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Keyyo

ENXTPA:ALKEY
Snowflake Description

Proven track record with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ALKEY
ENXTPA
€60M
Market Cap
  1. Home
  2. FR
  3. Telecom
Company description

Keyyo S.A. operates as a telecom services provider in France. The last earnings update was 200 days ago. More info.


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ALKEY Share Price and Events
7 Day Returns
-0.9%
ENXTPA:ALKEY
-0.8%
FR Telecom
0.9%
FR Market
1 Year Returns
52.5%
ENXTPA:ALKEY
-8.3%
FR Telecom
3.5%
FR Market
ALKEY Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Keyyo (ALKEY) -0.9% -0.9% 0% 52.5% 276.5% 443.5%
FR Telecom -0.8% 3.7% 6.1% -8.3% -12.8% 10.4%
FR Market 0.9% 2.2% 15.2% 3.5% 29.2% 32.2%
1 Year Return vs Industry and Market
  • ALKEY outperformed the Telecom industry which returned -8.3% over the past year.
  • ALKEY outperformed the Market in France which returned 3.5% over the past year.
Price Volatility
ALKEY
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Keyyo 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 Keyyo 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 Keyyo.

ENXTPA:ALKEY 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 6.1%
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:ALKEY
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.7%
Telecom Unlevered Beta Simply Wall St/ S&P Global 0.36
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.361 (1 + (1- 33%) (13.4%))
0.594
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (0.8 * 6.65%)
6.05%

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

The calculations below outline how an intrinsic value for Keyyo 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:ALKEY DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.05%)
2019 3.50 Analyst x1 3.30
2020 4.11 Est @ 17.46% 3.66
2021 4.62 Est @ 12.44% 3.88
2022 5.04 Est @ 8.93% 3.98
2023 5.36 Est @ 6.47% 4.00
2024 5.62 Est @ 4.75% 3.95
2025 5.82 Est @ 3.55% 3.85
2026 5.97 Est @ 2.7% 3.73
2027 6.10 Est @ 2.11% 3.59
2028 6.20 Est @ 1.7% 3.45
Present value of next 10 years cash flows €37.38
ENXTPA:ALKEY DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €6.20 × (1 + 0.73%) ÷ (6.05% – 0.73%)
€117.44
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €117.44 ÷ (1 + 6.05%)10
€65.25
ENXTPA:ALKEY Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €37.38 + €65.25
€102.63
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €102.63 / 1.79
€57.33
ENXTPA:ALKEY Discount to Share Price
Calculation Result
Value per share (EUR) From above. €57.33
Current discount Discount to share price of €33.70
= -1 x (€33.70 - €57.33) / €57.33
41.2%

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

Current Discount
Amount off the current price Keyyo is available for.
Intrinsic value
41%
Share price is €33.7 vs Future cash flow value of €57.33
Current Discount Checks
For Keyyo to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Keyyo's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Keyyo's share price is below the future cash flow value, and at a substantial discount (> 40%).
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 Keyyo's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Keyyo's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:ALKEY PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in EUR €1.22
ENXTPA:ALKEY Share Price ** ENXTPA (2019-04-16) in EUR €33.7
France Telecom Industry PE Ratio Median Figure of 5 Publicly-Listed Telecom Companies 17.5x
France Market PE Ratio Median Figure of 419 Publicly-Listed Companies 16.1x

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

** Primary Listing of Keyyo.

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

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

= 33.7 ÷ 1.22

27.62x

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

  • Keyyo is overvalued based on earnings compared to the FR Telecom industry average.
  • Keyyo is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does Keyyo's expected growth come at a high price?
Raw Data
ENXTPA:ALKEY PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
13.8%per year
Europe Telecom Industry PEG Ratio Median Figure of 36 Publicly-Listed Telecom Companies 2.04x
France Market PEG Ratio Median Figure of 270 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 27.62x ÷ 13.8%

2x

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

  • Keyyo is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Keyyo's assets?
Raw Data
ENXTPA:ALKEY PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in EUR €2.51
ENXTPA:ALKEY Share Price * ENXTPA (2019-04-16) in EUR €33.7
France Telecom Industry PB Ratio Median Figure of 6 Publicly-Listed Telecom Companies 1.61x
France Market PB Ratio Median Figure of 618 Publicly-Listed Companies 1.49x
ENXTPA:ALKEY PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 33.7 ÷ 2.51

13.44x

* Primary Listing of Keyyo.

