ENXTPA:MLCMB

Stock Analysis Report

Executive Summary

Compagnie Du Mont-Blanc operates as a ski lift company in France.

Rewards

PE ratio (6.6x) is below the French market (18.1x)

Earnings grew by 104.2% over the past year

Pays a reliable dividend of 2.94%

Risk Analysis

Debt is not well covered by operating cash flow

Large one-off items impacting financial results



Snowflake Analysis

Proven track record average dividend payer.

Share Price & News

How has Compagnie Du Mont-Blanc's share price performed over time and what events caused price changes?


Latest Share Price and Events

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


Market Performance


7 Day Return

1.5%

MLCMB

-2.1%

FR Hospitality

-0.2%

FR Market


1 Year Return

-7.4%

MLCMB

4.9%

FR Hospitality

22.9%

FR Market

Return vs Industry: MLCMB underperformed the French Hospitality industry which returned 9.7% over the past year.

Return vs Market: MLCMB underperformed the French Market which returned 24.9% over the past year.


Shareholder returns

MLCMBIndustryMarket
7 Day1.5%-2.1%-0.2%
30 Day0.7%-4.9%0.6%
90 Day-0.7%3.1%6.8%
1 Year-4.7%-7.4%7.9%4.9%27.2%22.9%
3 Year6.2%-2.1%4.1%-4.5%42.4%28.8%
5 Year123.3%94.3%14.7%-2.2%62.7%39.4%

Price Volatility Vs. Market

How volatile is Compagnie Du Mont-Blanc's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Compagnie Du Mont-Blanc undervalued compared to its fair value and its price relative to the market?

6.66x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: MLCMB (€136) is trading above our estimate of fair value (€44.61)

Significantly Below Fair Value: MLCMB is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: MLCMB is good value based on its PE Ratio (6.6x) compared to the Hospitality industry average (24.9x).

PE vs Market: MLCMB is good value based on its PE Ratio (6.6x) compared to the French market (18.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: MLCMB is good value based on its PB Ratio (1.1x) compared to the FR Hospitality industry average (1.3x).


Next Steps

Future Growth

How is Compagnie Du Mont-Blanc forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

11.1%

Forecasted Consumer Services industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Compagnie Du Mont-Blanc has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Compagnie Du Mont-Blanc performed over the past 5 years?

21.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MLCMB has a large one-off gain of €9.3M impacting its May 31 2019 financial results.

Growing Profit Margin: MLCMB's current net profit margins (18.9%) are higher than last year (9.1%).


Past Earnings Growth Analysis

Earnings Trend: MLCMB's earnings have grown significantly by 21.7% per year over the past 5 years.

Accelerating Growth: MLCMB's earnings growth over the past year (104.2%) exceeds its 5-year average (21.7% per year).

Earnings vs Industry: MLCMB earnings growth over the past year (104.2%) exceeded the Hospitality industry -0.2%.


Return on Equity

High ROE: MLCMB's Return on Equity (15.6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Compagnie Du Mont-Blanc's financial position?


Financial Position Analysis

Short Term Liabilities: MLCMB's short term assets (€91.8M) exceed its short term liabilities (€57.8M).

Long Term Liabilities: MLCMB's short term assets (€91.8M) do not cover its long term liabilities (€137.7M).


Debt to Equity History and Analysis

Debt Level: MLCMB's debt to equity ratio (117.3%) is considered high.

Reducing Debt: MLCMB's debt to equity ratio has increased from 106.4% to 117.3% over the past 5 years.

Debt Coverage: MLCMB's debt is not well covered by operating cash flow (14.7%).

Interest Coverage: MLCMB's interest payments on its debt are well covered by EBIT (14.4x coverage).


Balance Sheet

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

Debt Coverage by Assets: MLCMB's debt is not covered by short term assets (assets are 0.6x debt).


Next Steps

Dividend

What is Compagnie Du Mont-Blanc's current dividend yield, its reliability and sustainability?

2.92%

Current Dividend Yield


Dividend Yield vs Market

company2.9%marketbottom25%1.5%markettop25%4.4%industryaverage2.9%forecastin3Yearsn/a

Current dividend yield vs market & industry

Notable Dividend: MLCMB's dividend (2.94%) is higher than the bottom 25% of dividend payers in the French market (1.46%).

High Dividend: MLCMB's dividend (2.94%) is low compared to the top 25% of dividend payers in the French market (4.43%).


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (19.4%), MLCMB's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of Compagnie Du Mont-Blanc's salary, the management and board of directors tenure and is there insider trading?


CEO

Mathieu Dechavanne (48yo)

6.2yrs

Tenure

0

Mr. Mathieu Dechavanne has been the Chairman & Chief Executive Officer at Compagnie Du Mont-Blanc since November 2013 and served as its President & Managing Director. Mr. Dechavanne holds Master of Busines ...


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

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Mathieu Dechavanne (48yo)

    Chairman & CEO

    • Tenure: 6.2yrs
  • Jean Pallud

    Chief Financial Officer

    • Charlotte Demarchi

      Head of Legal Office & Corporate Law


      Board Members

      • Jean-Pierre Sonois (74yo)

        Director

        • Dominique Marcel (64yo)

          Director

          • Bernard Farini (72yo)

            Director

            • Mathieu Dechavanne (48yo)

              Chairman & CEO

              • Tenure: 6.2yrs
            • David Ponson (48yo)

              Director

              • Michel Payot (64yo)

                Director

                • Paul Balmat (65yo)

                  Director

                  • Angès Pannier-Runacher (45yo)

                    Director

                    • Thomas Riboud-Seydoux (44yo)

                      Director

                      • Justine Ryst (44yo)

                        Director

                        Company Information

                        Compagnie Du Mont-Blanc's company bio, employee growth, exchange listings and data sources


                        Key Information

                        • Name: Compagnie Du Mont-Blanc
                        • Ticker: MLCMB
                        • Exchange: ENXTPA
                        • Founded: 2000
                        • Industry: Leisure Facilities
                        • Sector: Consumer Services
                        • Market Cap: €123.496m
                        • Shares outstanding: 901.43k
                        • Website: https://www.compagniedumontblanc.fr

                        Number of Employees


                        Location

                        • Compagnie Du Mont-Blanc
                        • 35 Place de la Mer de Glace
                        • Chamonix-Mont-Blanc
                        • Rhône-Alpes
                        • 74400
                        • France

                        Listings

                        TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
                        MLCMBENXTPA (Euronext Paris)YesShare CapitalFREURJan 1992

                        Biography

                        Compagnie Du Mont-Blanc operates as a ski lift company in France. The company is involved in serving and providing transportation in the mountains by ski lifts, chairlifts, gondolas, cable cars, and cog railways. It manages four high altitude ski areas in the Chamonix valley, including Les Grands Montets, Balme, Brévent-Flégère, and Les Houches; and three excursion sites comprising Aiguille du Midi, Montenvers - Mer de Glace, and the Mont Blanc Tramway. The company was founded in 2000 and is based in Chamonix-Mont-Blanc, France. 


                        Company Analysis and Financial Data Status

                        All financial data provided by Standard & Poor's Capital IQ.
                        DataLast Updated (UTC time)
                        Company Analysis2020/01/23 20:36
                        End of Day Share Price2020/01/23 00:00
                        Earnings2019/05/31
                        Annual Earnings2019/05/31


                        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.