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Carrefour

ENXTPA:CA
Snowflake Description

Moderate growth potential with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CA
ENXTPA
€14B
Market Cap
  1. Home
  2. FR
  3. Consumer Retailing
Company description

Carrefour SA operates stores in various formats and channels in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, China, and Taiwan. The last earnings update was 210 days ago. More info.


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CA Share Price and Events
7 Day Returns
0%
ENXTPA:CA
0.3%
FR Consumer Retailing
2.1%
FR Market
1 Year Returns
-6.3%
ENXTPA:CA
-7%
FR Consumer Retailing
-1%
FR Market
CA Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Carrefour (CA) 0% 8.7% 6.6% -6.3% -24.1% -33.5%
FR Consumer Retailing 0.3% 9.9% 7.3% -7% -16.2% -38.8%
FR Market 2.1% 6.4% 5.6% -1% 30.7% 26.3%
1 Year Return vs Industry and Market
  • CA underperformed the Market in France which returned -1% over the past year.
Price Volatility
CA
Industry
5yr Volatility vs Market
Related Companies

Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Carrefour to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our calculation method for this is changing soon.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Carrefour.

ENXTPA:CA Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 18 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year FR Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTPA:CA
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 9.3%
Consumer Retailing Unlevered Beta Simply Wall St/ S&P Global 0.56
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.562 (1 + (1- 33%) (100.25%))
0.94
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.94
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (0.94 * 9.27%)
9.44%

Discounted Cash Flow Calculation for ENXTPA:CA using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Carrefour is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

ENXTPA:CA DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (EUR, Millions) 1,033.80 1,264.63 1,634.00 1,745.00 1,765.31
Source Analyst x9 Analyst x8 Analyst x1 Analyst x1 Est @ 1.16%
Present Value
Discounted (@ 9.44%)
944.61 1,055.84 1,246.54 1,216.37 1,124.37
Present value of next 5 years cash flows €5,587.73
ENXTPA:CA DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= €1,765.31 × (1 + 0.73%) ÷ (9.44% – 0.73%)
€20,419.52
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= €20,419.52 ÷ (1 + 9.44%)5
€13,005.71
ENXTPA:CA Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= €5,587.73 + €13,005.71
€18,593.44
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €18,593.44 / 777.53
€23.91
ENXTPA:CA Discount to Share Price
Calculation Result
Value per share (EUR) From above. €23.91
Current discount Discount to share price of €17.76
= -1 x (€17.76 - €23.91) / €23.91
25.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Carrefour is available for.
Intrinsic value
26%
Share price is €17.76 vs Future cash flow value of €23.91
Current Discount Checks
For Carrefour to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Carrefour's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Carrefour's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Carrefour's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Carrefour's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:CA PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in EUR €-1.69
ENXTPA:CA Share Price ** ENXTPA (2019-02-21) in EUR €17.76
Europe Consumer Retailing Industry PE Ratio Median Figure of 34 Publicly-Listed Consumer Retailing Companies 20.1x
France Market PE Ratio Median Figure of 416 Publicly-Listed Companies 15.18x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Carrefour.

ENXTPA:CA PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:CA Share Price ÷ EPS (both in EUR)

= 17.76 ÷ -1.69

-10.53x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Carrefour is loss making, we can't compare its value to the Europe Consumer Retailing industry average.
  • Carrefour is loss making, we can't compare the value of its earnings to the France market.
Price based on expected Growth
Does Carrefour's expected growth come at a high price?
Raw Data
ENXTPA:CA PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -10.53x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts
41.9%per year
Europe Consumer Retailing Industry PEG Ratio Median Figure of 26 Publicly-Listed Consumer Retailing Companies 1.37x
France Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.31x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Carrefour, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Carrefour's assets?
Raw Data
ENXTPA:CA PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in EUR €11.02
ENXTPA:CA Share Price * ENXTPA (2019-02-21) in EUR €17.76
France Consumer Retailing Industry PB Ratio Median Figure of 5 Publicly-Listed Consumer Retailing Companies 0.83x
France Market PB Ratio Median Figure of 617 Publicly-Listed Companies 1.49x
ENXTPA:CA PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:CA Share Price ÷ Book Value per Share (both in EUR)

