ENXTPA:ATE

Stock Analysis Report

Executive Summary

Alten SA operates as an engineering and technology consultancy company primarily in France, North America, Germany, Scandinavia, Spain, the United Kingdom, Italy, Belgium, the Netherlands, and the Asia-Pacific.

Snowflake

Fundamentals

Excellent balance sheet with acceptable track record.


Similar Companies

Share Price & News

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


Latest Share Price and Events


Market Performance


7 Day Return

-1.6%

ENXTPA:ATE

-0.3%

FR IT

-0.02%

FR Market


1 Year Return

8.4%

ENXTPA:ATE

-18.3%

FR IT

-1.2%

FR Market

ATE outperformed the IT industry which returned -19.1% over the past year.

ATE outperformed the Market in France which returned -2.5% over the past year.


Share holder returns

ATEIndustryMarket
7 Day-1.6%-0.3%-0.02%
30 Day4.2%-0.5%-0.9%
90 Day1.6%-3.2%-0.3%
1 Year9.6%8.4%-12.3%-18.3%2.1%-1.2%
3 Year80.3%75.9%39.3%25.1%45.0%30.8%
5 Year187.6%169.3%94.2%64.7%54.7%28.6%

Price Volatility Vs. Market

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


Simply Wall St News

Valuation

Is Alten undervalued based on future cash flows and its price relative to the stock market?

20.42x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

Alten's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Alten's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Alten is overvalued based on earnings compared to the FR IT industry average.

Alten is overvalued based on earnings compared to the France market.


Price Based on Expected Growth

Alten is poor value based on expected growth next year.


Price Based on Value of Assets

Alten is overvalued based on assets compared to the FR IT industry average.


Next Steps

Future Growth

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

9.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Alten's revenue is expected to grow by 7.3% yearly, however this is not considered high growth (20% yearly).

Alten's earnings are expected to grow by 9.4% yearly, however this is not considered high growth (20% yearly).

Alten's revenue growth is expected to exceed the France market average.

Alten's earnings growth is positive but not above the France market average.

Alten's earnings growth is expected to exceed the low risk savings rate of 0.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Alten is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Alten performed over the past 5 years?

16.5%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Alten's year on year earnings growth rate has been positive over the past 5 years.

Alten's 1-year earnings growth is less than its 5-year average (7.4% vs 16.5%)

Alten's earnings growth has exceeded the FR IT industry average in the past year (7.4% vs 6.6%).


Return on Equity

Alten has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

Alten used its assets more efficiently than the FR IT industry average last year based on Return on Assets.


Return on Capital Employed

Alten's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).


Next Steps

Financial Health

How is Alten's financial position?


Financial Position Analysis

Alten is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Alten's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Alten's level of debt (11.1%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has increased over the past 5 years (1.2% vs 11.1% today).

Debt is well covered by operating cash flow (92%, greater than 20% of total debt).

Interest payments on debt are well covered by earnings (EBIT is 189.6x coverage).


Balance Sheet

Low level of unsold assets.

Debt is covered by short term assets, assets are 9.7x debt.


Next Steps

Dividend

What is Alten's current dividend yield, its reliability and sustainability?

1.12%

Expected Dividend Yield


Upcoming Dividend Payment

Purchase Alten before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield and Payments Analysis

Alten's pays a lower dividend yield than the bottom 25% of dividend payers in France (1.54%).

Alten's dividend is below the markets top 25% of dividend payers in France (4.41%).

Whilst dividend payments have been stable, Alten has been paying a dividend for less than 10 years.

Dividend payments have increased, but Alten only paid a dividend in the past 9 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (4.7x coverage).


Future Payout to Shareholders

Dividends after 3 years are expected to be well covered by earnings (5.8x coverage).


Next Steps

Management

What is the CEO of Alten's salary, the management and board of directors tenure and is there insider trading?

13.5yrs

Average management tenure


CEO

Simon Azoulay (62yo)

20.8yrs

Tenure

€575,811

Compensation

Mr. Simon Azoulay has been Manager of ABILOG Appointment Decision since April, 1996. Mr. Azoulay serves as Manager of Alten Benelux, Axen, Alten UK, Alten Esp and Sd Partners. He has been the Chairman and  ...


