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Technicolor

ENXTPA:TCH
Snowflake Description

Adequate balance sheet and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TCH
ENXTPA
€491M
Market Cap
  1. Home
  2. FR
  3. Media
Company description

Technicolor SA develops video technologies, products, and services for the media and entertainment sectors worldwide. The last earnings update was 25 days ago. More info.


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TCH Share Price and Events
7 Day Returns
2.8%
ENXTPA:TCH
-1.7%
FR Entertainment
1.2%
FR Market
1 Year Returns
-12.1%
ENXTPA:TCH
16%
FR Entertainment
3.3%
FR Market
TCH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Technicolor (TCH) 2.8% 8.5% 22.3% -12.1% -76.8% -78.2%
FR Entertainment -1.7% 1.6% 14.8% 16% 49.1% 49.4%
FR Market 1.2% 5.8% 14.6% 3.3% 29.7% 33.4%
1 Year Return vs Industry and Market
  • TCH underperformed the Entertainment industry which returned 16% over the past year.
  • TCH underperformed the Market in France which returned 3.3% over the past year.
Price Volatility
TCH
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Technicolor 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 Technicolor 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.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Technicolor.

ENXTPA:TCH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 13.2%
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.

Calculation of Discount Rate/ Cost of Equity for ENXTPA:TCH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.7%
Entertainment Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.962 (1 + (1- 33%) (208.51%))
1.875
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.88
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (1.875 * 6.65%)
13.2%

Discounted Cash Flow Calculation for ENXTPA:TCH using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Technicolor is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ENXTPA:TCH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 13.2%)
2019 60.85 Analyst x2 53.75
2020 91.40 Analyst x2 71.32
2021 113.45 Est @ 24.12% 78.20
2022 132.85 Est @ 17.1% 80.89
2023 149.05 Est @ 12.19% 80.17
2024 162.10 Est @ 8.75% 77.02
2025 172.39 Est @ 6.35% 72.36
2026 180.43 Est @ 4.66% 66.90
2027 186.71 Est @ 3.48% 61.15
2028 191.68 Est @ 2.66% 55.46
Present value of next 10 years cash flows €697.23
ENXTPA:TCH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €191.68 × (1 + 0.73%) ÷ (13.2% – 0.73%)
€1,548.28
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,548.28 ÷ (1 + 13.2%)10
€447.96
ENXTPA:TCH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €697.23 + €447.96
€1,145.19
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,145.19 / 413.39
€2.77
ENXTPA:TCH Discount to Share Price
Calculation Result
Value per share (EUR) From above. €2.77
Current discount Discount to share price of €1.19
= -1 x (€1.19 - €2.77) / €2.77
57.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Technicolor is available for.
Intrinsic value
>50%
Share price is €1.19 vs Future cash flow value of €2.77
Current Discount Checks
For Technicolor to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Technicolor's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Technicolor's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Technicolor's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Technicolor's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:TCH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €-0.54
ENXTPA:TCH Share Price ** ENXTPA (2019-04-23) in EUR €1.19
France Entertainment Industry PE Ratio Median Figure of 7 Publicly-Listed Entertainment Companies 29.29x
France Market PE Ratio Median Figure of 418 Publicly-Listed Companies 16.23x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Technicolor.

ENXTPA:TCH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:TCH Share Price ÷ EPS (both in EUR)

= 1.19 ÷ -0.54

-2.18x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Technicolor is loss making, we can't compare its value to the FR Entertainment industry average.
  • Technicolor is loss making, we can't compare the value of its earnings to the France market.
Price based on expected Growth
Does Technicolor's expected growth come at a high price?
Raw Data
ENXTPA:TCH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.18x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
148.6%per year
France Entertainment Industry PEG Ratio Median Figure of 7 Publicly-Listed Entertainment Companies 1.93x
France Market PEG Ratio Median Figure of 273 Publicly-Listed Companies 1.52x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Technicolor, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Technicolor's assets?
Raw Data
ENXTPA:TCH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €0.66
ENXTPA:TCH Share Price * ENXTPA (2019-04-23) in EUR €1.19
France Entertainment Industry PB Ratio Median Figure of 10 Publicly-Listed Entertainment Companies 2.35x
France Market PB Ratio Median Figure of 617 Publicly-Listed Companies 1.49x
ENXTPA:TCH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:TCH Share Price ÷ Book Value per Share (both in EUR)

