ENXTPA:LI

Stock Analysis Report

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Executive Summary

Klépierre, the European leader in shopping malls, combines development, property and asset management skills. More Details


Snowflake Analysis

6 star dividend payer and fair value.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-13.2%

LI

-3.1%

FR REITs

-0.6%

FR Market


1 Year Return

-62.1%

LI

-35.4%

FR REITs

-7.7%

FR Market

Return vs Industry: LI underperformed the French REITs industry which returned -33.8% over the past year.

Return vs Market: LI underperformed the French Market which returned -7.2% over the past year.


Shareholder returns

LIIndustryMarket
7 Day-13.2%-3.1%-0.6%
30 Day-18.3%-7.1%2.0%
90 Day-35.1%-15.5%1.5%
1 Year-57.9%-62.1%-31.0%-35.4%-5.7%-7.7%
3 Year-55.9%-65.1%-21.3%-34.2%8.5%-0.9%
5 Year-61.4%-72.1%-2.5%-27.1%40.7%21.7%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

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

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: LI (€11.42) is trading below our estimate of fair value (€50.76)

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


Price To Earnings Ratio

PE vs Industry: LI is unprofitable, so we can't compare its PE Ratio to the FR REITs industry average.

PE vs Market: LI 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 LI's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: LI is good value based on its PB Ratio (0.4x) compared to the FR REITs industry average (0.7x).


Next Steps

Future Growth

How is Klépierre forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

80.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LI is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.6%).

Earnings vs Market: LI is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: LI's is expected to become profitable in the next 3 years.

Revenue vs Market: LI's revenue is expected to decline over the next 3 years (-0.8% per year).

High Growth Revenue: LI's revenue is forecast to decline over the next 3 years (-0.8% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LI's Return on Equity is forecast to be low in 3 years time (8.3%).


Next Steps

Past Performance

How has Klépierre performed over the past 5 years?

-2.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LI is currently unprofitable.

Growing Profit Margin: LI is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: LI is unprofitable, and losses have increased over the past 5 years at a rate of 2% per year.

Accelerating Growth: Unable to compare LI's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: LI is unprofitable, making it difficult to compare its past year earnings growth to the REITs industry (13.2%).


Return on Equity

High ROE: LI has a negative Return on Equity (-0.43%), as it is currently unprofitable.


Next Steps

Financial Health

How is Klépierre's financial position?


Financial Position Analysis

Short Term Liabilities: LI's short term assets (€1.5B) do not cover its short term liabilities (€4.0B).

Long Term Liabilities: LI's short term assets (€1.5B) do not cover its long term liabilities (€9.1B).


Debt to Equity History and Analysis

Debt Level: LI's debt to equity ratio (89.1%) is considered high.

Reducing Debt: LI's debt to equity ratio has reduced from 136.4% to 89.1% over the past 5 years.

Debt Coverage: LI's debt is not well covered by operating cash flow (7.8%).

Interest Coverage: LI is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet


Next Steps

Dividend

What is Klépierre current dividend yield, its reliability and sustainability?

19.27%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: LI's dividend (19.27%) is higher than the bottom 25% of dividend payers in the French market (1.54%).

High Dividend: LI's dividend (19.27%) is in the top 25% of dividend payers in the French market (5.01%)


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (80.6%), LI's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: LI's dividends in 3 years are forecast to be covered by earnings (70.6% payout ratio).


Next Steps

Management

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

3.7yrs

Average management tenure


CEO

Jean-March Jestin (51 yo)

3.83yrs

Tenure

€2,429,419

Compensation

Mr. Jean-March Jestin has been Chairman of the Klepierre Executive Board since November 2016, after serving as Chief Operating Officer and Member of the Klepierre Executive Board since October 2012. Previo ...


CEO Compensation Analysis

Compensation vs Market: Jean-March's total compensation ($USD2.87M) is above average for companies of similar size in the French market ($USD1.61M).

Compensation vs Earnings: Jean-March's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Jean-March Jestin
Chairman of the Executive Board3.83yrs€2.43m0.030%
€ 971.2k
Jean-Michel Gault
Deputy CEO & Member of Executive Board15.25yrs€1.71m0.025%
€ 818.5k
Benat Ortega
Chief Operating Officer3.83yrsno datano data
Cyrille Deslandes
Chief Investment Officer2.67yrsno datano data
Hubert d'AILLIÈRES
Group Head of Investor Relations & Financial Communicationno datano datano data
Nathalie Garnier
Chief Legal Officerno datano datano data
Michaël Farbos
Chief Development Officer3.67yrsno datano data
Sonia Torti
Head of Marketing Arcades / Franceno datano datano data
Gilles Latini
Head of Southeast Developmentno datano datano data
Barthelemy Doat
Managing Director for France-Belgium2.67yrsno datano data
Hélène Salmon
Group Head of Corporate & Internal Communicationsno datano datano data
Marie Caniac
Head of Leasing2yrsno datano data

3.7yrs

Average Tenure

Experienced Management: LI's management team is considered experienced (3.7 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
David Simon
Non Independent Supervisory Board Chairman8.5yrs€98.12k0.000020%
€ 651.2
Steven Fivel
Not Independent Supervisory Board Member8.5yrs€103.69k0.000020%
€ 651.2
Catherine Simoni
Independent Supervisory Board Member7.75yrs€93.35k0.000020%
€ 651.2
John Carrafiell
Independent Supervisory Board Member5.75yrs€69.23k0.000020%
€ 651.2
Robert Fowlds
Not Independent Supervisory Board Member2.42yrs€54.12k0.000040%
€ 1.3k
Stanley Shashoua
Not Independent Supervisory Board Member5.42yrs€74.80k0.000020%
€ 651.2
Rose-Marie Van Lerberghe
Independent Vice Chairwoman of the Board3.67yrs€86.46k0.000040%
€ 1.3k
Florence von Erb
Independent Supervisory Board Member4.58yrs€54.12k0.000050%
€ 1.6k
Beatrice de Clermont-Tonerre
Independent Supervisory Board Member4.42yrs€50.67k0.000020%
€ 651.2

5.4yrs

Average Tenure

58yo

Average Age

Experienced Board: LI's board of directors are considered experienced (5.4 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

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


Key Information

  • Name: Klépierre SA
  • Ticker: LI
  • Exchange: ENXTPA
  • Founded: 1968
  • Industry: Retail REITs
  • Sector: Real Estate
  • Market Cap: €3.256b
  • Shares outstanding: 285.23m
  • Website: https://www.klepierre.com

Number of Employees


Location

  • Klépierre SA
  • 26 boulevard des Capucines
  • CS 20062
  • Paris
  • Ile-de-France
  • 75009
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KLPE.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
LIENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1992
KPRDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
0F4ILSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
LIPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992

Biography

Klépierre, the European leader in shopping malls, combines development, property and asset management skills. The company’s portfolio is valued at €22.8 billion at June 30, 2020 and comprises large shoppin ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/09/20 02:53
End of Day Share Price2020/09/18 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.