CEO Compensation Analysis

Simon's remuneration is lower than average for companies of similar size in France.

Simon's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

13.5yrs

Average Tenure

56.5yo

Average Age

The average tenure for the Alten management team is over 5 years, this suggests they are a seasoned and experienced team.


Board Age and Tenure

5.0yrs

Average Tenure

61yo

Average Age

The tenure for the Alten board of directors is about average.


Insider Trading

No 3 month insider trading information.


Ownership Breakdown


Management Team

  • Olivier Granger

    Chief Operating Officer

  • Pierre Marcel (57yo)

    Deputy Chief Executive Officer of ALTEN France & Solutions subsidiaries

    • Tenure: 6.4yrs
    • Compensation: €328.66k
  • Pierre Bonhomme

    Executive Vice President of Alten Technology France

    • Tenure: 2.6yrs
  • V. Ignacio

    Managing Director of ALTEN - Madrid

  • Stéphane Ougier

    Executive Vice President of ALTEN Technology France & Solutions Subsidiaries

  • Luc Dallery

    Head of Human Resources

  • Simon Azoulay (62yo)

    Chairman & CEO

    • Tenure: 20.8yrs
    • Compensation: €575.81k
  • Gualtiero Bazzana

    CEO & MD of ALTEN Italia

  • Gérald Attia (56yo)

    Deputy CEO & Director

    • Tenure: 20.5yrs
    • Compensation: €291.42k
  • Bruno Benoliel (54yo)

    Deputy Chief Executive Officer

    • Compensation: €334.72k

Board Members

  • Aliette Mardyks (62yo)

    Independent Director

    • Tenure: 2.0yrs
    • Compensation: €9.00k
  • Marwane Metioui (43yo)

    Director Representating Employees

    • Tenure: 1.5yrs
  • Emily Azoulay (70yo)

    Director

    • Tenure: 8.0yrs
    • Compensation: €8.00k
  • Philippe Tribaudeau (57yo)

    Independent Director

    • Tenure: 3.1yrs
    • Compensation: €10.50k
  • Evelyne Feldman (61yo)

    Independent Director

    • Tenure: 3.1yrs
    • Compensation: €15.00k
  • Jane Seroussi (52yo)

    Director

    • Tenure: 5.0yrs
    • Compensation: €8.00k
  • Simon Azoulay (62yo)

    Chairman & CEO

    • Tenure: 20.8yrs
    • Compensation: €575.81k
  • Gérald Attia (56yo)

    Deputy CEO & Director

    • Tenure: 21.4yrs
    • Compensation: €291.42k
  • Marc Eisenberg (63yo)

    Independent Director

    • Tenure: 5.0yrs
    • Compensation: €6.00k

Company Information

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


Key Information

  • Name: Alten SA
  • Ticker: ATE
  • Exchange: ENXTPA
  • Founded: 1988
  • Industry: it consulting and other services
  • Sector: software
  • Market Cap: €3.231b
  • Shares outstanding: 33.43m
  • Website: Click here

Number of Employees


Location

  • Alten SA
  • 40, avenue André Morizet
  • Cedex
  • Boulogne-Billancourt
  • Ile-de-France
  • 92513
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AN3DB (Deutsche Boerse AG)YesCommon SharesDEEURJan 1970
ATEENXTPA (Euronext Paris)YesCommon SharesFREURJan 1970
0O1SLSE (London Stock Exchange)YesCommon SharesGBEURJan 1970
ATEPBATS-CHIXE (BATS 'Chi-X Europe')YesCommon SharesGBEURJan 1970

Biography

Alten SA operates as an engineering and technology consultancy company primarily in France, North America, Germany, Scandinavia, Spain, the United Kingdom, Italy, Belgium, the Netherlands, and the Asia-Pac ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/06/17 20:48
End of Day Share Price2019/06/17 00:00
Earnings2018/12/31
Annual Earnings2018/12/31


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.