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Prologue

ENXTPA:PROL
Snowflake Description

Flawless balance sheet and overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PROL
ENXTPA
€22M
Market Cap
  1. Home
  2. FR
  3. Software
Company description

Prologue S.A. delivers cloud, IP communications, and enterprise content management (ECM) and exchange (EDI) solutions in France and internationally. The last earnings update was 79 days ago. More info.


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  • Prologue has significant price volatility in the past 3 months.
PROL Share Price and Events
7 Day Returns
-2.4%
ENXTPA:PROL
-3.3%
FR Software
0.1%
FR Market
1 Year Returns
-17.2%
ENXTPA:PROL
2.5%
FR Software
2.4%
FR Market
PROL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Prologue (PROL) -2.4% -7.5% -11.9% -17.2% -54.2% -73.8%
FR Software -3.3% -4.4% -0.2% 2.5% 86% 149.4%
FR Market 0.1% 0.8% -0.3% 2.4% 33.3% 35.5%
1 Year Return vs Industry and Market
  • PROL underperformed the Software industry which returned 2.5% over the past year.
  • PROL underperformed the Market in France which returned 2.4% over the past year.
Price Volatility
PROL
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Prologue 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 Prologue 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 Prologue.

ENXTPA:PROL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 9.6%
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:PROL
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 1.12
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.119 (1 + (1- 33%) (51.54%))
1.339
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.34
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (1.339 * 6.65%)
9.63%

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

The calculations below outline how an intrinsic value for Prologue 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:PROL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 9.63%)
2020 0.04 Est @ 45.72% 0.04
2021 0.05 Est @ 32.23% 0.04
2022 0.07 Est @ 22.78% 0.05
2023 0.08 Est @ 16.16% 0.05
2024 0.08 Est @ 11.54% 0.05
2025 0.09 Est @ 8.29% 0.05
2026 0.10 Est @ 6.03% 0.05
2027 0.10 Est @ 4.44% 0.05
2028 0.11 Est @ 3.33% 0.05
2029 0.11 Est @ 2.55% 0.04
Present value of next 10 years cash flows €0.48
ENXTPA:PROL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €0.11 × (1 + 0.73%) ÷ (9.63% – 0.73%)
€1.22
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1.22 ÷ (1 + 9.63%)10
€0.49
ENXTPA:PROL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €0.48 + €0.49
€0.97
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €0.97 / 45.71
€0.02
ENXTPA:PROL Discount to Share Price
Calculation Result
Value per share (EUR) From above. €0.02
Current discount Discount to share price of €0.49
= -1 x (€0.49 - €0.02) / €0.02
-2219.5%

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

  • The current share price of Prologue 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 Prologue's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Prologue's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:PROL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €-0.02
ENXTPA:PROL Share Price ** ENXTPA (2019-07-19) in EUR €0.49
France Software Industry PE Ratio Median Figure of 22 Publicly-Listed Software Companies 27.51x
France Market PE Ratio Median Figure of 415 Publicly-Listed Companies 17.52x

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

** Primary Listing of Prologue.

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

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

= 0.49 ÷ -0.02

-20.53x

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

  • Prologue is loss making, we can't compare its value to the FR Software industry average.
  • Prologue is loss making, we can't compare the value of its earnings to the France market.
Price based on expected Growth
Does Prologue's expected growth come at a high price?
Raw Data
ENXTPA:PROL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -20.53x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
France Software Industry PEG Ratio Median Figure of 17 Publicly-Listed Software Companies 2.57x
France Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.55x

*Line of best fit is calculated by linear regression .

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

  • Unable to calculate PEG ratio for Prologue, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Prologue's assets?
Raw Data
ENXTPA:PROL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €0.33
ENXTPA:PROL Share Price * ENXTPA (2019-07-19) in EUR €0.49
France Software Industry PB Ratio Median Figure of 30 Publicly-Listed Software Companies 2.07x
France Market PB Ratio Median Figure of 614 Publicly-Listed Companies 1.46x
ENXTPA:PROL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 0.49 ÷ 0.33

1.48x

* Primary Listing of Prologue.

