ENXTPA:FLY

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Société Foncière Lyonnaise

Executive Summary

Leader in the prime segment of the Parisian commercial real estate market, Société Foncière Lyonnaise stands out for the quality of its property portfolio, which is valued at €7.2 billion and is focused on the Central Business District of Paris (#cloud.paris, Edouard VII, Washington Plaza, etc.), and for the quality of its client portfolio, which is composed of prestigious companies in the consulting, media, digital, luxury, finance and insurance sectors. More Details


Snowflake Analysis

Mediocre balance sheet with acceptable track record.


Similar Companies

Share Price & News

How has Société Foncière Lyonnaise's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: FLY's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-4.7%

FLY

-5.1%

FR REITs

-1.7%

FR Market


1 Year Return

-15.1%

FLY

-35.6%

FR REITs

-8.0%

FR Market

Return vs Industry: FLY exceeded the French REITs industry which returned -35.6% over the past year.

Return vs Market: FLY underperformed the French Market which returned -8% over the past year.


Shareholder returns

FLYIndustryMarket
7 Day-4.7%-5.1%-1.7%
30 Day-13.9%-7.8%1.5%
90 Day-16.9%-15.8%0.6%
1 Year-11.7%-15.1%-31.1%-35.6%-6.0%-8.0%
3 Year16.1%2.7%-23.2%-35.1%6.9%-2.3%
5 Year81.0%46.5%-2.5%-27.1%42.3%22.9%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Société Foncière Lyonnaise undervalued compared to its fair value and its price relative to the market?

5.89x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: FLY (€57.2) is trading above our estimate of fair value (€51.88)

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


Price To Earnings Ratio

PE vs Industry: FLY is good value based on its PE Ratio (5.9x) compared to the FR REITs industry average (7.7x).

PE vs Market: FLY is good value based on its PE Ratio (5.9x) compared to the French market (17x).


Price to Earnings Growth Ratio

PEG Ratio: FLY's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: FLY's PB Ratio (0.6x) is in line with the FR REITs industry average.


Next Steps

Future Growth

How is Société Foncière Lyonnaise forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

-35.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: FLY's earnings are forecast to decline over the next 3 years (-35.6% per year).

Earnings vs Market: FLY's earnings are forecast to decline over the next 3 years (-35.6% per year).

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

Revenue vs Market: FLY's revenue (1.5% per year) is forecast to grow slower than the French market (6.7% per year).

High Growth Revenue: FLY's revenue (1.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

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


Next Steps

Past Performance

How has Société Foncière Lyonnaise performed over the past 5 years?

0.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: FLY has a large one-off gain of €335.2M impacting its June 30 2020 financial results.

Growing Profit Margin: FLY's current net profit margins are higher than last year .


Past Earnings Growth Analysis

Earnings Trend: FLY's earnings have grown by 0.5% per year over the past 5 years.

Accelerating Growth: FLY's earnings growth over the past year (10.8%) exceeds its 5-year average (0.5% per year).

Earnings vs Industry: FLY earnings growth over the past year (10.8%) underperformed the REITs industry 13.2%.


Return on Equity

High ROE: FLY's Return on Equity (9.4%) is considered low.


Next Steps

Financial Health

How is Société Foncière Lyonnaise's financial position?


Financial Position Analysis

Short Term Liabilities: FLY's short term assets (€370.3M) exceed its short term liabilities (€355.0M).

Long Term Liabilities: FLY's short term assets (€370.3M) do not cover its long term liabilities (€2.2B).


Debt to Equity History and Analysis

Debt Level: FLY's debt to equity ratio (43.8%) is considered high.

Reducing Debt: FLY's debt to equity ratio has reduced from 66% to 43.8% over the past 5 years.

Debt Coverage: FLY's debt is not well covered by operating cash flow (5.4%).

Interest Coverage: FLY's interest payments on its debt are well covered by EBIT (5.8x coverage).


