Fromageries Bel SA produces and distributes cheese in Western Europe, Northern and Eastern Europe, the Americas, the Asia-Pacific, Greater Africa, and the Middle East.
+ 1 more risk
Adequate balance sheet second-rate dividend payer.
Share Price & News
How has Fromageries Bel's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FBEL has not had significant price volatility in the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: FBEL underperformed the French Food industry which returned -3% over the past year.
Return vs Market: FBEL underperformed the French Market which returned 10.5% over the past year.
Price Volatility Vs. Market
How volatile is Fromageries Bel's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall StAre Fromageries Bel's (EPA:FBEL) Statutory Earnings A Good Reflection Of Its Earnings Potential?
1 month ago | Simply Wall StInvestors Who Bought Fromageries Bel (EPA:FBEL) Shares Three Years Ago Are Now Down 43%
1 month ago | Simply Wall StDo Fromageries Bel SA’s (EPA:FBEL) Returns On Capital Employed Make The Cut?
Is Fromageries Bel undervalued compared to its fair value and its price relative to the market?
Price to Earnings (PE) ratio
Share Price vs. Fair Value
Below Fair Value: FBEL (€300) is trading above our estimate of fair value (€190.71)
Significantly Below Fair Value: FBEL is trading above our estimate of fair value.
Price To Earnings Ratio
PE vs Industry: FBEL is poor value based on its PE Ratio (16.4x) compared to the Food industry average (16.4x).
PE vs Market: FBEL is good value based on its PE Ratio (16.4x) compared to the French market (18.1x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate FBEL's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: FBEL is overvalued based on its PB Ratio (1.2x) compared to the FR Food industry average (1.2x).
How is Fromageries Bel forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Food, Beverage & Tobacco 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 Fromageries Bel 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.
- Examine Fromageries Bel's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
- Fromageries Bel competitive advantages and company strategy can generally be found in its financial reports archived here.
- Explore growth companies in the Food, Beverage & Tobacco industry.
How has Fromageries Bel performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FBEL has a large one-off loss of €58.6M impacting its June 30 2019 financial results.
Growing Profit Margin: FBEL's current net profit margins (3.7%) are lower than last year (4.5%).
Past Earnings Growth Analysis
Earnings Trend: FBEL's earnings have declined by -0.5% per year over the past 5 years.
Accelerating Growth: FBEL's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: FBEL had negative earnings growth (-16.8%) over the past year, making it difficult to compare to the Food industry average (-15.6%).
Return on Equity
High ROE: FBEL's Return on Equity (7.1%) is considered low.
Return on Assets
Return on Capital Employed
How is Fromageries Bel's financial position?
Financial Position Analysis
Short Term Liabilities: FBEL's short term assets (€1.4B) exceed its short term liabilities (€1.1B).
Long Term Liabilities: FBEL's short term assets (€1.4B) exceed its long term liabilities (€1.2B).
Debt to Equity History and Analysis
Debt Level: FBEL's debt to equity ratio (59.6%) is considered high.
Reducing Debt: FBEL's debt to equity ratio has increased from 46.2% to 59.6% over the past 5 years.
Debt Coverage: FBEL's debt is well covered by operating cash flow (22.6%).
Interest Coverage: FBEL's interest payments on its debt are well covered by EBIT (10.3x coverage).
Inventory Level: FBEL has a high level of physical assets or inventory.
Debt Coverage by Assets: FBEL's debt is covered by short term assets (assets are 1.3x debt).
What is Fromageries Bel's current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: FBEL's dividend (1.65%) is higher than the bottom 25% of dividend payers in the French market (1.6%).
High Dividend: FBEL's dividend (1.65%) is low compared to the top 25% of dividend payers in the French market (4.68%).
Stability and Growth of Payments
Stable Dividend: FBEL's dividend payments have been volatile in the past 10 years.
Growing Dividend: FBEL's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (27.1%), FBEL'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.
How experienced are the management team and are they aligned to shareholders interests?
Average board tenure
Antoine Fiévet (55yo)
Mr. Antoine Fiévet has been the Chief Executive Officer of Fromageries Bel since May 14, 2009. Mr. Fiévet served as a Manager and Acting Partner of Unibel. Mr. Fiévet served as Co-Manager of R.F.E. and Man ...
CEO Compensation Analysis
Compensation vs Market: Antoine's total compensation ($USD1.60M) is above average for companies of similar size in the French market ($USD1.12M).
Compensation vs Earnings: Antoine's compensation has been consistent with company performance over the past year.
|Chairman & CEO||10.8yrs||€1.47m||3.5% €71.2m|
|Lead Independent Director||4.6yrs||€91.00k||no data|
|Permanent Representative Director||1.6yrs||€1.57m||no data|
|Independent Director||7.8yrs||€34.80k||no data|
|Independent Director||5.8yrs||€18.00k||no data|
|Employee Representative Director||1.6yrs||€16.40k||no data|
Experienced Board: FBEL's board of directors are considered experienced (5.8 years average tenure).
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.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Fromageries Bel SA's company bio, employee growth, exchange listings and data sources
- Name: Fromageries Bel SA
- Ticker: FBEL
- Exchange: ENXTPA
- Founded: 1865
- Industry: Packaged Foods and Meats
- Sector: Food, Beverage & Tobacco
- Market Cap: €2.036b
- Shares outstanding: 6.79m
- Website: https://www.groupe-bel.com
Number of Employees
- Fromageries Bel SA
- 2 allée de Longchamp
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|FBEL||ENXTPA (Euronext Paris)||Yes||Common Shares||FR||EUR||Jan 1992|
|0EIA||LSE (London Stock Exchange)||Yes||Common Shares||GB||EUR||Jan 1992|
|FBELP||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Common Shares||GB||EUR||Jan 1992|
Fromageries Bel SA produces and distributes cheese in Western Europe, Northern and Eastern Europe, the Americas, the Asia-Pacific, Greater Africa, and the Middle East. The company offers its products under core brands, including The Laughing Cow, Kiri, Mini Babybel, Leerdammer, and Boursin. It also provides institutional catering services to hospitals and company canteens; and commercial catering services to restaurants, vending machine operators, etc. In addition, the company markets and sells prepared dairy proteins to meet the needs of food industry customers who make products, such as ice cream, yogurt, and other foods that use dairy products under the Nollibel name. The company was founded in 1865 and is headquartered in Suresnes, France. Fromageries Bel SA is a subsidiary of Unibel SA.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/02/25 21:09|
|End of Day Share Price||2020/02/25 00:00|
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.