ENXTPA:CNP

Stock Analysis Report

Executive Summary

CNP Assurances SA provides personal insurance products in France, Latin America, and other European countries.

Snowflake

Fundamentals

6 star dividend payer and good value.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

6.0%

CNP

2.9%

FR Insurance

2.1%

FR Market


1 Year Return

-7.1%

CNP

1.5%

FR Insurance

10.2%

FR Market

Return vs Industry: CNP underperformed the French Insurance industry which returned 1.5% over the past year.

Return vs Market: CNP underperformed the French Market which returned 10.2% over the past year.


Shareholder returns

CNPIndustryMarket
7 Day6.0%2.9%2.1%
30 Day4.6%2.4%-0.7%
90 Day-9.9%-3.8%-0.7%
1 Year-3.0%-7.1%7.2%1.5%14.1%10.2%
3 Year37.6%21.1%38.9%19.4%44.6%30.6%
5 Year57.2%24.9%73.7%35.9%76.5%50.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

26.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: CNP (€18.15) is trading below our estimate of fair value (€24.72)

Significantly Undervalued: CNP is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: CNP is good value based on its PE Ratio (9.4x) compared to the Insurance industry average (19.8x).

PE vs Market: CNP is good value based on its PE Ratio (9.4x) compared to the French market (17.2x).


Price to Earnings Growth Ratio

Low PEG Ratio: CNP is poor value based on its PEG Ratio (2.2x)


Price to Book Ratio

PB vs Industry: CNP is good value based on its PB Ratio (0.7x) compared to the FR Insurance industry average (0.8x).


Next Steps

Future Growth

How is CNP Assurances forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?

4.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: CNP's forecast earnings growth (4.3% per year) is above the savings rate (0.7%).

Earnings vs Market: CNP's earnings (4.3% per year) are forecast to grow slower than the French market (11.5% per year).

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

Revenue vs Market: CNP's revenue is expected to decline over the next 3 years (-3% per year).

High Growth Revenue: CNP's revenue is forecast to decline over the next 3 years (-3%).


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: CNP's Return on Equity is forecast to be low in 3 years time (8.4%).


Next Steps

Past Performance

How has CNP Assurances performed over the past 5 years?

6.3%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: CNP's earnings have grown by 6.3% per year over the past 5 years.

Accelerating Growth: CNP's earnings growth over the past year (5.9%) is below its 5-year average (6.3% per year).

Earnings vs Industry: CNP earnings growth over the past year (5.9%) underperformed the Insurance industry 5.9%.


Return on Equity

High ROE: CNP's Return on Equity (8.2%) is considered low.


Return on Assets

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


Return on Capital Employed

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


Next Steps

Financial Health

How is CNP Assurances's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: CNP has a low level of unsold assets or inventory.

Debt Coverage by Assets: CNP's debt is covered by short term assets (assets are 6.350430x debt).


Financial Institutions Analysis

Asset Level: CNP's level of assets compared to its equity is very high.

Allowance for Bad Loans: Insufficient data to determine if CNP has a sufficient allowance for bad loans.

Low Risk Liabilities: CNP reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if CNP has an acceptable proportion of non-loan assets held.

Low Risk Deposits: CNP has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if CNP has an appropriate level of bad loans.


Next Steps

Dividend

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

4.90%

Current Dividend Yield


Dividend Yield vs Market

company4.9%marketbottom25%1.6%markettop25%4.7%industryaverage5.5%forecastin3Years5.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: CNP's dividend (4.9%) is higher than the bottom 25% of dividend payers in the French market (1.57%).

High Dividend: CNP's dividend (4.9%) is in the top 25% of dividend payers in the French market (4.67%)

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

Growing Dividend: CNP's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (46.1%), CNP's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: CNP's dividends in 3 years are forecast to be well covered by earnings (48.6% payout ratio).


Next Steps

Management

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

1.1yrs

Average management tenure


CEO

Antoine Lissowski (63yo)

1.1yrs

Tenure

€450,000

Compensation

Mr. Antoine Lissowski serves as Chief Executive Officer since November 2018 and served as its Chief Financial Officer since December 16, 2013. He served as Interim Chief Executive Officer at CNP Assurances ...


