ENXTPA:ETL

Stock Analysis Report

Eutelsat Communications

Executive Summary

Eutelsat Communications S.A., a private telecommunications satellite operator, engages in the design, establishment, operation, and maintenance of satellite telecommunications systems.

Snowflake

Fundamentals

6 star dividend payer with adequate balance sheet.


Similar Companies

Share Price & News

How has Eutelsat Communications's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

2.1%

ETL

1.8%

FR Media

-0.03%

FR Market


1 Year Return

-16.8%

ETL

-18.3%

FR Media

10.4%

FR Market

Return vs Industry: ETL exceeded the French Media industry which returned -18.3% over the past year.

Return vs Market: ETL underperformed the French Market which returned 10.4% over the past year.


Shareholder returns

ETLIndustryMarket
7 Day2.1%1.8%-0.03%
30 Day8.8%-7.5%-0.8%
90 Day6.5%-6.6%-0.8%
1 Year-10.7%-16.8%-14.6%-18.3%14.2%10.4%
3 Year25.7%3.4%-10.7%-19.8%42.3%28.5%
5 Year-5.8%-28.3%1.7%-14.0%72.6%46.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Eutelsat Communications undervalued compared to its fair value and its price relative to the market?

34.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ETL (€18.34) is trading below our estimate of fair value (€27.88)

Significantly Below Fair Value: ETL is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: ETL is good value based on its PE Ratio (12.5x) compared to the Media industry average (17.5x).

PE vs Market: ETL is good value based on its PE Ratio (12.5x) compared to the French market (17.2x).


Price to Earnings Growth Ratio

PEG Ratio: ETL is poor value based on its PEG Ratio (3.8x)


Price to Book Ratio

PB vs Industry: ETL is overvalued based on its PB Ratio (1.6x) compared to the FR Media industry average (1.3x).


Next Steps

Future Growth

How is Eutelsat Communications forecast to perform in the next 1 to 3 years based on estimates from 14 analysts?

3.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ETL's forecast earnings growth (3.3% per year) is above the savings rate (0.7%).

Earnings vs Market: ETL's earnings (3.3% per year) are forecast to grow slower than the French market (11.5% per year).

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

Revenue vs Market: ETL's revenue (0.8% per year) is forecast to grow slower than the French market (4.4% per year).

High Growth Revenue: ETL's revenue (0.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ETL's Return on Equity is forecast to be low in 3 years time (14.4%).


Next Steps

Past Performance

How has Eutelsat Communications performed over the past 5 years?

-2.0%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ETL's earnings have declined by -2% per year over the past 5 years.

Accelerating Growth: ETL's earnings growth over the past year (16.7%) exceeds its 5-year average (-2% per year).

Earnings vs Industry: ETL earnings growth over the past year (16.7%) exceeded the Media industry 13%.


Return on Equity

High ROE: ETL's Return on Equity (12.5%) is considered low.


Return on Assets

ROA vs Industry: ETL has a higher Return on Assets than the Media industry average last year.


Return on Capital Employed

ROCE Improving: ETL's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is Eutelsat Communications's financial position?


Financial Position Analysis

Short Term Liabilities: ETL's short term assets (€1.9B) exceeds its short term liabilities (€1.5B)

Long Term Liabilities: ETL's short term assets (1.9B) do not cover its long term liabilities (3.9B)


Debt to Equity History and Analysis

Debt Level: ETL's debt to equity ratio (134.6%) is considered high

Reducing Debt: ETL's debt to equity ratio has reduced from 190.6% to 134.6% over the past 5 years.

Debt Coverage: ETL's debt is well covered by operating cash flow (22%).

Interest Coverage: ETL's interest payments on its debt are well covered by EBIT (5.9x coverage).


Balance Sheet

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

Debt Coverage by Assets: ETL's debt is not covered by short term assets (assets are 0.5x debt).


Next Steps

Dividend

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

6.93%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Eutelsat Communications before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company6.9%marketbottom25%1.5%markettop25%4.7%industryaverage4.9%forecastin3Years7.4%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: ETL's dividend (6.93%) is higher than the bottom 25% of dividend payers in the French market (1.54%).

High Dividend: ETL's dividend (6.93%) is in the top 25% of dividend payers in the French market (4.72%)

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

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


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (86.7%), ETL's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: ETL's dividends in 3 years are forecast to be covered by earnings (85.3% payout ratio).


