OTCPK:CNVA.F

Stock Analysis Report

Executive Summary

Cnova N.V. operates as an e-commerce company in France and internationally.


Snowflake Analysis

Imperfect balance sheet with weak fundamentals.


Similar Companies

Share Price & News

How has Cnova's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: CNVA.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

CNVA.F

-4.3%

US Online Retail

-2.7%

US Market


1 Year Return

-40.2%

CNVA.F

17.1%

US Online Retail

21.2%

US Market

Return vs Industry: CNVA.F underperformed the US Online Retail industry which returned 23.5% over the past year.

Return vs Market: CNVA.F underperformed the US Market which returned 24.7% over the past year.


Shareholder returns

CNVA.FIndustryMarket
7 Day0%-4.3%-2.7%
30 Day-10.7%-2.8%0.09%
90 Dayn/a6.5%6.9%
1 Year-40.2%-40.2%17.1%17.1%23.8%21.2%
3 Year-54.1%-54.1%91.4%91.2%48.1%38.6%
5 Year-54.5%-54.5%188.7%176.4%72.5%53.4%

Price Volatility Vs. Market

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


Simply Wall St News

No news available

Valuation

Is Cnova undervalued compared to its fair value and its price relative to the market?


In this section, we usually try to help investors determine whether Cnova is trading at an attractive price based on the cash flow it is expected to produce in the future. But as Cnova has not provided consistent financial data, and the stock also has no analyst forecast or coverage, its intrinsic value cannot be reliably calculated by extrapolating past data or using analyst consensus cash flow predictions.

This is quite a rare situation as 89% of companies covered by Simply Wall St do have a valuation analysis.


Next Steps

  • Take a look at our analysis of CNVA.F’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • When valuing a company like this, investors focus more on how they perceive the size of the opportunity, the company's ability to deliver and scale, and the strength of the team. While we are not analysing this type of data at the moment, if you don’t know where to start, we recommend reading through Cnova regulatory filings here.
  • Explore potentially undervalued companies in the Retail industry.

Future Growth

How is Cnova forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

23.9%

Forecasted Retail industry annual growth in earnings


In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Cnova has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.


Next Steps

  • Take a look at our analysis of CNVA.F’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
  • While we do not consider unaudited financials to be a reliable enough to include in our analysis, you can access them on the OTC Markets Website. If you are looking for more of a qualitative research into the company, you can access Cnova's filings and announcements here.
  • Explore growth companies in the Retail industry.

Past Performance

How has Cnova performed over the past 5 years?

1.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: CNVA.F is currently unprofitable.

Growing Profit Margin: CNVA.F is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: CNVA.F is unprofitable, but has reduced losses over the past 5 years at a rate of 1% per year.

Accelerating Growth: Unable to compare CNVA.F's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: CNVA.F is unprofitable, making it difficult to compare its past year earnings growth to the Online Retail industry (4.9%).


Return on Equity

High ROE: CNVA.F's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Cnova's financial position?


Financial Position Analysis

Short Term Liabilities: CNVA.F has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: CNVA.F has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.


Debt to Equity History and Analysis

Debt Level: CNVA.F has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: CNVA.F's has negative shareholder equity, so we do not need to check if its debt has reduced over time.


Balance Sheet

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

Debt Coverage by Assets: CNVA.F has negative shareholder equity (liabilities exceed assets) therefore debt is not covered by short term assets.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: CNVA.F has sufficient cash runway for more than 3 years based on its current free cash flow.

Forecast Cash Runway: CNVA.F has sufficient cash runway for 1.6 years if free cash flow continues to grow at historical rates of 81% each year.


Next Steps

Dividend

What is Cnova's current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

companyn/amarketbottom25%1.4%markettop25%3.7%industryaverage1.0%forecastin3Yearsn/a

Current dividend yield vs market & industry

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

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


Stability and Growth of Payments

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

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


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of CNVA.F's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

What is the CEO of Cnova's salary, the management and board of directors tenure and is there insider trading?

3.8yrs

Average management tenure


CEO

Emmanuel Grenier (48yo)

4yrs

Tenure

0

Mr. Emmanuel Grenier is Chairman and Chief Executive Officer of Cdiscount at Casino, Guichard-Perrachon Société Anonyme. He has been the Chief Executive Officer of Cnova N.V. since January 21, 2016 and ser ...


