ENXTPA:ARG

Stock Analysis Report

Executive Summary

Argan SA engages in designing, building, developing, owning, leasing, and managing logistical platforms in France.

Snowflake

Fundamentals

Solid track record average dividend payer.

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-3.5%

ARG

1.3%

FR REITs

-0.9%

FR Market


1 Year Return

48.9%

ARG

14.7%

FR REITs

12.3%

FR Market

Return vs Industry: ARG exceeded the French REITs industry which returned 14.7% over the past year.

Return vs Market: ARG exceeded the French Market which returned 12.3% over the past year.


Shareholder returns

ARGIndustryMarket
7 Day-3.5%1.3%-0.9%
30 Day2.8%6.4%0.1%
90 Day6.7%8.7%-0.2%
1 Year52.4%48.9%22.2%14.7%16.1%12.3%
3 Year187.0%164.6%32.2%10.9%42.8%28.9%
5 Year364.2%280.7%74.3%31.0%71.2%45.1%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

4.82x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: ARG (€67) is trading above our estimate of fair value (€25.38)

Significantly Below Fair Value: ARG is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: ARG is good value based on its PE Ratio (4.8x) compared to the REITs industry average (10.1x).

PE vs Market: ARG is good value based on its PE Ratio (4.8x) compared to the French market (17.3x).


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate ARG's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: ARG is overvalued based on its PB Ratio (1.4x) compared to the FR REITs industry average (1x).


Next Steps

Future Growth

How is Argan forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

-12.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ARG's earnings are forecast to decline over the next 3 years (-12% per year).

Earnings vs Market: ARG's earnings are forecast to decline over the next 3 years (-12% per year).

High Growth Earnings: ARG's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if ARG's revenue is forecast to grow faster than the French market.

High Growth Revenue: Insufficient data to determine if ARG's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: Insufficient data to determine if ARG's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Argan performed over the past 5 years?

33.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: ARG's earnings have grown significantly by 33.1% per year over the past 5 years.

Accelerating Growth: ARG's earnings growth over the past year (102.9%) exceeds its 5-year average (33.1% per year).

Earnings vs Industry: ARG earnings growth over the past year (102.9%) exceeded the REITs industry 13.7%.


Return on Equity

High ROE: ARG's Return on Equity (28.7%) is considered high.


Return on Assets

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


Return on Capital Employed

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


Next Steps

Financial Health

How is Argan'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: ARG has a high level of physical assets or inventory.

Debt Coverage by Assets: ARG's debt is not covered by short term assets (assets are 0.1x debt).


Financial Institutions Analysis

Asset Level: ARG's level of assets compared to its equity is low.

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

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

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

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

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


Next Steps

Dividend

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

2.01%

Current Dividend Yield


Dividend Yield vs Market

company2.0%marketbottom25%1.5%markettop25%4.7%industryaverage5.0%forecastin3Yearsn/a

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: ARG's dividend (2.01%) is higher than the bottom 25% of dividend payers in the French market (1.55%).

High Dividend: ARG's dividend (2.01%) is low compared to the top 25% of dividend payers in the French market (4.65%).

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

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


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (17.3%), ARG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

3.1yrs

Average board tenure


CEO

Argan has no CEO, or we have no data on them.


Board Age and Tenure

3.1yrs

Average Tenure

Experienced Board: ARG's board of directors are considered experienced (3.1 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

  • Ronan Le Lan

    Chairman of the Executive Board

    • Tenure: 0yrs
    • Compensation: €653.68k
  • Francis Albertinelli

    Administrative & Financial Director and Member of the Executive Board

    • Tenure: 0yrs
    • Compensation: €653.70k
  • Jean-Claude Le Lan

    Founding President & Chairman of the Supervisory Board

    • Tenure: 16.5yrs
    • Compensation: €96.00k
  • Jean-Claude Le Lan

    Treasurer

    • Tenure: 9.8yrs
    • Compensation: €548.70k
  • Frédéric Larroumets

    Chief Development Officer & Member of the Executive Board

    • Tenure: 5.1yrs
    • Compensation: €800.18k

Board Members

  • Françoise Leroy (67yo)

    Independent Director

    • Tenure: 2.6yrs
  • Florence de Lafont (57yo)

    Independent Member of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: €12.00k
  • Jean-Claude Le Lan

    Founding President & Chairman of the Supervisory Board

    • Tenure: 16.5yrs
    • Compensation: €96.00k
  • Nicolas Le Lan

    Member of the Supervisory Board

    • Tenure: 2.6yrs
  • Bernard Thévenin

    Independent Member of the Supervisory Board

    • Tenure: 0yrs
    • Compensation: €12.00k
  • François-Régis Causans

    Independent Member of the Supervisory Board

    • Tenure: 3.6yrs
    • Compensation: €12.00k

Company Information

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


Key Information

  • Name: Argan SA
  • Ticker: ARG
  • Exchange: ENXTPA
  • Founded: 1993
  • Industry: Specialized REITs
  • Sector: Real Estate
  • Market Cap: €1.488b
  • Shares outstanding: 22.21m
  • Website: https://www.argan.fr

Number of Employees


Location

  • Argan SA
  • 21, rue Beffroy
  • Neuilly sur Seine
  • Ile-de-France
  • 92200
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ARGENXTPA (Euronext Paris)YesCommon SharesFREURJun 2007
0GN6LSE (London Stock Exchange)YesCommon SharesGBEURJun 2007
ARGPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJun 2007
ARLL.FOTCPK (Pink Sheets LLC)YesCommon SharesUSUSDJun 2007

Biography

Argan SA engages in designing, building, developing, owning, leasing, and managing logistical platforms in France. It is also involved in the development and management of land. The company’s real estate p ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/23 20:59
End of Day Share Price2019/10/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.