CTT - Correios De Portugal
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CTT - Correios De Portugal, S.A., together with its subsidiaries, provides postal and financial services worldwide. The last earnings update was 3 days ago. More info.
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CTT Share Price and Events
7 Day Returns
1 Year Returns
CTT Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| CTT - Correios De Portugal (CTT) | -0.2% | -9.8% | -11.5% | -13.2% | -67.3% | -64.5% |
| Europe Logistics | 3.8% | 5.9% | 11.5% | -17.9% | 2.7% | -3.7% |
| PT Market | 1.7% | 2.8% | 12.4% | -0.4% | -38.6% | 10.3% |
1 Year Return vs Industry and Market
- CTT outperformed the Logistics industry which returned -17.9% over the past year.
- CTT underperformed the Market in Portugal which returned -0.4% over the past year.
CTT Value
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
CTT - Correios De Portugal
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for CTT - Correios De Portugal.
| Data Point | Source | Value |
|---|---|---|
| Valuation Model | 2 Stage Free Cash Flow to Equity | |
| Levered Free Cash Flow | Average of 4 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 11.4% |
| Perpetual Growth Rate | 10-Year PT Government Bond Rate | 1.8% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year PT Govt Bond Rate | 1.8% |
| Equity Risk Premium | S&P Global | 9% |
| Logistics Unlevered Beta | Simply Wall St/ S&P Global | 1.03 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.027 (1 + (1- 21%) (7.41%)) |
1.058 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.06 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.82% + (1.058 * 9.02%) |
11.37% |
Discounted Cash Flow Calculation for ENXTLS:CTT using 2 Stage Free Cash Flow to Equity Model
The calculations below outline how an intrinsic value for CTT - Correios De Portugal 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.
| Levered FCF (EUR, Millions) | Source |
Present Value Discounted (@ 11.37%) |
|
|---|---|---|---|
| 2019 | -18.00 | Analyst x2 | -16.16 |
| 2020 | 53.50 | Analyst x2 | 43.13 |
| 2021 | 70.00 | Analyst x1 | 50.68 |
| 2022 | 83.48 | Est @ 19.26% | 54.27 |
| 2023 | 95.20 | Est @ 14.03% | 55.57 |
| 2024 | 105.07 | Est @ 10.37% | 55.07 |
| 2025 | 113.27 | Est @ 7.81% | 53.31 |
| 2026 | 120.08 | Est @ 6.01% | 50.74 |
| 2027 | 125.79 | Est @ 4.76% | 47.73 |
| 2028 | 130.67 | Est @ 3.88% | 44.52 |
| Present value of next 10 years cash flows | €438.84 | ||
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2028
× (1 + g) ÷ (Discount Rate – g)
= €130.67 × (1 + 1.82%) ÷ (11.37% – 1.82%) |
€1,393.94 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)10
= €1,393.94 ÷ (1 + 11.37%)10 |
€474.90 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 10 years cash flows +
Terminal Value
= €438.84 + €474.90 |
€913.74 |
| Equity Value per Share (EUR) |
= Total value / Shares Outstanding
= €913.74 / 150.00 |
€6.09 |
| Calculation | Result | |
|---|---|---|
| Value per share (EUR) | From above. | €6.09 |
| Current discount | Discount to share price of
€2.78
= -1 x (€2.78 - €6.09) / €6.09 |
54.4% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
Current Discount
Current Discount Checks
- CTT - Correios De Portugal's share price is below the future cash flow value, and at a moderate discount (> 20%).
- CTT - Correios De Portugal's share price is below the future cash flow value, and 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 CTT - Correios De Portugal's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are
CTT - Correios De Portugal's earnings available for a low price, and how does
this compare to other companies in the same industry?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in EUR | €0.13 |
| ENXTLS:CTT Share Price ** | ENXTLS (2019-03-19) in EUR | €2.78 |
| Europe Logistics Industry PE Ratio | Median Figure of 18 Publicly-Listed Logistics Companies | 17.79x |
| Portugal Market PE Ratio | Median Figure of 33 Publicly-Listed Companies | 13.62x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of CTT - Correios De Portugal.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = ENXTLS:CTT Share Price ÷ EPS (both in EUR) = 2.78 ÷ 0.13 |
21.24x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- CTT - Correios De Portugal is overvalued based on earnings compared to the Europe Logistics industry average.
