COFACE
COFACE SA, through its subsidiaries, provides credit insurance products and related services for small and medium enterprises, mid-market companies, multi-nationals, financial institutions, and clients of distributer partners. The last earnings update was 55 days ago. More info.
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COFA Share Price and Events
7 Day Returns
1 Year Returns
COFA Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| COFACE (COFA) | -2% | -4.4% | 10.1% | -6.9% | 26.8% | - |
| FR Insurance | 1.4% | 1.6% | 1.2% | 7.7% | 18.5% | 31.7% |
| FR Market | 1.5% | 1.1% | 2.3% | 1.7% | 32.4% | 31.2% |
1 Year Return vs Industry and Market
- COFA underperformed the Insurance industry which returned 7.7% over the past year.
- COFA underperformed the Market in France which returned 1.7% over the past year.
Value
Is COFACE undervalued based on future cash flows and its price relative to the stock market?
Value is all about what a company is worth versus what price it is
available for. If you went into a grocery store and all the bananas were on sale
at half price, they could be considered
undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current
share
price of
COFACE
to its discounted cash flow analysis.value.The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Below are the data sources, inputs and calculation used to determine the intrinsic value for COFACE.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | Excess Returns Model | |
| Stable EPS |
Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity = €12.83 * 7% |
€0.90 |
| Book Value of Equity per Share | Weighted future Book Value estimates from 3 analysts. | €12.83 |
| Discount Rate (Cost of Equity) | See below | 10.5% |
| Perpetual Growth Rate | 10-Year FR Government Bond Rate | 0.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year FR Govt Bond Rate | 0.7% |
| Equity Risk Premium | S&P Global | 6.7% |
| Insurance Unlevered Beta | Simply Wall St/ S&P Global | 0.69 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.69 (1 + (1- 33%) (219.57%)) |
1.473 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.47 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (1.473 * 6.65%) |
10.53% |
Discounted Cash Flow Calculation for ENXTPA:COFA using Excess Returns Model Model
The calculations below outline how an intrinsic value for COFACE is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.
In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.
The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.
Note the calculations below are per share.
See our documentation to learn about this calculation.
| Calculation | Result | |
|---|---|---|
| Excess Returns |
= (Stable Return on equity – Cost of equity) (Book Value of
Equity per share)
= (7% – 10.53%) * €12.83) |
€-0.45 |
| Terminal Value of Excess Returns |
= Excess Returns / (Cost of Equity -
Expected Growth Rate)
= €-0.45 / (10.53% - 0.73%) |
€-4.62 |
| Value of Equity |
= Book Value per share + Terminal Value of
Excess Returns
= €12.83 + €-4.62 |
€8.21 |
| Calculation | Result | |
|---|---|---|
| Value per share (EUR) | From above. | €8.21 |
| Current discount | Discount to share price of
€8.70
= -1 x (€8.70 - €8.21) / €8.21 |
-5.9% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of COFACE is above its future cash flow value.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.The amount the stock market is willing to pay for COFACE's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
COFACE's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2019-03-31) in EUR | €0.79 |
| ENXTPA:COFA Share Price ** | ENXTPA (2019-06-19) in EUR | €8.7 |
| France Insurance Industry PE Ratio | Median Figure of 5 Publicly-Listed Insurance Companies | 25.44x |
| France Market PE Ratio | Median Figure of 423 Publicly-Listed Companies | 17.61x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of COFACE.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = ENXTPA:COFA Share Price ÷ EPS (both in EUR) = 8.7 ÷ 0.79 |
10.95x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- COFACE is good value based on earnings compared to the FR Insurance industry average.
- COFACE is good value based on earnings compared to the France market.
Price based on expected Growth
Does
COFACE's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 10.95x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts |
3.3%per year |
| France Insurance Industry PEG Ratio | Median Figure of 5 Publicly-Listed Insurance Companies | 2.65x |
| France Market PEG Ratio | Median Figure of 268 Publicly-Listed Companies | 1.53x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 10.95x ÷ 3.3% |
3.35x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- COFACE is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on
COFACE's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2019-03-31) in EUR | €11.94 |
| ENXTPA:COFA Share Price * | ENXTPA (2019-06-19) in EUR | €8.7 |
| France Insurance Industry PB Ratio | Median Figure of 5 Publicly-Listed Insurance Companies | 0.88x |
| France Market PB Ratio | Median Figure of 623 Publicly-Listed Companies | 1.46x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = ENXTPA:COFA Share Price ÷ Book Value per Share (both in EUR) = 8.7 ÷ 11.94 |
0.73x |
* Primary Listing of COFACE.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- COFACE is good value based on assets compared to the FR Insurance industry average.