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

  • Prologue is good value based on assets compared to the FR Software industry average.
X
Value checks
We assess Prologue'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. Prologue 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 Prologue expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

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 Prologue 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 Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

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
15.8%
Expected Software industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Prologue expected to grow at an attractive rate?
  • Unable to compare Prologue's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Prologue's earnings growth to the France market average as no estimate data is available.
  • Unable to compare Prologue's revenue growth to the France market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ENXTPA:PROL Future Growth Rates Data Sources
Data Point Source Value (per year)
France Software Industry Earnings Growth Rate Market Cap Weighted Average 15.8%
France Software Industry Revenue Growth Rate Market Cap Weighted Average 8.7%
France Market Earnings Growth Rate Market Cap Weighted Average 12.7%
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:PROL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:PROL Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 86 4 -1
2018-06-30 77 2 0
2018-03-31 77 0 -1
2017-12-31 77 -2 -3
2017-06-30 79 -1 -6
2017-03-31 77 -1 -5
2016-12-31 75 -1 -5
2016-09-30 72 -2 -4
2016-06-30 69 -4 -3
2016-03-31 58 -4 -3

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Prologue is high growth as no earnings estimate data is available.
  • Unable to determine if Prologue is high growth as no revenue estimate data is available.
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:PROL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Prologue Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:PROL Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 -0.02
2018-06-30 0.00
2018-03-31 -0.03
2017-12-31 -0.07
2017-06-30 -0.17
2017-03-31 -0.14
2016-12-31 -0.14
2016-09-30 -0.11
2016-06-30 -0.14
2016-03-31 -0.10

*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 Prologue will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine Prologue's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. Prologue's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Software companies here
  3. Prologue's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess Prologue'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.
Prologue has a total score of 0/6, 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 Prologue performed over the past 5 years?

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 Prologue'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.
  • Prologue does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Prologue's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Prologue's 1-year growth to the FR Software industry average as it is not currently profitable.
Earnings and Revenue History
Prologue'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 Prologue Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:PROL Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 85.98 -1.06 14.42
2018-06-30 77.39 0.08 12.36
2018-03-31 77.22 -1.31 13.79
2017-12-31 77.04 -2.70 15.22
2017-06-30 78.64 -6.10 18.89
2017-03-31 76.59 -5.31 17.14
2016-12-31 74.54 -4.51 15.40
2016-09-30 72.00 -3.94 13.35
2016-06-30 69.46 -3.37 11.30
2016-03-31 57.88 -3.22 9.17
2015-12-31 46.30 -3.07 7.03
2015-09-30 34.72 -2.82 6.68
2015-06-30 23.13 -1.81 3.20
2015-03-31 22.64 -1.43 3.16
2014-12-31 22.16 -1.04 3.12
2014-06-30 21.31 0.76 2.76
2014-03-31 20.69 0.38 2.72
2013-12-31 20.08 -0.01 2.68
2013-06-30 20.94 -1.04 2.83
2013-03-31 21.19 0.48 3.00
2012-12-31 21.44 2.00 3.16
2012-09-30 21.16 3.53 3.26

*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.
  • Prologue has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • It is difficult to establish if Prologue has efficiently used its assets last year compared to the FR Software industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Prologue improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Prologue'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.
Prologue has a total score of 0/6, 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 Prologue'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 Prologue's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Prologue is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Prologue's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Prologue'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 3.8x 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 Prologue Company Filings, last reported 6 months ago.

ENXTPA:PROL Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 32.49 11.35 9.13
2018-06-30 30.82 11.10 7.78
2018-03-31 30.82 11.10 7.78
2017-12-31 29.26 12.21 9.89
2017-06-30 29.79 14.67 5.25
2017-03-31 29.79 14.67 5.25
2016-12-31 22.03 15.10 7.13
2016-09-30 22.03 15.10 7.13
2016-06-30 20.96 12.58 4.16
2016-03-31 20.96 12.58 4.16
2015-12-31 20.02 18.60 5.28
2015-09-30 20.02 18.60 5.28
2015-06-30 24.87 9.07 7.04
2015-03-31 24.87 9.07 7.04
2014-12-31 16.69 1.89 11.86
2014-06-30 2.23 3.02 2.28
2014-03-31 2.23 3.02 2.28
2013-12-31 1.70 2.86 2.98
2013-06-30 -4.16 2.99 0.60
2013-03-31 -4.16 2.99 0.60
2012-12-31 -6.46 3.87 1.74
2012-09-30 -6.46 3.87 1.74
  • Prologue's level of debt (35.5%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (251.3% vs 35.5% today).
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.