= 1.19 ÷ 0.66

1.81x

* Primary Listing of Technicolor.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Technicolor is good value based on assets compared to the FR Entertainment industry average.
X
Value checks
We assess Technicolor's value by looking at:
  1. 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. )
  2. Is the PE ratio less than the market average, and/ or less than the Entertainment industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Entertainment industry average (and greater than 0)? (1 check)
  5. Technicolor 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 Technicolor expected to perform in the next 1 to 3 years based on estimates from 3 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!
Annual Growth Rate
148.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Technicolor expected to grow at an attractive rate?
  • Technicolor's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Technicolor's earnings growth is expected to exceed the France market average.
  • Technicolor's revenues are expected to decrease over the next 1-3 years, this is below the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:TCH Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:TCH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 148.6%
ENXTPA:TCH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -1.1%
France Entertainment Industry Earnings Growth Rate Market Cap Weighted Average 36.8%
France Entertainment Industry Revenue Growth Rate Market Cap Weighted Average 5.7%
France Market Earnings Growth Rate Market Cap Weighted Average 13.4%
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
Raw Data
ENXTPA:TCH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:TCH Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 3,906 214 71 3
2019-12-31 3,906 187 -3 3
ENXTPA:TCH Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 3,988 223 -225
2018-09-30 3,956 215 -203
2018-06-30 3,902 206 -232
2018-03-31 4,067 186 -225
2017-12-31 4,253 167 -167
2017-09-30 4,280 159 -194
2017-06-30 4,306 151 -220
2017-03-31 4,467 280 -163
2016-12-31 4,628 408 -106
2016-09-30 4,540 391 8
2016-06-30 4,451 374 121
2016-03-31 4,052 368 157

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Technicolor's earnings are expected to grow significantly at over 20% yearly.
  • Technicolor's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTPA:TCH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Technicolor Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:TCH Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.07 0.17 -0.04 2.00
2019-12-31 -0.01 0.09 -0.11 2.00
ENXTPA:TCH Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 -0.54
2018-09-30 -0.49
2018-06-30 -0.56
2018-03-31 -0.54
2017-12-31 -0.40
2017-09-30 -0.47
2017-06-30 -0.53
2017-03-31 -0.40
2016-12-31 -0.26
2016-09-30 0.02
2016-06-30 0.31
2016-03-31 0.42

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Technicolor is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Technicolor's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Technicolor has a total score of 3/6, 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 Technicolor 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
Below we compare Technicolor's growth in the last year to its industry (Entertainment).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Technicolor does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Technicolor's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Technicolor's 1-year growth to the FR Entertainment industry average as it is not currently profitable.
Earnings and Revenue History
Technicolor's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Technicolor Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:TCH Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 3,988.00 -225.00 298.00 127.00
2018-09-30 3,956.00 -203.00 309.50 133.00
2018-06-30 3,902.00 -232.00 326.00 162.00
2018-03-31 4,066.50 -225.00 344.00 167.00
2017-12-31 4,253.00 -167.00 357.00 149.00
2017-09-30 4,279.50 -193.50 371.50 160.00
2017-06-30 4,306.00 -220.00 386.00 171.00
2017-03-31 4,467.00 -163.00 389.00 174.00
2016-12-31 4,628.00 -106.00 392.00 177.00
2016-09-30 4,539.50 7.50 385.50 165.50
2016-06-30 4,451.00 121.00 379.00 154.00
2016-03-31 4,051.50 157.00 359.00 141.50
2015-12-31 3,652.00 193.00 339.00 129.00
2015-06-30 3,448.00 174.00 340.00 136.00
2015-03-31 3,390.00 157.50 333.00 136.00
2014-12-31 3,332.00 141.00 326.00 136.00
2014-06-30 3,366.00 -69.00 339.00 140.00
2014-03-31 3,408.00 -87.50 346.00 141.50
2013-12-31 3,450.00 -106.00 353.00 143.00
2013-06-30 3,523.00 32.00 377.00 142.00
2013-03-31 3,551.50 23.50 393.50 137.00
2012-12-31 3,580.00 15.00 410.00 132.00
2012-06-30 3,537.00 -233.00 397.00 124.00

*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.
  • It is difficult to establish if Technicolor has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Technicolor has efficiently used its assets last year compared to the FR Entertainment industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Technicolor improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Technicolor's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Entertainment industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Technicolor has a total score of 0/6, 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 Technicolor'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 Technicolor's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Technicolor's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Technicolor's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Technicolor's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.6x 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.
Raw Data

All data from Technicolor Company Filings, last reported 3 months ago.