Next Steps

Management

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

3.6yrs

Average management tenure


CEO

Rodolphe Belmer (50yo)

3.6yrs

Tenure

€2,128,681

Compensation

Mr. Rodolphe Belmer has been the Chief Executive Officer of Eutelsat Communications S.A. and Eutelsat S.A. since March 1, 2016. Mr. Belmer serves as the Chief Operating Officer and Member of the Executive  ...


CEO Compensation Analysis

Compensation vs. Market: Rodolphe's total compensation ($USD2.37M) is about average for companies of similar size in the French market ($USD1.35M).

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


Management Age and Tenure

3.6yrs

Average Tenure

51.5yo

Average Age

Experienced Management: ETL's management team is considered experienced (3.6 years average tenure).


Board Age and Tenure

3.9yrs

Average Tenure

59yo

Average Age

Experienced Board: ETL's board of directors are considered experienced (3.9 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

  • Michel Azibert (64yo)

    Deputy Chief Executive Officer

    • Tenure: 8.1yrs
    • Compensation: €1.22m
  • Rodolphe Belmer (50yo)

    CEO & Director

    • Tenure: 3.6yrs
    • Compensation: €2.13m
  • Manuel Serrano

    Deputy Chief Technology Officer and Director of Operations

    • Tenure: 0yrs
  • Yohann Leroy (41yo)

    Deputy CEO & CTO

    • Tenure: 5.3yrs
    • Compensation: €456.54k
  • Jakub Brzeczkowski

    President of Eutelsat Poland

    • Tenure: 0yrs
  • Antoine Mingalon (53yo)

    Chief Human Resources Officer

    • Tenure: 2.8yrs
  • Markus Fritz

    Executive Vice President of Commercial Development & Strategic Partnerships

    • Tenure: 4yrs
  • Joanna Darlington

    Head of Investor Relations

    • Tenure: 0yrs
  • Sandrine Téran

    CFO & IT Officer

    • Tenure: 2.8yrs
  • Marie-Sophie Ecuer

    Corporate Communications Director

    • Tenure: 1.8yrs

Board Members

  • Carole Piwnica (61yo)

    Independent Director

    • Tenure: 8.9yrs
    • Compensation: €69.00k
  • Giuliano Berretta (79yo)

    Chairman

    • Tenure: 7.9yrs
    • Compensation: €315.00k
  • Ross McInnes (65yo)

    Independent Director

    • Tenure: 6.7yrs
    • Compensation: €87.00k
  • Ana María García Fau (51yo)

    Independent Director

    • Tenure: 3.9yrs
    • Compensation: €79.13k
  • Jean d'Arthuys (53yo)

    Director

    • Tenure: 3.9yrs
    • Compensation: €68.60k
  • Dominique D'Hinnin (60yo)

    Independent Chairman of the Board

    • Tenure: 1.9yrs
    • Compensation: €167.11k
  • Rodolphe Belmer (50yo)

    CEO & Director

    • Tenure: 3.6yrs
    • Compensation: €2.13m
  • John Birt (75yo)

    Vice President of Board of Directors

    • Tenure: 0yrs
    • Compensation: €108.00k
  • Stéphanie Frachet (42yo)

    Director

    • Tenure: 8.7yrs
    • Compensation: €62.00k
  • Esther Gaide (58yo)

    Independent Director

    • Tenure: 1.9yrs
    • Compensation: €47.27k

Company Information

Eutelsat Communications S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Eutelsat Communications S.A.
  • Ticker: ETL
  • Exchange: ENXTPA
  • Founded: 1977
  • Industry: Cable and Satellite
  • Sector: Media
  • Market Cap: €4.264b
  • Shares outstanding: 232.55m
  • Website: https://www.eutelsat.com

Number of Employees


Location

  • Eutelsat Communications S.A.
  • 70, rue Balard
  • Cedex 15
  • Paris
  • Ile-de-France
  • 75502
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ETLENXTPA (Euronext Paris)YesCommon StockFREURDec 2005
E3BDB (Deutsche Boerse AG)YesCommon StockDEEURDec 2005
0JNILSE (London Stock Exchange)YesCommon StockGBEURDec 2005
EUTL.FOTCPK (Pink Sheets LLC)YesCommon StockUSUSDDec 2005
ETLPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURDec 2005
ETCM.YOTCPK (Pink Sheets LLC)SPONSORED ADRUSUSDNov 2011

Biography

Eutelsat Communications S.A., a private telecommunications satellite operator, engages in the design, establishment, operation, and maintenance of satellite telecommunications systems. The company offers b ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/21 20:46
End of Day Share Price2019/10/21 00:00
Earnings2019/06/30
Annual Earnings2019/06/30


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.