= 17.76 ÷ 11.02

1.61x

* Primary Listing of Carrefour.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Carrefour is overvalued based on assets compared to the FR Consumer Retailing industry average.
X
Value checks
We assess Carrefour's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Consumer Retailing industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Consumer Retailing industry average (and greater than 0)? (1 check)
  5. Carrefour has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Carrefour expected to perform in the next 1 to 3 years based on estimates from 18 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
41.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Carrefour expected to grow at an attractive rate?
  • Carrefour's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Carrefour's earnings growth is expected to exceed the France market average.
  • Carrefour's revenue growth is positive but not above the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:CA Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:CA Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts 41.9%
ENXTPA:CA Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 18 Analysts 1.7%
Europe Consumer Retailing Industry Earnings Growth Rate Market Cap Weighted Average 13.5%
Europe Consumer Retailing Industry Revenue Growth Rate Market Cap Weighted Average 4.2%
France Market Earnings Growth Rate Market Cap Weighted Average 12.1%
France Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTPA:CA Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:CA Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 82,099 3,545 1,113 1
2021-12-31 80,104 3,434 1,055 1
2020-12-31 79,768 2,960 1,029 9
2019-12-31 77,548 2,722 810 7
2018-12-31 76,304 2,270 42 9
ENXTPA:CA Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-06-30 79,243 2,961 -1,292
2018-03-31 79,867 2,902 -912
2017-12-31 80,491 2,843 -532
2017-09-30 80,013 2,791 137
2017-06-30 80,063 2,739 757
2017-03-31 79,182 3,022 772
2016-12-31 78,301 3,305 786
2016-09-30 77,626 3,090 845
2016-06-30 76,950 2,874 903
2016-03-31 77,663 2,846 940
2015-12-31 78,376 2,818 976
2015-09-30 78,104 2,867 995

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Carrefour's earnings are expected to grow significantly at over 20% yearly.
  • Carrefour's revenue is expected to grow by 1.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTPA:CA Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (7 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below

All data from Carrefour Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:CA Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 1.31 1.31 1.31 1.00
2021-12-31 1.26 1.26 1.26 1.00
2020-12-31 1.31 1.45 1.11 7.00
2019-12-31 1.07 1.24 0.78 10.00
2018-12-31 0.07 0.58 -0.42 7.00
ENXTPA:CA Past Financials Data
Date (Data in EUR Millions) EPS *
2018-06-30 -1.69
2018-03-31 -1.20
2017-12-31 -0.70
2017-09-30 0.18
2017-06-30 1.01
2017-03-31 1.04
2016-12-31 1.06
2016-09-30 1.15
2016-06-30 1.24
2016-03-31 1.29
2015-12-31 1.35
2015-09-30 1.38

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Carrefour is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Carrefour's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Carrefour has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Carrefour performed over the past 5 years?

