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COFACE

LSE:0QVK
Snowflake Description

Fair value with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
0QVK
LSE
€1B
Market Cap
  1. Home
  2. GB
  3. Insurance
Company description

COFACE SA, through its subsidiaries, provides credit insurance products and related services for small and medium enterprises, mid-market companies, multi-nationals, financial institutions, and clients of distributer partners. The last earnings update was 12 days ago. More info.


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0QVK Share Price and Events
7 Day Returns
1.6%
LSE:0QVK
0.9%
GB Insurance
1.5%
GB Market
1 Year Returns
-10.6%
LSE:0QVK
-5.6%
GB Insurance
2.1%
GB Market
0QVK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
COFACE (0QVK) 1.6% 14.5% 11.1% -10.6% 25.4% -
GB Insurance 0.9% 7.8% 11% -5.6% 16.2% 22.1%
GB Market 1.5% 5.2% 9.7% 2.1% 17.8% 6.8%
1 Year Return vs Industry and Market
  • 0QVK underperformed the Insurance industry which returned -5.6% over the past year.
  • 0QVK underperformed the Market in United Kingdom of Great Britain and Northern Ireland which returned 2.1% over the past year.
Price Volatility
0QVK
Industry
5yr Volatility vs Market

0QVK Value

 Is COFACE 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 COFACE 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 COFACE.

LSE:0QVK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 4 analysts.
= Stable Book Value * Return on Equity
= €12.82 * 7.2%
€0.93
Book Value of Equity per Share Weighted future Book Value estimates from 3 analysts. €12.82
Discount Rate (Cost of Equity) See below 11.3%
Perpetual Growth Rate 10-Year GB Government Bond Rate 1.2%

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 LSE:0QVK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year GB Govt Bond Rate 1.2%
Equity Risk Premium S&P Global 6.7%
Insurance Unlevered Beta Simply Wall St/ S&P Global 0.72
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.724 (1 + (1- 33%) (217.16%))
1.522
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.52
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.23% + (1.522 * 6.65%)
11.35%

Discounted Cash Flow Calculation for LSE:0QVK using Excess Returns Model Model

The calculations below outline how an intrinsic value for COFACE is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

LSE:0QVK Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (7.2% – 11.35%) * €12.82)
€-0.53
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-0.53 / (11.35% - 1.23%)
€-5.22
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €12.82 + €-5.22
€7.6
LSE:0QVK Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in LSE:0QVK represents 1.00056x of ENXTPA:COFA
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00056x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 7.60 x 1.00056
€7.61
Value per share (EUR) From above. €7.61
Current discount Discount to share price of €8.95
= -1 x (€8.95 - €7.61) / €7.61
-17.6%

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

  • The current share price of COFACE is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 COFACE's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are COFACE's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
LSE:0QVK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.79
ENXTPA:COFA Share Price ** ENXTPA (2019-04-24) in EUR €8.94
United Kingdom of Great Britain and Northern Ireland Insurance Industry PE Ratio Median Figure of 19 Publicly-Listed Insurance Companies 16.26x
United Kingdom of Great Britain and Northern Ireland Market PE Ratio Median Figure of 797 Publicly-Listed Companies 16.16x

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

** Primary Listing of COFACE.

LSE:0QVK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 8.94 ÷ 0.79

11.26x

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

  • COFACE is good value based on earnings compared to the GB Insurance industry average.
  • COFACE is good value based on earnings compared to the United Kingdom of Great Britain and Northern Ireland market.
Price based on expected Growth
Does COFACE's expected growth come at a high price?
Raw Data
LSE:0QVK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 11.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
2.7%per year
United Kingdom of Great Britain and Northern Ireland Insurance Industry PEG Ratio Median Figure of 16 Publicly-Listed Insurance Companies 1.54x
United Kingdom of Great Britain and Northern Ireland Market PEG Ratio Median Figure of 564 Publicly-Listed Companies 1.49x

*Line of best fit is calculated by linear regression .

