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Dalet

ENXTPA:DLT
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DLT
ENXTPA
€39M
Market Cap
  1. Home
  2. FR
  3. Software
Company description

Dalet S.A. provides solutions and services that enable media organizations to create, manage, and distribute content worldwide. The last earnings update was 203 days ago. More info.


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DLT Share Price and Events
7 Day Returns
0%
ENXTPA:DLT
2%
FR Software
1.7%
FR Market
1 Year Returns
-26.7%
ENXTPA:DLT
20.3%
FR Software
3.7%
FR Market
DLT Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Dalet (DLT) 0% -0.9% -10.6% -26.7% 73.2% 47.1%
FR Software 2% 3.6% 19.8% 20.3% 88.6% 171.7%
FR Market 1.7% 2.9% 14.3% 3.7% 28.6% 32.6%
1 Year Return vs Industry and Market
  • DLT underperformed the Software industry which returned 20.3% over the past year.
  • DLT underperformed the Market in France which returned 3.7% over the past year.
Price Volatility
DLT
Industry
5yr Volatility vs Market
Related Companies

Value

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

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Dalet to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Dalet.

ENXTPA:DLT Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 1 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.3%
Perpetual Growth Rate 10-Year FR Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTPA:DLT
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.7%
Software Unlevered Beta Simply Wall St/ S&P Global 1.13
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.134 (1 + (1- 33%) (10.64%))
1.144
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (1.144 * 6.65%)
8.34%

Discounted Cash Flow Calculation for ENXTPA:DLT using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Dalet is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ENXTPA:DLT DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.34%)
2019 1.80 Analyst x1 1.66
2020 2.20 Analyst x1 1.87
2021 2.51 Est @ 14.19% 1.98
2022 2.77 Est @ 10.15% 2.01
2023 2.97 Est @ 7.33% 1.99
2024 3.13 Est @ 5.35% 1.94
2025 3.25 Est @ 3.96% 1.86
2026 3.35 Est @ 2.99% 1.77
2027 3.43 Est @ 2.32% 1.67
2028 3.49 Est @ 1.84% 1.57
Present value of next 10 years cash flows €18.30
ENXTPA:DLT DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €3.49 × (1 + 0.73%) ÷ (8.34% – 0.73%)
€46.24
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €46.24 ÷ (1 + 8.34%)10
€20.76
ENXTPA:DLT Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €18.30 + €20.76
€39.06
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €39.06 / 3.58
€10.92
ENXTPA:DLT Discount to Share Price
Calculation Result
Value per share (EUR) From above. €10.92
Current discount Discount to share price of €11.00
= -1 x (€11.00 - €10.92) / €10.92
-0.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Dalet is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Dalet's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Dalet's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:DLT PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in EUR €0.50
ENXTPA:DLT Share Price ** ENXTPA (2019-04-18) in EUR €11
France Software Industry PE Ratio Median Figure of 23 Publicly-Listed Software Companies 24.65x
France Market PE Ratio Median Figure of 419 Publicly-Listed Companies 16.44x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Dalet.

ENXTPA:DLT PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:DLT Share Price ÷ EPS (both in EUR)

= 11 ÷ 0.50

21.8x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dalet is good value based on earnings compared to the FR Software industry average.
  • Dalet is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does Dalet's expected growth come at a high price?
Raw Data
ENXTPA:DLT PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 21.8x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
8%per year
France Software Industry PEG Ratio Median Figure of 15 Publicly-Listed Software Companies 2.54x
France Market PEG Ratio Median Figure of 273 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

ENXTPA:DLT PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 21.8x ÷ 8%

2.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dalet is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Dalet's assets?
Raw Data
ENXTPA:DLT PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in EUR €3.98
ENXTPA:DLT Share Price * ENXTPA (2019-04-18) in EUR €11
France Software Industry PB Ratio Median Figure of 32 Publicly-Listed Software Companies 1.99x
France Market PB Ratio Median Figure of 618 Publicly-Listed Companies 1.49x
ENXTPA:DLT PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:DLT Share Price ÷ Book Value per Share (both in EUR)