Value checks
We assess COFACE's value by looking at:- Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
- Is the PE ratio less than the market average, and/ or less than the Insurance industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Insurance industry average (and greater than 0)? (1 check) COFACE has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.
Full details on the Value part of the Simply Wall St company analysis model.
Future Performance
How is COFACE expected to perform in the next 1 to 3 years based on estimates from 5 analysts?
The future performance of a company is measured in the same way as past
performance, by looking at estimated
growth
and how much profit it is expected to make.Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Earnings growth vs Low Risk Savings
- COFACE's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
- COFACE's earnings growth is positive but not above the France market average.
- COFACE's revenue growth is positive but not above the France market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| ENXTPA:COFA Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts | 3.3% |
| ENXTPA:COFA Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts | 1.7% |
| France Insurance Industry Earnings Growth Rate | Market Cap Weighted Average | 20.8% |
| France Insurance Industry Revenue Growth Rate | Market Cap Weighted Average | -0.1% |
| France Market Earnings Growth Rate | Market Cap Weighted Average | 12.9% |
| France Market Revenue Growth Rate | Market Cap Weighted Average | 4.9% |
*Line of best fit is calculated by linear regression .
Industry and Market average data is calculated daily.
Learn more about our growth rate calculations in Simply Wall St’s analysis model.
Analysts growth expectations
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-12-31 | 1,491 | 133 | 1 | |
| 2021-12-31 | 1,521 | 133 | 3 | |
| 2020-12-31 | 1,483 | 126 | 3 | |
| 2019-12-31 | 1,439 | 122 | 3 |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2019-03-31 | 1,442 | 111 | 123 |
| 2018-12-31 | 1,424 | 125 | 122 |
| 2018-09-30 | 1,408 | 277 | 126 |
| 2018-06-30 | 1,384 | 163 | 126 |
| 2018-03-31 | 1,392 | 175 | 111 |
| 2018-01-01 | 1,402 | 211 | 83 |
| 2017-09-30 | 1,402 | 225 | 82 |
| 2017-06-30 | 1,435 | 243 | 36 |
| 2017-03-31 | 1,437 | 233 | 27 |
| 2016-12-31 | 1,450 | 133 | 42 |
| 2016-09-30 | 1,515 | 101 | 42 |
| 2016-06-30 | 1,486 | 134 | 86 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
All data from COFACE Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2022-12-31 | 0.90 | 0.90 | 0.90 | 1.00 |
| 2021-12-31 | 0.92 | 1.03 | 0.86 | 5.00 |
| 2020-12-31 | 0.86 | 0.97 | 0.80 | 5.00 |
| 2019-12-31 | 0.82 | 0.90 | 0.78 | 5.00 |
| Date (Data in EUR Millions) | EPS * |
|---|---|
| 2019-03-31 | |
| 2018-12-31 | 0.79 |
| 2018-09-30 | |
| 2018-06-30 | 0.81 |
| 2018-03-31 | |
| 2018-01-01 | 0.53 |
| 2017-09-30 | |
| 2017-06-30 | 0.23 |
| 2017-03-31 | |
| 2016-12-31 | 0.26 |
| 2016-09-30 | 0.27 |
| 2016-06-30 | 0.55 |
*GAAP earnings excluding extraordinary items.
Future performance checks
We assess COFACE's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the France market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
COFACE has a total score of 1/6, see the detailed checks below.
Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.
Full details on the Future part of the Simply Wall St company analysis model.
Past Performance
How has COFACE performed over the past 5 years?
The past performance of a company can be measured by how much
growth
it has experienced and how much profit it makes relative to the funds and assets
it has available.
Past earnings growth
Past Earnings growth analysis
- COFACE's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
- COFACE's 1-year earnings growth exceeds its 5-year average (10.5% vs -5.8%)
- COFACE's earnings growth has exceeded the FR Insurance industry average in the past year (10.5% vs -8%).
