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Covivio Hotels

ENXTPA:COVH
Snowflake Description

Established dividend payer with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
COVH
ENXTPA
€3B
Market Cap
  1. Home
  2. FR
  3. Real Estate
Company description

Covivio Hotels, a subsidiary of Covivio, is today the leader of the investment in hotel real estate in Europe. The last earnings update was 110 days ago. More info.


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COVH Share Price and Events
7 Day Returns
0.4%
ENXTPA:COVH
-1.9%
FR REITs
-0.4%
FR Market
1 Year Returns
-0.8%
ENXTPA:COVH
-2.1%
FR REITs
2.9%
FR Market
COVH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Covivio Hotels (COVH) 0.4% 0.4% -4.4% -0.8% -1.1% 14.9%
FR REITs -1.9% -1.2% -0.6% -2.1% 3.3% 9.9%
FR Market -0.4% 3% 3.8% 2.9% 37.3% 33.1%
1 Year Return vs Industry and Market
  • COVH outperformed the REITs industry which returned -2.1% over the past year.
  • COVH underperformed the Market in France which returned 2.9% over the past year.
Price Volatility
COVH
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Covivio Hotels 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
  • It is not possible to calculate the future cash flow value for Covivio Hotels. This is due to cash flow or dividend data being unavailable. The share price is €26.
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 Covivio Hotels's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Covivio Hotels's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:COVH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €1.74
ENXTPA:COVH Share Price ** ENXTPA (2019-06-26) in EUR €26
France REITs Industry PE Ratio Median Figure of 23 Publicly-Listed REITs Companies 10.45x
France Market PE Ratio Median Figure of 421 Publicly-Listed Companies 17.78x

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

** Primary Listing of Covivio Hotels.

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

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

= 26 ÷ 1.74

14.92x

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

  • Covivio Hotels is overvalued based on earnings compared to the FR REITs industry average.
  • Covivio Hotels is good value based on earnings compared to the France market.
Price based on expected Growth
Does Covivio Hotels's expected growth come at a high price?
Raw Data
ENXTPA:COVH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.92x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
4.5%per year
France REITs Industry PEG Ratio Median Figure of 10 Publicly-Listed REITs Companies 0.23x
France Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.53x

*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 Covivio Hotels, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Covivio Hotels's assets?
Raw Data
ENXTPA:COVH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €25.74
ENXTPA:COVH Share Price * ENXTPA (2019-06-26) in EUR €26
France REITs Industry PB Ratio Median Figure of 26 Publicly-Listed REITs Companies 0.91x
France Market PB Ratio Median Figure of 622 Publicly-Listed Companies 1.46x
ENXTPA:COVH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 26 ÷ 25.74

1.01x

* Primary Listing of Covivio Hotels.

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

  • Covivio Hotels is overvalued based on assets compared to the FR REITs industry average.
X
Value checks
We assess Covivio Hotels'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 REITs 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 REITs industry average (and greater than 0)? (1 check)
  5. Covivio Hotels has a total score of 1/6, 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 Covivio Hotels expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

  • No analysts cover Covivio Hotels, future earnings growth has been estimated based on fundamentals.
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
4.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Covivio Hotels expected to grow at an attractive rate?
  • Covivio Hotels's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Covivio Hotels's earnings growth is positive but not above the France market average.
  • Unable to compare Covivio Hotels's revenue growth to the France market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ENXTPA:COVH Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:COVH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts 4.5%
France REITs Industry Earnings Growth Rate Market Cap Weighted Average -5.2%
France REITs Industry Revenue Growth Rate Market Cap Weighted Average 0.2%
France Market Earnings Growth Rate Market Cap Weighted Average 12.7%
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:COVH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:COVH Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
ENXTPA:COVH Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 315 257 194
2018-09-30 289 197
2018-06-30 263 217 199
2018-03-31 246 200 226
2017-12-31 228 182 252
2017-06-30 196 162 165
2017-03-31 193 164 144
2016-12-31 189 166 123
2016-06-30 211 187 177
2016-03-31 211 187 191

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Covivio Hotels's earnings are expected to grow by 4.5% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Covivio Hotels is high growth as no revenue estimate data is available.
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:COVH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Covivio Hotels Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:COVH Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
ENXTPA:COVH Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 1.74
2018-09-30 1.80
2018-06-30 1.87
2018-03-31 2.32
2017-12-31 2.87
2017-06-30 2.14
2017-03-31 1.90
2016-12-31 1.66
2016-06-30 2.39
2016-03-31 2.57