= 11 ÷ 3.98

2.76x

* Primary Listing of Dalet.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dalet is overvalued based on assets compared to the FR Software industry average.
X
Value checks
We assess Dalet's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Software industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Software industry average (and greater than 0)? (1 check)
  5. Dalet has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Dalet expected to perform in the next 1 to 3 years based on estimates from 1 analyst?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Dalet expected to grow at an attractive rate?
  • Dalet's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Dalet's earnings growth is positive but not above the France market average.
  • Dalet's revenue growth is positive but not above the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:DLT Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:DLT Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 8%
ENXTPA:DLT Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 3%
France Software Industry Earnings Growth Rate Market Cap Weighted Average 16%
France Software Industry Revenue Growth Rate Market Cap Weighted Average 9.1%
France Market Earnings Growth Rate Market Cap Weighted Average 13.4%
France Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTPA:DLT Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:DLT Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 58 2 1
2019-12-31 57 2 1
2018-12-31 56 1 1
ENXTPA:DLT Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-06-30 54 3 2
2018-03-31 52 4 1
2017-12-31 51 5 1
2017-09-30 51 5 1
2017-06-30 50 6 1
2017-03-31 49 5 1
2016-12-31 48 5 1
2016-09-30 47 5 1
2016-06-30 47 4 0
2016-03-31 47 4 0
2015-12-31 47 3 -1
2015-09-30 47 2 0

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Dalet's earnings are expected to grow by 8% yearly, however this is not considered high growth (20% yearly).
  • Dalet's revenue is expected to grow by 3% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTPA:DLT Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below

All data from Dalet Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:DLT Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 0.56 0.56 0.56 1.00
2019-12-31 0.45 0.45 0.45 1.00
2018-12-31 0.37 0.37 0.37 1.00
ENXTPA:DLT Past Financials Data
Date (Data in EUR Millions) EPS *
2018-06-30 0.50
2018-03-31 0.35
2017-12-31 0.20
2017-09-30 0.22
2017-06-30 0.23
2017-03-31 0.21
2016-12-31 0.18
2016-09-30 0.15
2016-06-30 0.11
2016-03-31 -0.06
2015-12-31 -0.22
2015-09-30 -0.11

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Dalet will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Dalet's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Dalet has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Dalet performed over the past 5 years?

  • Dalet's last earnings update was 203 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Dalet's growth in the last year to its industry (Software).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Dalet's year on year earnings growth rate has been positive over the past 5 years.
  • Dalet's 1-year earnings growth exceeds its 5-year average (119.5% vs 13.1%)
  • Dalet's earnings growth has exceeded the FR Software industry average in the past year (119.5% vs 17.4%).
Earnings and Revenue History
Dalet's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Dalet Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:DLT Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 53.52 1.81 14.42 12.40
2018-03-31 52.29 1.27 14.40 12.18
2017-12-31 51.05 0.73 14.39 11.97
2017-09-30 50.54 0.78 14.31 11.76
2017-06-30 50.02 0.83 14.23 11.54
2017-03-31 49.13 0.74 13.91 11.59
2016-12-31 48.23 0.66 13.58 11.63
2016-09-30 47.36 0.52 13.40 11.40
2016-06-30 46.50 0.39 13.22 11.17
2016-03-31 46.98 -0.21 13.46 11.09
2015-12-31 47.46 -0.80 13.69 11.00
2015-09-30 46.53 -0.39 10.99 8.46
2015-06-30 45.60 0.02 8.29 5.91
2015-03-31 43.85 0.09 5.15 2.96
2014-12-31 42.11 0.16 2.02
2014-09-30 40.93 0.18 1.91
2014-06-30 39.76 0.20 1.80
2014-03-31 38.24 0.76 1.67
2013-12-31 36.72 1.33 1.53
2013-09-30 35.67 1.12 1.49
2013-06-30 34.63 0.90 1.44
2013-03-31 34.53 1.02 1.42
2012-12-31 34.44 1.15 1.40
2012-06-30 32.08 0.74 1.34

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Dalet has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Dalet used its assets less efficiently than the FR Software industry average last year based on Return on Assets.
  • Dalet has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Dalet's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Software industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Dalet has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Dalet's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Dalet's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Dalet is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Dalet's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Dalet's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 6.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Dalet Company Filings, last reported 9 months ago.

