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Natixis

ENXTPA:KN
Snowflake Description

Average dividend payer and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KN
ENXTPA
€15B
Market Cap
  1. Home
  2. FR
  3. Diversified Financials
Company description

Natixis S.A. provides asset and wealth management, corporate and investment banking, insurance, and payment services primarily in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The last earnings update was 17 days ago. More info.


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KN Share Price and Events
7 Day Returns
-7.1%
ENXTPA:KN
-5%
FR Capital Markets
-2.3%
FR Market
1 Year Returns
-31.8%
ENXTPA:KN
-23.3%
FR Capital Markets
-4%
FR Market
KN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Natixis (KN) -7.1% -8.9% 1.5% -31.8% 6.3% -5.2%
FR Capital Markets -5% -5.5% 5.5% -23.3% 15.3% -0.2%
FR Market -2.3% -4.3% 2.2% -4% 23.9% 25.8%
1 Year Return vs Industry and Market
  • KN underperformed the Capital Markets industry which returned -23.3% over the past year.
  • KN underperformed the Market in France which returned -4% over the past year.
Price Volatility
KN
Industry
5yr Volatility vs Market

KN Value

 Is Natixis undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Natixis to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Natixis.

ENXTPA:KN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 12 analysts.
= Stable Book Value * Return on Equity
= €5.31 * 9%
€0.48
Book Value of Equity per Share Weighted future Book Value estimates from 9 analysts. €5.31
Discount Rate (Cost of Equity) See below 13%
Perpetual Growth Rate 10-Year FR Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTPA:KN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.7%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.7
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.701 (1 + (1- 33%) (332.76%))
1.848
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.85
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (1.848 * 6.65%)
13.02%

Discounted Cash Flow Calculation for ENXTPA:KN using Excess Returns Model Model

The calculations below outline how an intrinsic value for Natixis is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

ENXTPA:KN Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (9% – 13.02%) * €5.31)
€-0.21
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-0.21 / (13.02% - 0.73%)
€-1.72
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €5.31 + €-1.72
€3.59
ENXTPA:KN Discount to Share Price
Calculation Result
Value per share (EUR) From above. €3.59
Current discount Discount to share price of €4.74
= -1 x (€4.74 - €3.59) / €3.59
-32%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Natixis is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Natixis's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Natixis's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:KN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in EUR €0.62
ENXTPA:KN Share Price ** ENXTPA (2019-05-24) in EUR €4.74
France Capital Markets Industry PE Ratio Median Figure of 9 Publicly-Listed Capital Markets Companies 21.01x
France Market PE Ratio Median Figure of 421 Publicly-Listed Companies 17.37x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Natixis.

ENXTPA:KN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:KN Share Price ÷ EPS (both in EUR)

= 4.74 ÷ 0.62

7.6x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Natixis is good value based on earnings compared to the FR Capital Markets industry average.
  • Natixis is good value based on earnings compared to the France market.
Price based on expected Growth
Does Natixis's expected growth come at a high price?
Raw Data
ENXTPA:KN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.6x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts
-6.2%per year
Europe Capital Markets Industry PEG Ratio Median Figure of 60 Publicly-Listed Capital Markets Companies 1.38x
France Market PEG Ratio Median Figure of 268 Publicly-Listed Companies 1.45x

*Line of best fit is calculated by linear regression .

ENXTPA:KN PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.6x ÷ -6.2%

-1.24x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Natixis earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Natixis's assets?
Raw Data
ENXTPA:KN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in EUR €6.60
ENXTPA:KN Share Price * ENXTPA (2019-05-24) in EUR €4.74
France Capital Markets Industry PB Ratio Median Figure of 11 Publicly-Listed Capital Markets Companies 1.15x
France Market PB Ratio Median Figure of 622 Publicly-Listed Companies 1.42x
ENXTPA:KN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:KN Share Price ÷ Book Value per Share (both in EUR)

= 4.74 ÷ 6.60

0.72x

* Primary Listing of Natixis.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Natixis is good value based on assets compared to the FR Capital Markets industry average.
X
Value checks
We assess Natixis's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Natixis has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