*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.
  • Unable to establish if Covivio Hotels will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Covivio Hotels'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.
Covivio Hotels has a total score of 1/6, 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 Covivio Hotels 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 Covivio Hotels's growth in the last year to its industry (REITs).
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.
  • Covivio Hotels's year on year earnings growth rate has been positive over the past 5 years.
  • Covivio Hotels's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Covivio Hotels's 1-year earnings growth is negative, it can't be compared to the FR REITs industry average.
Earnings and Revenue History
Covivio Hotels'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 Covivio Hotels Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:COVH Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 315.25 194.00 0.04
2018-09-30 289.05 196.72 0.03
2018-06-30 262.84 199.44 0.02
2018-03-31 245.56 225.82 0.01
2017-12-31 228.29 252.20 0.01
2017-06-30 196.25 164.61 0.00
2017-03-31 192.55 143.62 -0.01
2016-12-31 188.86 122.64 -0.02
2016-06-30 211.00 177.04 0.02
2016-03-31 211.11 190.70 0.03
2015-12-31 211.23 204.35 0.04
2015-09-30 208.38 203.15 0.03
2015-06-30 205.53 201.96 0.02
2015-03-31 202.34 149.83 0.02
2014-12-31 199.15 97.71 0.01
2014-09-30 201.11 93.82 0.01
2014-06-30 203.07 89.93
2014-03-31 206.99 132.43
2013-12-31 210.92 174.93
2013-09-30 207.69 165.47 0.08
2013-06-30 204.47 156.00 0.15
2013-03-31 200.74 127.85 0.08
2012-12-31 197.01 99.70 0.01
2012-09-30 197.66 67.65 -0.14
2012-06-30 198.30 35.59 -0.29

*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.
  • Covivio Hotels has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Covivio Hotels used its assets less efficiently than the FR REITs industry average last year based on Return on Assets.
  • Covivio Hotels's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Covivio Hotels'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 REITs 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.
Covivio Hotels has a total score of 1/6, 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 Covivio Hotels'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 Covivio Hotels's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Covivio Hotels is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Covivio Hotels's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Covivio Hotels'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.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.3x 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 Covivio Hotels Company Filings, last reported 5 months ago.

ENXTPA:COVH Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,304.21 2,870.51 381.40
2018-09-30 3,304.21 2,870.51 381.40
2018-06-30 3,200.84 2,345.19 532.24
2018-03-31 3,200.84 2,345.19 532.24
2017-12-31 2,405.16 1,749.31 33.65
2017-06-30 2,342.09 1,779.46 45.24
2017-03-31 2,342.09 1,779.46 45.24
2016-12-31 2,053.38 1,406.95 38.28
2016-06-30 1,927.72 1,668.74 57.20
2016-03-31 1,927.72 1,668.74 57.20
2015-12-31 1,940.70 1,635.36 26.01
2015-09-30 1,940.70 1,635.36 26.01
2015-06-30 1,868.38 1,707.60 59.99
2015-03-31 1,868.38 1,707.60 59.99
2014-12-31 1,837.97 1,536.93 119.78
2014-09-30 1,837.97 1,536.93 119.78
2014-06-30 1,570.93 1,679.14 54.57
2014-03-31 1,570.93 1,679.14 54.57
2013-12-31 1,645.64 1,637.24 13.21
2013-09-30 1,645.64 1,637.24 13.21
2013-06-30 1,586.39 1,574.11 30.22
2013-03-31 1,586.39 1,574.11 30.22
2012-12-31 1,563.13 1,772.12 4.55
2012-09-30 1,563.13 1,772.12 4.55
2012-06-30 1,367.73 1,343.86 20.56
  • Covivio Hotels's level of debt (86.9%) 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 (99.6% vs 86.9% today).
  • Debt is not well covered by operating cash flow (9%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.9x coverage).
X
Financial health checks
We assess Covivio Hotels'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. Covivio Hotels has a total score of 3/6, 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 Covivio Hotels'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
5.96%
Current annual income from Covivio Hotels dividends.
If you bought €2,000 of Covivio Hotels shares you are expected to receive €119 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?
  • Covivio Hotels's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.55%).
  • Covivio Hotels's dividend is above the markets top 25% of dividend payers in France (4.43%).
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:COVH 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 0 Analyst Estimates (S&P Global) See Below
France REITs Industry Average Dividend Yield Market Cap Weighted Average of 23 Stocks 5.4%
France Market Average Dividend Yield Market Cap Weighted Average of 322 Stocks 3%
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:COVH Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
ENXTPA:COVH Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-08 1.550 5.896
2018-03-07 1.550 5.966
2017-02-22 1.550 5.617
2016-03-11 1.550 5.808
2015-03-17 1.550 6.082
2015-02-20 1.550 6.492
2014-03-17 1.550 6.974
2013-03-12 1.500 7.874
2012-07-26 1.500 8.517
2012-03-05 1.500 8.763
2012-02-09 1.500 7.806
2011-03-14 1.450 7.639
2011-02-10 1.450 6.572
2010-04-01 1.400 8.006
2009-05-20 1.400 10.183
2009-03-30 1.400 15.924