  • Carrefour's last earnings update was 210 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Carrefour's growth in the last year to its industry (Consumer Retailing).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Carrefour does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Carrefour's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Carrefour's 1-year growth to the Europe Consumer Retailing industry average as it is not currently profitable.
Earnings and Revenue History
Carrefour's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Carrefour Company Filings, last reported 7 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:CA Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 79,243.00 -1,292.00 12,801.00
2018-03-31 79,867.00 -912.00 13,006.50
2017-12-31 80,491.00 -532.00 13,212.00
2017-09-30 80,013.00 137.00 13,087.00
2017-06-30 80,063.00 757.00 13,084.00
2017-03-31 79,182.00 771.50 12,941.00
2016-12-31 78,301.00 786.00 12,798.00
2016-09-30 77,625.50 844.50 13,477.00
2016-06-30 76,950.00 903.00 14,156.00
2016-03-31 77,663.00 939.50 13,844.00
2015-12-31 78,376.00 976.00 13,532.00
2015-09-30 78,103.50 995.00 13,279.00
2015-06-30 77,831.00 1,014.00 13,026.00
2015-03-31 76,850.00 1,098.00 13,173.00
2014-12-31 75,869.00 1,182.00 13,320.00
2014-09-30 75,737.50 1,001.50 12,733.50
2014-06-30 75,606.00 821.00 12,147.00
2014-03-31 75,899.50 889.00 12,058.00
2013-12-31 76,193.00 957.00 11,969.00
2013-09-30 76,412.50 701.00 11,949.00
2013-06-30 76,632.00 445.00 11,929.00
2013-03-31 76,742.00 317.50 11,896.50
2012-12-31 76,852.00 190.00 11,864.00
2012-09-30 76,156.50 -223.50 11,755.00
2012-06-30 75,461.00 -637.00 11,646.00
2012-03-31 76,238.50 -1,191.00 11,743.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Carrefour has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Carrefour has efficiently used its assets last year compared to the Europe Consumer Retailing industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Carrefour improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Carrefour's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Consumer Retailing industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Carrefour has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Carrefour's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Carrefour's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Carrefour's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Carrefour's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Carrefour's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Carrefour Company Filings, last reported 7 months ago.

ENXTPA:CA Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 10,393.00 13,843.00 2,113.00
2018-03-31 10,393.00 13,843.00 2,113.00
2017-12-31 12,158.00 12,975.00 3,727.00
2017-09-30 12,158.00 12,975.00 3,727.00
2017-06-30 11,279.00 14,935.00 1,753.00
2017-03-31 11,279.00 14,935.00 1,753.00
2016-12-31 12,008.00 13,405.00 3,495.00
2016-09-30 12,008.00 13,405.00 3,495.00
2016-06-30 11,294.00 14,543.00 1,868.00
2016-03-31 11,294.00 14,543.00 1,868.00
2015-12-31 10,672.00 12,877.00 2,931.00
2015-09-30 10,672.00 12,877.00 2,931.00
2015-06-30 10,344.00 14,062.00 2,095.00
2015-03-31 10,344.00 14,062.00 2,095.00
2014-12-31 10,228.00 13,879.00 3,506.00
2014-09-30 10,228.00 13,879.00 3,506.00
2014-06-30 8,941.00 14,748.00 2,298.00
2014-03-31 8,941.00 14,748.00 2,298.00
2013-12-31 8,679.00 14,143.00 4,979.00
2013-09-30 8,679.00 14,143.00 4,979.00
2013-06-30 8,605.00 10,136.00 4,243.00
2013-03-31 8,605.00 10,136.00 4,243.00
2012-12-31 8,047.00 14,343.00 6,879.00
2012-09-30 8,047.00 14,343.00 6,879.00
2012-06-30 7,248.00 12,333.00 2,704.00
2012-03-31 7,248.00 12,333.00 2,704.00
  • Carrefour's level of debt (133.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (118.3% vs 133.2% today).
  • Debt is well covered by operating cash flow (21.4%, greater than 20% of total debt).
  • Carrefour is making a loss, therefore interest payments are not well covered by earnings.
X
Financial health checks
We assess Carrefour's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Carrefour has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.59%
Current annual income from Carrefour dividends. Estimated to be 3.19% next year.
If you bought €2,000 of Carrefour shares you are expected to receive €52 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Carrefour's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.64%).
  • Carrefour's dividend is below the markets top 25% of dividend payers in France (4.33%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTPA:CA Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
France Consumer Retailing Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 3.9%
France Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.1%
France Minimum Threshold Dividend Yield 10th Percentile 1%
France Bottom 25% Dividend Yield 25th Percentile 1.6%
France Top 25% Dividend Yield 75th Percentile 4.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTPA:CA Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.64 2.00
2021-12-31 0.61 2.00
2020-12-31 0.60 15.00
2019-12-31 0.52 18.00
2018-12-31 0.46 18.00
ENXTPA:CA Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-02-28 0.460 2.885
2017-03-09 0.700 3.609
2016-05-17 0.700 3.059
2015-06-11 0.680 2.529
2014-04-15 0.620 2.296
2013-03-07 0.580 2.347
2012-03-08 0.520 3.093
2011-03-03 1.080 5.164
2010-02-19 1.080 3.042
2009-03-12 1.080 3.435
2009-02-23 1.080 4.288

