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Worldline

ENXTPA:WLN
Snowflake Description

Excellent balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
WLN
ENXTPA
€10B
Market Cap
  1. Home
  2. FR
  3. Software
Company description

Worldline SA provides electronic payment and transactional services to financial institutions, merchants, corporations, and government agencies worldwide. The last earnings update was 28 days ago. More info.


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  • Worldline has significant price volatility in the past 3 months.
WLN Share Price and Events
7 Day Returns
-4.3%
ENXTPA:WLN
1.3%
FR IT
1.7%
FR Market
1 Year Returns
33%
ENXTPA:WLN
0.7%
FR IT
3.7%
FR Market
WLN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Worldline (WLN) -4.3% 3.8% 20.7% 33% 127.5% -
FR IT 1.3% 5% 19% 0.7% 45.5% 88.7%
FR Market 1.7% 2.9% 14.3% 3.7% 28.6% 32.6%
1 Year Return vs Industry and Market
  • WLN outperformed the IT industry which returned 0.7% over the past year.
  • WLN outperformed the Market in France which returned 3.7% over the past year.
Price Volatility
WLN
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Worldline 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 Worldline 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 Worldline.

ENXTPA:WLN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 15 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.7%
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:WLN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.7%
IT Unlevered Beta Simply Wall St/ S&P Global 1.05
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.054 (1 + (1- 33%) (2.51%))
1.048
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.05
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (1.048 * 6.65%)
7.7%

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

The calculations below outline how an intrinsic value for Worldline 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:WLN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.7%)
2019 292.20 Analyst x7 271.30
2020 347.70 Analyst x8 299.73
2021 405.27 Analyst x3 324.37
2022 450.00 Analyst x1 334.41
2023 483.96 Est @ 7.55% 333.92
2024 510.59 Est @ 5.5% 327.09
2025 531.39 Est @ 4.07% 316.06
2026 547.70 Est @ 3.07% 302.46
2027 560.68 Est @ 2.37% 287.48
2028 571.21 Est @ 1.88% 271.93
Present value of next 10 years cash flows €3,068.76
ENXTPA:WLN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €571.21 × (1 + 0.73%) ÷ (7.7% – 0.73%)
€8,253.50
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €8,253.50 ÷ (1 + 7.7%)10
€3,929.15
ENXTPA:WLN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €3,068.76 + €3,929.15
€6,997.91
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €6,997.91 / 181.85
€38.48
ENXTPA:WLN Discount to Share Price
Calculation Result
Value per share (EUR) From above. €38.48
Current discount Discount to share price of €54.25
= -1 x (€54.25 - €38.48) / €38.48
-41%

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

  • The current share price of Worldline 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 Worldline's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Worldline's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:WLN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.73
ENXTPA:WLN Share Price ** ENXTPA (2019-04-18) in EUR €54.25
France IT Industry PE Ratio Median Figure of 29 Publicly-Listed IT Companies 18.06x
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 Worldline.

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

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

= 54.25 ÷ 0.73

74.09x

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

  • Worldline is overvalued based on earnings compared to the FR IT industry average.
  • Worldline is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does Worldline's expected growth come at a high price?
Raw Data
ENXTPA:WLN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 74.09x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts
28.7%per year
France IT Industry PEG Ratio Median Figure of 25 Publicly-Listed IT Companies 1.63x
France Market PEG Ratio Median Figure of 273 Publicly-Listed Companies 1.47x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 74.09x ÷ 28.7%

2.58x

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

  • Worldline is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Worldline's assets?
Raw Data
ENXTPA:WLN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €19.82
ENXTPA:WLN Share Price * ENXTPA (2019-04-18) in EUR €54.25
France IT Industry PB Ratio Median Figure of 36 Publicly-Listed IT Companies 2.2x
France Market PB Ratio Median Figure of 618 Publicly-Listed Companies 1.49x
ENXTPA:WLN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 54.25 ÷ 19.82

2.74x

* Primary Listing of Worldline.

