ENXTPA:CNV

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Cnova N.V. operates as an e-commerce company in France and Western Europe. More Details


Snowflake Analysis

Slightly overvalued with imperfect balance sheet.


Similar Companies

Share Price & News

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


Latest Share Price and Events

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


Market Performance


7 Day Return

-9.2%

CNV

5.2%

FR Online Retail

-0.6%

FR Market


1 Year Return

0%

CNV

23.6%

FR Online Retail

-7.9%

FR Market

Return vs Industry: CNV underperformed the French Online Retail industry which returned 24.2% over the past year.

Return vs Market: CNV exceeded the French Market which returned -7.8% over the past year.


Shareholder returns

CNVIndustryMarket
7 Day-9.2%5.2%-0.6%
30 Day-10.5%12.8%4.1%
90 Day-28.3%19.8%0.9%
1 Year0%0%39.3%23.6%-5.9%-7.9%
3 Year-48.3%-48.3%-47.0%-65.4%4.8%-4.2%
5 Year-13.1%-13.1%-44.7%-68.9%30.2%12.3%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Cnova 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: CNV (€2.38) is trading below our estimate of fair value (€12.37)

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


Price To Earnings Ratio

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

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


Price to Book Ratio

PB vs Industry: CNV has negative assets, so we can't compare its PB Ratio to the FR Online Retail industry average.


Next Steps

Future Growth

How is Cnova forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

27.8%

Forecasted Retail 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 Cnova 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 Cnova performed over the past 5 years?

14.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CNV is currently unprofitable.

Growing Profit Margin: CNV is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CNV is unprofitable, but has reduced losses over the past 5 years at a rate of 14.7% per year.

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

Earnings vs Industry: CNV is unprofitable, making it difficult to compare its past year earnings growth to the Online Retail industry (-0.6%).


Return on Equity

High ROE: CNV's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Next Steps

Financial Health

How is Cnova's financial position?


Financial Position Analysis

Short Term Liabilities: CNV has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: CNV has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: CNV has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: CNV's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: Whilst unprofitable CNV has sufficient cash runway for more than 3 years if it maintains its current positive free cash flow level.

Forecast Cash Runway: CNV is unprofitable but has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by 1.6% per year.


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate CNV's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CNV's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CNV's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CNV's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CNV's dividend in 3 years as they are not forecast to pay a notable one for the French market.


Next Steps

Management

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

4.6yrs

Average management tenure


CEO

Emmanuel Grenier (49 yo)

4.75yrs

Tenure

€1,211,900

Compensation

Mr. Emmanuel Grenier is Chairman and Chief Executive Officer of Cdiscount at Casino, Guichard-Perrachon Société Anonyme. He has been the Chief Executive Officer of Cnova N.V. since January 21, 2016 and ser ...


CEO Compensation Analysis

Compensation vs Market: Emmanuel's total compensation ($USD1.43M) is above average for companies of similar size in the French market ($USD675.35K).

Compensation vs Earnings: Emmanuel's compensation has increased whilst the company is unprofitable.


Leadership Team

NamePositionTenureCompensationOwnership
Emmanuel Grenier
CEO & Executive Director4.75yrs€1.21mno data
Gautier Bailly
Group Chief Financial Officer1.92yrsno datano data
Emmanuel Wetzel
In Charge of Investor Relationsno datano datano data
Pascal Rivet
Chief Compliance Officer4.58yrsno datano data
Steven Geers
General Counsel4.58yrsno datano data

4.6yrs

Average Tenure

44.5yo

Average Age

Experienced Management: CNV's management team is considered experienced (4.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Emmanuel Grenier
CEO & Executive Director4.75yrs€1.21mno data
Ronaldo dos Santos Pereira
Independent Vice-Chairmanno data€27.00kno data
Eleazar de Carvalho Filho
Independent Non Executive Director6yrs€50.00kno data
Bernard Roger Oppetit
Independent Non Executive Director5.92yrs€93.00kno data
Silvio Genesini Junior
Independent Non Executive Director5.83yrs€107.00kno data
Arnaud Daniel Charles Walter Joachim Strasser
Independent Non Executive Director6.42yrs€27.00kno data
Christophe José Hidalgo
Independent Non-Executive Director3.75yrs€10.00kno data
Jean-Yves Haagen
Independent Chairman1.92yrs€10.00kno data
Josseline de Clausade
Director0.33yrno datano data

5.3yrs

Average Tenure

59.5yo

Average Age

Experienced Board: CNV's board of directors are considered experienced (5.3 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 not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Cnova N.V.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Cnova N.V.
  • Ticker: CNV
  • Exchange: ENXTPA
  • Founded: 1998
  • Industry: Internet and Direct Marketing Retail
  • Sector: Retail
  • Market Cap: €821.601m
  • Shares outstanding: 345.21m
  • Website: https://www.cnova.com

Number of Employees


Location

  • Cnova N.V.
  • Strawinskylaan 3051
  • Amsterdam
  • Noord-Holland
  • 1077 ZX
  • Netherlands

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
CNVA.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 2014
0RABLSE (London Stock Exchange)YesOrdinary SharesGBEURNov 2014
CNVENXTPA (Euronext Paris)YesOrdinary SharesFREURNov 2014
CNVPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURNov 2014

Biography

Cnova N.V. operates as an e-commerce company in France and Western Europe. The company offers home appliances, consumer electronics, computers, home furnishings, and leisure and personal goods through its ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/10/24 22:42
End of Day Share Price2020/10/23 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.