Earnings and Revenue History
All data from COFACE Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2019-03-31 | 1,441.98 | 123.16 | 246.68 | |
| 2018-12-31 | 1,423.69 | 122.33 | 241.14 | |
| 2018-09-30 | 1,407.72 | 126.47 | 261.24 | |
| 2018-06-30 | 1,384.34 | 125.83 | 248.23 | |
| 2018-03-31 | 1,391.75 | 111.44 | 249.62 | |
| 2018-01-01 | 1,402.18 | 83.21 | 253.53 | |
| 2017-09-30 | 1,402.19 | 82.13 | 257.48 | |
| 2017-06-30 | 1,434.60 | 36.12 | 266.92 | |
| 2017-03-31 | 1,436.90 | 26.54 | 274.03 | |
| 2016-12-31 | 1,449.95 | 41.53 | 275.10 | |
| 2016-09-30 | 1,514.97 | 42.35 | 275.24 | |
| 2016-06-30 | 1,486.20 | 85.72 | 274.84 | |
| 2016-03-31 | 1,515.27 | 108.23 | 272.32 | |
| 2015-12-31 | 1,540.21 | 126.24 | 269.96 | |
| 2015-09-30 | 1,512.70 | 120.47 | 277.51 | |
| 2015-06-30 | 1,527.42 | 122.10 | 274.85 | |
| 2015-03-31 | 1,504.18 | 129.13 | 270.72 | |
| 2014-12-31 | 1,482.53 | 125.03 | 269.12 | |
| 2014-09-30 | 1,476.80 | 132.28 | 259.93 | |
| 2014-06-30 | 1,477.36 | 128.61 | 258.70 | |
| 2014-03-31 | 1,506.17 | 133.96 | 253.52 | |
| 2013-12-31 | 1,508.23 | 127.44 | 255.55 | |
| 2012-12-31 | 1,524.01 | 129.23 | 218.10 |
*GAAP earnings excluding extraordinary items.
Performance last year
We want to ensure a company is making the most of what it has available. This is
done by comparing the return (profit) to a company's available
funds,
assets
and
capital.
- COFACE has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- COFACE used its assets more efficiently than the FR Insurance industry average last year based on Return on Assets.
- COFACE's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess COFACE's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Insurance industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
COFACE has a total score of 3/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
Full details on the Past part of the Simply Wall St company analysis model.
Health
How is COFACE's financial health and their level of debt?
A company's financial position is much like your own financial position,
it includes everything you own
(assets)
and owe
(liabilities).The boxes below represent the relative size of what makes up COFACE's finances.
The net worth of a company is the difference between its assets and liabilities.
- COFACE is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
- COFACE's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is covered by short term assets, assets are 1.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t
bad,
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
All data from COFACE Company Filings, last reported 2 months ago.
| Date (Data in EUR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2019-03-31 | 1,881.91 | 2,878.65 | 315.30 |
| 2018-12-31 | 1,806.40 | 2,933.45 | 311.95 |
| 2018-09-30 | 1,804.72 | 2,928.93 | 463.80 |
| 2018-06-30 | 1,791.16 | 3,006.49 | 328.54 |
| 2018-03-31 | 1,817.86 | 2,787.06 | 300.64 |
| 2018-01-01 | 1,802.58 | 2,915.95 | 294.44 |
| 2017-09-30 | 1,784.62 | 2,975.42 | 314.52 |
| 2017-06-30 | 1,749.49 | 2,891.32 | 302.05 |
| 2017-03-31 | 1,770.56 | 2,972.30 | 286.69 |
| 2016-12-31 | 1,760.67 | 2,799.74 | 401.77 |
| 2016-09-30 | 1,740.56 | 2,686.54 | 392.55 |
| 2016-06-30 | 1,740.43 | 2,760.40 | 431.78 |
| 2016-03-31 | 1,797.76 | 2,690.66 | 446.36 |
| 2015-12-31 | 1,767.03 | 2,762.26 | 452.31 |
| 2015-09-30 | 1,721.84 | 2,710.56 | 501.91 |
| 2015-06-30 | 1,726.78 | 2,725.35 | 492.12 |
| 2015-03-31 | 1,819.45 | 2,719.48 | 390.91 |
| 2014-12-31 | 1,724.53 | 2,612.91 | 309.49 |
| 2014-09-30 | 1,709.55 | 2,572.74 | 380.35 |
| 2014-06-30 | 1,667.02 | 2,482.51 | 375.59 |
| 2014-03-31 | 1,841.44 | 2,427.21 | 716.25 |
| 2013-12-31 | 1,793.33 | 2,124.43 | 326.19 |
| 2012-12-31 | 1,776.24 | 2,094.40 | 360.96 |
- COFACE's level of debt (153%) compared to net worth is high (greater than 40%).
