ENXTPA:FP

Stock Analysis Report

Executive Summary

TOTAL S.A. operates as an integrated oil and gas company worldwide.

Rewards

Trading at 40.5% below its fair value

Earnings are forecast to grow 8.15% per year

Risk Analysis

Has a high level of debt

Unstable dividend track record

Shareholders have been diluted in the past year



Snowflake Analysis

Good value with adequate balance sheet and pays a dividend.


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Chevron

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Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

0.7%

FP

0.7%

FR Oil and Gas

-0.9%

FR Market


1 Year Return

-0.4%

FP

-0.3%

FR Oil and Gas

20.4%

FR Market

Return vs Industry: FP matched the French Oil and Gas industry which returned -0.3% over the past year.

Return vs Market: FP underperformed the French Market which returned 20.4% over the past year.


Shareholder returns

FPIndustryMarket
7 Day0.7%0.7%-0.9%
30 Day-2.7%-2.7%-0.2%
90 Day3.5%3.1%4.2%
1 Year5.0%-0.4%5.1%-0.3%24.4%20.4%
3 Year20.6%3.3%21.4%4.2%42.4%28.8%
5 Year52.7%16.6%50.5%15.5%74.6%49.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

40.5%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: FP (€47.96) is trading below our estimate of fair value (€80.66)

Significantly Below Fair Value: FP is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: FP is good value based on its PE Ratio (14.3x) compared to the Oil and Gas industry average (16.1x).

PE vs Market: FP is good value based on its PE Ratio (14.3x) compared to the French market (17.7x).


Price to Earnings Growth Ratio

PEG Ratio: FP is poor value based on its PEG Ratio (1.7x)


Price to Book Ratio

PB vs Industry: FP is overvalued based on its PB Ratio (1.2x) compared to the FR Oil and Gas industry average (0.8x).


Next Steps

Future Growth

How is TOTAL forecast to perform in the next 1 to 3 years based on estimates from 22 analysts?

8.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FP's forecast earnings growth (8.1% per year) is above the savings rate (-0.1%).

Earnings vs Market: FP's earnings (8.1% per year) are forecast to grow slower than the French market (11.6% per year).

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

Revenue vs Market: FP's revenue (2.7% per year) is forecast to grow slower than the French market (4.7% per year).

High Growth Revenue: FP's revenue (2.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: FP's Return on Equity is forecast to be low in 3 years time (10.4%).


Next Steps

Past Performance

How has TOTAL performed over the past 5 years?

20.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FP has high quality earnings.

Growing Profit Margin: FP's current net profit margins (5.5%) are lower than last year (6.3%).


Past Earnings Growth Analysis

Earnings Trend: FP's earnings have grown significantly by 20.8% per year over the past 5 years.

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

Earnings vs Industry: FP had negative earnings growth (-13.6%) over the past year, making it difficult to compare to the Oil and Gas industry average (-5.4%).


Return on Equity

High ROE: FP's Return on Equity (8.5%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is TOTAL's financial position?


Financial Position Analysis

Short Term Liabilities: FP's short term assets ($81.4B) exceed its short term liabilities ($66.7B).

Long Term Liabilities: FP's short term assets ($81.4B) do not cover its long term liabilities ($83.4B).


Debt to Equity History and Analysis

Debt Level: FP's debt to equity ratio (52.1%) is considered high.

Reducing Debt: FP's debt to equity ratio has reduced from 53% to 52.1% over the past 5 years.

Debt Coverage: FP's debt is well covered by operating cash flow (47%).

Interest Coverage: FP's interest payments on its debt are well covered by EBIT (12x coverage).


Balance Sheet

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

Debt Coverage by Assets: FP's debt is covered by short term assets (assets are 1.3x debt).


Next Steps

Dividend

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

5.58%

Current Dividend Yield


Upcoming Dividend Payment

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


Dividend Yield vs Market

company5.6%marketbottom25%1.5%markettop25%4.6%industryaverage5.5%forecastin3Years5.8%

Current dividend yield vs market & industry

Notable Dividend: FP's dividend (5.58%) is higher than the bottom 25% of dividend payers in the French market (1.49%).

High Dividend: FP's dividend (5.58%) is in the top 25% of dividend payers in the French market (4.6%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (77.5%), FP's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: FP's dividends in 3 years are forecast to be covered by earnings (61.4% payout ratio).


Next Steps

Management

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

3.7yrs

Average management tenure


CEO

Patrick Pouyanné (56yo)

5.2yrs

Tenure

US$5,802,972

Compensation

Mr. Patrick Pouyanné serves as Chairman and Chief Executive Officer of Total E&P Norge AS. Mr. Pouyanné has been the Chairman of the Board at TOTAL S.A. since December 19, 2015 and as its Chief Executive O ...


CEO Compensation Analysis

Compensation vs Market: Patrick's total compensation ($USD6.43M) is above average for companies of similar size in the French market ($USD3.75M).