ENXTPA:TCH Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 272.00 1,024.00 293.00
2018-09-30 272.00 1,024.00 293.00
2018-06-30 185.00 1,107.00 197.00
2018-03-31 185.00 1,107.00 197.00
2017-12-31 336.00 1,097.00 321.00
2017-09-30 336.00 1,097.00 321.00
2017-06-30 484.00 1,092.00 184.00
2017-03-31 484.00 1,092.00 184.00
2016-12-31 704.00 1,050.00 375.00
2016-09-30 704.00 1,050.00 375.00
2016-06-30 617.00 1,263.00 439.00
2016-03-31 617.00 1,263.00 439.00
2015-12-31 737.00 1,293.00 390.00
2015-06-30 302.00 944.00 381.00
2015-03-31 302.00 944.00 381.00
2014-12-31 219.00 911.00 328.00
2014-06-30 143.00 864.00 256.00
2014-03-31 143.00 864.00 256.00
2013-12-31 119.00 1,022.00 307.00
2013-06-30 242.00 1,101.00 370.00
2013-03-31 242.00 1,101.00 370.00
2012-12-31 241.00 1,115.00 397.00
2012-06-30 99.00 1,325.00 305.00
  • Technicolor's level of debt (376.5%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (855.4% vs 376.5% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Technicolor has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Technicolor has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 71.5% per year.
X
Financial health checks
We assess Technicolor's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Technicolor has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. 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 Technicolor'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
Dividend payments
0%
Current annual income from Technicolor dividends. Estimated to be 0% next year.
If you bought €2,000 of Technicolor shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Technicolor's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Technicolor's dividend against the top 25% market benchmark as the company has not reported any payouts.
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.
Raw Data
ENXTPA:TCH Annualized Past and Future Dividends
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 3 Analyst Estimates (S&P Global) See Below
Europe Entertainment Industry Average Dividend Yield Market Cap Weighted Average of 22 Stocks 1.9%
France Market Average Dividend Yield Market Cap Weighted Average of 324 Stocks 2.9%
France Minimum Threshold Dividend Yield 10th Percentile 0.9%
France Bottom 25% Dividend Yield 25th Percentile 1.6%
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.

ENXTPA:TCH Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 0.00 3.00
2019-12-31 0.00 3.00
ENXTPA:TCH Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-07-24 0.000 0.000
2018-02-21 0.000 0.000
2017-02-22 0.060 1.754
2016-03-29 0.060 1.141
2016-02-19 0.060 1.073
2015-02-19 0.050 0.792
2009-04-24 0.000 0.000

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Technicolor has not reported any payouts.
  • Unable to verify if Technicolor's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Technicolor's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Technicolor has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Technicolor's dividends in 3 years as they are not expected to pay a notable one for France.
X
Income/ dividend checks
We assess Technicolor's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Technicolor afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Technicolor has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Frédéric Rose
COMPENSATION €2,893,579
AGE 56
TENURE AS CEO 10.6 years
CEO Bio

Mr. Frédéric Rose has been the Chief Executive Officer of Technicolor SA since September 1, 2008. Mr. Rose serves as President at Technicolor Inc. Mr. Rose has extensive global experience working in the US, Europe and Asia. Mr. Rose gained an extensive international experience during his 15 years with Alcatel-Lucent and has a strong working knowledge of businesses and markets and has established a track record of building winning teams. He served as Chairman and Chief Executive Officer of Thomson Reuters Corporation. He served as an Executive Vice President, Head of Asia-Pacific Region and President of Europe Africa, Asia Business and Asia Pacifc at Alcatel-Lucent. Mr. Rose served as the President at Alcatel Shanghai Bell, Alcatel-Lucent's flagship joint venture in China. Mr. Rose served as President of Alcatel's Integration and Services activities from 2003 to 2006. From 2000 to 2002, he served as Chief Operating Officer of Network Services activities at Alcatel. He served as Senior International Counsel in Alcatel's Belgian subsidiary and as a Member of the Alcatel Trade and Project Finance Team. He worked at Alcatel from 1993 to 2008. He was a Partner in Repton Group and served as an Associate at Marks & Murase, both in the USA. He served as the Chairman of Technicolor SA from April 27, 2009 to February 17, 2010. He has been Director of Technicolor SA since October 15 2008. He has been a Non Executive Director of Logica France SAS since April 2009. He has been a Director of Logica PLC since April 2009. Mr. Rose is a graduate of the Georgetown University School of Foreign Service and holds a Juris Doctor degree from the Georgetown University Law Center.

