ENXTPA:KORI

Stock Analysis Report

Executive Summary

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

Snowflake

Fundamentals

Good value with reasonable growth potential and pays a dividend.


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


Market Performance


7 Day Return

-1.5%

KORI

-3.6%

FR Healthcare

-0.9%

FR Market


1 Year Return

10.7%

KORI

2.9%

FR Healthcare

12.5%

FR Market

Return vs Industry: KORI exceeded the French Healthcare industry which returned 2.9% over the past year.

Return vs Market: KORI exceeded the French Market which returned 12.5% over the past year.


Shareholder returns

KORIIndustryMarket
7 Day-1.5%-3.6%-0.9%
30 Day2.9%-1.4%-0.8%
90 Day9.6%0.5%-0.5%
1 Year12.6%10.7%5.4%2.9%16.3%12.5%
3 Year43.8%35.9%45.3%39.1%43.1%29.1%
5 Year48.8%34.7%91.5%71.9%71.4%45.4%

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 (€37.92) is trading below our estimate of fair value (€81.47)

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


Price To Earnings Ratio

PE vs Industry: KORI is good value based on its PE Ratio (26x) compared to the Healthcare industry average (30.3x).

PE vs Market: KORI is poor value based on its PE Ratio (26x) compared to the French market (17.3x).


Price to Earnings Growth Ratio

PEG Ratio: KORI is poor value based on its PEG Ratio (1.4x)


Price to Book Ratio

PB vs Industry: KORI is good value based on its PB Ratio (1.3x) compared to the FR Healthcare industry average (2.6x).


Next Steps

Future Growth

How is Korian forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

18.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KORI's forecast earnings growth (18.6% per year) is above the savings rate (0.7%).

Earnings vs Market: KORI's earnings (18.6% per year) are forecast to grow faster than the French market (11.4% per year).

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

Revenue vs Market: KORI's revenue (5.9% per year) is forecast to grow faster than the French market (4.4% per year).

High Growth Revenue: KORI's revenue (5.9% 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 (6.4%).


Next Steps

Past Performance

How has Korian performed over the past 5 years?

22.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: KORI's earnings have grown significantly by 22.6% 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 (-33.9%) over the past year, making it difficult to compare to the Healthcare industry average (-4.9%).


Return on Equity

High ROE: KORI's Return on Equity (4.9%) is considered low.


Return on Assets

ROA vs Industry: KORI's Return on Assets is below or equal to the Healthcare industry average last year.


Return on Capital Employed

ROCE Improving: KORI has improved its Return on Capital Employed over the past 3 years.


Next Steps

Financial Health

How is Korian's financial position?


Financial Position Analysis

Short Term Liabilities: KORI's short term assets (€895.1M) do not cover its short term liabilities (€1.7B)

Long Term Liabilities: KORI's short term assets (895.1M) do not cover its long term liabilities (6.5B)


Debt to Equity History and Analysis

Debt Level: KORI's debt to equity ratio (111.3%) is considered high

Reducing Debt: KORI's debt to equity ratio has increased from 64% to 111.3% over the past 5 years.

Debt Coverage: KORI's debt is well covered by operating cash flow (21.9%).

Interest Coverage: KORI's interest payments on its debt are well covered by EBIT (4.1x coverage).


Balance Sheet

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

Debt Coverage by Assets: KORI's debt is not covered by short term assets (assets are 0.3x debt).


Next Steps

Dividend

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

1.58%

Current Dividend Yield


Dividend Yield vs Market

company1.6%marketbottom25%1.5%markettop25%4.7%industryaverage1.8%forecastin3Years1.8%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: KORI's dividend (1.58%) is higher than the bottom 25% of dividend payers in the French market (1.55%).

High Dividend: KORI's dividend (1.58%) is low compared to the top 25% of dividend payers in the French market (4.71%).

Stable Dividend: KORI's dividends per share have been stable in the past 10 years.

Growing Dividend: KORI's dividend payments have not increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.1%), KORI's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KORI's dividends in 3 years are forecast to be well covered by earnings (38.9% payout ratio).


Next Steps

Management

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

3.1yrs

Average management tenure


CEO

Sophie Boissard (49yo)

3.8yrs

Tenure

€1,002,516

Compensation

Mrs. Sophie Boissard has been the Chief Executive Officer at Korian SA since January 26, 2016. Mrs. Boissard serves as an Executive in Railway Operator SNCF. She serves as Managing Director of SNCF Immobil ...


CEO Compensation Analysis

Compensation vs. Market: Sophie's total compensation ($USD1.12M) is about average for companies of similar size in the French market ($USD1.35M).

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


Management Age and Tenure

3.1yrs

Average Tenure

52yo

Average Age

Experienced Management: KORI's management team is considered experienced (3.1 years average tenure).


Board Age and Tenure

5.1yrs

Average Tenure

57.5yo

Average Age

Experienced Board: KORI's board of directors are considered experienced (5.1 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


Management Team

  • Bruno Marie (65yo)

    Chairman of the Medidep Management Board

    • Tenure: 13.1yrs
  • Rémi Boyer (52yo)

    Group Chief Human Resources & CSR Officer

    • Tenure: 3.1yrs
  • Sophie Boissard (49yo)

    Chief Executive Officer

    • Tenure: 3.8yrs
    • Compensation: €1.00m
  • Philippe Denormandie

    Deputy Chief Executive Officer

    • Tenure: 0yrs
    • Compensation: €59.22k
  • Claude Malhuret

    Head of Ethical Development Department

    • Tenure: 0yrs
  • Nathalie Lundqvist

    Director of Group Strategy

    • Tenure: 0yrs
  • Philippe Garin

    Chief Financial Officer

    • Tenure: 1.5yrs
  • Caroline de Jessey

    Group Chief Communication Officer

    • Tenure: 1.8yrs
  • Sarah Mingham

    Vice President of Investor Relations & Financing

    • Tenure: 0yrs
  • Philippe Lonné

    Chief Information Officer

    • Tenure: 0yrs

Board Members

  • Jean-Pierre Duprieu (67yo)

    Independent Director

    • Tenure: 3.3yrs
    • Compensation: €57.81k
  • Jérôme Grivet (57yo)

    Director

    • Tenure: 5.6yrs
    • Compensation: €26.32k
  • Guy de Panafieu (76yo)

    Board Observer

    • Tenure: 2.3yrs
    • Compensation: €25.00k
  • Catherine Soubie (54yo)

    Independent Director

    • Tenure: 5.6yrs
    • Compensation: €64.68k
  • Anne Lalou (56yo)

    Independent Director

    • Tenure: 5.6yrs
    • Compensation: €46.36k
  • Françoise Jacqueline Debrus (59yo)

    Director

    • Tenure: 5.6yrs
    • Compensation: €26.61k
  • Christian Chautard (71yo)

    Chairman

    • Tenure: 4.6yrs
    • Compensation: €345.00k
  • Jérôme Grivet (57yo)

    Director

    • Tenure: 5.6yrs
  • Markus Müschenich (58yo)

    Independent Director

    • Tenure: 2.3yrs
    • Compensation: €56.97k
  • Hafida Cola (49yo)

    Employee Representative Director

    • Tenure: 3.8yrs
    • Compensation: €11.55k

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: €3.136b
  • Shares outstanding: 82.70m
  • 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 Analysis2019/10/23 21:01
End of Day Share Price2019/10/23 00:00
Earnings2019/06/30
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.