ENXTPA:SK

Stock Analysis Report

Executive Summary

SEB SA designs, manufactures, and markets small household appliances worldwide.


Snowflake Analysis

Adequate balance sheet average dividend payer.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: SK has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

2.2%

SK

2.1%

FR Consumer Durables

2.5%

FR Market


1 Year Return

-27.8%

SK

-25.9%

FR Consumer Durables

-18.6%

FR Market

Return vs Industry: SK matched the French Consumer Durables industry which returned -28.6% over the past year.

Return vs Market: SK underperformed the French Market which returned -18.9% over the past year.


Shareholder returns

SKIndustryMarket
7 Day2.2%2.1%2.5%
30 Day-4.8%-8.6%-17.0%
90 Day-14.3%-17.0%-25.0%
1 Year-26.8%-27.8%-24.5%-25.9%-15.7%-18.6%
3 Year-9.5%-12.9%-10.0%-14.5%0.8%-8.6%
5 Year78.0%65.7%64.2%48.5%10.8%-6.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is SEB undervalued compared to its fair value and its price relative to the market?

44.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SK (€113.5) is trading below our estimate of fair value (€204.05)

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


Price To Earnings Ratio

PE vs Industry: SK is poor value based on its PE Ratio (14.9x) compared to the Consumer Durables industry average (12.3x).

PE vs Market: SK is poor value based on its PE Ratio (14.9x) compared to the French market (13.1x).


Price to Earnings Growth Ratio

PEG Ratio: SK is poor value based on its PEG Ratio (1.5x)


Price to Book Ratio

PB vs Industry: SK is overvalued based on its PB Ratio (2.4x) compared to the FR Consumer Durables industry average (2.2x).


Next Steps

Future Growth

How is SEB forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

9.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SK's forecast earnings growth (9.8% per year) is above the savings rate (-0.1%).

Earnings vs Market: SK's earnings (9.8% per year) are forecast to grow slower than the French market (12.3% per year).

High Growth Earnings: SK's earnings are forecast to grow, but not significantly.

Revenue vs Market: SK's revenue (3.1% per year) is forecast to grow slower than the French market (3.6% per year).

High Growth Revenue: SK's revenue (3.1% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SK's Return on Equity is forecast to be low in 3 years time (15.1%).


Next Steps

Past Performance

How has SEB performed over the past 5 years?

19.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SK has high quality earnings.

Growing Profit Margin: SK's current net profit margins (5.2%) are lower than last year (6.2%).


Past Earnings Growth Analysis

Earnings Trend: SK's earnings have grown by 19% per year over the past 5 years.

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

Earnings vs Industry: SK had negative earnings growth (-9.4%) over the past year, making it difficult to compare to the Consumer Durables industry average (-3.2%).


Return on Equity

High ROE: SK's Return on Equity (16.3%) is considered low.


Next Steps

Financial Health

How is SEB's financial position?


Financial Position Analysis

Short Term Liabilities: SK's short term assets (€3.4B) exceed its short term liabilities (€2.3B).

Long Term Liabilities: SK's short term assets (€3.4B) exceed its long term liabilities (€2.9B).


Debt to Equity History and Analysis

Debt Level: SK's debt to equity ratio (92.8%) is considered high.

Reducing Debt: SK's debt to equity ratio has increased from 55.8% to 92.8% over the past 5 years.

Debt Coverage: SK's debt is well covered by operating cash flow (28%).

Interest Coverage: SK's interest payments on its debt are well covered by EBIT (17.9x coverage).


Balance Sheet

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

Debt Coverage by Assets: SK's debt is covered by short term assets (assets are 1.4x debt).


Next Steps

Dividend

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

1.88%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: SK's dividend (1.89%) isn’t notable compared to the bottom 25% of dividend payers in the French market (2.04%).

High Dividend: SK's dividend (1.89%) is low compared to the top 25% of dividend payers in the French market (6.44%).


Stability and Growth of Payments

Stable Dividend: SK's dividends per share have been stable in the past 10 years.

Growing Dividend: SK's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (28.1%), SK's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SK's dividends in 3 years are forecast to be well covered by earnings (26.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.3yrs

Average management tenure


CEO

Thierry de La d'Artaise (65yo)

20.17s

Tenure

€4,828,095

Compensation

Mr. Thierry de La Tour d'Artaise serves as the Chairman of SEB SA since 2000 and Chief Executive Officer since 1994. Mr. d'Artaise served as a Member of Group Management Board at SEB. Mr. d'Artaise serves  ...