CEO Compensation
  • Frédéric's compensation has been consistent with company performance over the past year.
  • Frédéric's remuneration is higher than average for companies of similar size in France.
Management Team Tenure

Average tenure and age of the Technicolor management team in years:

5.6
Average Tenure
50
Average Age
  • The average tenure for the Technicolor management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Frédéric Rose

TITLE
CEO & Director
COMPENSATION
€3M
AGE
56
TENURE
10.6 yrs

Nicolas Grelier

TITLE
Program Manager
COMPENSATION
€25K
AGE
42
TENURE
7.3 yrs

Laurent Carozzi

TITLE
Chief Financial Officer
AGE
53
TENURE
1.1 yrs

Cristina Gomila

TITLE
CTO and Head of Research & Innovation
AGE
44
TENURE
3.2 yrs

Ginny Davis

TITLE
Chief Information Officer & Chief Security Officer
AGE
50
TENURE
11.3 yrs

Adrien Cadieux

TITLE
Group General Counsel & Company Secretary
AGE
48

Sandra Carvalho

TITLE
Chief Marketing Officer
AGE
49
TENURE
5.6 yrs

Fabienne Brunet

TITLE
Head of Human Resources & Corporate Social Responsibility
AGE
62
TENURE
4.8 yrs

Tim Sarnoff

TITLE
Deputy CEO & President of Production Services Division
AGE
58
TENURE
4.2 yrs

Steven Wendland

TITLE
Creative Head & VP of Animation
TENURE
11.3 yrs
Board of Directors Tenure

Average tenure and age of the Technicolor board of directors in years:

3.1
Average Tenure
59.5
Average Age
  • The tenure for the Technicolor board of directors is about average.
Board of Directors

Bruce Hack

TITLE
Independent Chairman of the Board of Directors
COMPENSATION
€249K
AGE
69
TENURE
2.2 yrs

Frédéric Rose

TITLE
CEO & Director
COMPENSATION
€3M
AGE
56
TENURE
10.5 yrs

Melinda Mount

TITLE
Vice Chairman of the Board
COMPENSATION
€104K
AGE
59
TENURE
0.2 yrs

Laura Quatela

TITLE
Independent Director
COMPENSATION
€102K
AGE
61
TENURE
5.9 yrs

Ana María Fau

TITLE
Independent Director
COMPENSATION
€102K
AGE
50
TENURE
3 yrs

Charles Swartz

TITLE
Member of Scientific Council

Dipankar Raychaudhuri

TITLE
Member of Scientific Council

Robert White

TITLE
Member of Scientific Council
AGE
79

Hank Fuchs

TITLE
Member of Scientific Council
AGE
60

Thierry Sommelet

TITLE
Independent Director
COMPENSATION
€86K
AGE
49
TENURE
3.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Technicolor's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Technicolor 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

How Does Technicolor SA (EPA:TCH) Affect Your Portfolio Volatility?

If you're interested in Technicolor SA (EPA:TCH), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Modern finance theory considers volatility to be a measure of risk, and there are two main types of price volatility. … Some investors use beta as a measure of how much a certain stock is impacted by market risk (volatility).

Simply Wall St -

Investors Who Bought Technicolor (EPA:TCH) Shares Three Years Ago Are Now Down 77%

Generally speaking, companies without profits are expected to grow revenue every year, and at a good clip. … Over the last three years, Technicolor's revenue dropped 1.6% per year. … The share price fall of 39% (per year, over three years) is a stern reminder that money-losing companies are expected to grow revenue.

Simply Wall St -

Is There An Opportunity With Technicolor SA's (EPA:TCH) 32.07% Undervaluation?

I am going to run you through how I calculated the intrinsic value of Technicolor SA (EPA:TCH). … by estimating the company's future cash flows and discounting them to their present value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model.