- CTT - Correios De Portugal is overvalued based on earnings compared to the Portugal market.
Price based on expected Growth
Does
CTT - Correios De Portugal's expected growth come at a high price?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | 21.24x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts |
30.2%per year |
| Europe Logistics Industry PEG Ratio | Median Figure of 13 Publicly-Listed Logistics Companies | 1.3x |
| Portugal Market PEG Ratio | Median Figure of 20 Publicly-Listed Companies | 1.19x |
*Line of best fit is calculated by linear regression .
| Calculation | Outcome | |
|---|---|---|
| PEG Ratio | = PE Ratio ÷ Net Income Annual Growth Rate = 21.24x ÷ 30.2% |
0.7x |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- CTT - Correios De Portugal is good value based on expected growth next year.
Price based on value of assets
What value do investors place on
CTT - Correios De Portugal's
assets?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in EUR | €0.98 |
| ENXTLS:CTT Share Price * | ENXTLS (2019-03-19) in EUR | €2.78 |
| Europe Logistics Industry PB Ratio | Median Figure of 25 Publicly-Listed Logistics Companies | 2.51x |
| Portugal Market PB Ratio | Median Figure of 43 Publicly-Listed Companies | 1.16x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = ENXTLS:CTT Share Price ÷ Book Value per Share (both in EUR) = 2.78 ÷ 0.98 |
2.84x |
* Primary Listing of CTT - Correios De Portugal.
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- CTT - Correios De Portugal is overvalued based on assets compared to the Europe Logistics industry average.
Value checks
We assess CTT - Correios De Portugal's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the Logistics industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the Logistics industry average (and greater than 0)? (1 check) CTT - Correios De Portugal 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.
CTT Future Performance
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!
Earnings growth vs Low Risk Savings
- CTT - Correios De Portugal's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
- CTT - Correios De Portugal's earnings growth is expected to exceed the Portugal market average.
- CTT - Correios De Portugal's revenue growth is positive but not above the Portugal market average.
Annual Growth Rates Comparison
| Data Point | Source | Value (per year) |
|---|---|---|
| ENXTLS:CTT Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts | 30.2% |
| ENXTLS:CTT Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts | 2.3% |
| Europe Logistics Industry Earnings Growth Rate | Market Cap Weighted Average | 14.5% |
| Europe Logistics Industry Revenue Growth Rate | Market Cap Weighted Average | 2.6% |
| Portugal Market Earnings Growth Rate | Market Cap Weighted Average | 8.2% |
| Portugal Market Revenue Growth Rate | Market Cap Weighted Average | 3.7% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 764 | 96 | 60 | 1 |
| 2020-12-31 | 735 | 76 | 37 | 4 |
| 2019-12-31 | 727 | 65 | 27 | 4 |
| Date (Data in EUR Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 704 | 59 | 20 |
| 2018-09-30 | 700 | 91 | 18 |
| 2018-06-30 | 695 | 184 | 16 |
| 2018-03-31 | 689 | 224 | 22 |
| 2017-12-31 | 690 | 291 | 27 |
| 2017-09-30 | 684 | 346 | 36 |
| 2017-06-30 | 683 | 377 | 48 |
| 2017-03-31 | 682 | 311 | 52 |
| 2016-12-31 | 676 | 268 | 62 |
| 2016-09-30 | 681 | 193 | 67 |
| 2016-06-30 | 686 | 125 | 65 |
| 2016-03-31 | 693 | 150 | 70 |
*GAAP earnings excluding extraordinary items.
Past and Future Earnings per Share
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (2 months ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
All data from CTT - Correios De Portugal Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2023-12-31 | ||||
| 2022-12-31 | ||||
| 2021-12-31 | 0.40 | 0.40 | 0.40 | 1.00 |
| 2020-12-31 | 0.24 | 0.30 | 0.18 | 4.00 |
| 2019-12-31 | 0.18 | 0.22 | 0.12 | 4.00 |
| Date (Data in EUR Millions) | EPS * |
|---|---|
| 2018-12-31 | 0.13 |
| 2018-09-30 | 0.12 |
| 2018-06-30 | 0.11 |
| 2018-03-31 | 0.15 |
| 2017-12-31 | 0.18 |
| 2017-09-30 | 0.24 |
| 2017-06-30 | 0.32 |
| 2017-03-31 | 0.35 |
| 2016-12-31 | 0.42 |
| 2016-09-30 | 0.45 |
| 2016-06-30 | 0.44 |
| 2016-03-31 | 0.47 |
*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.
