LSE:0NRN

Stock Analysis Report

Grupo Catalana Occidente

Executive Summary

Grupo Catalana Occidente, S.A., together with its subsidiaries, provides insurance products and services worldwide.


Snowflake Analysis

Very undervalued with solid track record.


Similar Companies

Share Price & News

How has Grupo Catalana Occidente's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 0NRN's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-6.6%

0NRN

-12.6%

GB Insurance

-2.2%

GB Market


1 Year Return

-46.3%

0NRN

-38.7%

GB Insurance

-25.9%

GB Market

Return vs Industry: 0NRN underperformed the UK Insurance industry which returned -38.7% over the past year.

Return vs Market: 0NRN underperformed the UK Market which returned -25.9% over the past year.


Shareholder returns

0NRNIndustryMarket
7 Day-6.6%-12.6%-2.2%
30 Day-37.0%-28.0%-21.7%
90 Day-43.8%-35.9%-29.6%
1 Year-45.1%-46.3%-31.8%-38.7%-22.2%-25.9%
3 Year-43.7%-46.7%-26.9%-39.7%-16.1%-26.6%
5 Year-31.6%-37.9%-21.2%-41.1%-4.6%-26.2%

Price Volatility Vs. Market

How volatile is Grupo Catalana Occidente's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Grupo Catalana Occidente 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: 0NRN (€17.76) is trading below our estimate of fair value (€62.65)

Significantly Below Fair Value: 0NRN is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: 0NRN is good value based on its PE Ratio (5.4x) compared to the Insurance industry average (11.9x).

PE vs Market: 0NRN is good value based on its PE Ratio (5.4x) compared to the UK market (12.3x).


Price to Earnings Growth Ratio

PEG Ratio: 0NRN is good value based on its PEG Ratio (0.9x)


Price to Book Ratio

PB vs Industry: 0NRN is good value based on its PB Ratio (0.6x) compared to the GB Insurance industry average (1.2x).


Next Steps

Future Growth

How is Grupo Catalana Occidente forecast to perform in the next 1 to 3 years based on estimates from 3 analysts?

6.0%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 0NRN's forecast earnings growth (6% per year) is above the savings rate (0.5%).

Earnings vs Market: 0NRN's earnings (6% per year) are forecast to grow slower than the UK market (15.4% per year).

High Growth Earnings: 0NRN's earnings are forecast to grow, but not significantly.

Revenue vs Market: 0NRN's revenue (3.9% per year) is forecast to grow faster than the UK market (2.6% per year).

High Growth Revenue: 0NRN's revenue (3.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 0NRN's Return on Equity is forecast to be low in 3 years time (10.8%).


Next Steps

Past Performance

How has Grupo Catalana Occidente performed over the past 5 years?

8.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 0NRN has high quality earnings.

Growing Profit Margin: 0NRN's current net profit margins (9.2%) are higher than last year (9%).


Past Earnings Growth Analysis

Earnings Trend: 0NRN's earnings have grown by 8.9% per year over the past 5 years.

Accelerating Growth: 0NRN's earnings growth over the past year (9.6%) exceeds its 5-year average (8.9% per year).

Earnings vs Industry: 0NRN earnings growth over the past year (9.6%) exceeded the Insurance industry 4.5%.


Return on Equity

High ROE: 0NRN's Return on Equity (11%) is considered low.


Next Steps

Financial Health

How is Grupo Catalana Occidente's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: 0NRN has a low level of unsold assets or inventory.

Debt Coverage by Assets: 0NRN's debt is covered by short term assets (assets are 16.6x debt).


Financial Institutions Analysis

Asset Level: 0NRN's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if 0NRN has a sufficient allowance for bad loans.

Low Risk Liabilities: 0NRN reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if 0NRN has an acceptable proportion of non-loan assets held.

Low Risk Deposits: 0NRN has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if 0NRN has an appropriate level of bad loans.


Next Steps

Dividend

What is Grupo Catalana Occidente's current dividend yield, its reliability and sustainability?

5.01%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: 0NRN's dividend (5.01%) is higher than the bottom 25% of dividend payers in the UK market (2.66%).

High Dividend: 0NRN's dividend (5.01%) is low compared to the top 25% of dividend payers in the UK market (7.42%).


Stability and Growth of Payments

Stable Dividend: 0NRN's dividend payments have been volatile in the past 10 years.