LSE:0QVK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 11.26x ÷ 2.7%

4.24x

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

  • COFACE is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on COFACE's assets?
Raw Data
LSE:0QVK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €11.94
ENXTPA:COFA Share Price * ENXTPA (2019-04-24) in EUR €8.94
United Kingdom of Great Britain and Northern Ireland Insurance Industry PB Ratio Median Figure of 24 Publicly-Listed Insurance Companies 2.11x
United Kingdom of Great Britain and Northern Ireland Market PB Ratio Median Figure of 1,367 Publicly-Listed Companies 1.52x
LSE:0QVK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 8.94 ÷ 11.94

0.75x

* Primary Listing of COFACE.

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

  • COFACE is good value based on assets compared to the GB Insurance industry average.
X
Value checks
We assess COFACE'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 Insurance 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 Insurance industry average (and greater than 0)? (1 check)
  5. COFACE 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.

0QVK Future Performance

 How is COFACE expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

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
2.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is COFACE expected to grow at an attractive rate?
  • COFACE's earnings growth is expected to exceed the low risk savings rate of 1.2%.
Growth vs Market Checks
  • COFACE's earnings growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
  • COFACE's revenue growth is positive but not above the United Kingdom of Great Britain and Northern Ireland market average.
Annual Growth Rates Comparison
Raw Data
LSE:0QVK Future Growth Rates Data Sources
Data Point Source Value (per year)
LSE:0QVK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 2.7%
LSE:0QVK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 2.3%
United Kingdom of Great Britain and Northern Ireland Insurance Industry Earnings Growth Rate Market Cap Weighted Average 11.8%
United Kingdom of Great Britain and Northern Ireland Insurance Industry Revenue Growth Rate Market Cap Weighted Average 18.3%
United Kingdom of Great Britain and Northern Ireland Market Earnings Growth Rate Market Cap Weighted Average 10.9%
United Kingdom of Great Britain and Northern Ireland Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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
LSE:0QVK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
LSE:0QVK Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 136
2021-12-31 1,531 134 2
2020-12-31 1,479 126 2
2019-12-31 1,430 128 2
LSE:0QVK Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 1,426 125 122
2018-09-30 1,410 277 126
2018-06-30 1,387 163 126
2018-03-31 1,394 175 111
2018-01-01 1,402 211 83
2017-09-30 1,402 225 82
2017-06-30 1,435 243 36
2017-03-31 1,437 233 27
2016-12-31 1,450 133 42
2016-09-30 1,515 101 42
2016-06-30 1,486 134 86
2016-03-31 1,515 183 108

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • COFACE's earnings are expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
  • COFACE's revenue is expected to grow by 2.3% 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
LSE:0QVK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from COFACE Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0QVK Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.97 0.97 0.97 1.00
2021-12-31 0.93 1.03 0.87 4.00
2020-12-31 0.87 0.97 0.81 5.00
2019-12-31 0.90 0.90 0.90 1.00
LSE:0QVK Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.79
2018-09-30
2018-06-30 0.81
2018-03-31
2018-01-01 0.53
2017-09-30
2017-06-30 0.23
2017-03-31
2016-12-31 0.26
2016-09-30 0.27
2016-06-30 0.55
2016-03-31 0.69

*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.
  • COFACE is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess COFACE'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 United Kingdom of Great Britain and Northern Ireland market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United Kingdom of Great Britain and Northern Ireland 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.
COFACE has a total score of 1/6, 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.

0QVK Past Performance

  How has COFACE 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 COFACE's growth in the last year to its industry (Insurance).
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.
  • COFACE's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • COFACE's 1-year earnings growth exceeds its 5-year average (47% vs -8.3%)
  • COFACE's earnings growth has exceeded the GB Insurance industry average in the past year (47% vs 5.3%).
Earnings and Revenue History
COFACE'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 COFACE Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

