ENXTPA:KORI

Stock Analysis Report

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Executive Summary

Korian provides integrated health and care services for the elderly in France, Germany, Belgium, Italy, Spain, and the Netherlands.


Snowflake Analysis

Good value with reasonable growth potential.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-7.7%

KORI

-3.5%

FR Healthcare

1.8%

FR Market


1 Year Return

-10.7%

KORI

-5.1%

FR Healthcare

-4.8%

FR Market

Return vs Industry: KORI underperformed the French Healthcare industry which returned -5.1% over the past year.

Return vs Market: KORI underperformed the French Market which returned -4.8% over the past year.


Shareholder returns

KORIIndustryMarket
7 Day-7.7%-3.5%1.8%
30 Day1.6%1.9%-1.3%
90 Day7.4%5.1%7.1%
1 Year-10.7%-10.7%-5.1%-5.1%-2.8%-4.8%
3 Year17.7%13.4%13.2%9.6%10.7%1.2%
5 Year7.3%-0.9%39.1%31.2%24.7%7.5%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KORI (€32.1) is trading below our estimate of fair value (€93.92)

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


Price To Earnings Ratio

PE vs Industry: KORI's PE Ratio (35.6x) is in line with the FR Healthcare industry average.

PE vs Market: KORI is poor value based on its PE Ratio (35.6x) compared to the French market (16x).


Price to Earnings Growth Ratio

PEG Ratio: KORI is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: KORI is good value based on its PB Ratio (1x) compared to the FR Healthcare industry average (2.3x).


Next Steps

Future Growth

How is Korian forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

48.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KORI's forecast earnings growth (48.2% per year) is above the savings rate (0.6%).

Earnings vs Market: KORI's earnings (48.2% per year) are forecast to grow faster than the French market (23.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: KORI's revenue (7% per year) is forecast to grow faster than the French market (6.4% per year).

High Growth Revenue: KORI's revenue (7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KORI's Return on Equity is forecast to be low in 3 years time (6.5%).


Next Steps

Past Performance

How has Korian performed over the past 5 years?

7.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KORI has a large one-off loss of €31.0M impacting its June 30 2020 financial results.

Growing Profit Margin: KORI's current net profit margins (2%) are lower than last year (3.4%).


Past Earnings Growth Analysis

Earnings Trend: KORI's earnings have grown by 7.4% per year over the past 5 years.

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

Earnings vs Industry: KORI had negative earnings growth (-37.5%) over the past year, making it difficult to compare to the Healthcare industry average (-20.6%).


Return on Equity

High ROE: KORI's Return on Equity (2.8%) is considered low.


Next Steps

Financial Health

How is Korian's financial position?


Financial Position Analysis

Short Term Liabilities: KORI's short term assets (€1.3B) do not cover its short term liabilities (€1.9B).

Long Term Liabilities: KORI's short term assets (€1.3B) do not cover its long term liabilities (€7.3B).


Debt to Equity History and Analysis

Debt Level: KORI's debt to equity ratio (140.5%) is considered high.

Reducing Debt: KORI's debt to equity ratio has increased from 67% to 140.5% over the past 5 years.

Debt Coverage: KORI's debt is not well covered by operating cash flow (19.1%).

Interest Coverage: KORI's interest payments on its debt are well covered by EBIT (3.2x coverage).


Balance Sheet


Next Steps

Dividend

What is Korian current dividend yield, its reliability and sustainability?

2.42%

Forecast Dividend Yield


Dividend Yield vs Market

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: KORI is not paying a notable dividend for the French market.


Future Payout to Shareholders

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


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.9yrs

Average management tenure


CEO

Sophie Boissard (50 yo)

4.58yrs

Tenure

€957,765

Compensation

Ms. Sophie Boissard has been the Chief Executive Officer at Korian SA since January 26, 2016 and its Director since June 22, 2020. Ms. Boissard serves as an Executive in Railway Operator SNCF. She serves a ...


CEO Compensation Analysis

Compensation vs Market: Sophie's total compensation ($USD1.13M) is below average for companies of similar size in the French market ($USD1.88M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Sophie Boissard
CEO & Director4.58yrs€957.77k0.021%
€ 562.0k
Philippe Garin
Chief Financial Officer2.33yrsno datano data
Philippe Lonné
Chief Information Officerno datano datano data
Sarah Mingham
Vice President of Investor Relations & Financingno datano datano data
Caroline de Jessey
Group Chief Communication Officer2.58yrsno datano data
Nathalie Lundqvist
Director of Group Strategyno datano datano data
Rémi Boyer
Group Chief Human Resources & CSR Officer3.92yrsno datano data
Bruno Marie
Chairman of the Medidep Management Board13.92yrsno datano data
Philippe Denormandie
Deputy Chief Executive Officerno data€59.22kno data
Claude Malhuret
Head of Ethical Development Departmentno datano datano data
Mariuccia Rossini
Chief Executive Officer of Italyno datano datano data
Bart Bots
Group Chief International Development Officerno datano datano data

3.9yrs

Average Tenure

53yo

Average Age

Experienced Management: KORI's management team is considered experienced (3.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Sophie Boissard
CEO & Director4.58yrs€957.77k0.021%
€ 562.0k
Jean-Pierre Duprieu
Independent Director4.17yrs€60.26k0.0020%
€ 53.2k
Guy de Panafieu
Board Observer3.17yrs€10.75k0.0018%
€ 49.0k
Catherine Soubie
Independent Director6.42yrs€58.74k0.0083%
€ 221.4k
Anne Lalou
Independent Director6.42yrs€45.46k0.0014%
€ 37.8k
Alexandre Gagnon-Kugler
Director2yrs€25.13kno data
Francoise Jacqueline Debrus
Director6.42yrsno datano data
Jean-Francois Brin
Director1.17yrs€40.41k0.00024%
€ 6.4k
Christian Chautard
Chairman5.42yrs€345.00k0.0015%
€ 39.6k
Markus Muschenich
Independent Director3.17yrs€51.60k0.000090%
€ 2.4k
Hafida Cola
Employee Representative Director4.58yrs€10.28kno data
Anne Ramon
Director1.67yrs€26.59kno data

3.7yrs

Average Tenure

56.5yo

Average Age

Experienced Board: KORI's board of directors are considered experienced (3.7 years average tenure).


Ownership

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.


Ownership Breakdown

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


Top Shareholders

Company Information

Korian's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Korian
  • Ticker: KORI
  • Exchange: ENXTPA
  • Founded: 2001
  • Industry: Health Care Facilities
  • Sector: Healthcare
  • Market Cap: €2.661b
  • Shares outstanding: 82.90m
  • Website: https://www.korian.com/fr

Number of Employees


Location

  • Korian
  • 21-25 rue Balzac
  • Paris
  • Ile-de-France
  • 75008
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KORIENXTPA (Euronext Paris)YesCommon StockFREURNov 2006
KO2DB (Deutsche Boerse AG)YesCommon StockDEEURNov 2006
0OPSLSE (London Stock Exchange)YesCommon StockGBEURNov 2006
KORIPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURNov 2006

Biography

Korian provides integrated health and care services for the elderly in France, Germany, Belgium, Italy, Spain, and the Netherlands. The company operates long-term care nursing homes, specialized clinics, a ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/08/09 21:48
End of Day Share Price2020/08/07 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.