Buy Or Sell Opportunity • Jun 18
Now 22% overvalued Over the last 90 days, the stock has fallen 25% to €2.34. The fair value is estimated to be €1.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.1% over the last 3 years. Meanwhile, the company became loss making. Announcement • May 21
Jacques Bogart S.A., Annual General Meeting, Jun 25, 2026 Jacques Bogart S.A., Annual General Meeting, Jun 25, 2026. Location: 13 rue pierre leroux, paris France New Risk • May 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 20% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (20% operating cash flow to total debt). Earnings have declined by 37% per year over the past 5 years. Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (€41.8m market cap, or US$48.8m). New Risk • Apr 13
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks High level of debt (115% net debt to equity). Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.9% average weekly change). Market cap is less than US$100m (€43.9m market cap, or US$51.4m). New Risk • Apr 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of French stocks, typically moving 7.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 17% per year over the past 5 years. Minor Risks High level of debt (115% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.3% average weekly change). Market cap is less than US$100m (€38.4m market cap, or US$44.3m). Announcement • Feb 06
Jacques Bogart S.A. to Report Fiscal Year 2025 Results on Apr 28, 2026 Jacques Bogart S.A. announced that they will report fiscal year 2025 results After-Market on Apr 28, 2026 New Risk • Oct 06
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Earnings have declined by 16% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.8% average weekly change). Market cap is less than US$100m (€48.4m market cap, or US$56.6m). New Risk • Oct 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of French stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 16% per year over the past 5 years. Minor Risks High level of debt (41% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.7% average weekly change). Market cap is less than US$100m (€46.0m market cap, or US$54.0m). Upcoming Dividend • Jun 25
Upcoming dividend of €0.16 per share Eligible shareholders must have bought the stock before 02 July 2025. Payment date: 04 July 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 3.3%. Lower than top quartile of French dividend payers (5.4%). Higher than average of industry peers (2.4%). Declared Dividend • May 23
Dividend reduced to €0.16 Dividend of €0.16 is 20% lower than last year. Ex-date: 2nd July 2025 Payment date: 4th July 2025 Dividend yield will be 3.2%, which is higher than the industry average of 1.9%. Sustainability & Growth Dividend is not covered by earnings (409% earnings payout ratio). However, it is well covered by cash flows (11% cash payout ratio). The dividend has increased by an average of 2.9% per year over the past 10 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 355% to bring the payout ratio under control. However, EPS has declined by 44% over the last 5 years so the company would need to reverse this trend. Announcement • May 22
Jacques Bogart S.A. announces Annual dividend, payable on July 04, 2025 Jacques Bogart S.A. announced Annual dividend of EUR 0.1600 per share payable on July 04, 2025, ex-date on July 02, 2025 and record date on July 03, 2025. Announcement • May 21
Jacques Bogart S.A., Annual General Meeting, Jun 26, 2025 Jacques Bogart S.A., Annual General Meeting, Jun 26, 2025. Location: 13 rue pierre leroux, paris France New Risk • May 02
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.2% Last year net profit margin: 2.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.3x net interest cover). Earnings have declined by 18% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.2% net profit margin). Market cap is less than US$100m (€73.0m market cap, or US$82.8m). New Risk • Apr 14
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 33% per year over the past 5 years. Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€74.8m market cap, or US$85.0m). New Risk • Dec 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of French stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.4x net interest cover). Earnings have declined by 33% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.5% average weekly change). Market cap is less than US$100m (€83.2m market cap, or US$86.7m). New Risk • Oct 01
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: €88.6m (US$98.1m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). Earnings have declined by 35% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (€88.6m market cap, or US$98.1m). New Risk • Sep 29
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.2x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.2x net interest cover). Earnings have declined by 35% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Sep 27