- The level of debt compared to net worth has increased over the past 5 years (132% vs 153% today).
- Debt is not well covered by operating cash flow (3.8%, less than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 10.5x coverage).
Financial health checks
We assess COFACE's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) COFACE has a total score of 3/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
Full details on the Health part of the Simply Wall St company analysis model.
Dividends
What is COFACE's current dividend yield, its reliability and sustainability?
Dividends are regular cash payments to you from the company, similar to a
bank paying you interest on a savings account.
Annual Dividend Income
If you bought
€2,000 of
COFACE
shares you are expected to receive
€182
in your first year as a dividend.
Dividend Amount
- COFACE's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.55%).
- COFACE's dividend is above the markets top 25% of dividend payers in France (4.38%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not
wildly increasing/decreasing each year. This graph shows you the historical rate
to count toward your assessment of the stock.We also check to see if the dividend has increased in the past 10 years.
| Data Point | Source | Value |
|---|---|---|
| Past Annualized Dividend Yield | S&P Global Market Data | See Below |
| Past Dividends per Share | Company Filings/ Annualized Dividend Payments | See Below |
| Future Dividends per Share Estimates | Average of up to 5 Analyst Estimates (S&P Global) | See Below |
| France Insurance Industry Average Dividend Yield | Market Cap Weighted Average of 5 Stocks | 5.4% |
| France Market Average Dividend Yield | Market Cap Weighted Average of 322 Stocks | 3% |
| France Minimum Threshold Dividend Yield | 10th Percentile | 1% |
| France Bottom 25% Dividend Yield | 25th Percentile | 1.5% |
| France Top 25% Dividend Yield | 75th Percentile | 4.4% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in €) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2022-12-31 | 0.60 | 1.00 |
| 2021-12-31 | 0.62 | 5.00 |
| 2020-12-31 | 0.59 | 5.00 |
| 2019-12-31 | 0.55 | 5.00 |
| Date (Data in €) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-28 | 0.790 | 9.092 |
| 2018-04-16 | 0.340 | 4.059 |
| 2018-02-12 | 0.340 | 3.562 |
| 2017-05-17 | 0.130 | 1.515 |
| 2016-02-09 | 0.480 | 7.793 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- COFACE has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
- Dividend payments have increased, but COFACE only paid a dividend in the past 3 years.
Income/ dividend checks
We assess COFACE's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can COFACE afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) COFACE has a total score of 3/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
Management
CEO
| COMPENSATION | €2,091,377 |
| AGE | 54 |
| TENURE AS CEO | 3.3 years |
CEO Bio
Mr. Xavier Pascal Durand has been Chief Executive Officer of Coface SA since February 9, 2016 and serves as its General Manager. Mr. Durand has been Chief Executive Officer of the Insurance Group Coface since February 2016. Mr. Durand served as the Head of Strategy & Growth and Vice President of GE at General Electric Capital Corporation. He served as the Head of Strategy & Development at GE Capital International from 2013 to 2015. Mr. Durand served as the Chief Executive Officer of GE Capital Asia Pacific since 2011 until 2013 and also served as its President of Asia Pacific. He served as Chief Executive Officer of the Europe and Russia banking activities of GE Capital from 2005 to 2011; President and Chief Executive Officer of GE Money France from 2000 to 2005 and Head of Strategy and New Partnerships of GEC Auto Financial Services based in Chicago from 1996 to 2000. Mr. Durand served as the President and Chief Executive Officer for GE Capital Global Banking in Western Europe, Latvia & Russia since January 2010. He served as the President and Chief Executive Officer of GE Capital Global Banking Western Europe from January 2008 to December 2009 and GE Money South West Europe from May 2005 to January 2008. He held the position of Chief Executive Officer for GE Money France and DOMS and held various commercial leadership roles in both GE Money Europe and the Americas. He held a variety of positions in strategy consulting, insurance and financial services industries with different companies. He joined GE Consumer Finance in 1996. He joined GE Capital, where he led an international career, first in Chicago as Director of Strategy and Growth of the finance division of the Global Auto business. He started his career in 1987 in consultancy Xavier Durand a The Mac Group (Gemini Consulting) and Strategy Project Management (GMF Insurer 1991-1993) before joining Banque Sovac Immobilier in 1994 as deputy Chief Executive Officer. Mr. Durand served as Deputy General Manager of the Sovac Real Estate Bank in France from 1994 to 1996. He served as Chairman at GE Capital Asia Pacific. He served as Chairman of the Supervisory Council at GE Money Bank CJSC since April 2010. He served as Chairman and Member of the Council at GE Capital Latvia, AS (formerly, AS GE Money Bank) from December 28, 2010 to April 1, 2011. He served as Chairman of the Supervisory Board of GE Artesia Bank in the Netherlands. He serves as a Member of Supervisory Board at Banque Artesia Nederland N.V. He serves as an Independent Board Member at Wizink Bank (Banco Popular Et Varde) and AXA France. He has been Independent Director at ALD S.A. since June 16, 2017. He served as a Board Member at Krungsri Group and Hyundai Capital Cards. He served as a Non-Executive Director of Bank of Ayudhya Public Company Limited from February 2, 2012 to June 24, 2013. He served as a Director of Turkiye Garanti Bankasi AS since April 2, 2009. Mr. Durand holds ME degree from both the Ecole Polytechnique in 1986 and of Ecole Nationale des Ponts et Chaussées in Paris, France in 1988.
