ENXTPA:EDF

Stock Analysis Report

Electricité de France

Executive Summary

Electricité de France S.A., an integrated energy company, engages in the generation, transmission, distribution, supply, and trading of power and energy services in France, the United Kingdom, Italy, and internationally.


Snowflake Analysis

Undervalued with solid track record.


Similar Companies

Share Price & News

How has Electricité de France's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: EDF's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

16.7%

EDF

4.2%

FR Electric Utilities

0.4%

FR Market


1 Year Return

1.1%

EDF

33.0%

FR Electric Utilities

16.7%

FR Market

Return vs Industry: EDF underperformed the French Electric Utilities industry which returned 31.3% over the past year.

Return vs Market: EDF underperformed the French Market which returned 17% over the past year.


Shareholder returns

EDFIndustryMarket
7 Day16.7%4.2%0.4%
30 Day21.6%9.8%-0.5%
90 Day46.4%20.5%3.6%
1 Year4.1%1.1%38.1%33.0%20.8%16.7%
3 Year81.0%48.8%86.3%62.3%43.2%29.7%
5 Year-20.2%-44.2%71.0%32.3%54.8%32.9%

Price Volatility Vs. Market

How volatile is Electricité de France's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Electricité de France undervalued compared to its fair value and its price relative to the market?

48.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: EDF (€13.54) is trading below our estimate of fair value (€26.36)

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


Price To Earnings Ratio

PE vs Industry: EDF is good value based on its PE Ratio (8.2x) compared to the Electric Utilities industry average (13.7x).

PE vs Market: EDF is good value based on its PE Ratio (8.2x) compared to the French market (18.7x).


Price to Earnings Growth Ratio

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


Price to Book Ratio

PB vs Industry: EDF is good value based on its PB Ratio (0.9x) compared to the XE Electric Utilities industry average (0.9x).


Next Steps

Future Growth

How is Electricité de France forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

-3.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: EDF's earnings are forecast to decline over the next 3 years (-3.3% per year).

Earnings vs Market: EDF's earnings are forecast to decline over the next 3 years (-3.3% per year).

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

Revenue vs Market: EDF's revenue (1.8% per year) is forecast to grow slower than the French market (4.5% per year).

High Growth Revenue: EDF'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: EDF's Return on Equity is forecast to be low in 3 years time (5.6%).


Next Steps

Past Performance

How has Electricité de France performed over the past 5 years?

5.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: EDF has high quality earnings.

Growing Profit Margin: EDF's current net profit margins (7%) are higher than last year (1.2%).


Past Earnings Growth Analysis

Earnings Trend: EDF's earnings have grown by 5.2% per year over the past 5 years.

Accelerating Growth: EDF's earnings growth over the past year (526%) exceeds its 5-year average (5.2% per year).

Earnings vs Industry: EDF earnings growth over the past year (526%) exceeded the Electric Utilities industry 8.6%.


Return on Equity

High ROE: EDF's Return on Equity (10.1%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Electricité de France's financial position?


Financial Position Analysis

Short Term Liabilities: EDF's short term assets (€73.8B) exceed its short term liabilities (€55.0B).

Long Term Liabilities: EDF's short term assets (€73.8B) do not cover its long term liabilities (€192.5B).


Debt to Equity History and Analysis

Debt Level: EDF's debt to equity ratio (112.7%) is considered high.

Reducing Debt: EDF's debt to equity ratio has reduced from 135.6% to 112.7% over the past 5 years.

Debt Coverage: EDF's debt is well covered by operating cash flow (22.3%).

Interest Coverage: EDF's interest payments on its debt are well covered by EBIT (20.9x coverage).


Balance Sheet

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

Debt Coverage by Assets: EDF's debt is covered by short term assets (assets are 1.2x debt).


Next Steps

Dividend

What is Electricité de France's current dividend yield, its reliability and sustainability?

3.55%

Current Dividend Yield


Upcoming Dividend Payment

TodayFeb 19 2020Ex Dividend DateMay 14 2020Dividend Pay DateJun 10 202027 days from Ex DividendBuy in the next 85 days to receive upcoming dividend

Dividend Yield vs Market

company3.5%marketbottom25%1.5%markettop25%4.4%industryaverage3.5%forecastin3Years3.2%

Current dividend yield vs market & industry

Notable Dividend: EDF's dividend (3.55%) is higher than the bottom 25% of dividend payers in the French market (1.52%).

High Dividend: EDF's dividend (3.55%) is low compared to the top 25% of dividend payers in the French market (4.49%).


Stability and Growth of Payments

Stable Dividend: EDF's dividend payments have been volatile in the past 10 years.

Growing Dividend: EDF's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (29%), EDF's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: EDF's dividends in 3 years are forecast to be well covered by earnings (44.1% payout ratio).


