ENXTPA:AC

Stock Analysis Report

Executive Summary

Accor SA operates a chain of hotels worldwide.

Snowflake

Fundamentals

Acceptable track record with moderate growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-0.5%

AC

-1.9%

FR Hospitality

-0.4%

FR Market


1 Year Return

-7.2%

AC

1.9%

FR Hospitality

9.5%

FR Market

Return vs Industry: AC underperformed the French Hospitality industry which returned 1.9% over the past year.

Return vs Market: AC underperformed the French Market which returned 9.5% over the past year.


Shareholder returns

ACIndustryMarket
7 Day-0.5%-1.9%-0.4%
30 Day-4.4%-4.1%-0.6%
90 Day-3.8%-3.6%0.04%
1 Year-4.4%-7.2%4.8%1.9%13.3%9.5%
3 Year18.6%9.8%3.3%-5.4%42.5%28.7%
5 Year35.1%19.7%37.7%15.3%71.0%45.0%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

37.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: AC (€37.96) is trading below our estimate of fair value (€61.14)

Significantly Undervalued: AC is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: AC is poor value based on its PE Ratio (54.6x) compared to the Hospitality industry average (23.1x).

PE vs Market: AC is poor value based on its PE Ratio (54.6x) compared to the French market (17.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: AC is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: AC is overvalued based on its PB Ratio (1.7x) compared to the FR Hospitality industry average (1.6x).


Next Steps

Future Growth

How is Accor forecast to perform in the next 1 to 3 years based on estimates from 19 analysts?

16.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AC's forecast earnings growth (16.8% per year) is above the savings rate (0.7%).

Earnings vs Market: AC's earnings (16.8% per year) are forecast to grow faster than the French market (11.5% per year).

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

Revenue vs Market: AC's revenue (6.5% per year) is forecast to grow faster than the French market (4.5% per year).

High Growth Revenue: AC's revenue (6.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: AC's Return on Equity is forecast to be low in 3 years time (11%).


Next Steps

Past Performance

How has Accor performed over the past 5 years?

-9.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: AC's earnings have declined by -9.8% per year over the past 5 years.

Accelerating Growth: AC's earnings growth over the past year (282.4%) exceeds its 5-year average (-9.8% per year).

Earnings vs Industry: AC earnings growth over the past year (282.4%) exceeded the Hospitality industry -13.9%.


Return on Equity

High ROE: AC's Return on Equity (4.4%) is considered low.


Return on Assets

ROA vs Industry: AC's Return on Assets is below or equal to the Hospitality industry average last year.


Return on Capital Employed

ROCE Improving: AC has significantly improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Accor's financial position?


Financial Position Analysis

Short Term Liabilities: AC's short term assets (€3.6B) exceeds its short term liabilities (€2.4B)

Long Term Liabilities: AC's short term assets (3.6B) do not cover its long term liabilities (4.3B)


Debt to Equity History and Analysis

Debt Level: AC's debt to equity ratio (49.2%) is considered high

Reducing Debt: AC's debt to equity ratio has reduced from 70.6% to 49.2% over the past 5 years.

Debt Coverage: AC's debt is not well covered by operating cash flow (16.3%).

Interest Coverage: AC's interest payments on its debt are well covered by EBIT (11x coverage).


Balance Sheet

Inventory Level: AC has a low level of unsold assets or inventory.

Debt Coverage by Assets: AC's debt is covered by short term assets (assets are 1.153670x debt).


Next Steps

Dividend

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

2.77%

Current Dividend Yield


Dividend Yield vs Market

company2.8%marketbottom25%1.6%markettop25%4.7%industryaverage2.9%forecastin3Years3.1%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: AC's dividend (2.77%) is higher than the bottom 25% of dividend payers in the French market (1.56%).

High Dividend: AC's dividend (2.77%) is low compared to the top 25% of dividend payers in the French market (4.72%).

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

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (150.9%), AC's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: AC's dividends in 3 years are forecast to be covered by earnings (59.7% payout ratio).


Next Steps

Management

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

3.6yrs

Average management tenure


CEO

Sébastien Bazin (58yo)

6.2yrs

Tenure

€4,122,802

Compensation

Mr. Sébastien M. Bazin serves as the Vice-Chairman of the Supervisory Board of Buffalo Grill S.A. Mr. Bazin has been Acting Chairman and Chief Executive Officer of Accor S.A. since 2013 and has been its Di ...