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

  • Worldline is overvalued based on assets compared to the FR IT industry average.
X
Value checks
We assess Worldline'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 IT 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 IT industry average (and greater than 0)? (1 check)
  5. Worldline has a total score of 0/6, 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 Worldline expected to perform in the next 1 to 3 years based on estimates from 15 analysts?

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
28.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Worldline expected to grow at an attractive rate?
  • Worldline's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Worldline's earnings growth is expected to exceed the France market average.
  • Worldline's revenue growth is expected to exceed the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:WLN Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:WLN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 15 Analysts 28.7%
ENXTPA:WLN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 15 Analysts 11.9%
France IT Industry Earnings Growth Rate Market Cap Weighted Average 17.4%
France IT Industry Revenue Growth Rate Market Cap Weighted Average 7.2%
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:WLN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:WLN Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 3,316 2
2022-12-31 2,933 666 372 2
2021-12-31 2,738 621 321 9
2020-12-31 2,495 521 265 14
2019-12-31 2,355 449 207 15
ENXTPA:WLN Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,720 314 101
2018-09-30 1,665 106
2018-06-30 1,652 296 112
2018-03-31 1,623 291 109
2017-12-31 1,552 286 106
2017-09-30 1,504 104
2017-06-30 1,455 251 103
2017-03-31 1,382 237 124
2016-12-31 1,309 224 144
2016-09-30 1,278 146
2016-06-30 1,247 212 147
2016-03-31 1,237 205 125

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Worldline's earnings are expected to grow significantly at over 20% yearly.
  • Worldline's revenue is expected to grow by 11.9% 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:WLN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 15 Analyst Estimates (S&P Global) See Below

All data from Worldline Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:WLN Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31 2.04 2.04 2.04 1.00
2021-12-31 2.08 2.54 1.79 4.00
2020-12-31 1.64 2.25 1.40 9.00
2019-12-31 1.16 1.28 1.08 8.00
ENXTPA:WLN Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.73
2018-09-30 0.79
2018-06-30 0.84
2018-03-31 0.82
2017-12-31 0.80
2017-09-30 0.79
2017-06-30 0.78
2017-03-31 0.93
2016-12-31 1.09
2016-09-30 1.10
2016-06-30 1.11
2016-03-31 0.95

*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.
  • Worldline is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Worldline'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.
Worldline has a total score of 4/6, 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 Worldline 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 Worldline's growth in the last year to its industry (IT).
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.
  • Worldline's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Worldline's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Worldline's 1-year earnings growth is negative, it can't be compared to the FR IT industry average.
Earnings and Revenue History
Worldline'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 Worldline Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:WLN 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 1,720.20 100.50 734.80
2018-09-30 1,665.35 106.20 716.20
2018-06-30 1,652.00 111.90 680.10
2018-03-31 1,622.95 108.70 675.15
2017-12-31 1,552.40 105.50 687.70
2017-09-30 1,503.65 104.20 643.25
2017-06-30 1,454.90 102.90 598.80
2017-03-31 1,382.05 123.55 566.75
2016-12-31 1,309.20 144.20 534.70
2016-09-30 1,278.00 145.50 523.20
2016-06-30 1,246.80 146.80 511.70
2016-03-31 1,236.90 125.10 508.85
2015-12-31 1,227.00 103.40 506.00
2015-09-30 1,207.45 103.45 502.20
2015-06-30 1,187.90 103.50 498.40
2015-03-31 1,168.60 101.95 494.85
2014-12-31 1,149.30 100.40 491.30
2014-09-30 1,142.25 98.45 482.50
2014-06-30 1,135.20 96.50 473.70
2014-03-31 1,135.15 107.50 470.45
2013-12-31 1,135.10 118.50 467.20
2012-12-31 1,107.20 93.90 455.60

*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.
  • Worldline has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Worldline used its assets less efficiently than the FR IT industry average last year based on Return on Assets.
  • Worldline's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Worldline'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 IT 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.
Worldline has a total score of 1/6, 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 Worldline'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 Worldline's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Worldline's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Worldline's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Worldline'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 7.8x 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 Worldline Company Filings, last reported 3 months ago.

