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Société Marseillaise du Tunnel Prado Carénage

ENXTPA:SMTPC
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SMTPC
ENXTPA
€106M
Market Cap
  1. Home
  2. FR
  3. Transportation
Company description

Société Marseillaise du Tunnel Prado Carénage constructs and operates tunnels in France. The last earnings update was 77 days ago. More info.


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SMTPC Share Price and Events
7 Day Returns
0.3%
ENXTPA:SMTPC
1.8%
FR Infrastructure
0.1%
FR Market
1 Year Returns
-11.7%
ENXTPA:SMTPC
-8.4%
FR Infrastructure
2.4%
FR Market
SMTPC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Société Marseillaise du Tunnel Prado Carénage (SMTPC) 0.3% -6.7% -7.8% -11.7% -37.5% -39.8%
FR Infrastructure 1.8% 2.9% -6.6% -8.4% 56.6% 47.5%
FR Market 0.1% 0.8% -0.3% 2.4% 33.3% 35.5%
1 Year Return vs Industry and Market
  • SMTPC underperformed the Infrastructure industry which returned -8.4% over the past year.
  • SMTPC underperformed the Market in France which returned 2.4% over the past year.
Price Volatility
SMTPC
Industry
5yr Volatility vs Market
Related Companies

SMTPC Value

 Is Société Marseillaise du Tunnel Prado Carénage 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 Société Marseillaise du Tunnel Prado Carénage 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 Société Marseillaise du Tunnel Prado Carénage.

ENXTPA:SMTPC 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 6.9%
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:SMTPC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.7%
Infrastructure Unlevered Beta Simply Wall St/ S&P Global 0.84
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.837 (1 + (1- 33%) (9.04%))
0.925
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.92
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (0.925 * 6.65%)
6.88%

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

The calculations below outline how an intrinsic value for Société Marseillaise du Tunnel Prado Carénage 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:SMTPC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.88%)
2020 14.00 Analyst x1 13.10
2021 12.68 Est @ -9.43% 11.10
2022 11.87 Est @ -6.38% 9.72
2023 11.37 Est @ -4.25% 8.71
2024 11.05 Est @ -2.75% 7.92
2025 10.86 Est @ -1.71% 7.29
2026 10.76 Est @ -0.98% 6.75
2027 10.71 Est @ -0.46% 6.29
2028 10.70 Est @ -0.1% 5.88
2029 10.71 Est @ 0.15% 5.51
Present value of next 10 years cash flows €82.26
ENXTPA:SMTPC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €10.71 × (1 + 0.73%) ÷ (6.88% – 0.73%)
€175.45
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €175.45 ÷ (1 + 6.88%)10
€90.16
ENXTPA:SMTPC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €82.26 + €90.16
€172.42
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €172.42 / 5.84
€29.54
ENXTPA:SMTPC Discount to Share Price
Calculation Result
Value per share (EUR) From above. €29.54
Current discount Discount to share price of €18.20
= -1 x (€18.20 - €29.54) / €29.54
38.4%

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

Current Discount
Amount off the current price Société Marseillaise du Tunnel Prado Carénage is available for.
Intrinsic value
38%
Share price is €18.2 vs Future cash flow value of €29.54
Current Discount Checks
For Société Marseillaise du Tunnel Prado Carénage to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Société Marseillaise du Tunnel Prado Carénage's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Société Marseillaise du Tunnel Prado Carénage's share price is below the future cash flow value, but not 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 Société Marseillaise du Tunnel Prado Carénage's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Société Marseillaise du Tunnel Prado Carénage's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:SMTPC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €2.31
ENXTPA:SMTPC Share Price ** ENXTPA (2019-07-19) in EUR €18.2
Europe Infrastructure Industry PE Ratio Median Figure of 33 Publicly-Listed Infrastructure Companies 21.75x
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 Société Marseillaise du Tunnel Prado Carénage.