CEO Compensation
- Xavier's compensation has been consistent with company performance over the past year, both up more than 20%.
- Xavier's remuneration is higher than average for companies of similar size in France.
Management Team Tenure
Average tenure and age of the COFACE management team in years:
- The tenure for the COFACE management team is about average.
Management Team
Xavier Durand
CEO & GM
€2M
54
3.3 yrs
Carine Pichon
Chief Financial & Risk Officer
45
6.4 yrs
Keyvan Shamsa
Business Technology Director
56
0.6 yrs
Thomas Jacquet
Head of Group Financial Communication and Group IR & Rating Agencies Director
2.8 yrs
Franck Marzilli
Group Compliance Director
2.5 yrs
Monica Coull
Communications Director
Pierre Bevierre
Chief Human Resources Officer
Antonio Marchitelli
Chief Executive Officer of Western Europe Region
2.2 yrs
Katarzyna Kompowska
Chief Executive Officer of Northern Europe Region
1.7 yrs
Nicolas Andriopoulos
Managing Director of Coface Re
2.8 yrs
Board of Directors Tenure
Average tenure and age of the COFACE board of directors in years:
- The tenure for the COFACE board of directors is about average.
Board of Directors
François Riahi
Chairman of the Board
€1M
45
1 yrs
Michael Ferrante
Chairman & CEO of Coface Holding North America & Director of Coface Holding North America
Eric Hémar
Independent Director
€51K
54
4.9 yrs
Olivier Zarrouati
Independent Director
€40K
59
4.9 yrs
Daniel Karyotis
Non-Independent Director
€22K
57
2.3 yrs
Jean Arondel
Director
€24K
68
6.6 yrs
Jean-Paul Dumortier
Non-Independent Director
€33K
70
5.9 yrs
Sharon MacBeath
Independent Director
€29K
49
4.9 yrs
Isabelle Rodney
Non-Independent Director
€31K
52
2.6 yrs
Anne Sallé-Mongauze
Non-Independent Director
52
2.6 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess COFACE's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) COFACE has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.
Note: We use the top 6 management executives and board members in our calculations.
Note 2: Insider trading include any internal stakeholders and these transactions .
Full details on the Management part of the Simply Wall St company analysis model.
News
Simply Wall St News
COFACE SA (EPA:COFA): Should The Future Outlook Worry You?
However, this is still an improvement on its past 5-year earnings growth rate of -5.8%, on average. … To get an idea of the overall earnings growth trend for COFA, I’ve plotted out each year’s earnings expectations and inserted a line of best fit to determine an annual rate of growth from the slope of this line. … ENXTPA:COFA Past and Future Earnings, June 13th 2019 From the current net income level of €122m and the final forecast of €132m by 2022, the annual rate of growth for COFA’s earnings is 3.3%.
Simply Wall St - – Full articleShould You Worry About COFACE SA's (EPA:COFA) CEO Pay Cheque?
Check out our latest analysis for COFACE How Does Xavier Durand's Compensation Compare With Similar Sized Companies? … Boasting a total shareholder return of 43% over three years, COFACE SA has done well by shareholders. … We compared the total CEO remuneration paid by COFACE SA, and compared it to remuneration at a group of similar sized companies.
