forecast for the Consumer Durables industry in France. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 31
Full year 2022 earnings: Revenues miss analyst expectations Full year 2022 results: Revenue: €1.31b (up 2.6% from FY 2021). Net income: €49.0m (up 12% from FY 2021). Profit margin: 3.7% (up from 3.4% in FY 2021). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 4.0%. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Consumer Durables industry in France. Major Estimate Revision • Oct 21
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €1.32b to €1.37b. EPS estimate increased from €2.20 to €2.43 per share. Net income forecast to grow 62% next year vs 75% growth forecast for Consumer Durables industry in France. Consensus price target broadly unchanged at €34.50. Share price rose 10% to €23.15 over the past week. Price Target Changed • Oct 05
Price target decreased to €34.50 Down from €37.50, the current price target is an average from 6 analysts. New target price is 55% above last closing price of €22.20. Stock is down 35% over the past year. The company is forecast to post earnings per share of €2.20 for next year compared to €2.06 last year. Reported Earnings • Oct 04
Third quarter 2022 earnings released Third quarter 2022 results: EPS: €0.44. Revenue: €311.4m (up 9.8% from 3Q 2021). Net income: €9.20m (up 2.4% from 3Q 2021). Profit margin: 3.0% (down from 3.2% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Consumer Durables industry in France. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 13
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: €295.4m (down 7.7% from 2Q 2021). Net income: €10.9m (flat on 2Q 2021). Profit margin: 3.7% (up from 3.4% in 2Q 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 23%, compared to a 11% growth forecast for the industry in France. Price Target Changed • Jun 15
Price target decreased to €40.47 Down from €43.67, the current price target is an average from 6 analysts. New target price is 57% above last closing price of €25.85. Stock is down 35% over the past year. The company is forecast to post earnings per share of €2.11 for next year compared to €2.06 last year. Upcoming Dividend • May 25
Upcoming dividend of €1.95 per share Eligible shareholders must have bought the stock before 01 June 2022. Payment date: 03 June 2022. Payout ratio is on the higher end at 91%, however this is supported by cash flows. Trailing yield: 7.3%. Within top quartile of French dividend payers (5.0%). Higher than average of industry peers (3.0%). Reported Earnings • Apr 16
First quarter 2022 earnings: EPS and revenues miss analyst expectations First quarter 2022 results: EPS: €0.58 (up from €0.54 in 1Q 2021). Revenue: €279.0m (down 2.4% from 1Q 2021). Net income: €11.8m (flat on 1Q 2021). Profit margin: 4.2% (up from 4.1% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 13%. Earnings per share (EPS) also missed analyst estimates by 37%. Over the next year, revenue is forecast to grow 13%, compared to a 6.5% growth forecast for the industry in France. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Price Target Changed • Apr 13
Price target decreased to €42.63 Down from €46.14, the current price target is an average from 6 analysts. New target price is 52% above last closing price of €28.10. Stock is down 31% over the past year. The company is forecast to post earnings per share of €2.28 for next year compared to €2.06 last year. Reported Earnings • Jan 30
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: €1.28b (up 10% from FY 2020). Net income: €43.9m (up 9.3% from FY 2020). Profit margin: 3.4% (down from 3.5% in FY 2020). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 20%, compared to a 8.2% growth forecast for the industry in France. Major Estimate Revision • Jan 29
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from €1.62b to €1.53b. EPS estimate also fell from €3.27 per share to €2.79 per share. Net income forecast to grow 5.9% next year vs 5.9% growth forecast for Consumer Durables industry in France. Consensus price target down from €47.47 to €46.14. Share price was steady at €33.90 over the past week. Reported Earnings • Oct 03
Third quarter 2021 earnings released: EPS €0.42 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: €283.5m (up 4.1% from 3Q 2020). Net income: €8.98m (up 5.6% from 3Q 2020). Profit margin: 3.2% (up from 3.1% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Major Estimate Revision • Jul 19
Consensus EPS estimates fall to €2.29 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from €1.54b to €1.39b. EPS estimate also fell from €3.12 to €2.29. Net income forecast to grow 5.6% next year vs 36% growth forecast for Consumer Durables industry in France. Consensus price target broadly unchanged at €46.79. Share price fell 3.2% to €37.65 over the past week. Reported Earnings • Jul 14