Growing Dividend: 0NRN's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (26.9%), 0NRN's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

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

3.5yrs

Average management tenure


CEO

José Ignacio Álvarez Juste (59yo)

8s

Tenure

€519,000

Compensation

Mr. José Ignacio Álvarez Juste serves as Chief Executive Officer and Director of Grupo Catalana Occidente, SA since April 26, 2016. His experience includes Experience CEO of Bilbao Compañía Anónima de Segu ...


CEO Compensation Analysis

Compensation vs Market: José Ignacio's total compensation ($USD0.00) is below average for companies of similar size in the UK market ($USD1.85M).

Compensation vs Earnings: José Ignacio's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Jose Maria Serra Farré
Executive Chairmanno data€44.00k0.42% 8.7m
José Ignacio Álvarez Juste
CEO & Director8yrs€519.00kno data
Hugo Serra Calderón
Executive Directorno data€89.00k0.010% 211.2k
Francisco José Arregui Laborda
Director General & Secretary22.25yrs€541.00k0.061% 1.3m
Carlos González Bailac
Financial Directorno datano datano data
Patricia Rodríguez García
Investor Relationsno datano datano data
Juan Cañellas
Head of Traditional Business0.25yrno datano data
David Ponce
Head of Credit Insurance0.25yrno datano data
Joaquín Guallar Pérez
Vice-Secretary no datano datano data

3.5yrs

Average Tenure

59yo

Average Age

Experienced Management: 0NRN's management team is considered experienced (3.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Jose Maria Serra Farré
Executive Chairmanno data€44.00k0.42% 8.7m
José Ignacio Álvarez Juste
CEO & Director8yrs€519.00kno data
Hugo Serra Calderón
Executive Directorno data€89.00k0.010% 211.2k
Francisco José Arregui Laborda
Director General & Secretary22.25yrs€541.00k0.061% 1.3m
Jorge Enrich Izard
Director27yrs€23.00kno data
Enrique Giró Godó
Director12.42yrsno data0.20% 4.2m
Federico Halpern Blasco
Director26.42yrs€23.00k0.020% 422.5k
Francisco Javier Pérez Farguell
Independent Director24yrsno datano data
Javier Juncadella Salisachs
Vice Chairman8.25yrs€191.00kno data
Juan Ignacio Guerrero Gilabert
Independent Director9yrsno datano data

17.3yrs

Average Tenure

63yo

Average Age

Experienced Board: 0NRN's board of directors are seasoned and experienced ( 17.3 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.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Grupo Catalana Occidente, S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Grupo Catalana Occidente, S.A.
  • Ticker: 0NRN
  • Exchange: LSE
  • Founded: 1864
  • Industry: Multi-line Insurance
  • Sector: Insurance
  • Market Cap: €2.075b
  • Shares outstanding: 117.90m
  • Website: https://www.grupocatalanaoccidente.com

Number of Employees


Location

  • Grupo Catalana Occidente, S.A.
  • Paseo de la Castellana 4
  • Madrid
  • Madrid
  • 28046
  • Spain

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
GCOBME (Bolsas y Mercados Espanoles)YesOrdinary SharesESEURNov 1993
OCZADB (Deutsche Boerse AG)YesOrdinary SharesDEEURNov 1993
0NRNLSE (London Stock Exchange)YesOrdinary SharesGBEURNov 1993
GCNJ.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 1993
GCOEBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURNov 1993
GCO NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNNov 1993

Biography

Grupo Catalana Occidente, S.A., together with its subsidiaries, provides insurance products and services worldwide. The company offers multirisk products and services related to home and family, stores, communities, offices, and SMEs; life insurance products, such as life risk, life savings, pension plans, and investment funds, as well as funeral, death, and health insurance; and automobile insurance coverage products for cars or transport fleets. It also provides other insurance products, such as industrial products, engineering, accidents, and liability; and credit insurance and reinsurance. In addition, the company offers domestic and international debt collection services; and installment credit protection and special products. Grupo Catalana Occidente, S.A. markets its products primarily under the Seguros Catalana Occidente, Plus Ultra Seguros, Seguros Bilbao, NorteHispana Seguros, Crédito y Caución, Atradius, and Atradius Re brands. The company was founded in 1864 and is headquartered in Madrid, Spain. Grupo Catalana Occidente, S.A. is a subsidiary of INOC, S.A. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/03 22:57
End of Day Share Price2020/04/03 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.