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

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

= 18.2 ÷ 2.31

7.87x

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

  • Société Marseillaise du Tunnel Prado Carénage is good value based on earnings compared to the Europe Infrastructure industry average.
  • Société Marseillaise du Tunnel Prado Carénage is good value based on earnings compared to the France market.
Price based on expected Growth
Does Société Marseillaise du Tunnel Prado Carénage's expected growth come at a high price?
Raw Data
ENXTPA:SMTPC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 7.87x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts
-0.5%per year
Europe Infrastructure Industry PEG Ratio Median Figure of 21 Publicly-Listed Infrastructure Companies 2.67x
France Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.55x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 7.87x ÷ -0.5%

-15.81x

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

  • Société Marseillaise du Tunnel Prado Carénage earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Société Marseillaise du Tunnel Prado Carénage's assets?
Raw Data
ENXTPA:SMTPC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €11.15
ENXTPA:SMTPC Share Price * ENXTPA (2019-07-19) in EUR €18.2
France Infrastructure Industry PB Ratio Median Figure of 5 Publicly-Listed Infrastructure Companies 1.62x
France Market PB Ratio Median Figure of 614 Publicly-Listed Companies 1.46x
ENXTPA:SMTPC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 18.2 ÷ 11.15

1.63x

* Primary Listing of Société Marseillaise du Tunnel Prado Carénage.

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

  • Société Marseillaise du Tunnel Prado Carénage is overvalued based on assets compared to the FR Infrastructure industry average.
X
Value checks
We assess Société Marseillaise du Tunnel Prado Carénage'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 Infrastructure 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 Infrastructure industry average (and greater than 0)? (1 check)
  5. Société Marseillaise du Tunnel Prado Carénage has a total score of 3/6, 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.

SMTPC Future Performance

 How is Société Marseillaise du Tunnel Prado Carénage 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
-0.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Société Marseillaise du Tunnel Prado Carénage expected to grow at an attractive rate?
  • Société Marseillaise du Tunnel Prado Carénage's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Société Marseillaise du Tunnel Prado Carénage's earnings are expected to decrease over the next 1-3 years, this is below the France market average.
  • Société Marseillaise du Tunnel Prado Carénage's revenues are expected to decrease over the next 1-3 years, this is below the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:SMTPC Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:SMTPC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 1 Analysts -0.5%
ENXTPA:SMTPC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 1 Analysts -1.8%
Europe Infrastructure Industry Earnings Growth Rate Market Cap Weighted Average 5.7%
Europe Infrastructure Industry Revenue Growth Rate Market Cap Weighted Average 2.3%
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:SMTPC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 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:SMTPC Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 36 13 1
2020-12-31 34 17 12 1
2019-12-31 33 16 11 1
ENXTPA:SMTPC Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 38 23 13
2018-09-30 39 24 14
2018-06-30 40 25 15
2018-03-31 40 23 15
2017-12-31 40 22 15
2017-09-30 40 22 14
2017-06-30 40 22 14
2017-03-31 41 22 14
2016-12-31 41 22 14
2016-09-30 41 22 14
2016-06-30 41 22 14
2016-03-31 41 22 14

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Société Marseillaise du Tunnel Prado Carénage's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Société Marseillaise du Tunnel Prado Carénage's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
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:SMTPC 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 1 Analyst Estimates (S&P Global) See Below

All data from Société Marseillaise du Tunnel Prado Carénage Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:SMTPC Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 2.24 2.24 2.24 1.00
2020-12-31 2.00 2.00 2.00 1.00
2019-12-31 1.89 1.89 1.89 1.00
ENXTPA:SMTPC Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 2.31
2018-09-30 2.48
2018-06-30 2.64
2018-03-31 2.60
2017-12-31 2.56
2017-09-30 2.45
2017-06-30 2.34
2017-03-31 2.38
2016-12-31 2.42
2016-09-30 2.43
2016-06-30 2.44
2016-03-31 2.41

*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.
  • Société Marseillaise du Tunnel Prado Carénage is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Société Marseillaise du Tunnel Prado Carénage'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 Europe 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.
Société Marseillaise du Tunnel Prado Carénage 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.

SMTPC Past Performance

  How has Société Marseillaise du Tunnel Prado Carénage 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 Société Marseillaise du Tunnel Prado Carénage's growth in the last year to its industry (Infrastructure).
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.
  • Société Marseillaise du Tunnel Prado Carénage's year on year earnings growth rate has been positive over the past 5 years.
  • Société Marseillaise du Tunnel Prado Carénage's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Société Marseillaise du Tunnel Prado Carénage's 1-year earnings growth is negative, it can't be compared to the Europe Infrastructure industry average.
Earnings and Revenue History
Société Marseillaise du Tunnel Prado Carénage'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 Société Marseillaise du Tunnel Prado Carénage Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:SMTPC 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 38.30 13.50 0.40
2018-09-30 38.99 14.46 0.41
2018-06-30 39.67 15.42 0.43
2018-03-31 39.71 15.19 0.44
2017-12-31 39.74 14.96 0.46
2017-09-30 39.93 14.31 0.45
2017-06-30 40.13 13.66 0.43
2017-03-31 40.57 13.90 0.45
2016-12-31 41.01 14.14 0.47
2016-09-30 40.94 14.19 0.49
2016-06-30 40.88 14.25 0.51
2016-03-31 40.80 14.08 0.50
2015-12-31 40.72 13.91 0.49
2015-09-30 40.83 13.50 0.48
2015-06-30 40.93 13.08 0.48
2015-03-31 40.48 12.51 0.46
2014-12-31 40.02 11.94 0.43
2014-09-30 39.27 11.71 0.42
2014-06-30 38.53 11.47 0.41
2014-03-31 37.65 11.44 0.41
2013-12-31 36.76 11.40 0.40
2013-09-30 36.16 11.27 0.40
2013-06-30 35.56 11.15 0.40
2013-03-31 35.39 10.99 0.39
2012-12-31 35.21 10.83 0.38
2012-09-30 34.95 10.64 0.39