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

  • Keyyo is overvalued based on assets compared to the FR Telecom industry average.
X
Value checks
We assess Keyyo'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 Telecom 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 Telecom industry average (and greater than 0)? (1 check)
  5. Keyyo has a total score of 2/6, 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 Keyyo 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
13.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Keyyo expected to grow at an attractive rate?
  • Keyyo's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Keyyo's earnings growth is expected to exceed the France market average.
  • Keyyo's revenue growth is expected to exceed the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:ALKEY Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:ALKEY Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts 13.8%
ENXTPA:ALKEY Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts 9.1%
France Telecom Industry Earnings Growth Rate Market Cap Weighted Average 16.3%
Europe Telecom Industry Revenue Growth Rate Market Cap Weighted Average 1.1%
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:ALKEY 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:ALKEY Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2019-12-31 32 3 1
2018-12-31 29 3 1
ENXTPA:ALKEY Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-06-30 28 3 3
2018-03-31 26 3 3
2017-12-31 24 3 2
2017-09-30 23 4 2
2017-06-30 23 4 2
2017-03-31 24 4 2
2016-12-31 25 3 2
2016-09-30 25 3 2
2016-06-30 25 3 2
2016-03-31 24 4 2
2015-12-31 24 4 2
2015-09-30 24 3 2

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Keyyo's earnings are expected to grow by 13.8% yearly, however this is not considered high growth (20% yearly).
  • Keyyo's revenue is expected to grow by 9.1% 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:ALKEY 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 Keyyo Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:ALKEY Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2019-12-31 1.73 1.73 1.73 1.00
2018-12-31 1.63 1.63 1.63 1.00
ENXTPA:ALKEY Past Financials Data
Date (Data in EUR Millions) EPS *
2018-06-30
2018-03-31
2017-12-31 1.22
2017-09-30 1.25
2017-06-30
2017-03-31
2016-12-31 0.89
2016-09-30 1.08
2016-06-30 1.06
2016-03-31
2015-12-31 1.05
2015-09-30 0.89

*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 Keyyo will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Keyyo'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 Europe 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.
Keyyo has a total score of 3/6, 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 Keyyo performed over the past 5 years?

  • Keyyo's last earnings update was 200 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 Keyyo's growth in the last year to its industry (Telecom).
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.
  • Keyyo has delivered over 20% year on year earnings growth in the past 5 years.
  • Keyyo's 1-year earnings growth exceeds its 5-year average (28% vs 22.2%)
  • Keyyo's earnings growth has exceeded the FR Telecom industry average in the past year (28% vs 7.4%).
Earnings and Revenue History
Keyyo'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 Keyyo Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:ALKEY 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 28.06 2.70 3.15
2018-03-31 26.24 2.54 2.90
2017-12-31 24.41 2.39 2.64
2017-09-30 22.98 2.25 2.63
2017-06-30 22.77 2.11 2.61
2017-03-31 23.70 2.01 2.69
2016-12-31 24.63 1.92 2.78
2016-09-30 24.67 2.11 2.76
2016-06-30 24.71 2.30 2.75
2016-03-31 24.42 2.28 2.72
2015-12-31 24.13 2.27 2.68
2015-09-30 23.77 1.96 2.69
2015-06-30 23.40 1.65 2.71
2015-03-31 22.87 1.45 2.76
2014-12-31 22.35 1.25 2.81
2014-09-30 21.95 1.10 2.96
2014-06-30 21.55 0.96 3.11
2014-03-31 21.49 0.93 3.22
2013-12-31 21.43 0.89 3.32
2013-09-30 21.70 0.81 3.34
2013-06-30 21.97 0.72 3.36
2013-03-31 22.10 0.66 3.47
2012-12-31 22.22 0.60 3.59
2012-09-30 22.39 0.53 3.54
2012-06-30 22.55 0.46 3.50