KN Future Performance

 How is Natixis expected to perform in the next 1 to 3 years based on estimates from 12 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
-6.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Natixis expected to grow at an attractive rate?
  • Natixis's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Natixis's earnings are expected to decrease over the next 1-3 years, this is below the France market average.
  • Natixis's revenue growth is positive but not above the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:KN Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:KN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 12 Analysts -6.2%
ENXTPA:KN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 12 Analysts 1.6%
France Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average -2%
Europe Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 5.3%
France Market Earnings Growth Rate Market Cap Weighted Average 13.2%
France Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTPA:KN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:KN Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 9,311 1,659 11
2020-12-31 9,000 1,547 12
2019-12-31 8,799 1,845 11
ENXTPA:KN Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-03-31 10,174 1,960
2018-12-31 9,549 -6,085 1,480
2018-09-30 9,878 1,676
2018-06-30 9,686 -10,483 1,707
2018-03-31 9,488 1,593
2017-12-31 9,360 -4,042 1,575
2017-09-30 9,401 1,497
2017-06-30 9,159 2,048 1,446
2017-03-31 8,888 1,355
2016-12-31 8,719 13,216 1,296
2016-09-30 8,266 1,081
2016-06-30 8,261 -2,984 1,148

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Natixis's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Natixis's revenue is expected to grow by 1.6% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTPA:KN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below

All data from Natixis Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:KN Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 0.52 0.55 0.49 9.00
2020-12-31 0.48 0.58 0.45 13.00
2019-12-31 0.57 0.65 0.43 13.00
ENXTPA:KN Past Financials Data
Date (Data in EUR Millions) EPS *
2019-03-31 0.62
2018-12-31 0.47
2018-09-30 0.53
2018-06-30 0.54
2018-03-31 0.51
2017-12-31 0.50
2017-09-30 0.48
2017-06-30 0.46
2017-03-31 0.44
2016-12-31 0.41
2016-09-30 0.35
2016-06-30 0.37

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Natixis is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Natixis's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Natixis has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

KN Past Performance

  How has Natixis performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Natixis's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Natixis's year on year earnings growth rate has been positive over the past 5 years.
  • Natixis's 1-year earnings growth exceeds its 5-year average (23% vs 13.1%)
  • Natixis's earnings growth has exceeded the FR Capital Markets industry average in the past year (23% vs 0.4%).
Earnings and Revenue History
Natixis's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Natixis Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:KN Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 10,174.00 1,960.00 400.00
2018-12-31 9,549.00 1,480.00 400.00
2018-09-30 9,878.00 1,676.00 387.00
2018-06-30 9,686.00 1,707.00 426.00
2018-03-31 9,488.00 1,593.00 387.00
2017-12-31 9,360.00 1,575.00 387.00
2017-09-30 9,401.00 1,497.00 238.00
2017-06-30 9,159.00 1,446.20 354.00
2017-03-31 8,888.00 1,355.00 238.00
2016-12-31 8,719.00 1,296.00 348.00
2016-09-30 8,266.00 1,081.00 266.00
2016-06-30 8,261.00 1,147.80 189.00
2016-03-31 8,251.00 1,201.00 266.00
2015-12-31 8,382.00 1,288.00 215.00
2015-09-30 8,064.00 1,205.00 278.00
2015-06-30 7,888.00 1,180.00 327.00
2015-03-31 7,598.00 1,102.00 278.00
2014-12-31 7,287.00 1,085.00 278.00
2014-09-30 6,991.00 942.00 302.00
2014-06-30 7,157.00 990.00 292.00
2014-03-31 6,797.00 818.00 303.00
2013-12-31 6,698.00 835.00 303.00
2013-09-30 6,366.00 843.00 291.00
2013-06-30 6,138.00 755.00 287.00
2013-03-31 6,221.00 927.00 291.00
2012-12-31 5,860.00 837.00 291.00
2012-09-30 6,028.00 784.00 265.00
2012-06-30 6,147.00 1,063.00 283.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Natixis has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Natixis used its assets less efficiently than the FR Capital Markets industry average last year based on Return on Assets.
  • Unable to establish if Natixis improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Natixis's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Natixis has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

KN Health

 How is Natixis's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Natixis's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Natixis is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Natixis's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Natixis's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 5.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Natixis Company Filings, last reported 1 month ago.