*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.
  • Société Marseillaise du Tunnel Prado Carénage has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Société Marseillaise du Tunnel Prado Carénage used its assets more efficiently than the Europe Infrastructure industry average last year based on Return on Assets.
  • Société Marseillaise du Tunnel Prado Carénage has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Société Marseillaise du Tunnel Prado Carénage'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 Infrastructure 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.
Société Marseillaise du Tunnel Prado Carénage 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.

SMTPC Health

 How is Société Marseillaise du Tunnel Prado Carénage'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 Société Marseillaise du Tunnel Prado Carénage's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Société Marseillaise du Tunnel Prado Carénage is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Société Marseillaise du Tunnel Prado Carénage's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Société Marseillaise du Tunnel Prado Carénage'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4.4x 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 Société Marseillaise du Tunnel Prado Carénage Company Filings, last reported 6 months ago.

ENXTPA:SMTPC Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 65.07 9.61 40.65
2018-09-30 65.07 9.61 40.65
2018-06-30 58.85 12.16 32.92
2018-03-31 58.85 12.16 32.92
2017-12-31 62.66 14.72 35.01
2017-09-30 62.66 14.72 35.01
2017-06-30 54.52 17.36 26.22
2017-03-31 54.52 17.36 26.22
2016-12-31 58.80 19.99 31.36
2016-09-30 58.80 19.99 31.36
2016-06-30 51.95 22.65 24.88
2016-03-31 51.95 22.65 24.88
2015-12-31 55.75 25.31 30.14
2015-09-30 55.75 25.31 30.14
2015-06-30 48.80 27.97 21.21
2015-03-31 48.80 27.97 21.21
2014-12-31 52.93 30.62 24.73
2014-09-30 52.93 30.62 24.73
2014-06-30 46.81 33.37 15.51
2014-03-31 46.81 33.37 15.51
2013-12-31 52.08 36.12 19.37
2013-09-30 52.08 36.12 19.37
2013-06-30 46.43 38.83 11.02
2013-03-31 46.43 38.83 11.02
2012-12-31 51.19 41.53 15.64
2012-09-30 51.19 41.53 15.64
  • Société Marseillaise du Tunnel Prado Carénage's level of debt (14.8%) 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 (69.4% vs 14.8% today).
  • Debt is well covered by operating cash flow (235.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 357.8x coverage).
X
Financial health checks
We assess Société Marseillaise du Tunnel Prado Carénage'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. Société Marseillaise du Tunnel Prado Carénage 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.

SMTPC Dividends

 What is Société Marseillaise du Tunnel Prado Carénage'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
10.44%
Current annual income from Société Marseillaise du Tunnel Prado Carénage dividends. Estimated to be 10.99% next year.
If you bought €2,000 of Société Marseillaise du Tunnel Prado Carénage shares you are expected to receive €209 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?
  • Société Marseillaise du Tunnel Prado Carénage's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.53%).
  • Société Marseillaise du Tunnel Prado Carénage's dividend is above 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:SMTPC 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
Europe Infrastructure Industry Average Dividend Yield Market Cap Weighted Average of 31 Stocks 3.3%
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.