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • 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
What portion of Carrefour's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess Carrefour's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Carrefour afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Carrefour has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Alexandre Bompard
COMPENSATION €2,892,152
AGE 46
TENURE AS CEO 1.6 years
CEO Bio

Mr. Alexandre Bompard has been the Chairman and Chief Executive Officer at Carrefour SA July 18, 2017. Mr. Bompard has been Chief Executive Officer of the Fnac Darty group since July 20, 2016. Mr. Bompard has been Chairman of FNAC at Kering SA since November 23, 2010. He served as the Chairman and Chief Executive Officer of Fnac Darty SA since joined in January 2011 until July 17, 2017 and served as its President. He was assigned to the Inspection générale des finances (Inspectorate General of Finance) from 1999 to 2002, subsequently becoming technical advisor to then-Minister of Social Affairs, Labour and Solidarity François Fillon from April 2003 to December 2003. From 2004 to 2008, he served several responsibilities with the Canal+ group: he served as Chief of staff of Chairman Bertrand Méheut from 2004 to 2005, then Director of Sports and Public Affairs for it from June 2005 to June 2008. Since June 2008, he served as Chairman and Chief Executive Officer of Europe 1 SAS and Europe 1 Sport. Mr. Bompard serves as Vice Chairman of Supervisory Board at Newsweb SA. He has been a Director of Darty plc since July 19, 2016. He was a Director of Les Éditions Indépendantes. He was Chairman and Chief Executive Officer of Fnac Darty Participations et Services until July 17, 2017. He then undertook an ambitious transformation plan of the Group, called “Fnac 2015”, to meet the challenge of the digital revolution and changes in customer expectations. On June 20, 2013, Alexandre Bompard also led Fnac’s initial public offering. He was a Director of Darty Ltd until July 17, 2017. He has been an Independent Director of Orange SA since December 7 2016. He has been a Member of the Supervisory Board of Banijay Group since April 7, 2016. He is the Chairman & Director of the Carrefour Fondation since September 8, 2017. He is a Member of Le Siècle (Association operating under Law 1901). In Autumn 2015, Fnac launched a takeover bid on the Darty Group. He was a Director of Fnac Darty SA since January 2011 until November 28, 2017. Mr. Bompard is also an alumnus of the École nationale d'administration (ENA, Cyrano de Bergerac class). He is a graduate of the Institut d'études politiques de Paris (Sciences Po) with a master's degree in public law and a post-graduate diploma in economics. He also holds a Master of Advanced Studies (DEA) in Economics.

CEO Compensation
  • Insufficient data for Alexandre to compare compensation growth.
  • Alexandre's remuneration is about average for companies of similar size in France.
Management Team Tenure

Average tenure and age of the Carrefour management team in years:

1.3
Average Tenure
51.5
Average Age
  • The average tenure for the Carrefour management team is less than 2 years, this suggests a new team.
Management Team

Alexandre Bompard

TITLE
Chairman & CEO
COMPENSATION
€3M
AGE
46
TENURE
1.6 yrs

Pierre-Jean Sivignon

TITLE
Advisor to The CEO
COMPENSATION
€776K
AGE
61
TENURE
1.3 yrs

Matthieu Malige

TITLE
Chief Financial Officer
TENURE
1.3 yrs

Mathilde Rodie

TITLE
Head of Financial Communication & Investor Relations
AGE
44
TENURE
2.4 yrs

Dominique Benneteau-Wood

TITLE
Executive Director of Communication for the Group & France
TENURE
0.4 yrs

Jerôme Nanty

TITLE
Executive Director of Human Resources for the Group & France
AGE
57

Gérard Lavinay

TITLE
Executive Director for Italy
AGE
57
TENURE
0.3 yrs

Javier de la Pena

TITLE
Head of Operational Department -Dia Europe

Juan Cubillo

TITLE
Head of Food Marketing

François De Polignac

TITLE
Executive Director for Merchandise
AGE
45
TENURE
0.3 yrs
Board of Directors Tenure

