Cofina SGPS (ENXTLS:CFN) - Share price, News & Analysis

CFN fundamental analysis
Snowflake Score
Valuation	5/6
Future Growth	2/6
Past Performance	4/6
Financial Health	4/6
Dividends	0/6

CFN Stock Overview

Cofina, SGPS, S.A. engages in the publication of newspapers and magazines in Portugal.

Rewards

Trading at 84.5% below our estimate of its fair value

Earnings are forecast to grow 8.18% per year

Earnings grew by 165.9% over the past year

Risk Analysis

Has a high level of debt

Does not have a meaningful market cap (€24M)

Cofina SGPS Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Cofina SGPS
Historical stock prices
Current Share Price	€0.23
52 Week High	€0.26
52 Week Low	€0.21
Beta	0.99
1 Month Change	0.43%
3 Month Change	-3.31%
1 Year Change	-7.51%
3 Year Change	-50.63%
5 Year Change	-41.06%
Change since IPO	-79.92%

Recent News & Updates

Mar 08

Is It Too Late To Consider Buying Cofina, SGPS, S.A. (ELI:CFN)?

Cofina, SGPS, S.A. ( ELI:CFN ), might not be a large cap stock, but it saw a double-digit share price rise of over 10...

Shareholder Returns

	CFN	PT Media	PT Market
7D	3.5%	0.8%	2.8%
1Y	-7.5%	-31.3%	15.4%

Return vs Industry: CFN exceeded the Portuguese Media industry which returned -32.2% over the past year.

Return vs Market: CFN underperformed the Portuguese Market which returned 13.4% over the past year.

Price Volatility

Is CFN's price volatile compared to industry and market?
CFN volatility
CFN Average Weekly Movement	2.9%
Media Industry Average Movement	4.9%
Market Average Movement	4.3%
10% most volatile stocks in PT Market	6.0%
10% least volatile stocks in PT Market	3.0%

Stable Share Price: CFN is less volatile than 75% of Portuguese stocks over the past 3 months, typically moving +/- 3% a week.

Volatility Over Time: CFN's weekly volatility (3%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1990	679	Paulo dos Santos Fernandes	https://www.cofina.pt

Cofina, SGPS, S.A. engages in the publication of newspapers and magazines in Portugal. The company offers newspapers, including Correio da Manha, a daily newspaper; Record, a daily sports newspaper; Jornal de Negocios, an economic newspaper; and Destak, a free newspaper, as well as online newspapers. It also provides magazines, such as Sábado and TV Guia, as well as digital products, including Flash and Máxima.

Cofina SGPS Fundamentals Summary

How do Cofina SGPS's earnings and revenue compare to its market cap?
CFN fundamental statistics
Market Cap	€24.00m
Earnings (TTM)	€4.22m
Revenue (TTM)	€75.85m

5.7x

P/E Ratio

0.3x

P/S Ratio

Is CFN overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
CFN income statement (TTM)
Revenue	€75.85m
Cost of Revenue	€23.50m
Gross Profit	€52.35m
Other Expenses	€48.12m
Earnings	€4.22m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

n/a

Earnings per share (EPS)	0.041
Gross Margin	69.02%
Net Profit Margin	5.57%
Debt/Equity Ratio	104.4%

How did CFN perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

Is CFN undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

Price-To-Earnings vs Peers
Price-To-Earnings vs Industry
Price-To-Earnings vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

Which metric is best to use when looking at relative valuation for CFN?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for CFN. This is calculated by dividing CFN's market cap by their current preferred multiple.
What is CFN's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	€24.00m

CFN key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.9x
Enterprise Value/EBITDA	5.5x
PEG Ratio	0.7x

Price to Earnings Ratio vs Peers

How does CFN's PE Ratio compare to its peers?

CFN PE Ratio vs Peers

The above table shows the PE ratio for CFN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PE	Estimated Growth	Market Cap
Peer Average	11.7x

Forward PE

Price-To-Earnings vs Peers: CFN is good value based on its Price-To-Earnings Ratio (5.7x) compared to the peer average (11.7x).

Price to Earnings Ratio vs Industry

How does CFN's PE Ratio compare vs other companies in the Media Industry?

Price-To-Earnings vs Industry: CFN is good value based on its Price-To-Earnings Ratio (5.7x) compared to the European Media industry average (14x)

Price to Earnings Ratio vs Fair Ratio

What is CFN's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

CFN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	5.7x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate CFN's Price-To-Earnings Fair Ratio for valuation analysis.

Share Price vs Fair Value

What is the Fair Price of CFN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: CFN (€0.23) is trading below our estimate of fair value (€1.51)

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

Price to Earnings Growth Ratio

PEG Ratio: CFN is good value based on its PEG Ratio (0.7x)

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Future Growth

How is Cofina SGPS forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

Future Growth Score

2/6

Future Growth Score 2/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

8.2%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: CFN's forecast earnings growth (8.2% per year) is above the savings rate (1.2%).

Earnings vs Market: CFN's earnings (8.2% per year) are forecast to grow faster than the Portuguese market (8.2% per year).

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

Revenue vs Market: CFN's revenue is expected to decline over the next 3 years (-0.6% per year).

High Growth Revenue: CFN's revenue is forecast to decline over the next 3 years (-0.6% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: CFN's Return on Equity is forecast to be low in 3 years time (8.9%).

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Past Performance

How has Cofina SGPS performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-2.5%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: CFN has high quality earnings.

Growing Profit Margin: CFN's current net profit margins (5.6%) are higher than last year (2.2%).

Past Earnings Growth Analysis

Earnings Trend: CFN's earnings have declined by 2.5% per year over the past 5 years.

Accelerating Growth: CFN's earnings growth over the past year (165.9%) exceeds its 5-year average (-2.5% per year).

Earnings vs Industry: CFN earnings growth over the past year (165.9%) exceeded the Media industry 68%.

Return on Equity

High ROE: CFN's Return on Equity (8.5%) is considered low.

Discover strong past performing companies

Financial Health

How is Cofina SGPS's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: CFN's short term assets (€31.3M) do not cover its short term liabilities (€67.6M).

Long Term Liabilities: CFN's short term assets (€31.3M) exceed its long term liabilities (€19.6M).

Debt to Equity History and Analysis

Debt Level: CFN's net debt to equity ratio (68.1%) is considered high.

Reducing Debt: CFN's debt to equity ratio has reduced from 257.9% to 104.4% over the past 5 years.

Debt Coverage: CFN's debt is well covered by operating cash flow (26.1%).

Interest Coverage: CFN's interest payments on its debt are well covered by EBIT (9.3x coverage).

Balance Sheet

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Dividend

What is Cofina SGPS current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate CFN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate CFN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if CFN's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if CFN's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: CFN is not paying a notable dividend for the Portuguese market.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as CFN has not reported any payouts.

Discover strong dividend paying companies

Management

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

10.6yrs

Average board tenure

CEO

Paulo dos Santos Fernandes

no data

Tenure

€80,000

Compensation

Mr. Paulo Jorge dos Santos Fernandes is a Co-founder at Cofina Sgps, S.a. and serves as its Executive Chairman, Chief Executive Officer and President. Mr. dos Santos Fernandes served as Non-Independent Non...

CEO Compensation Analysis

Compensation vs Market: Paulo's total compensation ($USD84.39K) is below average for companies of similar size in the Portuguese market ($USD285.18K).

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

Board Members

Experienced Board: CFN's board of directors are seasoned and experienced ( 10.6 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 not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/06/24 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31