*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.
  • Whilst Keyyo made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • Keyyo used its assets more efficiently than the FR Telecom industry average last year based on Return on Assets.
  • Keyyo's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Keyyo'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 Telecom 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.
Keyyo 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 Keyyo'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 Keyyo's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Keyyo is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Keyyo's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Keyyo'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 1.5x 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 Keyyo Company Filings, last reported 9 months ago.

ENXTPA:ALKEY Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 6.13 8.08 8.14
2018-03-31 6.13 8.08 8.14
2017-12-31 4.50 9.27 11.73
2017-09-30 4.50 9.27 11.73
2017-06-30 3.18 3.46 5.29
2017-03-31 3.18 3.46 5.29
2016-12-31 5.03 4.17 7.93
2016-09-30 5.03 4.17 7.93
2016-06-30 3.98 4.51 7.17
2016-03-31 3.98 4.51 7.17
2015-12-31 3.91 4.82 7.62
2015-09-30 3.91 4.82 7.62
2015-06-30 2.47 3.72 5.11
2015-03-31 2.47 3.72 5.11
2014-12-31 3.57 1.93 4.33
2014-09-30 3.57 1.93 4.33
2014-06-30 2.89 2.05 4.00
2014-03-31 2.89 2.05 4.00
2013-12-31 2.76 2.04 3.80
2013-09-30 2.76 2.04 3.80
2013-06-30 5.17 2.03 6.00
2013-03-31 5.17 2.03 6.00
2012-12-31 4.78 0.09 3.07
2012-09-30 4.78 0.09 3.07
2012-06-30 5.81 0.10 3.99
  • Keyyo's level of debt (131.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (39.4% vs 131.8% today).
  • Debt is well covered by operating cash flow (41.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 89.7x coverage).
X
Financial health checks
We assess Keyyo'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. Keyyo has a total score of 4/6, 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 Keyyo'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
1.04%
Current annual income from Keyyo dividends.
If you bought €2,000 of Keyyo shares you are expected to receive €21 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?
  • Keyyo's pays a lower dividend yield than the bottom 25% of dividend payers in France (1.56%).
  • Keyyo's dividend is below the markets top 25% of dividend payers in France (4.45%).
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:ALKEY 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 Telecom Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 4.3%
France Market Average Dividend Yield Market Cap Weighted Average of 322 Stocks 3%
France Minimum Threshold Dividend Yield 10th Percentile 1%
France Bottom 25% Dividend Yield 25th Percentile 1.6%
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:ALKEY Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2019-12-31
2018-12-31
ENXTPA:ALKEY Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2017-04-28 0.350 1.633
2016-05-03 0.350 2.699
2016-04-28 0.350 3.563
2015-05-04 0.300 3.650

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

  • Whilst dividend payments have been stable, Keyyo has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Keyyo only paid a dividend in the past 4 years.
Current Payout to shareholders
What portion of Keyyo's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Keyyo 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 Keyyo'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 Keyyo afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Keyyo 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 Keyyo'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
Philippe Houdouin
COMPENSATION €0
AGE 56
TENURE AS CEO 10.3 years
CEO Bio