Average tenure and age of the Carrefour board of directors in years:

2.2
Average Tenure
67
Average Age
  • The average tenure for the Carrefour board of directors is less than 3 years, this suggests a new board.
Board of Directors

Robert Halley

TITLE
Honorary Chairman
COMPENSATION
€83K
AGE
83
TENURE
10.8 yrs

Alexandre Bompard

TITLE
Chairman & CEO
COMPENSATION
€3M
AGE
46
TENURE
1.6 yrs

Laurent Vallée

TITLE
Chairman of Food Advisory Committee & General Secretary
AGE
47
TENURE
0.4 yrs

Thierry Breton

TITLE
Independent Director
COMPENSATION
€64K
AGE
63
TENURE
10.6 yrs

Charles Edelstenne

TITLE
Independent Director
COMPENSATION
€53K
AGE
80
TENURE
10.6 yrs

Aurore Domont

TITLE
Independent Director
TENURE
0.7 yrs

Stéphane Israël

TITLE
Independent Director
TENURE
0.7 yrs

Abilio dos Santos Diniz

TITLE
Director
COMPENSATION
€43K
AGE
82
TENURE
2.8 yrs

Philippe J. Houzé

TITLE
Lead Director
COMPENSATION
€70K
AGE
71
TENURE
1.7 yrs

Nicolas Bazire

TITLE
Non-Independent Director
COMPENSATION
€63K
AGE
61
TENURE
10.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Carrefour's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Carrefour has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Does Carrefour SA's (EPA:CA) Debt Level Pose A Problem?

the key to extending previous success is in the health of the company’s financials. … Today we will look at Carrefour’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Note that this commentary is very high-level and solely focused on financial health, so I suggest you dig deeper yourself

Simply Wall St -

Can We See Significant Institutional Ownership On The Carrefour SA (EPA:CA) Share Register?

Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Companies that have been privatized tend to have low insider ownership. … Carrefour is a pretty big company.

Simply Wall St -

Carrefour SA (EPA:CA)'s Return on Capital

You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … Therefore, looking at how efficiently Carrefour is able to use capital to create earnings will help us understand your potential return. … Investors use many different metrics but the analysis below focuses on return on capital employed (ROCE).

Simply Wall St -

Understanding Your Return On Investment In Carrefour SA (EPA:CA)

and want to begin learning the link between Carrefour SA (EPA:CA)’s return fundamentals and stock market performance. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand Carrefour’s capital returns we will look at a useful metric called return on capital employed.

Simply Wall St -

Should Carrefour SA (EPA:CA) Be Part Of Your Portfolio?

Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … Carrefour SA (EPA:CA) has returned to shareholders over the past 10 years, an average dividend yield of 3.00% annually. … View our latest analysis for Carrefour

Simply Wall St -

What does Carrefour SA's (EPA:CA) Balance Sheet Tell Us About Its Future?

its financial health remains the key to continued success. … Today we will look at Carrefour’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis

Simply Wall St -

Have Investors Priced In Carrefour SA's (EPA:CA) Growth?

saw significant share price volatility over the past couple of months on the ENXTPA, rising to the highs of €17.23 and falling to the lows of €14.97. … This high level of volatility gives investors the opportunity to enter into the stock, and potentially buy at an artificially low price? … A question to answer is whether Carrefour's current trading price of €15.4 reflective of the actual value of the?

Simply Wall St -

Is Buying Carrefour SA (ENXTPA:CA) For Its Upcoming €00.46 Dividend A Good Choice?

On the 13 July 2018, Carrefour SA (ENXTPA:CA) will be paying shareholders an upcoming dividend amount of €0.46 per share. … Well, keep on reading because today, I'm going to look at the latest data and analyze the stock and its dividend property in further detail. … When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas:?