ENXTPA:WLN Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 3,808.20 247.80 213.20
2018-09-30 3,808.20 247.80 213.20
2018-06-30 1,508.20 41.10 463.30
2018-03-31 1,508.20 41.10 463.30
2017-12-31 1,426.40 46.70 356.20
2017-09-30 1,426.40 46.70 356.20
2017-06-30 1,358.50 40.60 481.20
2017-03-31 1,358.50 40.60 481.20
2016-12-31 1,292.00 26.30 374.30
2016-09-30 1,292.00 26.30 374.30
2016-06-30 821.90 22.10 457.20
2016-03-31 821.90 22.10 457.20
2015-12-31 788.70 30.00 353.30
2015-09-30 788.70 30.00 353.30
2015-06-30 690.90 21.90 286.40
2015-03-31 690.90 21.90 286.40
2014-12-31 629.10 12.50 215.60
2014-09-30 629.10 12.50 215.60
2014-06-30 572.40 188.20 85.60
2014-03-31 572.40 188.20 85.60
2013-12-31 335.60 641.60 542.00
2012-12-31 421.10 483.30 468.70
  • Worldline's level of debt (6.5%) 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 (188.2% vs 6.5% today).
  • Debt is well covered by operating cash flow (126.5%, greater than 20% of total debt).
  • Worldline earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Worldline'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. Worldline 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 Worldline'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 Worldline dividends. Estimated to be 0.63% next year.
If you bought €2,000 of Worldline 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 Worldline's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Worldline'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:WLN 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 15 Analyst Estimates (S&P Global) See Below
France IT Industry Average Dividend Yield Market Cap Weighted Average of 20 Stocks 1.5%
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:WLN Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.40 4.00
2020-12-31 0.37 7.00
2019-12-31 0.28 7.00
ENXTPA:WLN Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2015-08-07 0.000 0.000
2015-07-28 0.000 0.000
2015-04-28 0.000 0.000
2014-06-27 0.388 2.375

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

  • Unable to perform a dividend volatility check as Worldline has not reported any payouts.
  • Unable to verify if Worldline's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Worldline's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Worldline has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Worldline's dividends in 3 years as they are not expected to pay a notable one for France.
X
Income/ dividend checks
We assess Worldline'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 Worldline afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Worldline 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 Worldline'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
Gilles Grapinet
COMPENSATION €1,791,566
AGE 55
TENURE AS CEO 5.8 years
CEO Bio

Mr. Gilles Grapinet has been the Chief Executive Officer of Worldline S.A. and Worldline S.A./N.V. since July 2013. Mr. Grapinet had been a Senior Executive Vice President of Global Functions at Atos SE since December 22, 2008, in which capacity he has headed Global Support Functions, ensured coordination and development of Global Sales and Marketing as well as of the Consulting and Technology Services division of the Atos group, and supervised development of the Group’s activities. He served as the Head of Payment Systems and Services of Credit Agricole S.A. since October 15, 2008. Mr. Grapinet joined Atos in December 2008. He served as Head of Strategy of Credit Agricole SA. In 2007, he joined the Executive Committee of the international banking Group Credit Agricole SA, in charge of Strategy and later of the Group’s Systems and Payment Services division. He joined the General Inspectorate of Finance in 1992 then the French tax department, where he headed the network steering department and the strategy information system department, where he served for four years on numerous audit and assessment assignments reviewing public economic, banking and financial policies. He spent five years with the French tax department. He joined the French Inspection Générale des Finances in 1992, where he worked for four years on numerous financial audit and assessment assignments. In 1996, he moved to the French tax department as Head of the Management Control department before being appointed Director of Information Systems and Strategy. From 2003 to 2004, he joined the private office of Prime Minister as Advisor for Economic and Financial Affairs. He served as the Chief of Staff for two French Ministers of Economy and Finance from 2004 to 2007. He has been a Director of Worldline S.A. since April 30, 2014. He serves as a Director at SiNSYS SA. From April 2004 to April 2007, he served as Director of the French economy, finance and industry minister's private office and Since May 2007, he served as interim head of the General Inspectorate of Finance. From 2000 to 2002, he served as Director of the Copernic programme. Other positions and offices held at December 31, 2017: Chairman of the Supervisory Board of equensWorldline SE and Member of Supervisory Board of Worldline (China) and Outside the Worldline Group: Permanent representative of Atos SE and Director of Atos Participation 2 SA. Other positions and offices held during the last five years: Outside the Worldline Group: Director of Saint Louis Ré SA and Bull SA, Vice President of Atos IT Solutions and Services GmbH and Member of the Supervisory Board of Atos Information Technology GmbH (Germany). He is a French Inspecteur Général des Finances (General Finance Inspector). Mr. Grapinet is a Graduate of the prestigious Ecole Nationale d'Administration. He received the French Légion d’Honneur (Chevalier) in 2011.