LSE:0QVK 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 1,425.86 122.33 241.14
2018-09-30 1,410.12 126.47 261.24
2018-06-30 1,386.74 125.83 248.23
2018-03-31 1,394.15 111.44 249.62
2018-01-01 1,402.18 83.21 253.53
2017-09-30 1,402.19 82.13 257.48
2017-06-30 1,434.60 36.12 266.92
2017-03-31 1,436.90 26.54 274.03
2016-12-31 1,449.95 41.53 275.10
2016-09-30 1,514.97 42.35 275.24
2016-06-30 1,486.20 85.72 274.84
2016-03-31 1,515.27 108.23 272.32
2015-12-31 1,540.21 126.24 269.96
2015-09-30 1,512.70 120.47 277.51
2015-06-30 1,527.42 122.10 274.85
2015-03-31 1,504.18 129.13 270.72
2014-12-31 1,482.53 125.03 269.12
2014-09-30 1,476.80 132.28 259.93
2014-06-30 1,477.36 128.61 258.70
2014-03-31 1,506.17 133.96 253.52
2013-12-31 1,508.23 127.44 255.55
2012-12-31 1,524.01 129.23 218.10

*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.
  • COFACE has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • COFACE used its assets more efficiently than the GB Insurance industry average last year based on Return on Assets.
  • COFACE's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess COFACE'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 Insurance 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.
COFACE has a total score of 3/6, 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.

0QVK Health

 How is COFACE'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 COFACE's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • COFACE's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • COFACE's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of COFACE'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 1.4x 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 COFACE Company Filings, last reported 3 months ago.

LSE:0QVK Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,806.40 2,933.45 311.95
2018-09-30 1,804.72 2,928.93 463.80
2018-06-30 1,791.16 3,006.49 328.54
2018-03-31 1,817.86 2,787.06 300.64
2018-01-01 1,802.58 2,915.95 294.44
2017-09-30 1,784.62 2,975.42 314.52
2017-06-30 1,749.49 2,891.32 302.05
2017-03-31 1,770.56 2,972.30 286.69
2016-12-31 1,760.67 2,799.74 401.77
2016-09-30 1,740.56 2,686.54 392.55
2016-06-30 1,740.43 2,760.40 431.78
2016-03-31 1,797.76 2,690.66 446.36
2015-12-31 1,767.03 2,762.26 452.31
2015-09-30 1,721.84 2,710.56 501.91
2015-06-30 1,726.78 2,725.35 492.12
2015-03-31 1,819.45 2,719.48 390.91
2014-12-31 1,724.53 2,612.91 309.49
2014-09-30 1,709.55 2,572.74 380.35
2014-06-30 1,667.02 2,482.51 375.59
2014-03-31 1,841.44 2,427.21 716.25
2013-12-31 1,793.33 2,124.43 326.19
2012-12-31 1,776.24 2,094.40 360.96
  • COFACE's level of debt (162.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (118.6% vs 162.4% today).
  • Debt is not well covered by operating cash flow (4.3%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 11.2x coverage).
X
Financial health checks
We assess COFACE'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. COFACE has a total score of 2/6, 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.

0QVK Dividends

 What is COFACE'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
8.84%
Current annual income from COFACE dividends. Estimated to be 6.86% next year.
If you bought €2,000 of COFACE shares you are expected to receive €177 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?
  • COFACE's pays a higher dividend yield than the bottom 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (2.01%).
  • COFACE's dividend is above the markets top 25% of dividend payers in United Kingdom of Great Britain and Northern Ireland (5.14%).
Upcoming dividend payment

Purchase COFACE before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
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
LSE:0QVK 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 5 Analyst Estimates (S&P Global) See Below
United Kingdom of Great Britain and Northern Ireland Insurance Industry Average Dividend Yield Market Cap Weighted Average of 21 Stocks 4.5%
United Kingdom of Great Britain and Northern Ireland Market Average Dividend Yield Market Cap Weighted Average of 705 Stocks 4.1%
United Kingdom of Great Britain and Northern Ireland Minimum Threshold Dividend Yield 10th Percentile 1%
United Kingdom of Great Britain and Northern Ireland Bottom 25% Dividend Yield 25th Percentile 2%
United Kingdom of Great Britain and Northern Ireland Top 25% Dividend Yield 75th Percentile 5.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

LSE:0QVK Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.61 1.00
2021-12-31 0.64 4.00
2020-12-31 0.58 5.00
2019-12-31 0.68 1.00
LSE:0QVK Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-03-28 0.790 9.441
2018-04-16 0.340 4.059
2018-02-12 0.340 3.562
2017-05-17 0.130 1.515
2016-02-09 0.480 7.793

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

  • COFACE has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but COFACE only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of COFACE's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.5x coverage).
X
Income/ dividend checks
We assess COFACE'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 COFACE afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. COFACE has a total score of 3/6, see the detailed checks below.