Simply Wall St - – Full articleIs COFACE SA's (EPA:COFA) P/E Ratio Really That Good?
The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll look at COFACE SA's (EPA:COFA) P/E ratio and reflect on what it tells us about the company's share price. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleCould The COFACE SA (EPA:COFA) Ownership Structure Tell Us Something Useful?
If you want to know who really controls COFACE SA (EPA:COFA), then you'll have to look at the makeup of its share registry. … Taking a look at our data on the ownership groups (below), it's seems that. … We can zoom in on the different ownership groups, to learn more about COFA
Simply Wall St - – Full articleIntroducing COFACE (EPA:COFA), A Stock That Climbed 17% In The Last Three Years
Unfortunately for shareholders, while the COFACE SA (EPA:COFA) share price is up 17% in the last three years, that falls short of the market return. … During the three years of share price growth, COFACE actually saw its earnings per share (EPS) drop 0.4% per year. … Companies are not always focussed on EPS growth in the short term, and looking at how the share price has reacted, we don't think EPS is the most important metric for COFACE at the moment.
Simply Wall St - – Full articleHow Does COFACE SA (EPA:COFA) Fare As A Dividend Stock?
Dividends can be underrated but they form a large part of investment returns, playing an important role in compounding returns in the long run. … In the last few years COFACE SA (EPA:COFA) has paid a dividend to shareholders. … Let's dig deeper into whether COFACE should have a place in your portfolio.
Simply Wall St - – Full articleHow Much Did COFACE SA's (EPA:COFA) CEO Pocket Last Year?
First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Xavier Durand's Compensation Compare With Similar Sized Companies. … According to our data, COFACE SA has a market capitalization of €1.2b, and pays its CEO total annual compensation worth €1.8m.
Simply Wall St - – Full articleCOFACE SA (EPA:COFA): Set To Experience A Decrease In Earnings?
Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … Since COFACE SA (EPA:COFA) released its earnings in September 2018,
Simply Wall St - – Full articleIs COFACE SA's (EPA:COFA) P/E Ratio Really That Good?
The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … We'll show how you can use COFACE SA's (EPA:COFA) P/E ratio to inform your assessment of the investment opportunity. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)
Simply Wall St - – Full articleWhat Kind Of Shareholders Own COFACE SA (EPA:COFA)?
Institutions often own shares in more established companies, while it's not unusual to see insiders own a fair bit of smaller companies. … Companies that have been privatized tend to have low insider ownership. … institutions own shares in the company.
Simply Wall St - – Full articleCompany Info
Description
COFACE SA, through its subsidiaries, provides credit insurance products and related services for small and medium enterprises, mid-market companies, multi-nationals, financial institutions, and clients of distributer partners. It offers credit insurance products to protect companies against potential non-payment by their customers. The company also provides factoring, business information, and debt collection services, as well as contract, and customs and excise bonds. It operates in Western Europe, Northern Europe, Central Europe, the Mediterranean and Africa, North America, Latin America, and the Asia-Pacific. COFACE SA has a strategic partnership with Tradeshift. The company was founded in 1946 and is headquartered in Bois-Colombes, France.
Details
| Name: | COFACE SA |
| COFA | |
| Exchange: | ENXTPA |
| Founded: | 1946 |
| €1,311,012,240 | |
| 150,777,716 | |
| Website: | http://www.coface.com |
| Address: |
COFACE SA 1, place Costes et Bellonte, Bois-Colombes, Ile-de-France, 92270, France |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| ENXTPA | COFA | Ordinary Shares | Euronext Paris | FR | EUR | 27. Jun 2014 | |
| DB | 65C | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 27. Jun 2014 | |
| LSE | 0QVK | Ordinary Shares | London Stock Exchange | GB | EUR | 27. Jun 2014 | |
| BATS-CHIXE | COFAP | Ordinary Shares | BATS 'Chi-X Europe' | GB | EUR | 27. Jun 2014 |
Number of employees
Current staff
Industry
| Property and Casualty Insurance | |
| Insurance |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/06/19 22:10 |
| End of day share price update: | 2019/06/19 00:00 |
| Last estimates confirmation: | 2019/06/06 |
| Last earnings filing: | 2019/04/25 |
| Last earnings reported: | 2019/03/31 |
| Last annual earnings reported: | 2018/12/31 |
All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.
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.
