ENXTPA:PARP

Stock Analysis Report

Executive Summary

Groupe Partouche SA, through its subsidiaries, operates casinos, hotels, restaurants, dancehalls, and bars in France, other European countries, and internationally.


Snowflake Analysis

Excellent balance sheet and overvalued.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

0%

PARP

-0.5%

FR Hospitality

1.5%

FR Market


1 Year Return

45.8%

PARP

6.2%

FR Hospitality

24.1%

FR Market

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

Return vs Market: PARP exceeded the French Market which returned 24.9% over the past year.


Shareholder returns

PARPIndustryMarket
7 Day0%-0.5%1.5%
30 Day0.7%-2.7%3.1%
90 Day20.7%6.0%8.9%
1 Year45.8%45.8%9.1%6.2%28.5%24.1%
3 Year-27.0%-27.6%7.0%-1.9%45.2%31.4%
5 Yearn/a18.9%1.2%65.3%41.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

27.92x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate PARP's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate PARP's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: PARP is poor value based on its PE Ratio (27.6x) compared to the Hospitality industry average (24.9x).

PE vs Market: PARP is poor value based on its PE Ratio (27.6x) compared to the French market (18.1x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: PARP is good value based on its PB Ratio (0.7x) compared to the FR Hospitality industry average (1.3x).


Next Steps

Future Growth

How is Groupe Partouche forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

10.9%

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 Groupe Partouche 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 Groupe Partouche performed over the past 5 years?

43.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PARP has a large one-off loss of €8.1M impacting its April 30 2019 financial results.

Growing Profit Margin: PARP's current net profit margins (2.3%) are lower than last year (7.3%).


Past Earnings Growth Analysis

Earnings Trend: PARP's earnings have grown significantly by 43.6% per year over the past 5 years.

Accelerating Growth: PARP's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PARP had negative earnings growth (-68.1%) over the past year, making it difficult to compare to the Hospitality industry average (-0.2%).


Return on Equity

High ROE: PARP's Return on Equity (4.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Groupe Partouche's financial position?


Financial Position Analysis

Short Term Liabilities: PARP's short term assets (€169.0M) do not cover its short term liabilities (€171.6M).

Long Term Liabilities: PARP's short term assets (€169.0M) exceed its long term liabilities (€160.2M).


Debt to Equity History and Analysis

Debt Level: PARP's debt to equity ratio (37.9%) is considered satisfactory.

Reducing Debt: PARP's debt to equity ratio has reduced from 78.2% to 37.9% over the past 5 years.

Debt Coverage: PARP's debt is well covered by operating cash flow (41.2%).

Interest Coverage: PARP's interest payments on its debt are well covered by EBIT (7.2x coverage).


Balance Sheet

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

Debt Coverage by Assets: PARP's debt is covered by short term assets (assets are 1.2x debt).


Next Steps

Dividend

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


Dividend Yield vs Market

companyn/amarketbottom25%1.5%markettop25%4.4%industryaverage2.8%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

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


Next Steps

Management

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

17.8yrs

Average management tenure


CEO

Fabrice Paire (50yo)

12yrs

Tenure

€428,959

Compensation

Mr. Fabrice Paire serves as the Managing Director and Company Secretary at Groupe Partouche SA since 2008 and 2005 respectively. Mr. Paire serves as Chairman of the Executive Board at Groupe Partouche SA M ...


CEO Compensation Analysis

Compensation vs Market: Fabrice's total compensation ($USD477.20K) is about average for companies of similar size in the French market ($USD414.25K).

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


Management Age and Tenure

17.8yrs

Average Tenure

56.5yo

Average Age

Experienced Management: PARP's management team is seasoned and experienced (17.8 years average tenure).