CEO Compensation Analysis

Compensation vs. Market: Antoine has recently become CEO, making it difficult to compare their total compensation against companies of similar size in the French market.

Compensation vs Earnings: Insufficient data to compare Antoine's compensation with company performance.


Management Age and Tenure

1.1yrs

Average Tenure

51.5yo

Average Age

Experienced Management: CNP's management team is not considered experienced ( 1.1 years average tenure), which suggests a new team.


Board Age and Tenure

7.3yrs

Average Tenure

61yo

Average Age

Experienced Board: CNP's board of directors are considered experienced (7.3 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

  • Antoine Lissowski (63yo)

    CEO & Member of Management Board

    • Tenure: 1.1yrs
    • Compensation: €450.00k
  • Xavier Larnaudie-Eiffel (61yo)

    Deputy CEO & Member of Executive Board

    • Tenure: 15.8yrs
    • Compensation: €571.98k
  • Yves Couturier

    Deputy CEO & Member of Executive Board

    • Tenure: 0yrs
  • Bérangère Grandjean (56yo)

    Human Resources Director & Member of Executive Board

    • Tenure: 0yrs
  • Martine Vareilles

    Head of La Banque Postale Partnership Business Unit & Member of Executive Board

    • Tenure: 0yrs
  • Thomas Béhar (47yo)

    Chief Financial Officer

    • Tenure: 0.8yrs
  • Marie Grison (47yo)

    Group Administrative Officer

    • Tenure: 0.8yrs
  • Vincent Damas

    Head of Relations - Investors

    • Tenure: 0yrs
  • Laurent Jumelle (38yo)

    Head of Latin America Business Unit & Member of Executive Board

    • Tenure: 2.2yrs
  • Olivier Guigné

    Investments Director

    • Tenure: 1.1yrs

Board Members

  • Jean-Yves Forel (58yo)

    Independent Director

    • Tenure: 6.8yrs
    • Compensation: €57.10k
  • Edmond Alphandéry (76yo)

    Honorary Chairman

    • Tenure: 0yrs
  • Philippe Wahl (63yo)

    Director

    • Tenure: 8.7yrs
    • Compensation: €29.65k
  • Marcia Campbell (60yo)

    • Tenure: 8.7yrs
    • Compensation: €60.15k
  • Rémy Weber (62yo)

    Director

    • Tenure: 5.9yrs
    • Compensation: €42.60k
  • Stéphane Pallez (60yo)

    Independent Director

    • Tenure: 8.5yrs
    • Compensation: €82.25k
  • Rose-Marie Van Lerberghe (72yo)

    • Tenure: 6.1yrs
    • Compensation: €40.30k
  • Olivier Mareuse (56yo)

    Director

    • Tenure: 6.5yrs
    • Compensation: €43.40k
  • Virginie Chapron du Jeu (58yo)

    Director

    • Tenure: 7.3yrs
    • Compensation: €34.20k
  • Jean-Paul Faugère (63yo)

    Independent Chairman of the Board

    • Tenure: 7.3yrs
    • Compensation: €280.00k

Company Information

CNP Assurances SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: CNP Assurances SA
  • Ticker: CNP
  • Exchange: ENXTPA
  • Founded: 1850
  • Industry: Life and Health Insurance
  • Sector: Insurance
  • Market Cap: €12.455b
  • Shares outstanding: 686.24m
  • Website: https://www.cnp.fr

Number of Employees


Location

  • CNP Assurances SA
  • 4, Place Raoul Dautry
  • Cedex 15
  • Paris
  • Ile-de-France
  • 75716
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CNPA.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDOct 1998
CNPENXTPA (Euronext Paris)YesOrdinary SharesFREUROct 1998
XNPDB (Deutsche Boerse AG)YesOrdinary SharesDEEUROct 1998
0IUQLSE (London Stock Exchange)YesOrdinary SharesGBEUROct 1998
CNPPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEUROct 1998
CNPA.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDNov 2008

Biography

CNP Assurances SA provides personal insurance products in France, Latin America, and other European countries. It offers life, accident, long term care, death and funeral, disability, unemployment, propert ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/15 20:34
End of Day Share Price2019/10/15 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.