Balance Sheet


Next Steps

Dividend

What is Société Foncière Lyonnaise current dividend yield, its reliability and sustainability?

4.63%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: FLY's dividend (4.63%) is higher than the bottom 25% of dividend payers in the French market (1.54%).

High Dividend: FLY's dividend (4.63%) is low compared to the top 25% of dividend payers in the French market (5.05%).


Stability and Growth of Payments

Stable Dividend: FLY's dividend payments have been volatile in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (103.5%), FLY's dividend payments are not 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

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

5.7yrs

Average management tenure


CEO

Nicolas Reynaud (58 yo)

5.67yrs

Tenure

€1,364,490

Compensation

Mr. Nicolas Reynaud has been the Chief Executive Officer at Societe Fonciere Lyonnaise since January 27, 2015. Mr. Reynaud served as Chief Financial Officer and Managing Director of Societe Fonciere Lyonna ...


CEO Compensation Analysis

Compensation vs Market: Nicolas's total compensation ($USD1.61M) is about average for companies of similar size in the French market ($USD1.62M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Nicolas Reynaud
Chief Executive Officer5.67yrs€1.36mno data
Dimitri Boulte
MD & COO9.67yrs€1.04mno data
Fabienne Boileau
Chief Financial Officer5.67yrsno datano data
Aude Grant
Deputy Managing Director of Asset Management & Investments4.67yrsno datano data
Eric Oudard
Technical & Development Director6.67yrsno datano data
Fabrice Ruchaud
Chief Information Officer2.58yrsno datano data
Emilie Germane
Legal Director0.67yrno datano data
François Derrian
Human Resources Director17.67yrsno datano data
François Sebillotte
Secretary General & Secretary to the Board9.67yrs€126.50kno data

5.7yrs

Average Tenure

50yo

Average Age

Experienced Management: FLY's management team is seasoned and experienced (5.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Juan José Brugera Clavero
Chairman of the Board10.67yrs€370.00k0.044%
€ 1.2m
Anthony Wyand
Independent Honorary Chairmanno data€67.00k0.00022%
€ 5.8k
Carmina Ganyet I. Cirera
Director11.17yrs€60.00k0.000060%
€ 1.6k
Henri Katz
Honorary Chairmanno datano datano data
Yves Defline
Honorary Chairman18.67yrs€24.00kno data
Pedro Viñolas Serra
Vice-Chairmanno data€60.00k0.011%
€ 304.6k
Jean-Jacques Duchamp
Director16.67yrsno data0.000050%
€ 1.3k
Carlos Fernández-Lerga Garralda
Director12.17yrs€70.00k0.00011%
€ 2.9k
Luis Maluquer Trepat
Director10.25yrs€38.00k0.00086%
€ 22.8k
Àngels Arderiu Ibars
Director6.42yrs€35.00k0.000050%
€ 1.3k
Carlos Krohmer
Director6.42yrs€38.00k0.000060%
€ 1.6k
Chantal Du Rivau
Director6.67yrsno data0.000060%
€ 1.6k

10.7yrs

Average Tenure

64yo

Average Age

Experienced Board: FLY's board of directors are seasoned and experienced ( 10.7 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Société Foncière Lyonnaise SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Société Foncière Lyonnaise SA
  • Ticker: FLY
  • Exchange: ENXTPA
  • Founded: 1879
  • Industry: Office REITs
  • Sector: Real Estate
  • Market Cap: €2.651b
  • Shares outstanding: 46.35m
  • Website: https://www.fonciere-lyonnaise.com

Number of Employees


Location

  • Société Foncière Lyonnaise SA
  • 42, rue Washington
  • Paris
  • Languedoc-Roussillon
  • 75008
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FLYENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1992
0IXYLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
FLYPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992

Biography

Leader in the prime segment of the Parisian commercial real estate market, Société Foncière Lyonnaise stands out for the quality of its property portfolio, which is valued at €7.2 billion and is focused on ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/22 03:51
End of Day Share Price2020/09/21 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.