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

Average tenure and age of the Worldline management team in years:

2.8
Average Tenure
45
Average Age
  • The tenure for the Worldline management team is about average.
Management Team

Gilles Grapinet

TITLE
CEO & Director
COMPENSATION
€2M
AGE
55
TENURE
5.8 yrs

Marc-Henri Desportes

TITLE
Deputy Chief Executive Officer
COMPENSATION
€953K
AGE
45
TENURE
5.8 yrs

Eric Heurtaux

TITLE
Chief Financial Officer
AGE
42
TENURE
2.3 yrs

Christophe Duquenne

TITLE
COO, CTO & Director of the Merchant Services Global Business Line
TENURE
5.8 yrs

David Pierre-Kahn

TITLE
Head of Investors Relations

Charles-Henri de Taffin

TITLE
Head of Legal
TENURE
1.8 yrs

Tiphaine Hecketsweiler

TITLE
Head of Communications Worldline

Pascal Mauze

TITLE
Head of Sales & Marketing
TENURE
2.3 yrs

Olivier Burger

TITLE
Head of Human Resources
TENURE
0.5 yrs

Vincent Roland

TITLE
Managing Director of Merchant Services
TENURE
3.3 yrs
Board of Directors Tenure

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

4.8
Average Tenure
57
Average Age
  • The tenure for the Worldline board of directors is about average.
Board of Directors

Thierry Breton

TITLE
Chairman of the Board
AGE
63
TENURE
5 yrs

Gilles Grapinet

TITLE
CEO & Director
COMPENSATION
€2M
AGE
55
TENURE
5 yrs

Aldo Cardoso

TITLE
Independent Director
COMPENSATION
€42K
AGE
62
TENURE
4.8 yrs

Romeo Lacher

TITLE
Director
COMPENSATION
€4K
AGE
58
TENURE
0.4 yrs

Ursula Morgenstern

TITLE
Director
AGE
53
TENURE
5 yrs

Gilles Arditti

TITLE
Director
AGE
63
TENURE
5 yrs

Susan Tolson

TITLE
Independent Director
COMPENSATION
€39K
AGE
56
TENURE
4.8 yrs

Luc Rémont

TITLE
Independent Director
COMPENSATION
€37K
AGE
49
TENURE
4.8 yrs

Sophie Houssiaux

TITLE
Director
AGE
53
TENURE
2.3 yrs

Danielle Lagarde

TITLE
Director
COMPENSATION
€4K
AGE
58
TENURE
2.3 yrs
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 Worldline'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. Worldline 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

Should You Investigate Worldline S.A. (EPA:WLN) At €52.15?

The company's stock. … As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock … However, what if the stock is still a bargain?

Simply Wall St -

What Can We Learn From Worldline S.A.’s (EPA:WLN) Investment Returns?

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Return On Capital Employed (ROCE): What is it? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

What Does Worldline S.A.'s (EPA:WLN) P/E Ratio Tell You?

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … To keep it practical, we'll show how Worldline S.A.'s (EPA:WLN) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Will Worldline S.A.'s (EPA:WLN) Earnings Grow Over The Next Year?

(EPA:WLN) released its earnings in June 2018, … it seems that analyst forecasts are substantially optimistic, … with earnings expected to grow by a high double-digit of 51% in the upcoming year,

Simply Wall St -

What You Need To Know About Worldline SA’s (EPA:WLN) Cash Situation

I’ve analysed below, the health and outlook of Worldline’s cash flow, which will help you understand the stock from a cash standpoint. … Worldline’s free cash flow (FCF) is the level of cash flow the business generates from its operational activities, after it reinvests in the company as capital expenditure. … I will be analysing Worldline’s FCF by looking at its FCF yield and its operating cash flow growth.

