The third listed company of shopping centres in Continental Europe, Carmila was created by Carrefour and major institutional investors to transform and enhance the shopping centres adjoining Carrefour stores in France, Spain and Italy.
Price History & Performance
|Historical stock prices|
|Current Share Price||€12.98|
|52 Week High||€6.54|
|52 Week Low||€15.26|
|1 Month Change||10.19%|
|3 Month Change||4.17%|
|1 Year Change||55.64%|
|3 Year Change||-41.00%|
|5 Year Change||n/a|
|Change since IPO||-55.70%|
Recent News & Updates
|CARM||FR REITs||FR Market|
Return vs Industry: CARM exceeded the French REITs industry which returned 26.6% over the past year.
Return vs Market: CARM exceeded the French Market which returned 31.8% over the past year.
Stable Share Price: CARM is not significantly more volatile than the rest of French stocks over the past 3 months, typically moving +/- 4% a week.
Volatility Over Time: CARM's weekly volatility (4%) has been stable over the past year.
About the Company
The third listed company of shopping centres in Continental Europe, Carmila was created by Carrefour and major institutional investors to transform and enhance the shopping centres adjoining Carrefour stores in France, Spain and Italy. As of 30 June 2020, its portfolio consisted of 215 shopping centres, leaders in their catchment area, valued at 6.2 billion euros. Putting proximity at the heart of all its actions, Carmila aims to simplify life and improve the daily lives of merchants and customers in the heart of all territories.
Carmila Fundamentals Summary
|CARM fundamental statistics|
Is CARM overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|CARM income statement (TTM)|
|Cost of Revenue||€186.24m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
Oct 21, 2021
|Earnings per share (EPS)||-0.37|
|Net Profit Margin||-11.86%|
How did CARM perform over the long term?See historical performance and comparison
3.7%Current Dividend Yield
Is Carmila undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: CARM (€12.98) is trading below our estimate of fair value (€21.16)
Significantly Below Fair Value: CARM is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: CARM is unprofitable, so we can't compare its PE Ratio to the French REITs industry average.
PE vs Market: CARM is unprofitable, so we can't compare its PE Ratio to the French market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate CARM's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: CARM is good value based on its PB Ratio (0.6x) compared to the FR REITs industry average (0.7x).
How is Carmila forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: CARM is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.4%).
Earnings vs Market: CARM is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: CARM's is expected to become profitable in the next 3 years.
Revenue vs Market: CARM's revenue is expected to decline over the next 3 years (-1% per year).
High Growth Revenue: CARM's revenue is forecast to decline over the next 3 years (-1% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: CARM's Return on Equity is forecast to be low in 3 years time (9.1%).
How has Carmila performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: CARM is currently unprofitable.
Growing Profit Margin: CARM is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: CARM is unprofitable, and losses have increased over the past 5 years at a rate of 60.8% per year.
Accelerating Growth: Unable to compare CARM's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: CARM is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (-13.2%).
Return on Equity
High ROE: CARM has a negative Return on Equity (-1.64%), as it is currently unprofitable.
How is Carmila's financial position?
Financial Position Analysis
Short Term Liabilities: CARM's short term assets (€423.7M) do not cover its short term liabilities (€449.9M).
Long Term Liabilities: CARM's short term assets (€423.7M) do not cover its long term liabilities (€2.7B).
Debt to Equity History and Analysis
Debt Level: CARM's debt to equity ratio (82.5%) is considered high.
Reducing Debt: CARM's debt to equity ratio has increased from 80.2% to 82.5% over the past 5 years.
Debt Coverage: CARM's debt is not well covered by operating cash flow (7.7%).
Interest Coverage: CARM's interest payments on its debt are well covered by EBIT (3.3x coverage).
What is Carmila current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: CARM's dividend (3.7%) is higher than the bottom 25% of dividend payers in the French market (1.29%).
High Dividend: CARM's dividend (3.7%) is low compared to the top 25% of dividend payers in the French market (3.91%).
Stability and Growth of Payments
Stable Dividend: CARM has been paying a dividend for less than 10 years and during this time payments have been volatile.
Growing Dividend: CARM has only been paying a dividend for 4 years, and since then payments have fallen.
Current Payout to Shareholders
Dividend Coverage: At its current payout ratio (82.3%), CARM's payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: CARM's dividends in 3 years are forecast to be covered by earnings (91.7% payout ratio).
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Marie Cheval (47 yo)
Ms. Marie Cheval is Deputy Chairwoman of Supervisory Board Member since 2019 and was Supervisory Board member until 2019 at Métropole Télévision S.A. She has been Executive Director of Financial Services a...
CEO Compensation Analysis
Compensation vs Market: Marie's total compensation ($USD671.09K) is below average for companies of similar size in the French market ($USD1.03M).
Compensation vs Earnings: Insufficient data to compare Marie's compensation with company performance.
Experienced Management: CARM's management team is not considered experienced ( 0.5 years average tenure), which suggests a new team.
Experienced Board: CARM's board of directors are considered experienced (4.3 years average tenure).
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.
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 2.8%.
Carmila S.A.'s employee growth, exchange listings and data sources
- Name: Carmila S.A.
- Ticker: CARM
- Exchange: ENXTPA
- Founded: 2014
- Industry: Retail REITs
- Sector: Real Estate
- Market Cap: €1.897b
- Shares outstanding: 146.18m
- Website: https://www.carmila.com/en/
Number of Employees
- Carmila S.A.
- 58, avenue Émile-Zola
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/17 22:31|
|End of Day Share Price||2021/09/17 00:00|
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.