  • Whilst loss making Prologue has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Prologue has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -44.1% per year.
X
Financial health checks
We assess Prologue'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. Prologue has a total score of 6/6, 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 Prologue'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 Prologue dividends.
If you bought €2,000 of Prologue 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 Prologue's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Prologue'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:PROL 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 0 Analyst Estimates (S&P Global) See Below
France Software Industry Average Dividend Yield Market Cap Weighted Average of 11 Stocks 0.6%
France Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3%
France Minimum Threshold Dividend Yield 10th Percentile 1%
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.

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

  • Unable to perform a dividend volatility check as Prologue has not reported any payouts.
  • Unable to verify if Prologue's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Prologue's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Prologue 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 Prologue's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - 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 Prologue afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Prologue 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 Prologue'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
Georges Seban
COMPENSATION €77,600
AGE 90
CEO Bio

Mr. Georges Seban is the Founder of Prologue S.A. and serves as its Chairman and Chief Executive Officer. Mr. Seban serves as Chief Executive officer of Logabax and Chief executive officer of Bull Micral. He serves as President of M2I, M2I TECH and Prologue numérique SAS. He serves as Manager of Scribtel Formation and CONTIMELEC SARL. He serves as President and Chief Executive Officer of Imecom SA. He serves as Chief Executive Officer and Chairman of the Board at O2i Société Anonyme. He serves as Chairman at Alhambra Systems, Grupo Eidos and CTI Phone. He is Chairman and Chief Executive Officer of Maison Internationale de l'Informatique S.A.S. He served as the Chairman of Management Board at Prologue Société Anonyme since November 4, 2010. He served as Chief executive officer of Prologue Software S.a. since 1986. He serves as Member of the Supervisory Board at Alhambra Polska. Mr. Seban is graduate from Political Institute of Studies of Paris.

CEO Compensation
  • Georges's compensation has increased whilst company is loss making.
  • Georges's remuneration is lower than average for companies of similar size in France.
Management Team

Georges Seban

TITLE
Founder
COMPENSATION
€78K
AGE
90

Ramendra Das

TITLE
Chief Financial Officer and Director
COMPENSATION
€26K
AGE
73

John Namee

TITLE
Chief Operating Officer

Scott Finkle

TITLE
VP & Technical Director

Annik Bonnefemme

TITLE
Director of the Communication
AGE
67
TENURE
26.5 yrs

Christian Léonetti

TITLE
Managing Director
COMPENSATION
€520K
AGE
53
TENURE
24.5 yrs

Najah Naffah

TITLE
Managing Director

Jaime Guevara

TITLE
International Chief Executive Officer
AGE
63

Domenica Chareyre

TITLE
Managing Director of Almacom
AGE
64

François Baeza

TITLE
Deputy Managing Director
AGE
65
Board of Directors Tenure

Average tenure of the Prologue board of directors in years:

5.5
Average Tenure
  • The tenure for the Prologue board of directors is about average.
Board of Directors

Ramendra Das

TITLE
Chief Financial Officer and Director
COMPENSATION
€26K
AGE
73
TENURE
6 yrs

Michel Seban

TITLE
Director
COMPENSATION
€8K
TENURE
8.1 yrs

Georges Seban

TITLE
Founder
COMPENSATION
€78K
AGE
90
TENURE
8.7 yrs

Annik Harmand

TITLE
Independent Director
COMPENSATION
€5K
TENURE
8.8 yrs

Hubert Blanc

TITLE
Independent Director
COMPENSATION
€5K
TENURE
5.1 yrs

Jean Schiele

TITLE
Independent Director
COMPENSATION
€5K
TENURE
5.1 yrs

Jean-François Akar

TITLE
Independent Director
COMPENSATION
€5K
TENURE
5.1 yrs

Elsa Perdomo

TITLE
Director
COMPENSATION
€8K
TENURE
4.5 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Prologue'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. Prologue 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

How Prologue S.A. (EPA:PROL) Can Impact Your Portfolio Volatility

Beta can be a useful tool to understand how much a stock is influenced by market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market. … The fact that this is well above 1 indicates that its share price movements have shown sensitivity to overall market volatility.