ENXTPA:DLT Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 14.29 4.19 4.52
2018-03-31 14.29 4.19 4.52
2017-12-31 15.20 4.34 6.56
2017-09-30 15.20 4.34 6.56
2017-06-30 12.97 4.37 5.95
2017-03-31 12.97 4.37 5.95
2016-12-31 15.16 5.26 6.57
2016-09-30 15.16 5.26 6.57
2016-06-30 12.25 4.73 3.96
2016-03-31 12.25 4.73 3.96
2015-12-31 15.20 5.02 4.42
2015-09-30 15.20 5.02 4.42
2015-06-30 12.77 5.90 5.02
2015-03-31 12.77 5.90 5.02
2014-12-31 14.42 5.38 4.99
2014-09-30 14.42 5.38 4.99
2014-06-30 10.54 5.64 6.19
2014-03-31 10.54 5.64 6.19
2013-12-31 13.81 2.04 7.43
2013-09-30 13.81 2.04 7.43
2013-06-30 11.01 1.90 4.26
2013-03-31 11.01 1.90 4.26
2012-12-31 12.76 2.21 6.46
2012-06-30 10.03 2.01 2.36
  • Dalet's level of debt (29.3%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (17.2% vs 29.3% today).
  • Debt is well covered by operating cash flow (79.2%, greater than 20% of total debt).
  • Dalet earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Dalet's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Dalet has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Dalet dividends.
If you bought €2,000 of Dalet shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Dalet's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Dalet's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTPA:DLT Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 1 Analyst Estimates (S&P Global) See Below
France Software Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 0.5%
France Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 2.9%
France Minimum Threshold Dividend Yield 10th Percentile 0.9%
France Bottom 25% Dividend Yield 25th Percentile 1.5%
France Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTPA:DLT Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31
2018-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Dalet has not reported any payouts.
  • Unable to verify if Dalet's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Dalet's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Dalet has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Dalet's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Dalet afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Dalet has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
David Lasry
COMPENSATION €278,959
AGE 55
CEO Bio

Mr. David Lasry is the founder of Dalet S.A. and serves as its Chief Executive Officer. Mr. Lasry has been Chairman of the Board at Dalet S.A. since 1997 and also served as its Chairman of the Management Board since June 30, 2003. Mr. Lasry worked as a Program Development Manager at Engineering Systems International from 1988 to 1992. He serves as a Director of Cadima. Mr. Lasry graduated from Ecole Centrale de Paris with a DEA in Applied Mathematics and a PhD from Northwestern University.

CEO Compensation
  • David's compensation has been consistent with company performance over the past year.
  • David's remuneration is higher than average for companies of similar size in France.
Management Team

David Lasry

TITLE
Founder
COMPENSATION
€279K
AGE
55

Stéphane Guez

TITLE
Founder
COMPENSATION
€229K
AGE
55
TENURE
15.8 yrs

Salomon Elhadad

TITLE
Founder and Director
COMPENSATION
€271K
AGE
56

Michael Elhadad

TITLE
Founder
COMPENSATION
€267K
AGE
53

Stéphane Schlayen

TITLE
Deputy Chief Sales and Operating Officer
COMPENSATION
€212K

Nicolas Breugnon

TITLE
Chief Administrative and Financial Officer
Board of Directors Tenure

Average tenure and age of the Dalet board of directors in years:

9.8
Average Tenure
55.5
Average Age
  • The tenure for the Dalet board of directors is about average.
Board of Directors

David Lasry

TITLE
Founder
COMPENSATION
€279K
AGE
55
TENURE
22.3 yrs

Stéphane Guez

TITLE
Founder
COMPENSATION
€229K
AGE
55
TENURE
9.8 yrs

Salomon Elhadad

TITLE
Founder and Director
COMPENSATION
€271K
AGE
56
TENURE
9.8 yrs

Michael Elhadad

TITLE
Founder
COMPENSATION
€267K
AGE
53
TENURE
9.8 yrs

Anna Sokuski

TITLE
Independent Director
COMPENSATION
€7K
AGE
71
TENURE
6.8 yrs

Michaël Gellert

TITLE
Director
AGE
86
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Dalet's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Dalet has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Could The Dalet S.A. (EPA:DLT) Ownership Structure Tell Us Something Useful?

Generally speaking, as a company grows, institutions will increase their ownership. … Our analysis of the ownership of the company, below, shows that. … institutional investors have bought into the company

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Is Dalet S.A.'s (EPA:DLT) CEO Paid Enough Relative To Peers?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does David Lasry's Compensation Compare With Similar Sized Companies. … We looked at a group of companies with market capitalizations under €177m, and the median CEO total compensation was €151k.

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Dalet SA (EPA:DLT): Why Return On Capital Employed Is Important

and looking to gauge the potential return on investment in Dalet SA (EPA:DLT). … Your return is tied to DLT’s ability to do this because the amount earned is used to invest in opportunities to grow the business or payout dividends, which are the two sources of return on investment. … Thus, to understand how your money can grow by investing in Dalet, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

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How Did Dalet SA's (EPA:DLT) 13% ROE Fare Against The Industry?