Simply Wall St -

What You Must Know About Worldline SA's (EPA:WLN) Financial Health

Small-caps and large-caps are wildly popular among investors, however, mid-cap stocks, such as Worldline SA (EPA:WLN), with a market capitalization of €5.9b, rarely draw their attention from the investing community. … Today we will look at WLN’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … Remember this is a very top-level look that focuses exclusively on financial health, so I recommend a deeper analysis.

Simply Wall St -

What Does Worldline SA's (EPA:WLN) Share Price Indicate?

received a lot of attention from a substantial price movement on the ENXTPA over the last few months, increasing to €56.25 at one point, and dropping to the lows of €43.54. … A question to answer is whether Worldline's current trading price of €47.1 reflective of the actual value of the? … Let’s take a look at Worldline’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change

Simply Wall St -

How Many Worldline SA (EPA:WLN) Shares Do Institutions Own?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Taking a look at the our data on the ownership groups (below), it's seems that.

Simply Wall St -

Should You Worry About Worldline SA's (EPA:WLN) CEO Pay?

First, this article will compare CEO compensation with compensation at similar sized companies. … How Does Gilles Grapinet's Compensation Compare With Similar Sized Companies. … At the time of writing our data says that Worldline SA has a market cap of €6.1b, and is paying total annual CEO compensation of €2m.

Simply Wall St -

Why You Should Care About Worldline SA’s (EPA:WLN) Cash Levels

Two important questions to ask before you buy Worldline SA (EPA:WLN) is, how it makes money and how it spends its cash. … Free cash flow (FCF) is the amount of cash Worldline 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 Worldline’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

Simply Wall St -

Company Info

Description

Worldline SA provides electronic payment and transactional services to financial institutions, merchants, corporations, and government agencies worldwide. Its Merchant Services segment offers commercial acquiring services, as well as ancillary value added services; payment terminals solutions; omni-channel payment and acceptance services, merchant wallets, digital signage, and online payment gateways; private label cards; and loyalty programs and related solutions, such as sales promotion services and self-service kiosks. The company’s Financial Services segment provides Issuing services, such as issuing and managing debit, credit, prepaid, and commercial cards, as well as digital enablement, and identity, trust, and authentication services; acquiring processing, fraud risk management, and ATM management; instant payments channel, payments processing back-office, and clearing and settlement services; digital banking platform, mobile and open banking, and trading system and financial information services; and payment software licensing, hosting, application management, and business process outsourcing. Its Mobility & e-Transactional Services segment offers solutions and services, including e-ticketing; e-contracts and electronic invoicing, and legal archiving solutions; e-safe services; and cloud contact and consumer cloud services, and connected living solutions. The company was formerly known as Atos Worldline S.A.S. and changed its name to Worldline SA in April 2014. The company was founded in 1973 and is headquartered in Bezons, France. Worldline SA is a subsidiary of Atos SE.

Details
Name: Worldline S.A.
WLN
Exchange: ENXTPA
Founded: 1973
€9,865,275,537
181,848,397
Website: http://www.worldline.com
Address: Worldline S.A.
80 Quai Voltaire,
River Ouest,
Bezons,
Ile-de-France, 95870,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA WLN Common Stock Euronext Paris FR EUR 27. Jun 2014
OTCPK WWLN.F Common Stock Pink Sheets LLC US USD 27. Jun 2014
DB WO6 Common Stock Deutsche Boerse AG DE EUR 27. Jun 2014
LSE 0QVI Common Stock London Stock Exchange GB EUR 27. Jun 2014
BATS-CHIXE WLNP Common Stock BATS 'Chi-X Europe' GB EUR 27. Jun 2014
Number of employees
Current staff
Staff numbers
10,452
Worldline employees.
Industry
Data Processing and Outsourced Services
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/19 21:55
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/03/22
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.