ENXTPA:SMTPC Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 2.10 1.00
2020-12-31 2.00 1.00
2019-12-31 1.90 1.00
ENXTPA:SMTPC Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-05-03 1.900 9.765
2019-03-19 1.900 9.452
2018-05-07 1.900 9.645
2018-01-15 1.900 7.927
2017-04-19 1.900 8.730
2017-02-03 1.900 8.107
2016-03-29 1.900 6.121
2016-02-05 1.900 5.717
2015-06-15 1.900 5.653
2015-04-07 1.900 5.671
2014-05-19 1.900 6.136
2014-02-03 1.900 6.152
2013-05-03 1.800 6.413
2013-02-06 1.800 6.518
2012-07-25 1.700 6.604
2012-05-16 1.700 7.399
2012-01-31 1.700 6.298
2011-03-01 1.600 6.284
2011-02-15 1.600 5.981
2010-02-23 1.500 5.861
2010-02-22 1.500 5.400
2009-07-30 1.400 5.208
2009-02-23 1.400 6.110

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

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Société Marseillaise du Tunnel Prado Carénage's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess Société Marseillaise du Tunnel Prado Carénage'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 Société Marseillaise du Tunnel Prado Carénage afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Société Marseillaise du Tunnel Prado Carénage has a total score of 5/6, see the detailed checks below.


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

SMTPC Management

 What is the CEO of Société Marseillaise du Tunnel Prado Carénage'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
Cecile Cambier
COMPENSATION €340,195
CEO Bio

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

CEO Compensation
  • Cecile's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Cecile's remuneration is higher than average for companies of similar size in France.
Management Team

Cecile Cambier

TITLE
Chief Executive Officer
COMPENSATION
€340K

Marc Della Pieta

TITLE
Chief Management

Lyazid Fourar

TITLE
Chief Technical Officer

Emilie Saby

TITLE
Chief Marketing & Communication Officer

François Janin

TITLE
Chief HR Officer

François Maiorana

TITLE
Chief IT Officer

Jean-Brice Gallini

TITLE
Chief Security Trafic Officer

Dominique Monnier

TITLE
Chief Equipment Officer
Board of Directors

Pierre Rimattei

TITLE
Chairman of the Board of Directors
COMPENSATION
€29K
TENURE
1.4 yrs

Claude Abraham

TITLE
Honorary Chairman

Olivier De Guinaumont

TITLE
Director
COMPENSATION
€4K

Pierre Louis Delseny

TITLE
Director
COMPENSATION
€5K

Fadi Selwan

TITLE
Director
COMPENSATION
€6K
AGE
54

Max Roche

TITLE
Director
COMPENSATION
€6K
AGE
66

Marc Legrand

TITLE
Director
COMPENSATION
€4K

Sébastien Morant

TITLE
Director
COMPENSATION
€3K
AGE
55

Francoise Brocco

TITLE
Director
COMPENSATION
€10K

Isabelle Salaun

TITLE
Director
COMPENSATION
€8K
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 Société Marseillaise du Tunnel Prado Carénage'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. Société Marseillaise du Tunnel Prado Carénage 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.

SMTPC News

Simply Wall St News

Here's What Société Marseillaise du Tunnel Prado Carénage's (EPA:SMTPC) P/E Ratio Is Telling Us

The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Société Marseillaise du Tunnel Prado Carénage: P/E of 7.98 = €18.45 ÷ €2.31 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? … ENXTPA:SMTPC Price Estimation Relative to Market, July 10th 2019 Its relatively low P/E ratio indicates that Société Marseillaise du Tunnel Prado Carénage shareholders think it will struggle to do as well as other companies in its industry classification. … Société Marseillaise du Tunnel Prado Carénage's earnings per share fell by 9.7% in the last twelve months.

Simply Wall St -

Is Société Marseillaise du Tunnel Prado Carénage's (EPA:SMTPC) CEO Salary Justified?

See our latest analysis for Société Marseillaise du Tunnel Prado Carénage How Does Cecile Cambier's Compensation Compare With Similar Sized Companies? … It would therefore appear that Société Marseillaise du Tunnel Prado Carénage pays Cecile Cambier more than the median CEO remuneration at companies of a similar size, in the same market. … We compared total CEO remuneration at Société Marseillaise du Tunnel Prado Carénage with the amount paid at companies with a similar market capitalization.

Simply Wall St -

How Much is Société Marseillaise du Tunnel Prado Carénage's (EPA:SMTPC) CEO Getting Paid?

According to our data, Société Marseillaise du Tunnel Prado Carénage has a market capitalization of €112m, and pays its CEO total annual compensation worth €340k. … Thus we can conclude that Cecile Cambier receives more in total compensation than the median of a group of companies in the same market, and of similar size to Société Marseillaise du Tunnel Prado Carénage. … We compared the total CEO remuneration paid by Société Marseillaise du Tunnel Prado Carénage, and compared it to remuneration at a group of similar sized companies.