Board Age and Tenure

5.8yrs

Average Tenure

55.5yo

Average Age

Experienced Board: PARP's board of directors are considered experienced (5.8 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

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


Management Team

  • Katy Zenou (58yo)

    Member of the Executive Board & GM

    • Tenure: 23.6yrs
    • Compensation: €233.34k
  • Ari Sebag (58yo)

    Member of the Executive Board & GM

    • Tenure: 23.6yrs
    • Compensation: €411.03k
  • Fabrice Paire (50yo)

    Chairman of the Executive Board

    • Tenure: 12yrs
    • Compensation: €428.96k
  • Jean-François Largillière (55yo)

    Member of the Executive Board

    • Tenure: 6.3yrs
    • Compensation: €190.13k
  • Valérie Fort

    Finance Director


    Board Members

    • Walter Butler (63yo)

      Member of Supervisory Board

      • Tenure: 8.8yrs
      • Compensation: €6.49k
    • Laurent Parquet (54yo)

      Member of Supervisory Board

      • Tenure: 3.3yrs
      • Compensation: €19.46k
    • M. Partouche (55yo)

      Chairman of the Supervisory Board

      • Tenure: 8.8yrs
      • Compensation: €544.46k
    • Isidore Partouche (88yo)

      Vice Chairman of the Supervisory Board

      • Compensation: €152.55k
    • Daniel Cohen (57yo)

      Member of Supervisory Board

      • Tenure: 8.1yrs
      • Compensation: €16.22k
    • Véronique Forneri (56yo)

      Member of the Supervisory Board

      • Tenure: 5.8yrs
      • Compensation: €6.49k
    • Salomé Partouche (30yo)

      Member of Supervisory Board

      • Tenure: 3.2yrs
      • Compensation: €16.22k
    • Caroline Texier (42yo)

      Member of Supervisory Board

      • Tenure: 2.6yrs
      • Compensation: €16.22k

    Company Information

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


    Key Information

    • Name: Groupe Partouche SA
    • Ticker: PARP
    • Exchange: ENXTPA
    • Founded: 1973
    • Industry: Casinos and Gaming
    • Sector: Consumer Services
    • Market Cap: €269.109m
    • Shares outstanding: 9.61m
    • Website: https://www.groupepartouche.com

    Number of Employees


    Location

    • Groupe Partouche SA
    • 141 bis rue de Saussure
    • Paris
    • Ile-de-France
    • 75017
    • France

    Listings

    TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
    0R62LSE (London Stock Exchange)Ordinary SharesGBEURJun 1995
    PARPENXTPA (Euronext Paris)YesNew Ordinary SharesFREURMar 2015
    PZ21DB (Deutsche Boerse AG)YesNew Ordinary SharesDEEURMar 2015
    PARPPBATS-CHIXE (BATS 'Chi-X Europe')YesNew Ordinary SharesGBEURMar 2015

    Biography

    Groupe Partouche SA, through its subsidiaries, operates casinos, hotels, restaurants, dancehalls, and bars in France, other European countries, and internationally. The company operates through three divisions: Casino, Hotel, and Other Activities. Its casinos offer table games, such as Boule; American, English, or French roulette; Casino War; Punto Banco; Blackjack, Stud Poker, and Hold’em Poker; Texas Hold’em Poker and Omaha Poker 4 high; Bingo; electronic roulette; electronic Blackjack; and electronic Texas Hold’em Poker and Bingo, as well as slot machines. The company also owns and operates diners, gourmet and themed restaurants, and health spas and golf courses; develops television (TV) programs and mobile TV gaming offerings; interactive game shows associated with an online gaming offering; markets gaming solutions and lotteries; and produces televised programs and events. In addition, it operates Quarisma, a platform for the real time management of quality services between customers and casino operators; and manages casino information systems, as well as data communication hardware and networks. Further, the company engages in real estate and sports betting activities. As of October 31, 2018, it operated 43 casinos with 5,113 slot machines installed in France and 665 machines installed internationally, as well as 900 electronic English roulette wheels installed in France and 22 wheels installed internationally; 10 hotels with approximately 410 rooms; 80 restaurants; and 5 health spas and 2 golf courses. The company was founded in 1973 and is headquartered in Paris, France. Groupe Partouche SA is a subsidiary of Financiere Partouche SA. 


    Company Analysis and Financial Data Status

    All financial data provided by Standard & Poor's Capital IQ.
    DataLast Updated (UTC time)
    Company Analysis2020/01/18 21:27
    End of Day Share Price2020/01/17 00:00
    Earnings2019/04/30
    Annual Earnings2018/10/31


    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.