Simply Wall St -

Is Technicolor SA's (EPA:TCH) CEO Paid Enough Relative To Peers?

First, this article will compare CEO compensation with compensation at similar sized companies. … And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. … How Does Frederic Rose's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Is Now An Opportune Moment To Examine Technicolor SA (EPA:TCH)?

saw a double-digit share price rise of over 10% in the past couple of months on the ENXTPA. … With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock’s share price? … Today I will analyse the most recent data on Technicolor’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

Could The Technicolor SA (EPA:TCH) Ownership Structure Tell Us Something Useful?

The big shareholder groups in Technicolor SA (EPA:TCH) have power over the company. … Taking a look at the our data on the ownership groups (below), it's seems that. … We can zoom in on the different ownership groups, to learn more about TCH

Simply Wall St -

Does Market Volatility Impact Technicolor SA's (EPA:TCH) Share Price?

In finance, Beta is a measure of volatility. … Every stock in the market is exposed to this volatility, which is linked to the fact that stocks prices are correlated in an efficient market. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility).

Simply Wall St -

Is Technicolor SA's (EPA:TCH) CEO Paid At A Competitive Rate?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Frederic Rose's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Technicolor SA has a market cap of €463m, and is paying total annual CEO compensation of €3m.

Simply Wall St -

Is Technicolor SA (EPA:TCH) Potentially Undervalued?

As a stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock? … However, could the stock still be trading at a relatively cheap price. … Today I will analyse the most recent data on Technicolor’s outlook and valuation to see if the opportunity still exists

Simply Wall St -

Who Are Technicolor SA's (EPA:TCH) Major Shareholders?

In this article, I'm going to take a look at Technicolor SA’s (EPA:TCH) latest ownership structure, a non-fundamental factor which is important, but remains a less discussed subject among investors. … When it comes to ownership structure of a company, the impact has been observed in both the long-and short-term performance of shares. … The effect of an active institutional investor with a similar ownership as a passive pension-fund can be vastly different on a company's corporate governance and accountability to shareholders.

Simply Wall St -

Company Info

Description

Technicolor SA develops video technologies, products, and services for the media and entertainment sectors worldwide. It operates through two segments, Entertainment Services and Connected Home. The Entertainment Services segment offers visual effects (VFX) services, including pre-visualization, asset creation, texturing, animation, rigging, rotoscoping, lighting, match move, and compositing; computer-generated imagery animation solutions; and post production services, such as camera capture on the production set and creation of final distribution masters comprising on-set services, color correction, and VFX integration. It also replicates, packages, and distributes DVD, Blu-ray discs, and CDs; and provides turnkey integrated supply-chain solutions, as well as virtual reality/augmented reality and other technology work, resources, and technical services. This segment offers its services for feature films, TV series, advertising, video games, and other audiovisual content. The Connected Home segment offers a portfolio of broadband and video customer premise equipment, including broadband modems and gateways, digital set-top boxes, and Internet of Things connected devices for Pay-Tv operators and network service providers. The company was founded in 1953 and is headquartered in Paris, France.

Details
Name: Technicolor SA
TCH
Exchange: ENXTPA
Founded: 1953
€491,102,786
413,386,184
Website: http://www.technicolor.com
Address: Technicolor SA
8-10 rue du Renard,
Paris,
Ile-de-France, 75004,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA TCH Common Stock Euronext Paris FR EUR 03. Nov 1999
OTCPK THNR.F Common Stock Pink Sheets LLC US USD 03. Nov 1999
DB TNM1 Common Stock Deutsche Boerse AG DE EUR 03. Nov 1999
LSE 0MV8 Common Stock London Stock Exchange GB EUR 03. Nov 1999
BATS-CHIXE TCHP Common Stock BATS 'Chi-X Europe' GB EUR 03. Nov 1999
OTCPK TCLR.Y SPNSRD ADR NEW Pink Sheets LLC US USD 03. Nov 1999
Number of employees
Current staff
Staff numbers
17,745
Technicolor employees.
Industry
Movies and Entertainment
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/23 20:41
End of day share price update: 2019/04/23 00:00
Last estimates confirmation: 2019/04/01
Last earnings filing: 2019/03/29
Last earnings reported: 2018/12/31
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.