- CTT - Correios De Portugal is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
Future performance checks
We assess CTT - Correios De Portugal's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
CTT - Correios De Portugal has a total score of 4/6, 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.
CTT Past Performance
How has CTT - Correios De Portugal 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
Past Earnings growth analysis
- CTT - Correios De Portugal's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
- CTT - Correios De Portugal's 1-year earnings growth is negative, it can't be compared to the 5-year average.
- CTT - Correios De Portugal's 1-year earnings growth is negative, it can't be compared to the Europe Logistics industry average.
Earnings and Revenue History
All data from CTT - Correios De Portugal Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in EUR Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 704.47 | 19.62 | 259.91 | |
| 2018-09-30 | 700.38 | 17.65 | 252.72 | |
| 2018-06-30 | 695.46 | 15.77 | 250.69 | |
| 2018-03-31 | 688.64 | 22.28 | 248.48 | |
| 2017-12-31 | 690.01 | 27.26 | 242.68 | |
| 2017-09-30 | 683.86 | 35.64 | 235.67 | |
| 2017-06-30 | 683.14 | 48.23 | 228.25 | |
| 2017-03-31 | 682.45 | 51.82 | 223.82 | |
| 2016-12-31 | 675.75 | 62.16 | 222.71 | |
| 2016-09-30 | 680.69 | 67.47 | 230.43 | |
| 2016-06-30 | 686.42 | 64.58 | 234.53 | |
| 2016-03-31 | 692.59 | 70.44 | 224.65 | |
| 2015-12-31 | 709.39 | 72.07 | 224.92 | |
| 2015-09-30 | 725.82 | 75.17 | 229.12 | |
| 2015-06-30 | 733.50 | 80.27 | 227.55 | |
| 2015-03-31 | 734.40 | 81.39 | 232.94 | |
| 2014-12-31 | 710.62 | 77.17 | 234.85 | |
| 2014-09-30 | 695.14 | 68.48 | 234.53 | |
| 2014-06-30 | 690.05 | 65.44 | 237.30 | |
| 2014-03-31 | 687.18 | 61.24 | 238.91 | |
| 2013-12-31 | 699.21 | 61.02 | 240.40 | |
| 2013-09-30 | 700.81 | 45.55 | 243.19 | |
| 2013-06-30 | 697.00 | 30.51 | 240.91 | |
| 2013-03-31 | 703.40 | 35.15 | 245.09 | |
| 2012-12-31 | 706.55 | 35.74 | 250.44 |
*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.
- CTT - Correios De Portugal has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
- CTT - Correios De Portugal used its assets less efficiently than the Europe Logistics industry average last year based on Return on Assets.
- CTT - Correios De Portugal's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
Past performance checks
We assess CTT - Correios De Portugal's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the Logistics industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
CTT - Correios De Portugal has a total score of 0/6, 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.
CTT Health
How is CTT - Correios De Portugal'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 CTT - Correios De Portugal's finances.
The net worth of a company is the difference between its assets and liabilities.
- CTT - Correios De Portugal's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
- CTT - Correios De Portugal's cash and other short term assets cover its long term commitments.
Balance sheet
Assets
Liabilities and shares
- Low level of unsold assets.
- Debt is covered by short term assets, assets are 24.1x 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.
All data from CTT - Correios De Portugal Company Filings, last reported 2 months ago.