CEO Compensation Analysis

Compensation vs Market: Thierry de La's total compensation ($USD5.33M) is above average for companies of similar size in the French market ($USD2.94M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Thierry de La d'Artaise
Chairman & CEO20.17yrs€4.83m1.06% 59.9m
Stanislas De Gramont
Chief Operating Officer1.25yrs€865.88kno data
Nathalie Lomon
Senior Executive VP & CFO1.17yrsno datano data
Isabelle Posth
Head of Financial Communication & Investor Relationsno datano datano data
Philippe Sumeire
General Counsel & Secretaryno datano datano data
Giles Pelissier
Brands and Communication Vice Presidentno datano datano data
Harry Touret
Senior Executive Vice President of Human Resourcesno datano datano data
Cyril Buxtorf
Executive Vice President of EMEAno datano datano data
Patrick Llobregat
Executive Vice President of Cookwareno datano datano data
Martin Zouhar
Executive Vice-President of North & Central Americano datano datano data

1.3yrs

Average Tenure

55yo

Average Age

Experienced Management: SK's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Thierry de La d'Artaise
Chairman & CEO20.17yrs€4.83m1.06% 59.9m
Jean-Noël Labroue
Independent Director9.83yrs€45.00k0.0025% 141.7k
Jerome Lescure
Director3.83yrs€40.00k0.13% 7.3m
Emmanuel Lescure
Honorary Chairmanno datano datano data
Hubert Fèvre
Director16.83yrs€40.00k0.040% 2.3m
Anne-Damarys Braida-Valerio
Director21.83yrs€40.00kno data
Yseulys Costes
Independent Director6.83yrs€37.50k0.0015% 85.0k
Sarah Chauleur
Director6.83yrs€30.00kno data
William Gairard
Director4.83yrs€30.00k0.85% 48.3m
Catherine Pourre
Independent Director6yrs€45.00kno data

6.8yrs

Average Tenure

57yo

Average Age

Experienced Board: SK's board of directors are considered experienced (6.8 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

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


Key Information

  • Name: SEB SA
  • Ticker: SK
  • Exchange: ENXTPA
  • Founded: 1857
  • Industry: Household Appliances
  • Sector: Consumer Durables
  • Market Cap: €5.669b
  • Shares outstanding: 49.94m
  • Website: https://www.groupeseb.com

Number of Employees


Location

  • SEB SA
  • Campus SEB – 112
  • Chemin du Moulin Carron
  • Écully
  • Rhône-Alpes
  • 69130
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SEBY.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDAug 1992
SKENXTPA (Euronext Paris)YesCommon StockFREURAug 1992
GRBDB (Deutsche Boerse AG)YesCommon StockDEEURAug 1992
0MGSLSE (London Stock Exchange)YesCommon StockGBEURAug 1992
SKPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURAug 1992
SEBY.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDFeb 2018

Biography

SEB SA designs, manufactures, and markets small household appliances worldwide. It provides kitchen electrics, including electrical cooking products comprising deep fryers, rice cookers, electric pressure cookers, informal meal appliances, waffle makers, grills, toasters, and multicookers; beverage preparation products, such as coffee makers, espresso machines, electric kettles, home beer-tapping machines, and soy milk makers; and food preparation products consisting of blenders, cooking food processors, kitchen machines, mixers, and beaters. The company also offers home and personal care products, including linen care products, such as steam irons and generators, and garment steamers; home care products consisting of cylinder vacuum cleaners and upright vacuum cleaners, as well as vacuum sweepers and versatile vacuums; and home comfort products, such as fans, heaters, and air treatment products, as well as personal care products comprising hair care appliances, depilators, and bathroom scales. In addition, it offers cookware products, such as frying pans, saucepans, pressure cookers, kitchen utensils, food storage containers, vacuum flasks, and mugs. Further, SEB SA provides ovens, plastic components, meat grinders, electronic components, cutlery, washing machines, induction hotplates, and garden products. The company offers its products primarily under the Tefal, Rowenta, Moulinex, Krups, Arno, Imusa, Seb, Calor, WMF, Lagostina, All-Clad, Silit, WMF, Schaerer, Hepp, and Wilbur Curtis brands. SEB SA was founded in 1857 and is headquartered in Écully, France. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/31 20:42
End of Day Share Price2020/03/31 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.