ENXTPA:CA

Stock Analysis Report

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Executive Summary

Carrefour SA operates stores in various formats and channels in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, and Taiwan. More Details


Snowflake Analysis

Adequate balance sheet with acceptable track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events

Stable Share Price: CA is less volatile than 75% of French stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: CA's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

-0.5%

CA

0.1%

FR Consumer Retailing

1.5%

FR Market


1 Year Return

-8.2%

CA

-16.8%

FR Consumer Retailing

-1.8%

FR Market

Return vs Industry: CA exceeded the French Consumer Retailing industry which returned -16.8% over the past year.

Return vs Market: CA underperformed the French Market which returned -1.8% over the past year.


Shareholder returns

CAIndustryMarket
7 Day-0.5%0.1%1.5%
30 Day2.9%7.3%19.4%
90 Day2.2%4.2%13.3%
1 Year-6.8%-8.2%-15.9%-16.8%0.2%-1.8%
3 Year-17.1%-22.9%-26.7%-33.8%18.9%9.0%
5 Year-43.3%-50.4%-42.7%-51.5%50.4%30.0%

Long-Term Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Carrefour 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: CA (€13.75) is trading below our estimate of fair value (€35.62)

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


Price To Earnings Ratio

PE vs Industry: CA is poor value based on its PE Ratio (26.2x) compared to the XE Consumer Retailing industry average (20.5x).

PE vs Market: CA is poor value based on its PE Ratio (26.2x) compared to the French market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: CA is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: CA is overvalued based on its PB Ratio (1.2x) compared to the FR Consumer Retailing industry average (-0.2x).


Next Steps

Future Growth

How is Carrefour forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

24.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CA's forecast earnings growth (24.7% per year) is above the savings rate (0.6%).

Earnings vs Market: CA's earnings (24.7% per year) are forecast to grow slower than the French market (25.4% per year).

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

Revenue vs Market: CA's revenue (1.9% per year) is forecast to grow slower than the French market (7.3% per year).

High Growth Revenue: CA's revenue (1.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: CA's Return on Equity is forecast to be low in 3 years time (9.7%).


Next Steps

Past Performance

How has Carrefour performed over the past 5 years?

-46.1%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CA has a large one-off loss of €651.0M impacting its June 30 2020 financial results.

Growing Profit Margin: CA's current net profit margins (0.6%) are higher than last year (0%).


Past Earnings Growth Analysis

Earnings Trend: CA's earnings have declined by 46.1% per year over the past 5 years.

Accelerating Growth: CA's earnings growth over the past year (35597.6%) exceeds its 5-year average (-46.1% per year).

Earnings vs Industry: CA earnings growth over the past year (35597.6%) exceeded the Consumer Retailing industry 7.9%.


Return on Equity

High ROE: CA's Return on Equity (5.9%) is considered low.


Next Steps

Financial Health

How is Carrefour's financial position?


Financial Position Analysis

Short Term Liabilities: CA's short term assets (€16.1B) do not cover its short term liabilities (€20.5B).

Long Term Liabilities: CA's short term assets (€16.1B) exceed its long term liabilities (€14.8B).


Debt to Equity History and Analysis

Debt Level: CA's debt to equity ratio (119.5%) is considered high.

Reducing Debt: CA's debt to equity ratio has reduced from 135.6% to 119.5% over the past 5 years.

Debt Coverage: CA's debt is well covered by operating cash flow (25.5%).

Interest Coverage: CA's interest payments on its debt are well covered by EBIT (8.5x coverage).


Balance Sheet


Next Steps

Dividend

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

1.67%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CA's dividend (1.67%) is higher than the bottom 25% of dividend payers in the French market (1.37%).

High Dividend: CA's dividend (1.67%) is low compared to the top 25% of dividend payers in the French market (4.68%).


Stability and Growth of Payments

Stable Dividend: CA's dividend payments have been volatile in the past 10 years.

Growing Dividend: CA's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (43.8%), CA's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CA's dividends in 3 years are forecast to be well covered by earnings (40% payout ratio).