CEO Compensation Analysis

Compensation vs Market: Emmanuel's total compensation ($USD0.00) is below average for companies of similar size in the US market ($USD2.53M).

Compensation vs Earnings: Insufficient data to compare Emmanuel's compensation with company performance.


Management Age and Tenure

3.8yrs

Average Tenure

43.5yo

Average Age

Experienced Management: CNVA.F's management team is considered experienced (3.8 years average tenure).


Board Age and Tenure

4.5yrs

Average Tenure

55yo

Average Age

Experienced Board: CNVA.F's board of directors are considered experienced (4.5 years average tenure).


Insider Trading

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.


Management Team

  • Emmanuel Grenier (48yo)

    CEO & Executive Director

    • Tenure: 4yrs
  • Pascal Rivet (58yo)

    Chief Compliance Officer

    • Tenure: 3.8yrs
  • Steven Geers (37yo)

    General Counsel

    • Tenure: 3.8yrs
  • Gautier Bailly (39yo)

    Group Chief Financial Officer

    • Tenure: 1.2yrs
  • Emmanuel Wetzel

    In Charge of Investor Relations


    Board Members

    • Ronaldo dos Santos Pereira (64yo)

      Independent Vice-Chairman

      • Compensation: €27.00k
    • Eleazar de Carvalho Filho (62yo)

      Non Executive Director

      • Tenure: 5.3yrs
      • Compensation: €50.00k
    • Bernard Roger Oppetit (63yo)

      Independent Non Executive Director

      • Tenure: 5.2yrs
      • Compensation: €96.00k
    • Silvio Genesini Junior (67yo)

      Independent Non Executive Director

      • Tenure: 5.1yrs
      • Compensation: €97.50k
    • Arnaud Daniel Charles Walter Joachim Strasser (50yo)

      Non Executive Director

      • Tenure: 5.7yrs
      • Compensation: €27.00k
    • Emmanuel Grenier (48yo)

      CEO & Executive Director

      • Tenure: 4yrs
    • Christophe José Hidalgo (52yo)

      Non-Executive Director

      • Tenure: 3yrs
      • Compensation: €10.00k
    • Jean-Yves Haagen (55yo)

      Independent Chairman

      • Tenure: 1.2yrs
      • Compensation: €10.00k
    • Franck-Philippe Georgin (38yo)

      Non-Executive Director

      • Tenure: 1.2yrs
      • Compensation: €1.10k

    Company Information

    Cnova N.V.'s company bio, employee growth, exchange listings and data sources


    Key Information

    • Name: Cnova N.V.
    • Ticker: CNVA.F
    • Exchange: OTCPK
    • Founded: 1998
    • Industry: Internet and Direct Marketing Retail
    • Sector: Retail
    • Market Cap: €863.026m
    • Listing Market Cap: €951.098m
    • Shares outstanding: 345.21m
    • Website: https://www.cnova.com

    Number of Employees


    Location

    • Cnova N.V.
    • Strawinskylaan 3051
    • Amsterdam
    • Noord-Holland
    • 1077 ZX
    • Netherlands

    Listings

    TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
    CNVA.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 2014
    0RABLSE (London Stock Exchange)YesOrdinary SharesGBEURNov 2014
    CNVENXTPA (Euronext Paris)YesOrdinary SharesFREURNov 2014

    Biography

    Cnova N.V. operates as an e-commerce company in France and internationally. The company offers home appliances, consumer electronics, computers, home furnishings, and leisure and personal goods through its cdiscount.com Website, as well as through 49 Cdiscount showrooms. It also operates Cdiscount Voyages, a travel platform for flights, holiday rentals, and equipment; Cdiscount Billetterie, a ticketing platform; 1001Pneus, a tire e-retailer; and Stootie, a peer-to-peer platform for personal services. The company was founded in 1998 and is headquartered in Amsterdam, the Netherlands. Cnova N.V. is a subsidiary of Casino, Guichard-Perrachon S.A. 


    Company Analysis and Financial Data Status

    All financial data provided by Standard & Poor's Capital IQ.
    DataLast Updated (UTC time)
    Company Analysis2020/01/28 01:26
    End of Day Share Price2020/01/10 00:00
    Earnings2019/06/30
    Annual Earnings2018/12/31


    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.