CEO Compensation Analysis

Compensation vs. Market: Sébastien's total compensation ($USD4.59M) is about average for companies of similar size in the French market ($USD3.60M).

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


Management Age and Tenure

3.6yrs

Average Tenure

57.5yo

Average Age

Experienced Management: AC's management team is considered experienced (3.6 years average tenure).


Board Age and Tenure

3.3yrs

Average Tenure

53yo

Average Age

Experienced Board: AC's board of directors are considered experienced (3.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown


Management Team

  • Sébastien Bazin (58yo)

    Chairman & CEO

    • Tenure: 6.2yrs
    • Compensation: €4.12m
  • Michael Issenberg (59yo)

    Chief Executive Officer of Asia-Pacific

    • Tenure: 11.7yrs
  • Dominique Esnault (57yo)

    Global Chief Partners & Hotel Services Officer

    • Tenure: 0yrs
  • Cedric Gobilliard

    Senior Vice President of Global Sales and Head of Lifestyle Division

    • Tenure: 7.8yrs
  • Sébastien Valentin (51yo)

    Senior Vice President

    • Tenure: 0yrs
  • Isabelle Birem

    Senior Vice President of Customer Relations & Loyalty

    • Tenure: 0yrs
  • Sami Nasser

    Chief Operating Officer of Middle

    • Tenure: 1yrs
  • Jean-Jacques Morin (59yo)

    Deputy CEO & CFO

    • Tenure: 0.8yrs
  • Steven Taylor (44yo)

    Chief Marketing Officer

    • Tenure: 0.4yrs
  • Carina Martin

    Vice President of Media Relations Worldwide

    • Tenure: 0yrs

Board Members

  • Iris Knobloch (56yo)

    Vice Chairman & Senior Independent Director

    • Tenure: 3.3yrs
    • Compensation: €114.58k
  • Sébastien Bazin (58yo)

    Chairman & CEO

    • Tenure: 6.2yrs
    • Compensation: €4.12m
  • Henri M. E. V. d’Estaing (63yo)

    Chairman

    • Tenure: 0yrs
  • Sarmad El Zok (51yo)

    Non-Independent Director

    • Tenure: 3.3yrs
    • Compensation: €113.74k
  • Isabelle Simon (49yo)

    Independent Director

    • Tenure: 3.3yrs
    • Compensation: €106.07k
  • Sophie Gasperment (55yo)

    Independent Director

    • Tenure: 9.3yrs
    • Compensation: €117.34k
  • Iliane Dumas (48yo)

    Employee Representing Director

    • Tenure: 5.4yrs
    • Compensation: €68.59k
  • Aziz Fakhroo (42yo)

    Non-Independent Director

    • Tenure: 3.3yrs
    • Compensation: €128.71k
  • Jiang Qionger (43yo)

    Independent Director

    • Tenure: 3.3yrs
    • Compensation: €76.76k
  • Nicolas Sarkozy (64yo)

    Independent Director

    • Tenure: 2.7yrs
    • Compensation: €79.56k

Company Information

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


Key Information

  • Name: Accor SA
  • Ticker: AC
  • Exchange: ENXTPA
  • Founded: 1967
  • Industry: Hotels, Resorts and Cruise Lines
  • Sector: Consumer Services
  • Market Cap: €10.085b
  • Shares outstanding: 265.68m
  • Website: https://group.accor.com/en

Number of Employees


Location

  • Accor SA
  • 82, rue Henri Farman
  • Issy-les-Moulineaux
  • Ile-de-France
  • 92130
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ACRF.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
ACENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1992
ACRDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
0H59LSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
ACPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
ACSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFJan 1992
ACWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJan 1992
ACC NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNJan 1992
ACCY.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDOct 2008
ACR1DB (Deutsche Boerse AG)SPONSORED ADRDEEUROct 2008

Biography

Accor SA operates a chain of hotels worldwide. It operates through three segments: HotelServices, Hotel Assets & Others, and New Businesses. The company owns, operates, manages, and franchises hotels. It a ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 20:34
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.