ENXTPA:AC

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Accor SA operates a chain of hotels. It operates through three segments: HotelServices, Hotel Assets & Others, and New Businesses. More Details


Snowflake Analysis

Reasonable growth potential with mediocre balance sheet.


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

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


Market Performance


7 Day Return

-10.0%

AC

-5.9%

FR Hospitality

-5.5%

FR Market


1 Year Return

-44.7%

AC

-42.8%

FR Hospitality

-13.9%

FR Market

Return vs Industry: AC underperformed the French Hospitality industry which returned -42.8% over the past year.

Return vs Market: AC underperformed the French Market which returned -13.9% over the past year.


Shareholder returns

ACIndustryMarket
7 Day-10.0%-5.9%-5.5%
30 Day-8.9%-6.0%-4.0%
90 Day2.9%-1.7%-2.0%
1 Year-44.7%-44.7%-41.7%-42.8%-12.0%-13.9%
3 Year-46.1%-48.8%-46.4%-50.1%-2.1%-10.6%
5 Year-45.5%-50.8%-30.7%-38.2%22.1%4.0%

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?

15.0%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: AC (€21.86) is trading below our estimate of fair value (€25.71)

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


Price To Earnings Ratio

PE vs Industry: AC is unprofitable, so we can't compare its PE Ratio to the FR Hospitality industry average.

PE vs Market: AC is unprofitable, so we can't compare its PE Ratio to the French market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AC's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AC is overvalued based on its PB Ratio (1.2x) compared to the FR Hospitality industry average (1x).


Next Steps

Future Growth

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

95.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AC is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.6%).

Earnings vs Market: AC is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: AC's is expected to become profitable in the next 3 years.

Revenue vs Market: AC's revenue (18.7% per year) is forecast to grow faster than the French market (6.8% per year).

High Growth Revenue: AC's revenue (18.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AC's Return on Equity is forecast to be low in 3 years time (4.3%).


Next Steps

Past Performance

How has Accor performed over the past 5 years?

-42.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AC is currently unprofitable.

Growing Profit Margin: AC is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: AC is unprofitable, and losses have increased over the past 5 years at a rate of 42.8% per year.

Accelerating Growth: Unable to compare AC's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: AC is unprofitable, making it difficult to compare its past year earnings growth to the Hospitality industry (-7.6%).


Return on Equity

High ROE: AC has a negative Return on Equity (-30.13%), as it is currently unprofitable.


Next Steps

Financial Health

How is Accor's financial position?


Financial Position Analysis

Short Term Liabilities: AC's short term assets (€3.7B) exceed its short term liabilities (€2.9B).

Long Term Liabilities: AC's short term assets (€3.7B) exceed its long term liabilities (€3.1B).


Debt to Equity History and Analysis

Debt Level: AC's debt to equity ratio (63.7%) is considered high.

Reducing Debt: AC's debt to equity ratio has reduced from 74.3% to 63.7% over the past 5 years.

Debt Coverage: AC's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: Insufficient data to determine if AC's interest payments on its debt are well covered by EBIT.


Balance Sheet


Next Steps

Dividend

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

1.73%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate AC's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate AC's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AC's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AC's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: AC is not paying a notable dividend for the French market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AC's dividend in 3 years as they are not forecast to pay a notable one for the French market.


Next Steps

Management

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

5.8yrs

Average management tenure


CEO

Sébastien Bazin (59 yo)

7.17yrs

Tenure

€4,411,720

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 ($USD5.14M) is above average for companies of similar size in the French market ($USD3.54M).

Compensation vs Earnings: Sébastien's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Sébastien Bazin
Chairman & CEO7.17yrs€4.41m0.071%
€ 4.0m
Jean-Jacques Morin
Deputy CEO & CFO1.75yrsno datano data
Gilles de Richemond
Chief Technology Officerno datano datano data
Sébastien Valentin
Senior Vice Presidentno datano datano data
Carina Martin
Vice President of Media Relations Worldwideno datano datano data
Steven Daines
Chief Talent & Culture Officer0.92yrno datano data
Dominique Esnault
Global Chief Partners & Hotel Services Officerno datano datano data
Isabelle Birem
Senior Vice President of Customer Relations & Loyaltyno datano datano data
Cedric Gobilliard
Senior Vice President of Global Sales and Head of Lifestyle Division8.75yrsno datano data
Sami Nasser
Chief Operating Officer of Middle2yrsno datano data
Christian Flaesch
Senior Vice President of Safety & Security6.08yrsno datano data
Arnaud Patat
Senior Vice President of Technical Division for HotelInvest5.75yrsno datano data

5.8yrs

Average Tenure

59yo

Average Age

Experienced Management: AC's management team is seasoned and experienced (5.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Sébastien Bazin
Chairman & CEO7.17yrs€4.41m0.071%
€ 4.0m
Henri M. E. V. d'Estaing
Chairmanno datano datano data
Iris Knobloch
Vice Chairman & Senior Independent Director4.25yrs€211.93k0.00039%
€ 21.9k
Sarmad El Zok
Non-Independent Director4.25yrs€146.55k0.011%
€ 625.2k
Isabelle Simon
Independent Director4.25yrs€133.32k0.00039%
€ 21.9k
Sheikh Nawaf Jassim Bin Jabor Al-Thani
Director3.58yrs€73.14k0.00039%
€ 21.9k
Sophie Gasperment
Independent Director10.33yrs€143.46k0.00061%
€ 34.2k
Iliane Dumas
Employee Representative Director6.42yrs€96.97kno data
Aziz Fakhroo
Non-Independent Director4.25yrs€169.68k0.00039%
€ 21.9k
Jiang Qionger
Independent Director4.25yrs€113.83k0.00078%
€ 43.7k
Nicolas Sarkozy
Independent Director3.58yrs€85.60k0.00040%
€ 22.4k
Chantale Hoogstoel
Employee Representative Director2.75yrs€93.65kno data

4.3yrs

Average Tenure

54yo

Average Age

Experienced Board: AC's board of directors are considered experienced (4.3 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

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: €5.607b
  • Shares outstanding: 257.44m
  • Website: https://group.accor.com/en

Number of Employees


Location

  • Accor SA
  • 82, rue Henri Farman
  • CS 20077
  • Issy-les-Moulineaux
  • Ile-de-France
  • 92445
  • 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
ACC-UETLX (Eurotlx)YesOrdinary SharesITEURJan 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)SPON ADR EACH REPR 5 ORDUSUSDOct 2008
ACR1DB (Deutsche Boerse AG)SPON ADR EACH REPR 5 ORDDEEUROct 2008

Biography

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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/30 21:40
End of Day Share Price2020/10/30 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.