Simply Wall St -

Do You Know About Prologue S.A.’s (EPA:PROL) ROCE?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

Simply Wall St -

Do You Know About Prologue S.A.’s (EPA:PROL) ROCE?

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)

Simply Wall St -

Prologue S.A. (EPA:PROL): What Does Its Beta Value Mean For Your Portfolio?

(EPA:PROL), then you might want to consider its beta (a measure of share price volatility) in order to understand how the stock could impact your portfolio. … Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

Introducing Prologue, The Stock That Tanked 83%

We also note that the stock has performed poorly over the last year, with the share price down 40%. … We think revenue is probably a better guide. … So it's not at all clear to us why the share price sunk 30% throughout that time.

Simply Wall St -

What Investors Should Know About Prologue S.A.'s (EPA:PROL) Financial Strength

(EPA:PROL) is a small-cap stock with a market capitalization of €19m. … While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, they end up ignoring a key aspect, which could be the biggest threat to its existence: its financial health. … Evaluating financial health as part of your investment thesis is

Simply Wall St -

How Does Prologue S.A. (EPA:PROL) Affect Your Portfolio Volatility?

Beta is a widely used metric to measure a stock's exposure to market risk (volatility). … Before we go on, it's worth noting that Warren Buffett pointed out in his 2014 letter to shareholders that 'volatility is far from synonymous with risk.' Having said that, beta can still be rather useful. … A stock with a beta below one is either less volatile than the market, or more volatile but not corellated with the overall market.

Simply Wall St -

What Investors Should Know About Prologue SA's (EPA:PROL) Financial Strength

While small-cap stocks, such as Prologue SA (EPA:PROL) with its market cap of €24m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Is Prologue SA (EPA:PROL) A Financially Sound Company?

While small-cap stocks, such as Prologue SA (EPA:PROL) with its market cap of €25.70m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn.

Simply Wall St -

Why Prologue SA.'s (EPA:PROL) Ownership Structure Is Important

PROL hardly has any institutional ownership, leaving investors little to think about sharp price volatility in the stock that could take place due to institutional trading. … This level of ownership gives retail investors the power to sway key policy decisions such as board composition, executive compensation, and potential acquisitions. … Next Steps: Institutional ownership in PROL is not at a level that would concern investors.

Simply Wall St -

Company Info

Description

Prologue S.A. delivers cloud, IP communications, and enterprise content management (ECM) and exchange (EDI) solutions in France and internationally. It offers cloud computing solutions with a brokering platform for various businesses, and tools for porting and administrating applications in the cloud with deployment and management; and unified communication solutions, including telephony and fax over IP systems that are integrated within the enterprise information system. The company also provides ECM and EDI integrated solutions for the dematerialization of incoming and outgoing documents, as well as documents circulating within the company, such as various formats and types of media for customers, suppliers, administrations or other partners, or for employees and private individuals. In addition, it offers development, integration, and maintenance solutions and services to assist companies in optimizing their application portfolio. Further, the company provides diagnostics, field studies, consulting, deployment, functional upgrade, and maintenance, as well as dematerialization, and cloud and IP communication solutions; and information systems and development services. Its solutions and services are distributed in SaaS or license-based mode for the optimization of business information systems. The company is headquartered in Gennevilliers, France.

Details
Name: Prologue S.A.
PROL
Exchange: ENXTPA
Founded:
€22,398,567
45,711,362
Website: http://www.prologue.fr
Address: Prologue S.A.
101, Avenue Laurent Cély,
Gennevilliers,
Ile-de-France, 92230,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA PROL Ordinary Shares Euronext Paris FR EUR 09. Jan 2007
BST 69P Ordinary Shares Boerse-Stuttgart DE EUR 09. Jan 2007
LSE 0FPJ Ordinary Shares London Stock Exchange GB EUR 09. Jan 2007
BATS-CHIXE PROLP Ordinary Shares BATS 'Chi-X Europe' GB EUR 09. Jan 2007
Number of employees
Current staff
Staff numbers
454
Prologue employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 22:00
End of day share price update: 2019/07/19 00:00
Last earnings filing: 2019/05/01
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


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.