ENXTPA:KN Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 22,200.00 49,700.00 239,600.00
2018-12-31 21,195.00 128,093.00 220,780.00
2018-09-30 20,800.00 45,400.00 236,200.00
2018-06-30 20,335.00 138,117.00 234,879.00
2018-03-31 21,000.00 39,900.00 239,900.00
2017-12-31 20,855.00 129,423.00 245,423.00
2017-09-30 21,000.00 177,600.00 221,400.00
2017-06-30 20,790.00 229,094.00 213,217.00
2017-03-31 21,800.00 178,100.00 207,700.00
2016-12-31 21,132.00 243,271.00 256,227.00
2016-09-30 20,400.00 195,100.00 214,800.00
2016-06-30 19,983.00 240,467.00 216,425.00
2016-03-31 20,900.00 207,000.00 220,500.00
2015-12-31 20,501.00 222,163.00 200,662.00
2015-09-30 19,606.00 239,943.00 224,089.00
2015-06-30 19,606.00 239,943.00 224,089.00
2015-03-31 21,000.00 263,200.00 297,000.00
2014-12-31 20,161.00 284,113.00 336,759.00
2014-09-30 19,067.00 234,875.00 235,678.00
2014-06-30 19,067.00 234,875.00 235,678.00
2014-03-31 17,945.00 215,306.00 270,154.00
2013-12-31 17,945.00 215,306.00 270,154.00
2013-09-30 18,671.00 254,224.00 278,403.00
2013-06-30 18,671.00 254,224.00 278,403.00
2013-03-31 20,020.00 238,289.00 285,719.00
2012-12-31 19,891.00 238,433.00 285,719.00
2012-09-30 19,514.00 384,602.00 270,370.00
2012-06-30 19,514.00 384,602.00 270,370.00
  • Natixis's level of debt (223.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (1200.2% vs 223.9% today).
  • Operating cash flow is negative therefore debt is not well covered.
  • Unable to confirm if the interest payments on Natixis's debt are well covered by earnings due to lack of past financial data.
X
Financial health checks
We assess Natixis's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Natixis has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

KN Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.33%
Current annual income from Natixis dividends. Estimated to be 8.17% next year.
If you bought €2,000 of Natixis shares you are expected to receive €127 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Natixis's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.59%).
  • Natixis's dividend is above the markets top 25% of dividend payers in France (4.52%).
Upcoming dividend payment

Purchase Natixis before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTPA:KN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 12 Analyst Estimates (S&P Global) See Below
France Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 5.1%
France Market Average Dividend Yield Market Cap Weighted Average of 324 Stocks 3.1%
France Minimum Threshold Dividend Yield 10th Percentile 0.9%
France Bottom 25% Dividend Yield 25th Percentile 1.6%
France Top 25% Dividend Yield 75th Percentile 4.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTPA:KN Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.40 12.00
2020-12-31 0.38 16.00
2019-12-31 0.39 16.00
ENXTPA:KN Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-15 0.300 6.014
2019-02-12 0.300 6.520
2018-02-23 0.370 6.592
2017-03-22 0.350 5.446
2017-02-09 0.350 6.403
2016-03-10 0.250 5.765
2016-02-10 0.250 5.273
2015-03-12 0.200 3.433
2015-02-19 0.200 3.113
2014-03-14 0.160 3.038
2014-02-20 0.160 3.147
2013-02-18 0.100 2.727
2012-08-02 0.100 3.967
2012-03-01 0.100 4.551
2011-04-05 0.230 8.792
2011-02-23 0.230 5.576
2009-11-19 0.000 0.000
2009-09-09 0.000 0.000
2009-08-26 0.000 0.000
2009-06-26 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Natixis has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Natixis only paid a dividend in the past 8 years.
Current Payout to shareholders
What portion of Natixis's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2.1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Natixis's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Natixis afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Natixis has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

KN Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
François Riahi
COMPENSATION €1,422,778
AGE 45
TENURE AS CEO 0.9 years
CEO Bio

Mr. François Riahi serve as Chief Executive Officer of Natixis SA since June 1, 2018. He served as Head/Chief Executive Officer in charge of finance, strategy and legal affairs, Supervisory Board secretary and Member of the Management Board of Groupe BPCE since January 2018. Mr. Riahi served as Deputy Head of Corporate and Investment Banking at Natixis SA until 2018. Mr. Riahi serves as the Member of the Management Board at BPCE SA since June 1, 2018. Mr. Riahi served as the Co-Head of Corporate & Investment Banking at Natixis from March 2016 to April 2016 and served as its Head of The Corporate & Investment Banking for Asia Pacific Platform from 2012 to April 2016. Mr. Riahi served as the Chief Executive Officer of Asia-Pacific at Natixis Japan Securities Co.,Ltd. Mr. Riahi serves as Member of Executive Committee at Natixis. He served as the Chief Executive Officer of Corporate and Investment Banking Asia-Pacific at Natixis. He joined Groupe BPCE in 2009 as deputy CEO. Mr. Riahi served as the Deputy Chief Operating Officer of Strategy and Member of Management Board at Groupe BPCE. He served as the Chief Operating Officer of Groupe Banques Populaire and also served as its Deputy Chief Operating Officer of Strategy. He served as Chairman of the Supervisory Board at NATIXIS Pfandbriefbank AG until February 28, 2018. Mr. Riahi served as the Chief Executive Officer, Member of the Management Board and Supervisory Board Secretary of BPCE SA. He served as Director at Natixis Assurances SA since October 26, 2017 until December 31, 2017. He has been an Advisor to François Pérol at Caisse Nationale des Caisses d'Epargne and Banque Fédérale des Banques Populaires since March 2009. He served as an Inspecteur des Finances (auditor at the French Treasury) in the Inspection Générale des Finances from 2001 to 2005. Mr. Riahi was then appointed to the Government's Budget Department, first as Project Manager reporting to the Budget Director and subsequently as Head of the Budget Policy Office. Since 2007, he served as an Advisor to the President of the French Republic, with a responsibility for the reform of State institutions and public finance. He serves as the Chairman and Director of Coface SA since June 15, 2018. He served as a Director of Nexity until July 25, 2012. He was a student at the Ecole Nationale d'Administration (ENA). Mr. Riahi is a graduate of the Paris Institute of Political Science (Sciences Po) and of the Ecole Centrale de Paris school of engineering.