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

0QVK Management

 What is the CEO of COFACE'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
Xavier Durand
COMPENSATION €1,833,686
AGE 54
TENURE AS CEO 3.2 years
CEO Bio

Mr. Xavier Pascal Durand has been Chief Executive Officer of Coface SA since February 9, 2016 and serves as its General Manager. Mr. Durand has been Chief Executive Officer of the Insurance Group Coface since February 2016. Mr. Durand served as the Head of Strategy & Growth and Vice President of GE at General Electric Capital Corporation. He served as the Head of Strategy & Development at GE Capital International from 2013 to 2015. Mr. Durand served as the Chief Executive Officer of GE Capital Asia Pacific since 2011 until 2013 and also served as its President of Asia Pacific. He served as Chief Executive Officer of the Europe and Russia banking activities of GE Capital from 2005 to 2011; President and Chief Executive Officer of GE Money France from 2000 to 2005 and Head of Strategy and New Partnerships of GEC Auto Financial Services based in Chicago from 1996 to 2000. Mr. Durand served as the President and Chief Executive Officer for GE Capital Global Banking in Western Europe, Latvia & Russia since January 2010. He served as the President and Chief Executive Officer of GE Capital Global Banking Western Europe from January 2008 to December 2009 and GE Money South West Europe from May 2005 to January 2008. He held the position of Chief Executive Officer for GE Money France and DOMS and held various commercial leadership roles in both GE Money Europe and the Americas. He held a variety of positions in strategy consulting, insurance and financial services industries with different companies. He joined GE Consumer Finance in 1996. He joined GE Capital, where he led an international career, first in Chicago as Director of Strategy and Growth of the finance division of the Global Auto business. He started his career in 1987 in consultancy Xavier Durand a The Mac Group (Gemini Consulting) and Strategy Project Management (GMF Insurer 1991-1993) before joining Banque Sovac Immobilier in 1994 as deputy Chief Executive Officer. Mr. Durand served as Deputy General Manager of the Sovac Real Estate Bank in France from 1994 to 1996. He served as Chairman at GE Capital Asia Pacific. He served as Chairman of the Supervisory Council at GE Money Bank CJSC since April 2010. He served as Chairman and Member of the Council at GE Capital Latvia, AS (formerly, AS GE Money Bank) from December 28, 2010 to April 1, 2011. He served as Chairman of the Supervisory Board of GE Artesia Bank in the Netherlands. He serves as a Member of Supervisory Board at Banque Artesia Nederland N.V. He serves as an Independent Board Member at Wizink Bank (Banco Popular Et Varde) and AXA France. He has been Independent Director at ALD S.A. since June 16, 2017. He served as a Board Member at Krungsri Group and Hyundai Capital Cards. He served as a Non-Executive Director of Bank of Ayudhya Public Company Limited from February 2, 2012 to June 24, 2013. He served as a Director of Turkiye Garanti Bankasi AS since April 2, 2009. Mr. Durand holds ME degree from both the Ecole Polytechnique in 1986 and of Ecole Nationale des Ponts et Chaussées in Paris, France in 1988.