| Date (Data in EUR Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 146.75 | 30.86 | 527.59 |
| 2018-09-30 | 135.43 | 4.23 | 536.67 |
| 2018-06-30 | 131.78 | 2.54 | 691.56 |
| 2018-03-31 | 187.91 | 10.12 | 601.46 |
| 2017-12-31 | 183.99 | 10.38 | 728.68 |
| 2017-09-30 | 181.74 | 8.03 | 755.28 |
| 2017-06-30 | 179.66 | 8.40 | 807.99 |
| 2017-03-31 | 244.28 | 9.32 | 659.14 |
| 2016-12-31 | 233.33 | 9.81 | 680.95 |
| 2016-09-30 | 225.35 | 10.20 | 662.97 |
| 2016-06-30 | 211.41 | 10.54 | 695.27 |
| 2016-03-31 | 270.58 | 10.48 | 573.15 |
| 2015-12-31 | 251.83 | 8.11 | 603.65 |
| 2015-09-30 | 227.65 | 9.87 | 630.11 |
| 2015-06-30 | 215.26 | 5.94 | 674.49 |
| 2015-03-31 | 272.20 | 5.15 | 522.81 |
| 2014-12-31 | 249.21 | 3.76 | 664.57 |
| 2014-09-30 | 266.48 | 7.70 | 696.51 |
| 2014-06-30 | 249.94 | 7.18 | 675.91 |
| 2014-03-31 | 292.12 | 7.03 | 545.29 |
| 2013-12-31 | 275.93 | 7.00 | 544.88 |
| 2013-09-30 | 264.73 | 6.48 | 610.08 |
| 2013-06-30 | 255.26 | 6.29 | 645.65 |
| 2013-03-31 | 273.48 | 11.42 | 489.30 |
| 2012-12-31 | 273.48 | 11.42 | 489.30 |
- CTT - Correios De Portugal's level of debt (21%) compared to net worth is satisfactory (less than 40%).
- The level of debt compared to net worth has increased over the past 5 years (2.5% vs 21% today).
- Debt is well covered by operating cash flow (191.7%, greater than 20% of total debt).
- Interest payments on debt are well covered by earnings (EBIT is 53x coverage).
Financial health checks
We assess CTT - Correios De Portugal's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) CTT - Correios De Portugal has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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.
CTT Dividends
What is CTT - Correios De Portugal'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
If you bought
€2,000 of
CTT - Correios De Portugal
shares you are expected to receive
€72
in your first year as a dividend.
Dividend Amount
- CTT - Correios De Portugal's pays a higher dividend yield than the bottom 25% of dividend payers in Portugal (2.92%).
- CTT - Correios De Portugal's dividend is below the markets top 25% of dividend payers in Portugal (6.55%).
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.
| 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 4 Analyst Estimates (S&P Global) | See Below |
| Europe Logistics Industry Average Dividend Yield | Market Cap Weighted Average of 15 Stocks | 4% |
| Portugal Market Average Dividend Yield | Market Cap Weighted Average of 19 Stocks | 4.1% |
| Portugal Minimum Threshold Dividend Yield | 10th Percentile | 1.4% |
| Portugal Bottom 25% Dividend Yield | 25th Percentile | 2.9% |
| Portugal Top 25% Dividend Yield | 75th Percentile | 6.5% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in €) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2023-12-31 | ||
| 2022-12-31 | ||
| 2021-12-31 | 0.30 | 1.00 |
| 2020-12-31 | 0.17 | 4.00 |
| 2019-12-31 | 0.14 | 4.00 |
| Date (Data in €) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-03-18 | 0.100 | 3.617 |
| 2019-02-20 | 0.100 | 3.554 |
| 2018-03-07 | 0.380 | 12.139 |
| 2017-03-10 | 0.480 | 10.848 |
| 2016-10-31 | 0.480 | 8.391 |
| 2016-03-15 | 0.465 | 6.517 |
| 2015-03-26 | 0.465 | 5.131 |
| 2015-03-04 | 0.465 | 4.862 |
| 2014-03-24 | 0.400 | 5.139 |
| 2014-03-12 | 0.400 | 5.311 |
| 2013-12-05 | 0.257 | 4.024 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- CTT - Correios De Portugal has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
- CTT - Correios De Portugal has only been paying a dividend for 5 years, and since then dividends per share have fallen.
Income/ dividend checks
We assess CTT - Correios De Portugal's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 1.4%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- How sustainable is the dividend, can CTT - Correios De Portugal afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks) CTT - Correios De Portugal 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.