CEO Compensation
  • Insufficient data for François to compare compensation growth.
  • François's remuneration is lower than average for companies of similar size in France.
Management Team Tenure

Average tenure and age of the Natixis management team in years:

0.8
Average Tenure
48.5
Average Age
  • The average tenure for the Natixis management team is less than 2 years, this suggests a new team.
Management Team

François Riahi

TITLE
Chief Executive Officer
COMPENSATION
€1M
AGE
45
TENURE
0.9 yrs

Nathalie Bricker

TITLE
Chief Financial Officer
AGE
50
TENURE
0.8 yrs

Véronique Sani

TITLE
Head of Operations & Information Systems
TENURE
0.7 yrs

Marc Vincent

TITLE
Global Head of Corporate & Investment Banking

Raghu Narain

TITLE
Head of Investment Banking - APAC

Mohamed Kallala

TITLE
Global Head of Investment Banking-CIB

Luc Barnaud

TITLE
Head of Digital & Technology Office
AGE
47
TENURE
1.1 yrs

Damien Souchet

TITLE
Head of IR

Christian Le Hir

TITLE
Chief Legal Officer
AGE
58

Alain Bruneau

TITLE
Global Head of Compliance
TENURE
0.2 yrs
Board of Directors Tenure

Average tenure and age of the Natixis board of directors in years:

3.3
Average Tenure
62.5
Average Age
  • The tenure for the Natixis board of directors is about average.
Board of Directors

Laurent Mignon

TITLE
Chairman of the Board of Directors
COMPENSATION
€2M
AGE
55
TENURE
0.9 yrs

Henri Proglio

TITLE
Non-Voting Director
COMPENSATION
€49K
AGE
69
TENURE
0.1 yrs

Bernard Roger Oppetit

TITLE
Independent Director
COMPENSATION
€61K
AGE
62
TENURE
9.5 yrs

Nicolás de Tavernost Abel

TITLE
Independent Director
COMPENSATION
€51K
AGE
68
TENURE
5.8 yrs

Anne Lalou

TITLE
Independent Director
COMPENSATION
€43K
AGE
55
TENURE
4.3 yrs

Catherine Pariset

TITLE
Independent Director
COMPENSATION
€60K
AGE
65
TENURE
2.4 yrs

Diane de Saint Victor

TITLE
Independent Director
AGE
63
TENURE
0.1 yrs

Philippe Sueur

TITLE
Director
COMPENSATION
€28K
AGE
72
TENURE
10.1 yrs

Catherine Halberstadt

TITLE
Representative Director
AGE
60
TENURE
1.3 yrs

Alain Condaminas

TITLE
Director
COMPENSATION
€37K
AGE
61
TENURE
7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Natixis's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Natixis has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

KN News

Simply Wall St News

What To Know Before Buying Natixis S.A. (EPA:KN) For Its Dividend

Dividends play an important role in compounding returns in the long run and end up forming a sizeable part of investment returns. … (EPA:KN) has paid a dividend to shareholders. … Here's how I find good dividend stocks

Simply Wall St -

What Should Investors Know About The Future Of Natixis S.A.'s (EPA:KN)?

(EPA:KN) announced its earnings update. … with earnings expected to grow by 27% in the upcoming year … the past 5-year average growth rate of 13%

Simply Wall St -

If You Had Bought Natixis Stock A Year Ago, You'd Be Sitting On A 28% Loss, Today

But this could be related to good market conditions, with stocks up around 5.1% during the period. … One flawed but reasonable way to assess how sentiment around a company has changed is to compare the earnings per share (EPS) with the share price. … The share price decline of 28% is actually more than the EPS drop.