Simply Wall St -

Why Société Marseillaise du Tunnel Prado Carénage (EPA:SMTPC) Looks Like A Quality Company

Check out our latest analysis for Société Marseillaise du Tunnel Prado Carénage How Do I Calculate Return On Equity? … The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Société Marseillaise du Tunnel Prado Carénage: 21% = €13m ÷ €65m (Based on the trailing twelve months to December 2018.) Most readers would understand what net profit is, but it’s worth explaining the concept of shareholders’ equity. … Does Société Marseillaise du Tunnel Prado Carénage Have A Good Return On Equity?

Simply Wall St -

Was Société Marseillaise du Tunnel Prado Carénage's (EPA:SMTPC) Earnings Decline Part Of A Broader Industry Downturn?

See our latest analysis for Société Marseillaise du Tunnel Prado Carénage Despite a decline, did SMTPC underperform the long-term trend and the industry? … Furthermore, its return on assets (ROA) of 16% exceeds the FR Infrastructure industry of 5.6%, indicating Société Marseillaise du Tunnel Prado Carénage has used its assets more efficiently. … I recommend you continue to research Société Marseillaise du Tunnel Prado Carénage to get a more holistic view of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for SMTPC’s future growth?

Simply Wall St -

Société Marseillaise du Tunnel Prado Carénage (EPA:SMTPC) Has Attractive Fundamentals

In the case of Société Marseillaise du Tunnel Prado Carénage (EPA:SMTPC), there's is a financially-healthy company with a a strong track record superior dividend payments, trading at a great value. … For those interested in understanding where the figures come from and want to see the analysis, read the full report on Société Marseillaise du Tunnel Prado Carénage here. … ENXTPA:SMTPC Historical Dividend Yield, May 16th 2019 Next Steps: For Société Marseillaise du Tunnel Prado Carénage, there are three fundamental factors you should further research: Future Outlook: What are well-informed industry analysts predicting for SMTPC’s future growth?

Simply Wall St -

Did You Manage To Avoid Société Marseillaise du Tunnel Prado Carénage's (EPA:SMTPC) 39% Share Price Drop?

Unfortunately, that's been the case for longer term Société Marseillaise du Tunnel Prado Carénage (EPA:SMTPC) shareholders, since the share price is down 39% in the last three years, falling well short of the market return of around 47%. … Check out our latest analysis for Société Marseillaise du Tunnel Prado Carénage. … Société Marseillaise du Tunnel Prado Carénage saw its EPS decline at a compound rate of 1.0% per year, over the last three years.

Simply Wall St -

Here's What Société Marseillaise du Tunnel Prado Carénage's (EPA:SMTPC) ROCE Can Tell Us

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 is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Could Société Marseillaise du Tunnel Prado Carénage's (EPA:SMTPC) Investor Composition Influence The Stock Price?

A look at the shareholders of Société Marseillaise du Tunnel Prado Carénage (EPA:SMTPC) can tell us which group is most powerful. … Société Marseillaise du Tunnel Prado Carénage is not a large company by global standards. … Taking a look at our data on the ownership groups (below), it's seems that.

Simply Wall St -

How Should Investors Feel About Société Marseillaise du Tunnel Prado Carénage's (EPA:SMTPC) CEO Pay?

The CEO of Société Marseillaise du Tunnel Prado Carénage (EPA:SMTPC) is Cecile Cambier. … Check out our latest analysis for Société Marseillaise du Tunnel Prado Carénage? … According to our data, Société Marseillaise du Tunnel Prado Carénage has a market capitalization of €120m, and pays its CEO total annual compensation worth €220k.

Simply Wall St -

SMTPC Company Info

Description

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.

Details
Name: Société Marseillaise du Tunnel Prado Carénage
SMTPC
Exchange: ENXTPA
Founded: 1989
€106,242,500
5,837,500
Website: http://www.tunnelprado.com
Address: Société Marseillaise du Tunnel Prado Carénage
3, Avenue Arthur Scott,
Marseille,
Provence-Alpes-Côte d'Azur, 13010,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA SMTPC Ordinary Shares Euronext Paris FR EUR 12. Jul 2004
LSE 0G2C Ordinary Shares London Stock Exchange GB EUR 12. Jul 2004
Number of employees
Current staff
Staff numbers
59
Société Marseillaise du Tunnel Prado Carénage employees.
Industry
Highways and Railtracks
Transportation
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/19 21:00
End of day share price update: 2019/07/19 00:00
Last estimates confirmation: 2019/07/19
Last earnings filing: 2019/05/03
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.