Mr. Philippe Houdouin serves as the Chief Executive Officer of Keyyo S.A. (formerly Phone Systems & Network SA) since 2009 and served as its Member of Management Board since December 2006. Mr. Houdouin has been an Executive Vice President of Central and Eastern Europe activities of Vivendi Telecom International (VTI) since 2000. He serves as the Chairman at Keyyo S.A. and served as its Investor Relations Officer. He served as a Managing Director of Phone Systems & Network SA, since December 19, 2006. Mr. Houdouin served as the Chief Financial Officer of VTI from 1998 to 2000. From 1991 to 1997, he served as a Director of Bridgepoint Capital SA (formerly Natwest Equity Partners) one of the leading European private equity funds, in charge of LBO/LBI transactions. He started his career in 1988 as a consultant with SRI International (ex Stanford Research Institute) specializing in strategic and business consulting (automotive, computer and multimedia sectors). Mr. Houdouin serves as the Chairman of the Management Board of Elektrim Telekomunikacja Sp. z o.o. and Carcom Warszawa Sp. z o.o. He serves as a Member of the Management Board at Elektrim Autoinvest S.A. He serves as a Director of Lascom. He has been a Director of Phone Systems & Network SA., since May 19, 2006. He serves as a Member of the Supervisory Board of SAS Agambo. He served as Member of Supervisory Board of Polska Telefonia Cyfrowa Sp Zoo since 2002. Mr. Houdouin is an engineer from the Naval School and holds the HEC Masters degree for Entrepreneurs. Mr. Houdouin graduated from & nbsp, the Ecole Navale and from Ecole des Hautes Etudes Commerciales.

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

Philippe Houdouin

TITLE
Chairman of the Board & CEO
AGE
56
TENURE
10.3 yrs

Edouard Booss

TITLE
Chief Financial Officer
Board of Directors

Philippe Houdouin

TITLE
Chairman of the Board & CEO
AGE
56

Michel Picot

TITLE
Director
COMPENSATION
€11K

Aldo Mareuse

TITLE
Director
COMPENSATION
€5K

Silvère Baudoin

TITLE
Director

Delphine Drouets

TITLE
Director
COMPENSATION
€11K
TENURE
3.5 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 (€)
21. Mar 19 Sell Oddo Bhf Asset Management SAS Company 20. Mar 19 20. Mar 19 -95,000 €34.00 €-3,230,000
30. Jan 19 Buy Bouygues SA Company 29. Jan 19 29. Jan 19 49,287 €34.00 €1,675,758
25. Jan 19 Buy Oddo Bhf Asset Management SAS Company 23. Jan 19 23. Jan 19 5,898 €33.80 €199,352
25. Jan 19 Buy Bouygues SA Company 24. Jan 19 24. Jan 19 50,029 €34.00 €1,700,986
23. Jan 19 Buy Oddo Bhf Asset Management SAS Company 22. Jan 19 22. Jan 19 8,736 €33.80 €295,277
23. Jan 19 Buy Bouygues SA Company 22. Jan 19 22. Jan 19 26,367 €34.00 €896,478
17. Jan 19 Buy Oddo Bhf Asset Management SAS Company 16. Jan 19 16. Jan 19 5,516 €33.70 €185,889
17. Dec 18 Buy Oddo Bhf Asset Management SAS Company 14. Dec 18 14. Dec 18 1,241 €33.47 €41,536
03. Dec 18 Buy Oddo Bhf Asset Management SAS Company 30. Nov 18 30. Nov 18 5,637 €33.40 €188,276
26. Nov 18 Buy Oddo Bhf Asset Management SAS Company 23. Nov 18 23. Nov 18 3,097 €33.40 €103,440
19. Nov 18 Buy Oddo Bhf Asset Management SAS Company 16. Nov 18 16. Nov 18 5,260 €33.40 €175,684
12. Nov 18 Buy Oddo Bhf Asset Management SAS Company 09. Nov 18 09. Nov 18 29,243 €33.37 €975,839
X
Management checks
We assess Keyyo'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. Keyyo 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

Are Keyyo S.A.’s (EPA:ALKEY) High Returns Really That Great?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … Understanding Return On Capital Employed (ROCE). … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Is Keyyo SA (EPA:ALKEY) A Good Dividend Stock?