First half 2024 earnings released First half 2024 results: Revenue: €139.9m (up 1.4% from 1H 2023). Net loss: €5.20m (loss narrowed 28% from 1H 2023). Announcement • May 22
Jacques Bogart S.A., Annual General Meeting, Jun 27, 2024 Jacques Bogart S.A., Annual General Meeting, Jun 27, 2024. Location: 13 rue pierre leroux, paris France Reported Earnings • Apr 30
Full year 2023 earnings released: EPS: €0.26 (vs €0.71 loss in FY 2022) Full year 2023 results: EPS: €0.26 (up from €0.71 loss in FY 2022). Revenue: €307.9m (up 5.4% from FY 2022). Net income: €6.11m (up €16.5m from FY 2022). Profit margin: 2.0% (up from net loss in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. New Risk • Apr 15
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 75% per year over the past 5 years. Minor Risks High level of debt (68% net debt to equity). Latest financial reports are more than 6 months old (reported June 2023 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Oct 02
First half 2023 earnings released: €0.49 loss per share (vs €0.59 loss in 1H 2022) First half 2023 results: €0.49 loss per share (improved from €0.59 loss in 1H 2022). Revenue: €137.9m (up 4.9% from 1H 2022). Net loss: €7.25m (loss narrowed 17% from 1H 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. New Risk • Oct 01
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 67% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 75% per year over the past 5 years. Minor Risks High level of debt (67% net debt to equity). Paying a dividend despite being loss-making. Upcoming Dividend • Jun 28
Upcoming dividend of €0.18 per share at 2.4% yield Eligible shareholders must have bought the stock before 05 July 2023. Payment date: 07 July 2023. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.4%. Lower than top quartile of French dividend payers (5.2%). Higher than average of industry peers (2.0%). Reported Earnings • May 01
Full year 2022 earnings released Full year 2022 results: Revenue: €291.2m (up 18% from FY 2021). Net loss: €10.4m (down €11.2m from profit in FY 2021). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 2 highly experienced directors. No independent directors (5 non-independent directors). Director Michael Benhamou was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Sep 30
First half 2022 earnings released: EPS: €0 (vs €0.32 loss in 1H 2021) First half 2022 results: EPS: €0. Revenue: €136.9m (up 34% from 1H 2021). Net loss: €8.70m (loss widened 85% from 1H 2021). Upcoming Dividend • Jun 28
Upcoming dividend of €0.23 per share Eligible shareholders must have bought the stock before 05 July 2022. Payment date: 07 July 2022. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 2.3%. Lower than top quartile of French dividend payers (5.4%). In line with average of industry peers (2.2%). Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. No highly experienced directors. No independent directors (5 non-independent directors). Director Michael Benhamou was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Insufficient board refreshment. Reported Earnings • Sep 30
First half 2021 earnings released: €0.32 loss per share (vs €0.49 loss in 1H 2020) The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: €102.2m (up 7.2% from 1H 2020). Net loss: €4.70m (loss narrowed 37% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Upcoming Dividend • Jun 25
Upcoming dividend of €0.23 per share Eligible shareholders must have bought the stock before 02 July 2021. Payment date: 06 July 2021. Trailing yield: 1.9%. Lower than top quartile of French dividend payers (3.7%). In line with average of industry peers (1.9%). Reported Earnings • May 03
Full year 2020 earnings released The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: €223.5m (down 27% from FY 2019). Net income: €2.30m (down 77% from FY 2019). Profit margin: 1.0% (down from 3.3% in FY 2019). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Dec 31
New 90-day high: €10.50 The company is up 18% from its price of €8.90 on 02 October 2020. The French market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Personal Products industry, which is up 3.0% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: €9.36 The company is up 12% from its price of €8.38 on 02 September 2020. The French market is also up 12% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Personal Products industry, which is up 7.0% over the same period. Is New 90 Day High Low • Nov 04
New 90-day low: €7.72 The company is down 13% from its price of €8.88 on 05 August 2020. The French market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Personal Products industry, which is down 2.0% over the same period. Reported Earnings • Oct 01
First half earnings released Over the last 12 months the company has reported total profits of €428.0k, down 97% from the prior year. Total revenue was €260.5m over the last 12 months, up 6.0% from the prior year.