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


Management Age and Tenure

3.7yrs

Average Tenure

56yo

Average Age

Experienced Management: FP's management team is considered experienced (3.7 years average tenure).


Board Age and Tenure

4.0yrs

Average Tenure

64yo

Average Age

Experienced Board: FP's board of directors are considered experienced (4 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 been diluted in the past year, with total shares outstanding growing by 2.2%.


Management Team

  • Jacques-Emmanuel Saulnier

    Senior Vice President of Corporate Communications

    • Tenure: 8.2yrs
  • Jean-Marc Jaubert (62yo)

    Senior Vice President of Industrial Safety

    • Tenure: 15.3yrs
  • Michel Hourcard

    SVP of Development & Ops Techniques - Exploration/Production & SVP of Scientific & Technical Center

    • Tenure: 10.7yrs
  • Patrick Pouyanné (56yo)

    Chairman

    • Tenure: 5.2yrs
    • Compensation: US$5.80m
  • Ladislas Paszkiewicz (56yo)

    Senior Vice President of Investor Relations

    • Tenure: 0.4yrs
  • Momar Nguer (63yo)

    President of Marketing & Services

    • Tenure: 3.7yrs
  • Jean-Pierre Sbraire

    Chief Financial Officer

    • Tenure: 0.3yrs
  • Marie-Noëlle Semeria

    Senior VP & Group CTO

    • Tenure: 2.1yrs
  • Namita Shah (51yo)

    President of People & Social Responsibility

    • Tenure: 3.3yrs
  • Aurélien Hamelle

    Senior Vice President of Legal

    • Tenure: 0yrs

Board Members

  • Patricia Marie Barbizet (64yo)

    Lead Independent Director

    • Tenure: 4yrs
    • Compensation: US$137.39k
  • Marie-Christine Coisne-Roquette (63yo)

    Independent Director

    • Tenure: 8.6yrs
    • Compensation: US$149.13k
  • Jean Lemierre (69yo)

    Independent Director

    • Tenure: 3.6yrs
    • Compensation: US$94.35k
  • Anne-Marie Idrac (68yo)

    Independent Director

    • Tenure: 7.6yrs
    • Compensation: US$94.35k
  • Jacques Maigné (64yo)

    Chairman & CEO of Hutchinson

    • Tenure: 8.9yrs
  • Patrick Pouyanné (56yo)

    Chairman

    • Tenure: 5.2yrs
    • Compensation: US$5.80m
  • Carlos Tavares (61yo)

    Independent Director

    • Tenure: 2.6yrs
    • Compensation: US$63.04k
  • Mark Cutifani (61yo)

    Independent Director

    • Tenure: 2.6yrs
    • Compensation: US$106.52k
  • Patrick Artus (68yo)

    Independent Director

    • Tenure: 10.6yrs
    • Compensation: US$138.70k
  • Maria van der Hoeven (70yo)

    Independent Director

    • Tenure: 3.6yrs
    • Compensation: US$194.35k

Company Information

TOTAL S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: TOTAL S.A.
  • Ticker: FP
  • Exchange: ENXTPA
  • Founded: 1924
  • Industry: Integrated Oil and Gas
  • Sector: Energy
  • Market Cap: €124.464b
  • Shares outstanding: 2.64b
  • Website: https://www.total.com

Number of Employees


Location

  • TOTAL S.A.
  • 2, place Jean Millier
  • La Défense Cedex
  • Paris
  • Ile-de-France
  • 92078
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
TOTBDB (Deutsche Boerse AG)YesCommon SharesDEEURJan 1980
TTALSE (London Stock Exchange)YesCommon SharesGBEURJan 1980
FPENXTPA (Euronext Paris)YesCommon SharesFREURJan 1980
TTFN.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJan 1980
TOTBIT (Borsa Italiana)YesCommon SharesITEURJan 1980
TOTBXTRA (XETRA Trading Platform)YesCommon SharesDEEURJan 1980
FPPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJan 1980
FPSWX (SIX Swiss Exchange)YesCommon SharesCHCHFJan 1980
FPWBAG (Wiener Boerse AG)YesCommon SharesATEURJan 1980
TOTADB (Deutsche Boerse AG)SPON ADR EA REP 1 ORD SHSDEEUROct 1991
TOTNYSE (New York Stock Exchange)SPON ADR EA REP 1 ORD SHSUSUSDOct 1991
TOT NBMV (Bolsa Mexicana de Valores)SPON ADR EA REP 1 ORD SHSMXMXNOct 1991
0A30LSE (London Stock Exchange)SPON ADR EA REP 1 ORD SHSGBUSDOct 1991

Biography

TOTAL S.A. operates as an integrated oil and gas company worldwide. The company operates through four segments: Exploration & Production; Gas, Renewables & Power; Refining & Chemicals; and Marketing & Serv ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/08 20:59
End of Day Share Price2019/12/06 00:00
Earnings2019/09/30
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.