Second quarter 2021 earnings released: EPS €0.50 (vs €0.51 loss in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €319.9m (up 273% from 2Q 2020). Net income: €10.9m (up €22.0m from 2Q 2020). Profit margin: 3.4% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Upcoming Dividend • May 26
Upcoming dividend of €1.85 per share Eligible shareholders must have bought the stock before 02 June 2021. Payment date: 04 June 2021. Trailing yield: 4.8%. Within top quartile of French dividend payers (3.8%). Higher than average of industry peers (1.8%). Major Estimate Revision • Apr 25
Consensus EPS estimates fall to €2.60 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from €1.62b to €1.54b. EPS estimate also fell from €3.60 to €2.60. Net income forecast to grow 61% next year vs 36% growth forecast for Consumer Durables industry in France. Consensus price target broadly unchanged at €46.29. Share price was steady at €39.10 over the past week. Reported Earnings • Apr 17
First quarter 2021 earnings released The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: €285.9m (down 4.4% from 1Q 2020). Net income: €11.8m (down 11% from 1Q 2020). Profit margin: 4.1% (down from 4.4% in 1Q 2020). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Apr 12
Investor sentiment improved over the past week After last week's 16% share price gain to €43.70, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 16x in the Consumer Durables industry in France. Total returns to shareholders of 19% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €52.92 per share. Price Target Changed • Feb 13
Price target raised to €46.08 Up from €42.64, the current price target is an average from 7 analysts. The new target price is 21% above the current share price of €38.15. As of last close, the stock is down 0.7% over the past year. Price Target Changed • Feb 10
Price target raised to €44.64 Up from €40.79, the current price target is an average from 7 analysts. The new target price is 18% above the current share price of €37.85. As of last close, the stock is down 2.4% over the past year. Reported Earnings • Jan 30
Full year 2020 earnings released: EPS €1.85 (vs €3.55 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €1.16b (down 21% from FY 2019). Net income: €40.1m (down 47% from FY 2019). Profit margin: 3.5% (down from 5.2% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Jan 30
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Over the next year, revenue is forecast to grow 33%, compared to a 6.2% growth forecast for the Consumer Durables industry in France. Is New 90 Day High Low • Jan 08
New 90-day high: €39.75 The company is up 18% from its price of €33.75 on 09 October 2020. The French market is up 14% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €50.81 per share. Is New 90 Day High Low • Dec 16
New 90-day high: €38.25 The company is up 14% from its price of €33.70 on 17 September 2020. The French market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Durables industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €49.17 per share. Is New 90 Day High Low • Nov 11
New 90-day high: €36.10 The company is up 2.0% from its price of €35.25 on 12 August 2020. The French market is up 8.0% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Durables industry, which is down 1.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €41.18 per share. Reported Earnings • Oct 08
Third quarter earnings released Over the last 12 months the company has reported total profits of €31.6m, down 58% from the prior year. Total revenue was €1.10b over the last 12 months, down 26% from the prior year. Analyst Estimate Surprise Post Earnings • Oct 08
Third-quarter earnings released: Revenue and earnings miss expectations Third-quarter revenue missed analyst estimates by 2.5% at €272.4m. Earnings per share (EPS) also missed analyst estimates by 5.0% at €0.38. Revenue is forecast to grow 27% over the next year, compared to a 4.8% growth forecast for the Consumer Durables industry in France. Major Estimate Revision • Oct 05
Analysts lower EPS estimates to €1.34 The 2020 consensus revenue estimate was lowered from €1.03b to €1.02b. Earning per share (EPS) estimate was also lowered from €1.61 to €1.34 for the same period. Net income is expected to grow by 22% next year compared to 26% growth forecast for the Consumer Durables industry in France. The consensus price target of €38.14 was unchanged from the last update. Share price is up 1.7% to €33.35 over the past week.