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Covivio Hotels's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Covivio Hotels'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 Covivio Hotels afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Covivio Hotels has a total score of 5/6, 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 Covivio Hotels'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
Dominique Ozanne
COMPENSATION €1,111,193
AGE 40
TENURE AS CEO 1.4 years
CEO Bio

Mr. Dominique Ozanne has been Deputy General Manager and Deputy CEO of Covivio since February 14, 2018. Mr. Ozanne is serving as Chief Executive Officer at Covivio Hotels (“Foncière des Régions”) since 2018 and had been Deputy CEO of Covivio Hotels (“Foncière des Régions”) since February 14, 2018 till 2018. Mr. Ozanne joined Foncière des Régions in 2003 as Special Adviser to the Chief Executive Officer. In 2005, he took part in the set-up of Foncière des Murs, Foncière des Régions subsidiary dedicated to hotel real estate. Having been at the head of this entity since 2011 – as CEO Hotels – he was instrumental in making this lucrative sector a strategic pillar for Covivio (formerly, Foncière des Régions), which is now Europe's leading investor in hotel real estate, with a portfolio of €5 billion and over 55,000 rooms under management. He served as Chief Executive Officer at Foncière des Murs until 2012. He is a graduate of ESTP and HEC (Master's Degree in Strategy and Finance).

CEO Compensation
  • Dominique's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Dominique's remuneration is about average for companies of similar size in France.
Management Team

Dominique Ozanne

TITLE
Chief Executive Officer
COMPENSATION
€1M
AGE
40
TENURE
1.4 yrs

Emmanuel Chabas

TITLE
Supervisory Board Member
COMPENSATION
€4K
AGE
42

Tugdual Millet

TITLE
Chief Financial Officer
AGE
40

Elsa Tobelem

TITLE
Deputy Director & Member of Management Board

Yves Marque

TITLE
Chief Operating Officer

Paul Arkwright

TITLE
Investor Relations Officer

Marc Henrion

TITLE
Member of the European Board and Managing Director of Foncière Europe Logistique
COMPENSATION
€3K
AGE
68

Daniel Frey

TITLE
Member of the European Board and Vice Chief Executive Officer of Immeo Wohnen

Gaël Lay

TITLE
Deputy Chief Executive Officer
TENURE
6.4 yrs
Board of Directors Tenure

Average tenure and age of the Covivio Hotels board of directors in years:

10.2
Average Tenure
55
Average Age
  • The average tenure for the Covivio Hotels board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Joseph Kullmann

TITLE
Chairman of the Supervisory Board
COMPENSATION
€4M
AGE
53
TENURE
14.6 yrs

Olivier Joseph Estève

TITLE
Member of Supervisory Board
COMPENSATION
€2M
AGE
54
TENURE
8.2 yrs

Françoise Jacqueline Debrus

TITLE
Supervisory Board Member
COMPENSATION
€5K
AGE
58
TENURE
9.8 yrs

Denis Moscovici

TITLE
Director of European Board
COMPENSATION
€248K
AGE
56

François Morrisson

TITLE
Supervisory Board Member
COMPENSATION
€41K
AGE
53
TENURE
8.2 yrs

Jean Luchet

TITLE
Supervisory Board Member
COMPENSATION
€3K
AGE
74
TENURE
10.2 yrs

Sébastien Pezet

TITLE
Member of Supervisory Board
COMPENSATION
€4K
AGE
43
TENURE
10.6 yrs

Nathalie Robin

TITLE
Supervisory Board Member
COMPENSATION
€4K
AGE
56
TENURE
11.3 yrs

Emmanuel Chabas

TITLE
Supervisory Board Member
COMPENSATION
€4K
AGE
42

Marc Henrion

TITLE
Member of the European Board and Managing Director of Foncière Europe Logistique
COMPENSATION
€3K
AGE
68

Daniel Frey

TITLE
Member of the European Board and Vice Chief Executive Officer of Immeo Wohnen
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Covivio Hotels'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. Covivio Hotels 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

What Covivio Hotels's (EPA:COVH) ROE Can Tell Us

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Covivio Hotels: 6.9% = €194m ÷ €3.3b (Based on the trailing twelve months to December 2018.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Does Covivio Hotels Have A Good Return On Equity? … Combining Covivio Hotels's Debt And Its 6.9% Return On Equity While Covivio Hotels does have some debt, with debt to equity of just 0.87, we wouldn't say debt is excessive.