CTT Management
CEO
| COMPENSATION | €943,724 |
| AGE | 58 |
| TENURE AS CEO | 6.6 years |
CEO Bio
Mr. Francisco José Queiroz de Barros de Lacerda has been the Chief Executive Officer at CTT - Correios De Portugal, S.A., since August 24, 2012. Mr. de Lacerda serves as Vice President of the Management Board at BankEuropa Bankasi, A.S. in Turkey. He has been a Member of the Management Board of NovaBank S.A. in Greece since April 2003. He has been the Chairman of the Board of Banco CTT, S.A. since August 24, 2015. He served as the Chief Executive Officer of CIMPOR - Cimentos De Portugal From 2010 to 2012 and SGPS, S.A. He served as the Chief Executive Officer of Cimentos De Portugal, SGPS, S.A. He joined Banco Mello de Investments S.A. in 1991 and served as its Managing Director from 1993 to 2000. He served as a Vice President of Banco Mello S.A. since 1997. He served as the President of several banks and financial companies, subsidiaries of Banco Mello, in Portugal and abroad. He served as the 1st Vice President of Bank Millennium Spolka Akcyjna from May 7, 2001 to April 30, 2003. He was a Partner of Banco Activobank S.A. He served as a Senior Specialist and Manager of the Financial Assistance and Capital Market Services at Cisf - Companhia de Investimentos e Servicos Financeiros (now renamed BCP Investimento) from 1985 to 1987. He served as a Financial Engineering and Capital Market Manager at Hispano Americano Sociedade de Investimentos. He served as an Analyst, Advisor and General Manager of LOCAPOR (leasing business) and UNICRE (credit card business) from 1984 to 1986. Mr. de Lacerda served as a Manager of BCP Participacoes Financeiras, S.G.P.S., Sociedade Unipessoal Lda. He started his career in 1982 at Locapor where he remained until 1984, when he moved to Unicre to work in the financial area. He served as an Assistant Professor at Universidade Catolica Portuguesa from 1984 to 1985. He has been the Chairman of the Board and Director at CTT - Correios De Portugal, S.A. since March 24, 2014 and August 24, 2012 respectively. He served as the Chairman of Banco Mello since 1997. He served as the Chairman of the Board of Directors of Sociedade de Investimento Cimpor Macau SA. He served as Deputy Chairman of Management Board at Bank Millennium Spolka Akcyjna since May 1, 2003 and also served as its Member of Management Board since July 16, 2003. He served as a Vice President of the Management Board at Bank Millennium Spolka Akcyjna until May 1, 2003. He served as a Vice Chairman of Supervisory Boards of Millennium Dom Maklerski S.A., Forin Sp. z o.o. and Bel Leasing Sp. z o.o. He has been an External Independent Director at Endesa SA since April 27, 2015. From 2000 to 2008, he served as an Executive Member of the Board of Directors of Millenium BCP, where he was responsible for the Group's activities in Europe from 2003 to 2007 and for the Investment Bank from 2005 to 2007. He served as a Director In-charge of finances and the capital market at CISF, a company providing financial and investment services from 1985 to 1987 and Hispano Americano Sociedade de Investimentos S.A, an investment society from 1987 to 1990. He served as a Director of Cimentos De Portugal, SGPS, S.A., since April 2010. Mr. de Lacerda served as a Director of Fundacao Banco Comercial Portugues and ServiBanca - Empresa de Prestacao de Servicos A C E. He served as a Director of CIMPOR - Cimentos De Portugal, SGPS, S.A. since April 29, 2010. He served as an Independent Director of EDP Renováveis from June 2008 to 2012. He served as a Member of the Supervisory Board at Bank Millenium SA from July 16, 2003 to March 26, 2008. He served as a Director of UIF SGPS from 1990 to 2000. He served as a Director of Banco Comercial Português S.A. since 2000. He served as a Director of Companhia de Seguros Império. He served as a Director of Banco Mello since 1995. He served as a Director of Servibanca - Empresa de Prestaçao de Serviços, A.C.E. and Fundaçao Banco Commercial Portugues, subsidiaries of Banco Comercial Português S.A. He served as a Director of several banks and financial companies, subsidiaries of Banco Mello, in Portugal and abroad. He served as a Member of the Supervisory Board at Bank Millennium Spolka Akcyjna from July 16, 2003 to March 26, 2008. He served as an Assistant Professor at Universidade Católica Portuguesa from 1984 to 1985. He is a Member of the Advisory Boards of Master in Finance of Católica, Business & Economics since 2006 and of Nova, Business & Economics since 2011. Mr. De Lacerda holds a Degree in Company Administration and Business Management from Universidade Catolica Portuguesa in 1982.
CEO Compensation
- Francisco José Queiroz de's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.
- Francisco José Queiroz de's remuneration is higher than average for companies of similar size in Portugal.
