ENXTPA:CBSM

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Société Centrale des Bois et des Scieries de la Manche

Executive Summary

Societe Centrale des Bois et Scieries de la Manche engages in the ownership, management, and lease of real estate properties in France. More Details


Snowflake Analysis

Undervalued with proven track record.

Share Price & News

How has Société Centrale des Bois et des Scieries de la Manche's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CBSM has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-0.7%

CBSM

3.9%

FR REITs

0.4%

FR Market


1 Year Return

-14.7%

CBSM

-35.4%

FR REITs

-6.0%

FR Market

Return vs Industry: CBSM exceeded the French REITs industry which returned -38.2% over the past year.

Return vs Market: CBSM underperformed the French Market which returned -8.5% over the past year.


Shareholder returns

CBSMIndustryMarket
7 Day-0.7%3.9%0.4%
30 Day-8.2%-7.1%-1.8%
90 Day-10.7%-15.8%-3.2%
1 Year-14.7%-14.7%-30.9%-35.4%-3.9%-6.0%
3 Year-3.7%-6.4%-23.2%-35.7%4.1%-5.0%
5 Year24.8%17.5%-3.7%-28.0%34.4%14.4%

Price Volatility Vs. Market

How volatile is Société Centrale des Bois et des Scieries de la Manche's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Société Centrale des Bois et des Scieries de la Manche undervalued compared to its fair value and its price relative to the market?

41.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: CBSM (€6.7) is trading below our estimate of fair value (€11.4)

Significantly Below Fair Value: CBSM is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: CBSM is good value based on its PE Ratio (4.6x) compared to the FR REITs industry average (7.2x).

PE vs Market: CBSM is good value based on its PE Ratio (4.6x) compared to the French market (17x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: CBSM is good value based on its PB Ratio (0.5x) compared to the FR REITs industry average (0.6x).


Next Steps

Future Growth

How is Société Centrale des Bois et des Scieries de la Manche forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

28.4%

Forecasted Real Estate industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Société Centrale des Bois et des Scieries de la Manche has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

Past Performance

How has Société Centrale des Bois et des Scieries de la Manche performed over the past 5 years?

16.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CBSM has a large one-off gain of €22.3M impacting its December 31 2019 financial results.

Growing Profit Margin: CBSM's current net profit margins are higher than last year (68.4%).


Past Earnings Growth Analysis

Earnings Trend: CBSM's earnings have grown by 16.3% per year over the past 5 years.

Accelerating Growth: CBSM's earnings growth over the past year (56.8%) exceeds its 5-year average (16.3% per year).

Earnings vs Industry: CBSM earnings growth over the past year (56.8%) exceeded the REITs industry 5.7%.


Return on Equity

High ROE: CBSM's Return on Equity (10.9%) is considered low.


Next Steps

Financial Health

How is Société Centrale des Bois et des Scieries de la Manche's financial position?


Financial Position Analysis

Short Term Liabilities: CBSM's short term assets (€11.8M) do not cover its short term liabilities (€23.0M).

Long Term Liabilities: CBSM's short term assets (€11.8M) do not cover its long term liabilities (€176.1M).


Debt to Equity History and Analysis

Debt Level: CBSM's debt to equity ratio (89.8%) is considered high.

Reducing Debt: CBSM's debt to equity ratio has reduced from 165.1% to 89.8% over the past 5 years.

Debt Coverage: CBSM's debt is not well covered by operating cash flow (6.7%).

Interest Coverage: CBSM's interest payments on its debt are not well covered by EBIT (1.8x coverage).


Balance Sheet


Next Steps

Dividend

What is Société Centrale des Bois et des Scieries de la Manche current dividend yield, its reliability and sustainability?

1.49%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: CBSM's dividend (1.49%) isn’t notable compared to the bottom 25% of dividend payers in the French market (1.54%).

High Dividend: CBSM's dividend (1.49%) is low compared to the top 25% of dividend payers in the French market (5.22%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, CBSM has been paying a dividend for less than 10 years.

Growing Dividend: CBSM's dividend payments have increased, but the company has only paid a dividend for 6 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (12.2%), CBSM's dividend payments are thoroughly 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

How experienced are the management team and are they aligned to shareholders interests?

11.3yrs

Average board tenure


CEO

Jacques Lacroix

14.92yrs

Tenure

€293,600

Compensation

Mr. Jacques Lacroix has been Chairman and Chief Executive Officer at Societe Centrale des Bois et Scieries de la Manche SA. since December 23, 2009 and October 3, 2005 respectively.


CEO Compensation Analysis

Compensation vs Market: Jacques's total compensation ($USD0.00) is below average for companies of similar size in the French market ($USD310.02K).

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


Board Members

NamePositionTenureCompensationOwnership
Jacques Lacroix
Chairman & CEO14.92yrs€293.60k1.97%
€ 1.7m
Jean-Daniel Cohen
Director14.92yrs€2.00kno data
Sophie Erre
Director11.75yrs€2.00kno data
Pauline Attinault
Director6.92yrs€2.00kno data

11.3yrs

Average Tenure

Experienced Board: CBSM's board of directors are seasoned and experienced ( 11.3 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 been diluted in the past year, with total shares outstanding growing by 3.7%.


Top Shareholders

Company Information

Société Centrale des Bois et des Scieries de la Manche S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Société Centrale des Bois et des Scieries de la Manche S.A.
  • Ticker: CBSM
  • Exchange: ENXTPA
  • Founded:
  • Industry: Diversified REITs
  • Sector: Real Estate
  • Market Cap: €85.330m
  • Shares outstanding: 12.74m
  • Website: https://www.scbsm.fr

Number of Employees


Location

  • Société Centrale des Bois et des Scieries de la Manche S.A.
  • 12 rue Godot de Mauroy
  • Paris
  • Ile-de-France
  • 75009
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CBSMENXTPA (Euronext Paris)YesCommon StockFREURJul 2000
0IK0LSE (London Stock Exchange)YesCommon StockGBEURJul 2000
CBSMPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon StockGBEURJul 2000

Biography

Societe Centrale des Bois et Scieries de la Manche engages in the ownership, management, and lease of real estate properties in France. It leases offices, business properties, mixed activity locations, and ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/30 21:49
End of Day Share Price2020/09/30 00:00
Earnings2019/12/31
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.