CEO Compensation
  • Xavier's compensation has increased by more than 20% in the past year.
  • Xavier's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Management Team Tenure

Average tenure and age of the COFACE management team in years:

2.5
Average Tenure
54
Average Age
  • The tenure for the COFACE management team is about average.
Management Team

Xavier Durand

TITLE
CEO & GM
COMPENSATION
€2M
AGE
54
TENURE
3.2 yrs

Carine Pichon

TITLE
Chief Financial & Risk Officer
AGE
45
TENURE
6.3 yrs

Keyvan Shamsa

TITLE
Business Technology Director
AGE
56
TENURE
0.4 yrs

Thomas Jacquet

TITLE
Head of Group Financial Communication and Group IR & Rating Agencies Director
TENURE
2.6 yrs

Franck Marzilli

TITLE
Group Compliance Director
TENURE
2.3 yrs

Monica Coull

TITLE
Communications Director

Pierre Bevierre

TITLE
Chief Human Resources Officer

Antonio Marchitelli

TITLE
Chief Executive Officer of Western Europe Region
TENURE
2 yrs

Katarzyna Kompowska

TITLE
Chief Executive Officer of Northern Europe Region
TENURE
1.5 yrs

Nicolas Andriopoulos

TITLE
Managing Director of Coface Re
TENURE
2.6 yrs
Board of Directors Tenure

Average tenure and age of the COFACE board of directors in years:

4.8
Average Tenure
54
Average Age
  • The tenure for the COFACE board of directors is about average.
Board of Directors

François Riahi

TITLE
Chairman of the Board
AGE
45
TENURE
0.8 yrs

Michael Ferrante

TITLE
Chairman & CEO of Coface Holding North America & Director of Coface Holding North America

Eric Hémar

TITLE
Independent Director
COMPENSATION
€43K
AGE
54
TENURE
4.8 yrs

Olivier Zarrouati

TITLE
Independent Director
COMPENSATION
€34K
AGE
59
TENURE
4.8 yrs

Daniel Karyotis

TITLE
Non-Independent Director
COMPENSATION
€17K
AGE
57
TENURE
2.2 yrs

Jean Arondel

TITLE
Director
COMPENSATION
€20K
AGE
68
TENURE
6.4 yrs

Jean-Paul Dumortier

TITLE
Non-Independent Director
COMPENSATION
€20K
AGE
70
TENURE
5.8 yrs

Sharon MacBeath

TITLE
Independent Director
COMPENSATION
€24K
AGE
49
TENURE
4.8 yrs

Isabelle Rodney

TITLE
Non-Independent Director
COMPENSATION
€16K
AGE
52
TENURE
2.4 yrs

Anne Sallé-Mongauze

TITLE
Non-Independent Director
AGE
52
TENURE
2.4 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 (€)
X
Management checks
We assess COFACE'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. COFACE 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.

0QVK News

Simply Wall St News

0QVK Company Info

Description

COFACE SA, through its subsidiaries, provides credit insurance products and related services for small and medium enterprises, mid-market companies, multi-nationals, financial institutions, and clients of distributer partners. It offers credit insurance products to protect companies against potential non-payment by their customers. The company also provides factoring, business information, and debt collection services, as well as contract, and customs and excise bonds. It operates in Western Europe, Northern Europe, Central Europe, the Mediterranean and Africa, North America, Latin America, and the Asia-Pacific. COFACE SA has a strategic partnership with Tradeshift. The company was founded in 1946 and is headquartered in Bois-Colombes, France.

Details
Name: COFACE SA
0QVK
Exchange: LSE
Founded: 1946
€1,350,808,369
151,097,133
Website: http://www.coface.com
Address: COFACE SA
1, place Costes et Bellonte,
Bois-Colombes,
Ile-de-France, 92270,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA COFA Ordinary Shares Euronext Paris FR EUR 27. Jun 2014
DB 65C Ordinary Shares Deutsche Boerse AG DE EUR 27. Jun 2014
LSE 0QVK Ordinary Shares London Stock Exchange GB EUR 27. Jun 2014
BATS-CHIXE COFAP Ordinary Shares BATS 'Chi-X Europe' GB EUR 27. Jun 2014
Number of employees
Current staff
Staff numbers
3,156
COFACE employees.
Industry
Property and Casualty Insurance
Insurance
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 22:43
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/24
Last earnings filing: 2019/04/12
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.