Management Team
Francisco José Queiroz de de Lacerda
CEO & Vice Chairman
€944K
58
6.6 yrs
Dionizia Ribeiro Farinha Ferreira
CCO of Corporate & Executive Director
€662K
52
Guy Patrick Guimarães de Pacheco
CFO & Executive Director
1.3 yrs
Francisco Maria da de Sousa de Macedo Simão
COO, CTO & Executive Director
Peter Tsvetkov
Director of Investor Relations
António Ferreira Vaz da Silva
CCO of Retail & Executive Director
Ana Baião Matos
Director of Accounting and Treasury
Maria Da Graça F. De E Sousa Góis
Company Secretary and General Secretariat
Miguel Alexandre Salema Garção
Director of Brand & Communication
Luís Miguel Rodrigues
Director of Physical Resources & Security and Executive Director Mozambique
Board of Directors Tenure
Average tenure and age of the CTT - Correios De Portugal board of directors in years:
- The tenure for the CTT - Correios De Portugal board of directors is about average.
Board of Directors
António Sarmento Mota
Non-Executive Chairman & Lead Independent Director
€135K
60
5.2 yrs
Francisco José Queiroz de de Lacerda
CEO & Vice Chairman
€944K
58
5 yrs
Dionizia Ribeiro Farinha Ferreira
CCO of Corporate & Executive Director
€662K
52
6.6 yrs
Guy Patrick Guimarães de Pacheco
CFO & Executive Director
Francisco Maria da de Sousa de Macedo Simão
COO, CTO & Executive Director
António Ferreira Vaz da Silva
CCO of Retail & Executive Director
Maria Luísa Coutinho Ferreira Leite Castro Anacoreta Correia
Non-Executive Director
Nuno De Carvalho Thomaz
Non Executive Director
€60K
75
5 yrs
José Manuel Fino
Non Executive Director
€46K
64
4.3 yrs
Céline Dora Abecassis-Moedas
Non-Executive Director
47
2.6 yrs
Who owns this company?
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price (€) | Value (€) | |
|---|---|---|---|---|---|---|---|---|---|---|
Management checks
We assess CTT - Correios De Portugal's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) CTT - Correios De Portugal 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.
CTT News
Simply Wall St News
Those Who Purchased CTT - Correios De Portugal (ELI:CTT) Shares Three Years Ago Have A 65% Loss To Show For It
(ELI:CTT) shareholders know that all too well, since the share price is down considerably over three years. … So they might be feeling emotional about the 65% share price collapse, in that time. … One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement.
Simply Wall St - – Full articleWhy Fundamental Investors Might Love CTT - Correios De Portugal, S.A. (ELI:CTT)
Help shape the future of investing tools and receive a $20 prize! … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … financial health as well as
Simply Wall St - – Full articleDoes CTT - Correios De Portugal, S.A.'s (ELI:CTT) CEO Salary Compare Well With Others?
Francisco José Queiroz de de Lacerda has been the CEO of CTT - Correios De Portugal, S.A. … This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Francisco José Queiroz de de Lacerda's Compensation Compare With Similar Sized Companies?
Simply Wall St - – Full articleHow Did CTT - Correios De Portugal, S.A.'s (ELI:CTT) 13% ROE Fare Against The Industry?
By way of learning-by-doing, we'll look at ROE to gain a better understanding CTT - Correios De Portugal, S.A. … That means that for every €1 worth of shareholders' equity, it generated €0.13 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity
Simply Wall St - – Full articleWhat Should Investors Know About CTT - Correios De Portugal SA's (ELI:CTT) Return On Capital?
Your equity share is granted in return for the capital provided to the business to operate, and in order for an investment to be successful the business has to create earnings from the funds that make up this capital. … You need to pay attention to this because your return on investment is linked to dividends and internal investments to improve the business, which can only occur if the company is expected to produce adequate earnings with the capital that has been provided. … To understand CTT - Correios De Portugal’s capital returns we will look at a useful metric called return on capital employed.
Simply Wall St - – Full articleAn Intrinsic Calculation For CTT - Correios De Portugal SA (ELI:CTT) Shows It's 38.24% Undervalued
by taking the expected future cash flows and discounting them to their present value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model
Simply Wall St - – Full articleHow Should Investors Feel About CTT - Correios De Portugal SA's (ELI:CTT) CEO Pay?
