ENXTPA:SMTPC

Stock Analysis Report

Société Marseillaise du Tunnel Prado Carénage

Executive Summary

Société Marseillaise du Tunnel Prado Carénage constructs and operates tunnels in France.


Snowflake Analysis

Flawless balance sheet, undervalued and pays a dividend.

Share Price & News

How has Société Marseillaise du Tunnel Prado Carénage's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SMTPC has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-5.2%

SMTPC

-5.3%

FR Infrastructure

-4.5%

FR Market


1 Year Return

12.4%

SMTPC

2.5%

FR Infrastructure

10.5%

FR Market

Return vs Industry: SMTPC exceeded the French Infrastructure industry which returned 2.5% over the past year.

Return vs Market: SMTPC matched the French Market which returned 10.5% over the past year.


Shareholder returns

SMTPCIndustryMarket
7 Day-5.2%-5.3%-4.5%
30 Day-0.9%-3.8%-3.2%
90 Day15.7%-6.1%-1.3%
1 Year23.5%12.4%5.0%2.5%14.4%10.5%
3 Year19.8%-6.0%69.9%58.8%38.5%25.4%
5 Year-8.8%-36.1%56.4%39.5%47.2%26.5%

Price Volatility Vs. Market

How volatile is Société Marseillaise du Tunnel Prado Carénage's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Société Marseillaise du Tunnel Prado Carénage undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: SMTPC (€21.7) is trading below our estimate of fair value (€56.12)

Significantly Below Fair Value: SMTPC is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: SMTPC is good value based on its PE Ratio (10.5x) compared to the Infrastructure industry average (15.6x).

PE vs Market: SMTPC is good value based on its PE Ratio (10.5x) compared to the French market (18.1x).


Price to Earnings Growth Ratio

PEG Ratio: SMTPC's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: SMTPC is good value based on its PB Ratio (2.1x) compared to the FR Infrastructure industry average (2.1x).


Next Steps

Future Growth

How is Société Marseillaise du Tunnel Prado Carénage forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-6.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SMTPC's earnings are forecast to decline over the next 3 years (-6.9% per year).

Earnings vs Market: SMTPC's earnings are forecast to decline over the next 3 years (-6.9% per year).

High Growth Earnings: SMTPC's earnings are forecast to decline over the next 3 years.

Revenue vs Market: SMTPC's revenue (1.8% per year) is forecast to grow slower than the French market (4.6% per year).

High Growth Revenue: SMTPC's revenue (1.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SMTPC's Return on Equity is forecast to be low in 3 years time (15.8%).


Next Steps

Past Performance

How has Société Marseillaise du Tunnel Prado Carénage performed over the past 5 years?

2.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SMTPC has high quality earnings.

Growing Profit Margin: SMTPC's current net profit margins (33.6%) are lower than last year (38.9%).


Past Earnings Growth Analysis

Earnings Trend: SMTPC's earnings have grown by 2.6% per year over the past 5 years.

Accelerating Growth: SMTPC's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SMTPC had negative earnings growth (-21.8%) over the past year, making it difficult to compare to the Infrastructure industry average (10.8%).


Return on Equity

High ROE: SMTPC's Return on Equity (20.2%) is considered high.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Société Marseillaise du Tunnel Prado Carénage's financial position?


Financial Position Analysis

Short Term Liabilities: SMTPC's short term assets (€31.8M) exceed its short term liabilities (€4.4M).

Long Term Liabilities: SMTPC's short term assets (€31.8M) exceed its long term liabilities (€3.5M).


Debt to Equity History and Analysis

Debt Level: SMTPC is debt free.

Reducing Debt: SMTPC has no debt compared to 5 years ago when its debt to equity ratio was 71.1%.

Debt Coverage: SMTPC has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: SMTPC has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: SMTPC has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if SMTPC's debt is covered by short term assets.


Next Steps

Dividend

What is Société Marseillaise du Tunnel Prado Carénage's current dividend yield, its reliability and sustainability?

8.76%

Current Dividend Yield


Dividend Yield vs Market

company8.8%marketbottom25%1.6%markettop25%4.7%industryaverage4.2%forecastin3Years8.8%

Current dividend yield vs market & industry

Notable Dividend: SMTPC's dividend (8.76%) is higher than the bottom 25% of dividend payers in the French market (1.6%).

High Dividend: SMTPC's dividend (8.76%) is in the top 25% of dividend payers in the French market (4.68%)


Stability and Growth of Payments

Stable Dividend: SMTPC's dividends per share have been stable in the past 10 years.

Growing Dividend: SMTPC's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (92%), SMTPC's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: SMTPC's dividends in 3 years are not forecast to be well covered by earnings (108.8% payout ratio).


Next Steps

  • Explore strong dividend paying companies in the Transportation industry.

Management

How experienced are the management team and are they aligned to shareholders interests?

2.7yrs

Average board tenure


CEO

Cecile Cambier 0

€340,195

Compensation

Ms. Cecile Cambier serves as Chief Executive Officer at Société Marseillaise du Tunnel Prado Carénage and served as its Managing Director. 


CEO Compensation Analysis

Compensation vs Market: Cecile's total compensation ($USD369.26K) is about average for companies of similar size in the French market ($USD312.60K).

Compensation vs Earnings: Cecile's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Board Members

NamePositionTenureCompensationOwnership
Fadi Selwan
Director5.4yrs€6.27kno data
Claude Abraham
Honorary Chairman0yrsno datano data
Gilbert Saby
Honorary President0yrs€54.27kno data
Marc Legrand
Director1.1yrs€4.00kno data
Francoise Brocco
Director7.8yrs€9.60kno data
Isabelle Salaun
Director5.8yrs€7.60kno data
Philippe NOURRY
Director2.3yrs€5.20kno data
Brigitte Simon
Director2.6yrs€6.13kno data
Ghislaine Baillemont
Director2.8yrs€3.60kno data
Pierre Rimattei
Chairman of the Board of Directors2yrs€29.40kno data

2.7yrs

Average Tenure

59yo

Average Age

Experienced Board: SMTPC's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Société Marseillaise du Tunnel Prado Carénage's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Société Marseillaise du Tunnel Prado Carénage
  • Ticker: SMTPC
  • Exchange: ENXTPA
  • Founded: 1989
  • Industry: Highways and Railtracks
  • Sector: Transportation
  • Market Cap: €126.674m
  • Shares outstanding: 5.84m
  • Website: https://www.tunnelprado.com

Number of Employees


Location

  • Société Marseillaise du Tunnel Prado Carénage
  • 3, Avenue Arthur Scott
  • Marseille
  • Provence-Alpes-Côte d'Azur
  • 13010
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SMTPCENXTPA (Euronext Paris)YesOrdinary SharesFREURJul 2004
0G2CLSE (London Stock Exchange)YesOrdinary SharesGBEURJul 2004
SMTPCPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJul 2004

Biography

Société Marseillaise du Tunnel Prado Carénage constructs and operates tunnels in France. It operates the Prado Carénage tunnel, a 2.5 kilometer tunnel that provides access to the southern districts of the city of Marseilles, as well as to the Vieux port; Rège tunnel, an access point, which passes the 26th Centenary Park and connects the Prado/Rouet districts to those of Menpenti/la Capelette; and South Prado tunnel. The company was founded in 1989 and is based in Marseille, France. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/25 21:13
End of Day Share Price2020/02/25 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.