COFACE
Market Cap
€882.7m
Last Updated
2020/03/31 23:53 UTC
Data Sources
Company Financials +
Executive Summary
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.
Rewards
Risk Analysis
Snowflake Analysis
Undervalued with solid track record and pays a dividend.
Similar Companies
Share Price & News
How has COFACE's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: COFA's share price has been volatile over the past 3 months.
Market Performance
7 Day Return
7.7%
COFA
-0.1%
FR Insurance
2.5%
FR Market
1 Year Return
-28.1%
COFA
-36.8%
FR Insurance
-18.6%
FR Market
Return vs Industry: COFA exceeded the French Insurance industry which returned -36.8% over the past year.
Return vs Market: COFA underperformed the French Market which returned -18.6% over the past year.
Shareholder returns
| COFA | Industry | Market | |
|---|---|---|---|
| 7 Day | 7.7% | -0.1% | 2.5% |
| 30 Day | -41.1% | -27.6% | -17.0% |
| 90 Day | -46.7% | -39.6% | -25.0% |
| 1 Year | -21.3%-28.1% | -33.3%-36.8% | -15.7%-18.6% |
| 3 Year | -4.0%-16.8% | -26.4%-36.7% | 0.8%-8.6% |
| 5 Year | -33.4%-48.6% | -18.3%-36.2% | 10.8%-6.9% |
Price Volatility Vs. Market
How volatile is COFACE's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 weeks ago | Simply Wall St
What Is COFACE's (EPA:COFA) P/E Ratio After Its Share Price Tanked?1 month ago | Simply Wall St
Here's How P/E Ratios Can Help Us Understand COFACE SA (EPA:COFA)2 months ago | Simply Wall St
How Much Did COFACE SA's (EPA:COFA) CEO Pocket Last Year?Valuation
Is COFACE undervalued compared to its fair value and its price relative to the market?
45.4%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: COFA (€5.85) is trading below our estimate of fair value (€10.72)
Significantly Below Fair Value: COFA is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: COFA is good value based on its PE Ratio (6x) compared to the Insurance industry average (8.9x).
PE vs Market: COFA is good value based on its PE Ratio (6x) compared to the French market (13.2x).
Price to Earnings Growth Ratio
PEG Ratio: COFA is poor value based on its PEG Ratio (2.3x)
Price to Book Ratio
PB vs Industry: COFA is good value based on its PB Ratio (0.5x) compared to the FR Insurance industry average (0.5x).
Next Steps
Future Growth
How is COFACE forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?
2.7%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: COFA's forecast earnings growth (2.7% per year) is above the savings rate (-0.1%).
Earnings vs Market: COFA's earnings (2.7% per year) are forecast to grow slower than the French market (12.1% per year).
High Growth Earnings: COFA's earnings are forecast to grow, but not significantly.
Revenue vs Market: COFA's revenue (3.2% per year) is forecast to grow slower than the French market (3.5% per year).
High Growth Revenue: COFA's revenue (3.2% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: COFA's Return on Equity is forecast to be low in 3 years time (8.4%).
Next Steps
Past Performance
How has COFACE performed over the past 5 years?
5.3%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: COFA has high quality earnings.
Growing Profit Margin: COFA's current net profit margins (9.7%) are higher than last year (8.6%).
Past Earnings Growth Analysis
Earnings Trend: COFA's earnings have grown by 5.3% per year over the past 5 years.
Accelerating Growth: COFA's earnings growth over the past year (19.9%) exceeds its 5-year average (5.3% per year).
Earnings vs Industry: COFA earnings growth over the past year (19.9%) exceeded the Insurance industry 11.4%.
Return on Equity
High ROE: COFA's Return on Equity (7.6%) is considered low.
Next Steps
Financial Health
How is COFACE'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: COFA has a low level of unsold assets or inventory.
Debt Coverage by Assets: COFA's debt is covered by short term assets (assets are 1.4x debt).
Financial Institutions Analysis
Asset Level: COFA's level of assets compared to its equity is low.
Allowance for Bad Loans: Insufficient data to determine if COFA has a sufficient allowance for bad loans.
Low Risk Liabilities: COFA reports no customer deposits, loans are made up entirely of externally borrowed funds.
Loan Level: Insufficient data to determine if COFA has an acceptable proportion of non-loan assets held.