Dalet has a ROE of 13%, based on the last twelve months. … Another way to think of that is that for every €1 worth of equity in the company, it was able to earn €0.13. … Return on Equity = Net Profit ÷ Shareholders' Equity

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Is Dalet SA (EPA:DLT) Attractive At Its Current PE Ratio?

and want to start learning about core concepts of fundamental analysis on practical examples from today's market. … While DLT might seem like a stock to avoid or sell if you own it, it is important to understand the assumptions behind the P/E ratio before you make any investment decisions. … What you need to know about the P/E ratio

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Does Dalet SA (EPA:DLT)'s Capital Return Make The Cut?

Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … Therefore, looking at how efficiently Dalet is able to use capital to create earnings will help us understand your potential return. … Investors use many different metrics but the analysis below focuses on return on capital employed (ROCE).

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Is Dalet SA (EPA:DLT) A Cash Cow?

I’ve analysed below, the health and outlook of Dalet’s cash flow, which will help you understand the stock from a cash standpoint. … Free cash flow (FCF) is the amount of cash Dalet has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations … There are two methods I will use to evaluate the quality of Dalet’s FCF: firstly, I will measure its FCF yield relative to the market index yield; secondly, I will examine whether its operating cash flow will continue to grow into the future, which will give us a sense of sustainability.

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Is Dalet SA's (EPA:DLT) PE Ratio A Signal To Sell For Investors?

DLT is priced at an enormous multiple of 70.19x based on its prior year’s earnings,. … But can investors make a closing judgement of the company’s value based on this hefty multiple. … This article will cover some key aspects we should consider in order to determine the best multiple to be used for

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Dalet SA (EPA:DLT): Is It A Good Long Term Opportunity?

Dalet SA's (EPA:DLT) most recent earnings update in December 2017a … showed … business

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Does Dalet SA.'s (EPA:DLT) PE Ratio Warrant A Sell?

Formula Price-Earnings Ratio = Price per share ÷ Earnings per share P/E Calculation for DLT Price per share = €13.9 Earnings per share = €0.23 ∴ Price-Earnings Ratio = €13.9 ÷ €0.23 = 60.5x The P/E ratio itself doesn’t tell you a lot; however, it becomes very insightful when you compare it with other similar companies. … DLT’s P/E of 60.5x is higher than its industry peers (34.6x), which implies that each dollar of DLT’s earnings is being overvalued by investors. … For example, if you are inadvertently comparing riskier firms with DLT, then DLT’s P/E would naturally be higher than its peers since investors would reward its lower risk with a higher price.

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Company Info

Description

Dalet S.A. provides solutions and services that enable media organizations to create, manage, and distribute content worldwide. The company offers content production, management, and distribution workflow solutions for news, sports, program preparation, post-production, archives, radio, education, and government and institutions Its platforms include Dalet Galaxy five, a media asset management and orchestration platform, which unifies the content chain by managing assets, metadata, workflows, and processes across various production and distribution systems; Dalet AmberFin, an orchestrated and scalable media processing platform with integrated ingest, transcoding, mastering, QC, and review functionalities; Dalet Brio, platform for non-proprietary hardware to digitize and playback customers’ content; and Dalet Cube, a suite of tools to design, manage, and playout, and broadcast 3D graphics. The company also offers professional services, such as design, integration, implementation, training, support, and consulting. Dalet S.A. was founded in 1990 and is headquartered in Levallois-Perret, France.

Details
Name: Dalet S.A.
DLT
Exchange: ENXTPA
Founded: 1990
€39,348,375
3,577,125
Website: http://www.dalet.com
Address: Dalet S.A.
16, rue Rivay,
Levallois-Perret,
Ile-de-France, 92300,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA DLT Ordinary Shares Euronext Paris FR EUR 06. Apr 2011
LSE 0P2R Ordinary Shares London Stock Exchange GB EUR 06. Apr 2011
BATS-CHIXE DLTP Ordinary Shares BATS 'Chi-X Europe' GB EUR 06. Apr 2011
OTCPK DLXX.F SHS NEW Pink Sheets LLC US USD 23. Jun 2000
Number of employees
Current staff
Staff numbers
365
Dalet employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:35
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/02/20
Last earnings filing: 2018/09/28
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.