Simply Wall St -

Is Now An Opportune Moment To Examine Natixis S.A. (EPA:KN)?

saw a decent share price growth in the teens level on the ENXTPA over the last few months. … As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock … However, what if the stock is still a bargain?

Simply Wall St -

What To Know Before Buying Natixis S.A. (EPA:KN) For Its Dividend

Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … Let's dig deeper into whether Natixis should have a place in your portfolio. … Check out our latest analysis for Natixis

Simply Wall St -

What Kind Of Shareholder Appears On The Natixis SA's (EPA:KN) Shareholder Register?

Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. … Our analysis of the ownership of the company, below, shows that. … institutions own shares in the company.

Simply Wall St -

How Has Natixis SA's (EPA:KN) Performed Against The Industry?

Measuring Natixis SA's (EPA:KN) track record of past performance is a valuable exercise for investors. … Today I will assess KN's recent performance announced on 30 June 2018 and compare these figures to its historical trend and industry movements. … How Did KN's Recent Performance Stack Up Against Its Past.

Simply Wall St -

Why Natixis SA's (EPA:KN) Investor Composition Impacts Your Returns

Today, I will be analyzing Natixis SA’s (EPA:KN) recent ownership structure, an important but not-so-popular subject among individual investors. … The impact of a company's ownership structure affects both its short- and long-term performance. … Therefore, it is beneficial for us to examine KN's ownership structure in more detail.

Simply Wall St -

Is It Too Late To Buy Natixis SA (EPA:KN) At Its July Price?

Natixis SA (EPA:KN) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of €6 is based on unrealistic expectations. … View our latest analysis for Natixis? … Investors in Natixis have been patiently waiting for the uptick in earnings.

Simply Wall St -

Should Natixis SA (EPA:KN) Be Part Of Your Dividend Portfolio?

Dividends play a key role in compounding returns over time and can form a large part of our portfolio return. … Natixis SA (EPA:KN) has returned to shareholders over the past 10 years, an average dividend yield of 5.00% annually. … Let's dig deeper into whether Natixis should have a place in your portfolio.

Simply Wall St -

KN Company Info

Description

Natixis S.A. provides asset and wealth management, corporate and investment banking, insurance, and payment services primarily in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company offers asset and wealth management services in the areas of savings, investment, risk management, and advisory; and mergers and acquisitions, primary equity and loan markets, acquisition and strategic finance, financial transactions on shares, capital, and rating advisory services; structured financing. It also provides capital market services, including fixed income, credit, forex, equity derivatives, and research; and trade finance, liquidity management, and cash management for corporations and financial institutions. In addition, the company offers life insurance, investment solutions, wealth planning, pensions, accidental death insurance, disability insurance, and borrower insurance products; and motor-vehicle insurance, multi-risk home insurance, complementary health insurance, accidental damage, multi-media equipment insurance, legal protection, non-bank insurance, remote surveillance, and insurance for professionals. The company was formerly known as Natexis Banques Populaires SA and changed its name to Natixis S.A. in 2006. The company was founded in 1919 and is headquartered in Paris, France. Natixis S.A. is a subsidiary of BPCE S.A.

Details
Name: Natixis S.A.
KN
Exchange: ENXTPA
Founded: 1919
€14,935,795,923
3,151,676,709
Website: http://www.natixis.com
Address: Natixis S.A.
30, avenue Pierre Mendès France,
Paris,
Ile-de-France, 75013,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA KN Common Stock Euronext Paris FR EUR 02. Jan 1986
OTCPK NTXF.F Common Stock Pink Sheets LLC US USD 02. Jan 1986
DB NBP Common Stock Deutsche Boerse AG DE EUR 02. Jan 1986
LSE 0IHK Common Stock London Stock Exchange GB EUR 02. Jan 1986
SWX KN Common Stock SIX Swiss Exchange CH CHF 02. Jan 1986
BATS-CHIXE KNP Common Stock BATS 'Chi-X Europe' GB EUR 02. Jan 1986
OTCPK NTXF.Y UNSPONSORD ADR Pink Sheets LLC US USD 26. Feb 2009
Number of employees
Current staff
Staff numbers
18,495
Natixis employees.
Industry
Diversified Capital Markets
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/26 21:03
End of day share price update: 2019/05/24 00:00
Last estimates confirmation: 2019/05/21
Last earnings filing: 2019/05/09
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.