Low Risk Deposits: COFA has advanced significantly more loans than the customer deposits it holds.
Level of Bad Loans: Insufficient data to determine if COFA has an appropriate level of bad loans.
Next Steps
Dividend
What is COFACE's current dividend yield, its reliability and sustainability?
17.09%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: COFA's dividend (17.09%) is higher than the bottom 25% of dividend payers in the French market (2.07%).
High Dividend: COFA's dividend (17.09%) is in the top 25% of dividend payers in the French market (6.43%)
Stability and Growth of Payments
Stable Dividend: COFA has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: COFA's dividend payments have increased, but the company has only paid a dividend for 4 years.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (81.4%), COFA's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: COFA's dividends in 3 years are forecast to be covered by earnings (86.7% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
3.3yrs
Average management tenure
CEO
Xavier Durand (55yo)
4s
Tenure
€2,091,377
Compensation
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 si ...
CEO Compensation Analysis
Compensation vs Market: Xavier's total compensation ($USD2.31M) is above average for companies of similar size in the French market ($USD787.62K).
Compensation vs Earnings: Xavier's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| CEO & GM | 4yrs | €2.09m | no data | |
| Chief Financial & Risk Officer | 7.17yrs | no data | no data | |
| Business Technology Director | 1.25yrs | no data | no data | |
| Head of Group Financial Communication and Group IR & Rating Agencies Director | 3.42yrs | no data | no data | |
| Group Compliance Director | 3.25yrs | no data | no data | |
| Communications Director | no data | no data | no data | |
| Chief Human Resources Officer | no data | no data | no data | |
| Underwriting Director | no data | no data | no data | |
| Chief Executive Officer of Western Europe Region | 2.83yrs | no data | no data | |
| Chief Executive Officer of Northern Europe Region | 2.42yrs | no data | no data |
3.3yrs
Average Tenure
54yo
Average Age
Experienced Management: COFA's management team is considered experienced (3.3 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| Chairman & CEO of Coface Holding North America & Director of Coface Holding North America | no data | no data | no data | |
| Independent Director | 5.67yrs | €51.00k | 0.00059% €5.2k | |
| Independent Director | 5.67yrs | €40.00k | 0.00033% €2.9k | |
| Independent Director | 5.67yrs | €29.00k | 0.00033% €2.9k | |
| Non-Independent Director | 3yrs | €22.00k | 0.00066% €5.8k | |
| Chairman of the Board | 1.67yrs | €1.48m | 0.00033% €2.9k | |
| Director | 7.25yrs | €24.00k | 0.00066% €5.8k | |
| Non-Independent Director | 3.25yrs | no data | 0.00033% €2.9k | |
| Independent Director | 2.67yrs | €43.00k | 0.00060% €5.3k | |
| Non-Independent Director | 3.25yrs | €30.50k | 0.00033% €2.9k |
3.3yrs
Average Tenure
53yo
Average Age
Experienced Board: COFA's board of directors are considered experienced (3.3 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
COFACE SA's company bio, employee growth, exchange listings and data sources
Key Information
- Name: COFACE SA
- Ticker: COFA
- Exchange: ENXTPA
- Founded: 1946
- Industry: Property and Casualty Insurance
- Sector: Insurance
- Market Cap: €882.660m
- Shares outstanding: 150.88m
- Website: https://www.coface.com
Number of Employees
Location
- COFACE SA
- 1, place Costes et Bellonte
- Bois-Colombes
- Ile-de-France
- 92270
- France
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| COFA | ENXTPA (Euronext Paris) | Yes | Ordinary Shares | FR | EUR | Jun 2014 |
| COFAP | BATS-CHIXE (BATS 'Chi-X Europe') | Yes | Ordinary Shares | GB | EUR | Jun 2014 |
| 0QVK | LSE (London Stock Exchange) | Yes | Ordinary Shares | GB | EUR | Jun 2014 |
| 65C | DB (Deutsche Boerse AG) | Yes | Ordinary Shares | DE | EUR | Jun 2014 |
Biography
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.
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2020/03/31 23:53 |
| End of Day Share Price | 2020/03/31 00:00 |
| Earnings | 2019/12/31 |
| Annual Earnings | 2019/12/31 |
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.