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Read This Before Buying Covivio Hotels (EPA:COVH) For Its Dividend

Today we'll take a closer look at Covivio Hotels (EPA:COVH) from a dividend investor's perspective. Owning a strong business and reinvesting the dividends is widely seen as an attractive way of growing your wealth. If you are hoping to live on the income from dividends, it's important to be a lot more stringent with your investments than the average punter. A high yield and a long history of paying dividends is an appealing combination for Covivio Hotels. It would not be a surprise to discover that many investors buy it for the dividends. There are a few simple ways to reduce the risks of buying Covivio Hotels for its dividend, and we'll go through these below. Click the interactive chart for our full dividend analysis ENXTPA:COVH Historical Dividend Yield, May 17th 2019 Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! Payout ratios Dividends are typically paid from company earnings. If a company pays more in dividends than it earned, then the dividend might become unsustainable - hardly an ideal situation. So we need to be form a view on if a company's dividend is sustainable, relative to its net profit after tax. In the last year, Covivio Hotels paid out 64% of its profit as dividends. This is a healthy payout ratio, and while it does limit the amount of earnings that can be reinvested in the business, there is also some room to lift the payout ratio over time. Another important check we do is to see if the free cash flow generated is sufficient to pay the dividend. Covivio Hotels paid out 211% of its free cash flow last year, suggesting the dividend is poorly covered by cash flow. Paying out more than 100% of your free cash flow in dividends is generally not a long-term, sustainable state of affairs, so we think shareholders should watch this metric closely. Covivio Hotels is a REIT, which is an investment structure that often has different payout rules compared to other companies. It is not uncommon for REITs to pay out 100% of their earnings each year. Is Covivio Hotels's Balance Sheet Risky? As Covivio Hotels has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. … Dividend Growth Potential While dividend payments have been relatively reliable, it would also be nice if earnings per share (EPS) were growing, as this is essential to maintaining the dividend's purchasing power over the long term. In the last five years, Covivio Hotels's earnings per share have shrunk at approximately 8.5% per annum. Declining earnings per share over a number of years is not a great sign for the dividend investor. Without some improvement, this does not bode well for the long term value of a company's dividend. We'd also point out that Covivio Hotels issued a meaningful number of new shares in the past year. Regularly issuing new shares can be detrimental - it's hard to grow dividends per share when new shares are regularly being created. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Covivio Hotels gets a pass on its dividend payout ratio, but it paid out virtually all of its cash flow as dividends.

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If You Had Bought Covivio Hotels (EPA:COVH) Shares Five Years Ago You'd Have Made 21%

Unfortunately for shareholders, while the Covivio Hotels (EPA:COVH) share price is up 21% in the last five years, that's less than the market return. … One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … During five years of share price growth, Covivio Hotels actually saw its EPS drop 8.5% per year.

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Does Covivio Hotels (EPA:COVH) Create Value For Shareholders?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Covivio Hotels (EPA:COVH). … Our data shows Covivio Hotels has a return on equity of 6.9% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

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Should You Invest In Covivio Hotels (EPA:COVH)?

real estate investment trust (REIT) based in Paris, France. … Funds from Operations (FFO) is a higher quality measure of COVH's earnings compared to net income … This term is very common in the REIT investing world as it provides a cleaner look at its cash flow from daily operations by excluding impact of one-off activities or non-cash items such as depreciation.

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What Kind Of Shareholders Own Covivio Hotels (EPA:COVH)?

A look at the shareholders of Covivio Hotels (EPA:COVH) can tell us which group is most powerful. … Covivio Hotels has a market capitalization of €2.9b, so it's too big to fly under the radar. … See our latest analysis for Covivio Hotels

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Based On Its ROE, Is Covivio Hotels (EPA:COVH) A High Quality Stock?

While some investors are already well versed in financial metrics (hat tip), this article is for those who would like to learn about Return On Equity (ROE) and why it is important. … Our data shows Covivio Hotels has a return on equity of 7.0% for the last year. … Return on Equity = Net Profit ÷ Shareholders' Equity

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Company Info

Description

Covivio Hotels, a subsidiary of Covivio, is today the leader of the investment in hotel real estate in Europe. With more than 400 million of hotels in its portfolio, valuated €6 billion (at 100% end of 2018), Covivio Hotels is the real estate partner of leading hotel operators in France and in Europe.

Details
Name: Covivio Hotels
COVH
Exchange: ENXTPA
Founded: 2004
€3,146,826,618
121,031,793
Website: http://www.covivio-hotels.fr
Address: Covivio Hotels
10 Avenue Kléber,
Cedex 16,
Paris,
Languedoc-Roussillon, 75208,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA COVH Common Shares Euronext Paris FR EUR 02. Jan 1992
LSE 0IS8 Common Shares London Stock Exchange GB EUR 02. Jan 1992
BATS-CHIXE FMUP Common Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
Number of employees
Current staff
Staff numbers
25
Covivio Hotels employees.
Industry
Hotel and Resort REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/26 21:06
End of day share price update: 2019/06/26 00:00
Last estimates confirmation: 2017/02/22
Last earnings filing: 2019/03/08
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.