Next Steps

Management

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

3.1yrs

Average management tenure


CEO

Alexandre Bompard (48 yo)

3.33yrs

Tenure

€7,305,055

Compensation

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 ...


CEO Compensation Analysis

Compensation vs Market: Alexandre's total compensation ($USD8.73M) is above average for companies of similar size in the French market ($USD4.04M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Alexandre Bompard
Chairman & CEO3.33yrs€7.31m0.016%
€ 1.8m
Matthieu Malige
Chief Financial Officer3.08yrsno datano data
Dominique Benneteau-Wood
Executive Director of Communication2.25yrsno datano data
Jérôme Nanty
Executive Director of Human Resources & Assets3.08yrsno datano data
Juan Cubillo
Head of Food Marketingno datano datano data
Christophe Rabatel
Chief Executive Officer of Poland division2.25yrsno datano data
Laurent Vallee
General Secretary3.25yrsno datano data
Pierre-Jean Jerome Sivignon
Advisor to The CEO3.08yrs€775.56kno data

3.1yrs

Average Tenure

54yo

Average Age

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


Board Members

NamePositionTenureCompensationOwnership
Alexandre Bompard
Chairman & CEO3.33yrs€7.31m0.016%
€ 1.8m
Charles Edelstenne
Independent Director12.33yrs€75.00k0.00012%
€ 13.3k
Nicolas Bazire
Non-Independent Director12.33yrs€75.00k0.00012%
€ 13.3k
Philippe J. Houze
Vice-Chairman of the Board0.58yr€115.00k0.00039%
€ 43.3k
Abilio dos Santos Diniz
Director4.5yrs€55.00kno data
Robert Halley
Honorary Chairman12.5yrs€82.50kno data
Flavia de Almeida
Director3.58yrs€55.00k0.00013%
€ 14.4k
Marie-Laure de Chalon
Independent Director3.42yrs€55.00k0.00025%
€ 27.8k
Patricia Lemoine
Director5.42yrs€51.43k0.00014%
€ 15.6k
Mathilde Lemoine
Independent Director9.5yrs€55.00k0.00037%
€ 41.1k
Thierry Faraut
Employee Representative Director3yrs€55.00kno data
Stephane Israel
Lead Independent Director0.58yr€85.00k0.00019%
€ 21.1k

4.0yrs

Average Tenure

60.5yo

Average Age

Experienced Board: CA's board of directors are considered experienced (4 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

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


Key Information

  • Name: Carrefour SA
  • Ticker: CA
  • Exchange: ENXTPA
  • Founded: 1959
  • Industry: Hypermarkets and Super Centers
  • Sector: Consumer Retailing
  • Market Cap: €11.112b
  • Shares outstanding: 808.17m
  • Website: https://www.carrefour.com

Number of Employees


Location

  • Carrefour SA
  • 26, Quai Michelet
  • Levallois-Perret
  • Ile-de-France
  • 92695
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CRER.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJan 1992
CA NBMV (Bolsa Mexicana de Valores)YesCommon SharesMXMXNJan 1992
CAENXTPA (Euronext Paris)YesCommon SharesFREURJan 1992
CARDB (Deutsche Boerse AG)YesCommon SharesDEEURJan 1992
0NPHLSE (London Stock Exchange)YesCommon SharesGBEURJan 1992
CRRBIT (Borsa Italiana)YesCommon SharesITEURJan 1992
CARXTRA (XETRA Trading Platform)YesCommon SharesDEEURJan 1992
CAPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJan 1992
CARRWBAG (Wiener Boerse AG)YesCommon SharesATEURJan 1992
CASWX (SIX Swiss Exchange)YesCommon SharesCHCHFJan 1992
CRRF.YOTCPK (Pink Sheets LLC)SPON ADR EACH REPR 1/5 SHSUSUSDApr 2003
CAR1DB (Deutsche Boerse AG)SPON ADR EACH REPR 1/5 SHSDEEURApr 2003

Biography

Carrefour SA operates stores in various formats and channels in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, and Taiwan. The company operates hypermarkets, convenience stores, superma...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/29 20:03
End of Day Share Price2020/11/27 00:00
Earnings2020/06/30
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.