In the last few years Keyyo SA (EPA:ALKEY) has paid a dividend to shareholders. … Let's dig deeper into whether Keyyo should have a place in your portfolio. … View our latest analysis for Keyyo

Simply Wall St -

Estimating The Fair Value Of Keyyo SA (EPA:ALKEY)

by taking the foreast future cash flows of the company and discounting them back to today's value. … discounted cash flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Does Keyyo SA's (EPA:ALKEY) Past Performance Indicate A Stronger Future?

After reading Keyyo SA's (EPA:ALKEY) latest earnings update (30 June 2018), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … As a long-term investor I tend to pay attention to earnings trend, rather than a single number at one point in time. … Did ALKEY beat its long-term earnings growth trend and its industry.

Simply Wall St -

Who Owns Keyyo SA (EPA:ALKEY)?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Keyyo is a smaller company with a market capitalization of €45m, so it may still be flying under the radar of many institutional investors. … institutional investors have bought into the company.

Simply Wall St -

Keyyo SA (EPA:ALKEY): Assessing Capital Returns

This is because the actual cash flow generated by the business dictates the potential for income (dividends) and capital appreciation (price increases), which are the two ways to achieve positive returns when buying a stock. … Thus, to understand how your money can grow by investing in Keyyo, 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) … Calculating Return On Capital Employed for ALKEY

Simply Wall St -

Is Keyyo SA (EPA:ALKEY) Attractive At Its Current PE Ratio?

Although some investors may jump to the conclusion that you should avoid the stock or sell if you own it, understanding the assumptions behind the P/E ratio might change your mind. … I will break down what the P/E ratio is, how to interpret it and what to watch out for … Demystifying the P/E ratio

Simply Wall St -

Does Keyyo SA (EPA:ALKEY) Have A Place In Your Portfolio?

Keyyo SA (EPA:ALKEY) has returned to shareholders over the past 3 years, an average dividend yield of 3.00% annually. … Does Keyyo tick all the boxes of a great dividend stock? … How I analyze a dividend stock

Simply Wall St -

Keyyo SA (EPA:ALKEY): A Fundamentally Attractive Investment

In the case of Keyyo SA (EPA:ALKEY), there's. … Below, I've touched on some key aspects you should know on a high level … For those interested in digger a bit deeper into my commentary,

Simply Wall St -

Is Keyyo SA's (EPA:ALKEY) Balance Sheet Strong Enough To Weather A Storm?

While small-cap stocks, such as Keyyo SA (EPA:ALKEY) with its market cap of €44.75m, are popular for their explosive growth, investors should also be aware of their balance sheet to judge whether the company can survive a downturn. … Companies operating in the Telecom industry facing headwinds from current disruption,.

Simply Wall St -

Company Info

Description

Keyyo S.A. operates as a telecom services provider in France. The company provides telephone switchboard, fixed and mobile telephony, Internet, equipment, etc. It also offers IP phones, office phones that drive with smartphones, and softphones; and data and equipment packages, such as 4G routers, 4G routers, WiFi hotspots, and 4G keys. The company was founded in 1994 and is based in Clichy, France. As of March 15, 2019, Keyyo S.A. operates as a subsidiary of Bouygues Telecom SA.

Details
Name: Keyyo S.A.
ALKEY
Exchange: ENXTPA
Founded: 1994
€60,324,280
1,790,038
Website: http://www.keyyo.com
Address: Keyyo S.A.
92-98 bd Victor Hugo,
Clichy,
Ile-de-France, 92115,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA ALKEY Ordinary Shares Euronext Paris FR EUR 29. Nov 2002
Number of employees
Current staff
Staff numbers
134
Keyyo employees.
Industry
Alternative Carriers
Telecom
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/16 20:52
End of day share price update: 2019/04/16 00:00
Last estimates confirmation: 2018/11/19
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.