Next Steps

Management

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

4.9yrs

Average management tenure


CEO

Jean-Bernard Lévy (64yo)

5.3yrs

Tenure

€452,868

Compensation

Mr. Jean-Bernard Lévy has been the Chief Executive Officer of Electricité de France S.A. since November 27, 2014 and served as its President. Mr. Lévy served as the Chairman and Chief Executive Officer of  ...


CEO Compensation Analysis

Compensation vs Market: Jean-Bernard's total compensation ($USD490.65K) is below average for companies of similar size in the French market ($USD3.31M).

Compensation vs Earnings: Jean-Bernard's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Jean-Bernard Lévy
Chairman & CEO5.3yrs€452.87kno data
Xavier Girre
Group Senior Executive Vice President of Group Finance3.9yrsno datano data
Stephane Tortajada
Head of Financing and Investments0yrsno datano data
Aymeric Ducrocq
Senior Vice President of Investors & Markets0yrsno datano data
Christophe Carval
Group Senior Executive Vice President of Human Resources2.6yrsno datano data
Claude Nahon
Executive Vice President of Sustainable Development0yrsno datano data
Marianne Laigneau
Group Senior Executive Vice President of International Division12.7yrsno datano data
Simone Rossi
Group Senior Executive Vice-President4.9yrsno datano data
Xavier Ursat
Group Senior Executive Vice President of New Nuclear Projects & Engineering4.9yrsno datano data
Alexandre Perra
Group Senior Executive Vice-President of Innovation1.1yrsno datano data

4.9yrs

Average Tenure

51yo

Average Age

Experienced Management: EDF's management team is considered experienced (4.9 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Jean-Bernard Lévy
Chairman & CEO5.3yrs€452.87kno data
Laurence Parisot
Independent Director5.3yrs€39.83kno data
Claire Pedini
Independent Director3.8yrs€39.83kno data
Gilles Denoyel
Director0.8yrsno datano data
Philippe Petitcolin
Director0.8yrsno datano data
Colette Lewiner
Independent Director5.8yrs€49.42k0.000060% 24.5k
Martin Vial
Director4.4yrs€39.83kno data
Marie-Christine Lepetit
Director7.8yrs€45.58kno data
Maurice Gourdault-Montagne
Director2.3yrs€21.40kno data
Bruno Cremel
Director0.8yrsno datano data

4.1yrs

Average Tenure

65yo

Average Age

Experienced Board: EDF's board of directors are considered experienced (4.1 years average tenure).


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 been diluted in the past year, with total shares outstanding growing by 2.1%.


Top Shareholders

Company Information

Electricité de France S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Electricité de France S.A.
  • Ticker: EDF
  • Exchange: ENXTPA
  • Founded: 1946
  • Industry: Electric Utilities
  • Sector: Utilities
  • Market Cap: €40.903b
  • Shares outstanding: 3.10b
  • Website: https://www.edf.fr

Number of Employees


Location

  • Electricité de France S.A.
  • 22-30, Avenue de Wagram
  • Paris
  • Ile-de-France
  • 75008
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
EDFENXTPA (Euronext Paris)YesOrdinary SharesFREURNov 2005
E2FDB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 2005
0HBALSE (London Stock Exchange)YesOrdinary SharesGBEURNov 2005
E2FXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURNov 2005
ECIF.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 2005
EDFPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURNov 2005
EDF-UETLX (Eurotlx)YesOrdinary SharesITEURNov 2005
EDFSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFNov 2005
EDFWBAG (Wiener Boerse AG)YesOrdinary SharesATEURNov 2005
ECIF.YOTCPK (Pink Sheets LLC)UNSPONSORD ADRUSUSDDec 2008
A1HFHTDB (Deutsche Boerse AG)5.375%-FRN SUB EMTN PERP EUR100000 '15'DEEURJan 2013
A1HFHVDB (Deutsche Boerse AG)6%-FRN SUB EMTN PERP GBP100000 '16''REGSDEUSDJan 2013
EDFBBENXTPA (Euronext Paris)5.375%-FRN SUB EMTN PERP EUR100000 '15'FREURJan 2013
EDF1LSE (London Stock Exchange)6%-FRN SUB EMTN PERP GBP100000 '16''REGSGBGBPJan 2013

Biography

Electricité de France S.A., an integrated energy company, engages in the generation, transmission, distribution, supply, and trading of power and energy services in France, the United Kingdom, Italy, and internationally. It generates electricity through nuclear, fossil fuel, hydro, solar, wind, biomass, biogas, tidal, geothermal, and cogeneration plants. The company also manages low and medium-voltage public electricity distribution networks; operates, maintains, and develops high-voltage and very-high-voltage electricity transmission networks; and services and produces equipment and fuel for nuclear reactors. In addition, it is involved in commodity trading activities; and the provision of energy services, including district heating services, thermal energy services, etc. The company serves 37.6 million customers. It serves small businesses, local authorities, and industrial and residential customers. Electricité de France S.A. was founded in 1946 and is headquartered in Paris, France. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/02/18 21:07
End of Day Share Price2020/02/18 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.