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Klépierre ENXTPA:LI Stock Report

Last Price


Market Cap







28 Jun, 2022


Company Financials +
LI fundamental analysis
Snowflake Score
Future Growth1/6
Past Performance1/6
Financial Health1/6

LI Stock Overview

Klépierre is the European leader in shopping malls, combining property development and asset management skills.

Klépierre Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Klépierre
Historical stock prices
Current Share Price€20.70
52 Week High€26.88
52 Week Low€17.93
1 Month Change-3.99%
3 Month Change-16.83%
1 Year Change-3.50%
3 Year Change-30.35%
5 Year Change-42.00%
Change since IPO315.33%

Recent News & Updates

Shareholder Returns


Return vs Industry: LI exceeded the French REITs industry which returned -16.3% over the past year.

Return vs Market: LI exceeded the French Market which returned -11% over the past year.

Price Volatility

Is LI's price volatile compared to industry and market?
LI volatility
LI Average Weekly Movement6.5%
REITs Industry Average Movement3.6%
Market Average Movement5.0%
10% most volatile stocks in FR Market9.2%
10% least volatile stocks in FR Market2.9%

Stable Share Price: LI is more volatile than 75% of French stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: LI's weekly volatility (7%) has been stable over the past year, but is still higher than 75% of French stocks.

About the Company

19681,036Jean-March Jestin

Klépierre is the European leader in shopping malls, combining property development and asset management skills. The Company’s portfolio is valued at €20.7 billion at December 31, 2021, and comprises large shopping centers in more than 10 countries in Continental Europe which together host hundreds of millions of visitors per year. Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia’s number one shopping center owner and manager.

Klépierre Fundamentals Summary

How do Klépierre's earnings and revenue compare to its market cap?
LI fundamental statistics
Market Cap€5.91b
Earnings (TTM)€544.70m
Revenue (TTM)€1.41b


P/E Ratio


P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
LI income statement (TTM)
Cost of Revenue€370.90m
Gross Profit€1.04b
Other Expenses€493.60m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Jul 26, 2022

Earnings per share (EPS)1.91
Gross Margin73.68%
Net Profit Margin38.65%
Debt/Equity Ratio82.4%

How did LI perform over the long term?

See historical performance and comparison



Current Dividend Yield


Payout Ratio
We’ve recently updated our valuation analysis.


Is LI undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score


Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for LI?

Other financial metrics that can be useful for relative valuation.

LI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue11.7x
Enterprise Value/EBITDA18.9x
PEG Ratio1.1x

Price to Earnings Ratio vs Peers

How does LI's PE Ratio compare to its peers?

LI PE Ratio vs Peers
The above table shows the PE ratio for LI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average15.3x
CARM Carmila
MERY Mercialys
SELER Selectirente
LI Klépierre

Price-To-Earnings vs Peers: LI is good value based on its Price-To-Earnings Ratio (10.8x) compared to the peer average (15.4x).

Price to Earnings Ratio vs Industry

How does LI's PE Ratio compare vs other companies in the FR REITs Industry?

Price-To-Earnings vs Industry: LI is expensive based on its Price-To-Earnings Ratio (10.8x) compared to the French REITs industry average (9.3x)

Price to Earnings Ratio vs Fair Ratio

What is LI's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

LI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.8x
Fair PE Ratio13.9x

Price-To-Earnings vs Fair Ratio: LI is good value based on its Price-To-Earnings Ratio (10.8x) compared to the estimated Fair Price-To-Earnings Ratio (13.9x).

Share Price vs Fair Value

What is the Fair Price of LI when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: LI (€20.7) is trading below our estimate of fair value (€40.64)

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

Price to Earnings Growth Ratio

PEG Ratio: LI is poor value based on its PEG Ratio (1.1x)

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Future Growth

How is Klépierre forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

Future Growth Score


Future Growth Score 1/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: LI's forecast earnings growth (10.2% per year) is above the savings rate (0.3%).

Earnings vs Market: LI's earnings (10.2% per year) are forecast to grow slower than the French market (11.7% per year).

High Growth Earnings: LI's earnings are forecast to grow, but not significantly.

Revenue vs Market: LI's revenue is expected to decline over the next 3 years (-8% per year).

High Growth Revenue: LI's revenue is forecast to decline over the next 3 years (-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 (8.4%).

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Past Performance

How has Klépierre performed over the past 5 years?

Past Performance Score


Past Performance Score 1/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: LI has a large one-off loss of €495.7M impacting its December 31 2021 financial results.

Growing Profit Margin: LI became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: LI's earnings have declined by 52.6% per year over the past 5 years.

Accelerating Growth: LI has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: LI has become profitable in the last year, making it difficult to compare its past year earnings growth to the REITs industry (77.2%).

Return on Equity

High ROE: LI's Return on Equity (5.4%) is considered low.

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Financial Health

How is Klépierre's financial position?

Financial Health Score


Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: LI's short term assets (€1.2B) do not cover its short term liabilities (€2.8B).

Long Term Liabilities: LI's short term assets (€1.2B) do not cover its long term liabilities (€8.4B).

Debt to Equity History and Analysis

Debt Level: LI's net debt to equity ratio (76.3%) is considered high.

Reducing Debt: LI's debt to equity ratio has increased from 74.7% to 82.4% over the past 5 years.

Debt Coverage: LI's debt is not well covered by operating cash flow (9.9%).

Interest Coverage: LI's interest payments on its debt are well covered by EBIT (8.7x coverage).

Balance Sheet

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

Dividend Score


Dividend Score 5/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Future Dividend Coverage


Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: LI's dividend (8.21%) is higher than the bottom 25% of dividend payers in the French market (1.81%).

High Dividend: LI's dividend (8.21%) is in the top 25% of dividend payers in the French market (5.43%)

Stability and Growth of Payments

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

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

Earnings Payout to Shareholders

Earnings Coverage: With its low payout ratio (18.1%), LI's dividend payments are well covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (56.5%), LI's dividend payments are covered by cash flows.

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


Average management tenure


Jean-March Jestin (52 yo)





Mr. Jean-March Jestin has been Chairman of the Executive Board at Klépierre (formerly known as Klepierre) since November 07, 2016, after serving as Chief Operating Officer and has been its Member of Execut...

CEO Compensation Analysis

Compensation vs Market: Jean-March's total compensation ($USD2.52M) is about average for companies of similar size in the French market ($USD2.56M).

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

Leadership Team

Experienced Management: LI's management team is considered experienced (4.4 years average tenure).

Board Members

Experienced Board: LI's board of directors are considered experienced (7.5 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.

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Company Information

Klépierre's employee growth, exchange listings and data sources

Key Information

  • Name: Klépierre
  • Ticker: LI
  • Exchange: ENXTPA
  • Founded: 1968
  • Industry: Retail REITs
  • Sector: Real Estate
  • Implied Market Cap: €5.907b
  • Shares outstanding: 285.38m
  • Website:

Number of Employees


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


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/06/28 00:00
End of Day Share Price2022/06/28 00:00
Annual Earnings2021/12/31

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.