In 2012 Francisco José Queiroz de de Lacerda was appointed CEO of CTT - Correios De Portugal SA (ELI:CTT). … How Does Francisco José Queiroz de de Lacerda's Compensation Compare With Similar Sized Companies. … It would therefore appear that CTT - Correios De Portugal SA pays Francisco José Queiroz de de Lacerda more than the median CEO remuneration at companies of a similar size, in the same market
Simply Wall St - – Full articleDoes CTT - Correios De Portugal SA's (ELI:CTT) PE Ratio Signal A Selling Opportunity?
CTT - Correios De Portugal SA (ELI:CTT) trades with a trailing P/E of 31.8, which is higher than the industry average of 19.2. … Although some investors may see this as unappealing, it is important to understand the assumptions behind the P/E ratio before making judgments. … View our latest analysis for CTT - Correios De Portugal
Simply Wall St - – Full articleCTT - Correios De Portugal SA (ELI:CTT): Can It Deliver A Superior ROE To The Industry?
CTT - Correios De Portugal SA’s (ELI:CTT) most recent return on equity was a substandard 11.91% relative to its industry performance of 18.93% over the past year. … An investor may attribute an inferior ROE to a relatively inefficient performance, and whilst this can often be the case, knowing the nuts and bolts of the ROE calculation may change that perspective and give you a deeper insight into CTT's past performance. … View our latest analysis for CTT - Correios De Portugal
Simply Wall St - – Full articleWhat Should Investors Know About The Future Of CTT - Correios De Portugal SA's (ELI:CTT)?
In March 2018, CTT - Correios De Portugal SA (ELI:CTT) released its earnings update. … analyst consensus outlook appear cautiously optimistic, … the past 5-year average growth rate of -1.51%
Simply Wall St - – Full articleCTT Company Info
Description
CTT - Correios De Portugal, S.A., together with its subsidiaries, provides postal and financial services worldwide. The company operates through Mail, Express & Parcels, Financial Services, and Banco CTT segments. It offers courier, urgent mail, and merchandise services; banking services; services related with the distribution of advertising mail; and physical and hybrid mail production, as well as electronic document management services. The company also provides transport solutions in the road haulage market; and services related to the information and communication technologies, such as invoice processing and digital receipts. In addition, it enables the payment of various services and utilities through a network of approximately 4,000 agents covering business outlets as stationery stores, tobacco shops, kiosks, and supermarkets. The company operates a retail network of 2,369 contact points with 608 post offices; 1,761 postal agencies; and 1,899 stamp sale points, as well as 175 automatic stamp vending machines and 14 automatic postal product vending machines. It also operates a sorting network of 3 production and logistics centers, 7 logistics and delivery centers, and 1 business mail center; a transport network with 244 vehicles; and 235 postal delivery offices, including 60 delivery support offices, as well as 2 delivery support services. The company was formerly known as Correio Publico. CTT - Correios De Portugal, S.A. was founded in 1520 and is headquartered in Lisbon, Portugal.
Details
| Name: | CTT - Correios De Portugal, S.A. |
| CTT | |
| Exchange: | ENXTLS |
| Founded: | 1520 |
| €416,699,997 | |
| 149,999,999 | |
| Website: | http://www.ctt.pt |
| Address: |
CTT - Correios De Portugal, S.A. Avenida D. João II, no. 13, Lisbon, Lisbon, 1999-001, Portugal |
Listings
| Exchange Symbol | Ticker Symbol | Security | Exchange | Country | Currency | Listed on | |
|---|---|---|---|---|---|---|---|
| ENXTLS | CTT | Ordinary Shares | Euronext Lisbon | PT | EUR | 05. Dec 2013 | |
| OTCPK | CTTO.F | Ordinary Shares | Pink Sheets LLC | US | USD | 05. Dec 2013 | |
| DB | C7T | Ordinary Shares | Deutsche Boerse AG | DE | EUR | 05. Dec 2013 | |
| LSE | 0QIM | Ordinary Shares | London Stock Exchange | GB | EUR | 05. Dec 2013 | |
| BATS-CHIXE | CTTU | Ordinary Shares | BATS 'Chi-X Europe' | GB | EUR | 05. Dec 2013 | |
| OTCPK | CTTP.Y | ADR | Pink Sheets LLC | US | USD | 09. Jan 2015 |
Number of employees
Current staff
Industry
| Air Freight and Logistics | |
| Transportation |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/03/19 21:42 |
| End of day share price update: | 2019/03/19 00:00 |
| Last estimates confirmation: | 2019/02/27 |
| Last earnings filing: | 2019/03/16 |
| 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.