Simply Wall St -

Is Carrefour SA (EPA:CA) A Cash Cow?

The two ways to assess whether Carrefour’s FCF is sufficient, is to compare the FCF yield to the market index yield, as well as determine whether the top-line operating cash flows will continue to grow. … Free Cash Flow = Operating Cash Flows – Net Capital Expenditure Free Cash Flow Yield = Free Cash Flow / Enterprise Value where Enterprise Value = Market Capitalisation + Net Debt Carrefour’s yield of 1.03% indicates its sub-standard capacity to generate cash, compared to the stock market index as a whole, accounting for the size differential. … Current +1 year +2 year +3 year Operating Cash Flow (OCF) €2.84B €2.67B €2.88B €3.14B OCF Growth Year-On-Year -6.20% 8.12% 8.78% OCF Growth From Current Year 1.42% 10.32% Next Steps: Although its positive operating cash flow, and high future growth, is appealing, the low free cash flow yield is unattractive.

Simply Wall St -

Carrefour SA (EPA:CA): Risks You Need To Consider Before Buying

View our latest analysis for Carrefour An interpretation of CA's beta Carrefour’s five-year beta of 1.03 means that the company’s value will swing up by more than the market during prosperous times, but also drop down by more in times of downturns. … How CA's assets could affect its beta An asset-heavy company tends to have a higher beta because the risk associated with running fixed assets during a downturn is highly expensive. … I examine CA’s ratio of fixed assets to total assets to see whether the company is highly exposed to the risk of this type of constraint.

Simply Wall St -

Company Info

Map
Description

Carrefour SA operates stores in various formats and channels in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, China, and Taiwan. The company operates hypermarkets, supermarkets, convenience stores, cash and carry stores, and hypercash stores; e-commerce sites and m-commerce channels; and service stations. Its stores offer fresh produce; local products; consumer goods; and non-food products, including small household goods, textiles, and home appliances. In addition, the company is involved in banking, insurance, property development, and franchise activities; the provision of travel agency services; and the rental of shopping malls. As of December 31, 2017, it operated 12,300 stores under group banners, including 1,528 hypermarkets; 3,273 supermarkets; 7,327 convenience stores; and 172 cash and carry stores. Carrefour SA was founded in 1959 and is headquartered in Boulogne Billancourt, France.

Details
Name: Carrefour SA
CA
Exchange: ENXTPA
Founded: 1959
€13,808,991,408
777,533,300
Website: http://www.carrefour.com
Address: Carrefour SA
33, avenue Emile Zola,
Boulogne Billancourt,
Ile-de-France, 92100,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA CA Common Shares Euronext Paris FR EUR 02. Jan 1992
OTCPK CRER.F Common Shares Pink Sheets LLC US USD 02. Jan 1992
DB CAR Common Shares Deutsche Boerse AG DE EUR 02. Jan 1992
XTRA CAR Common Shares XETRA Trading Platform DE EUR 02. Jan 1992
LSE 0NPH Common Shares London Stock Exchange GB EUR 02. Jan 1992
SWX CA Common Shares SIX Swiss Exchange CH CHF 02. Jan 1992
BIT CRR Common Shares Borsa Italiana IT EUR 02. Jan 1992
WBAG CARR Common Shares Wiener Boerse AG AT EUR 02. Jan 1992
BMV CA N Common Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1992
BATS-CHIXE CAP Common Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
OTCPK CRRF.Y SPON ADR EACH REPR 1/5 SHS Pink Sheets LLC US USD 28. Apr 2003
DB CAR1 SPON ADR EACH REPR 1/5 SHS Deutsche Boerse AG DE EUR 28. Apr 2003
Number of employees
Current staff
Staff numbers
378,923
Carrefour employees.
Industry
Hypermarkets and Super Centers
Consumer Retailing
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/21 20:46
End of day share price update: 2019/02/21 00:00
Last estimates confirmation: 2019/02/20
Last earnings filing: 2018/07/26
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.