ACCOR SA (AC.PA)
FR0000120404 - Common Stock
We assign a fundamental rating of 4 out of 10 to AC. AC was compared to 52 industry peers in the Hotels, Restaurants & Leisure industry. AC has a medium profitability rating, but doesn't score so well on its financial health evaluation. AC is valied quite expensively at the moment, while it does show a decent growth rate.
1. Profitability
1.1 Basic Checks
AC had positive earnings in the past year.
AC had a positive operating cash flow in the past year.
Of the past 5 years AC 4 years were profitable.
The reported operating cash flow has been mixed in the past 5 years: AC reported negative operating cash flow in multiple years.
1.2 Ratios
Looking at the Return On Assets, with a value of 5.19%, AC is in the better half of the industry, outperforming 66.67% of the companies in the same industry.
AC has a Return On Equity of 13.32%. This is in the better half of the industry: AC outperforms 75.56% of its industry peers.
Looking at the Return On Invested Capital, with a value of 7.33%, AC is in the better half of the industry, outperforming 62.22% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.19% | ||
| ROE | 13.32% | ||
| ROIC | 7.33% |
ROA(3y)2.94%
ROA(5y)-1.46%
ROE(3y)6.77%
ROE(5y)-4.57%
ROIC(3y)N/A
ROIC(5y)N/A
1.3 Margins
AC's Profit Margin of 11.20% is fine compared to the rest of the industry. AC outperforms 73.33% of its industry peers.
AC's Profit Margin has declined in the last couple of years.
AC has a Operating Margin of 14.11%. This is in the better half of the industry: AC outperforms 71.11% of its industry peers.
In the last couple of years the Operating Margin of AC has remained more or less at the same level.
The Gross Margin of AC (97.43%) is better than 97.78% of its industry peers.
In the last couple of years the Gross Margin of AC has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 14.11% | ||
| PM (TTM) | 11.2% | ||
| GM | 97.43% |
OM growth 3YN/A
OM growth 5Y-1.45%
PM growth 3YN/A
PM growth 5Y-29.53%
GM growth 3Y0.18%
GM growth 5Y-0.04%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so AC is still creating some value.
AC has less shares outstanding than it did 1 year ago.
The number of shares outstanding for AC has been reduced compared to 5 years ago.
The debt/assets ratio for AC is higher compared to a year ago.
2.2 Solvency
Based on the Altman-Z score of 1.62, we must say that AC is in the distress zone and has some risk of bankruptcy.
AC has a Altman-Z score of 1.62. This is comparable to the rest of the industry: AC outperforms 53.33% of its industry peers.
AC has a debt to FCF ratio of 10.36. This is a negative value and a sign of low solvency as AC would need 10.36 years to pay back of all of its debts.
With a Debt to FCF ratio value of 10.36, AC perfoms like the industry average, outperforming 44.44% of the companies in the same industry.
A Debt/Equity ratio of 0.82 indicates that AC is somewhat dependend on debt financing.
Looking at the Debt to Equity ratio, with a value of 0.82, AC is in line with its industry, outperforming 57.78% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | 10.36 | ||
| Altman-Z | 1.62 |
ROIC/WACC1.2
WACC6.11%
2.3 Liquidity
AC has a Current Ratio of 0.96. This is a bad value and indicates that AC is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.96, AC perfoms like the industry average, outperforming 55.56% of the companies in the same industry.
AC has a Quick Ratio of 0.96. This is a bad value and indicates that AC is not financially healthy enough and could expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 0.95, AC is in line with its industry, outperforming 55.56% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.96 | ||
| Quick Ratio | 0.95 |
3. Growth
3.1 Past
AC shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -6.15%.
The Earnings Per Share has been growing slightly by 6.78% on average over the past years.
The Revenue has grown by 8.77% in the past year. This is quite good.
AC shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.03% yearly.
EPS 1Y (TTM)-6.15%
EPS 3YN/A
EPS 5Y6.78%
EPS Q2Q%11.11%
Revenue 1Y (TTM)8.77%
Revenue growth 3Y46.11%
Revenue growth 5Y9.03%
Sales Q2Q%11.54%
3.2 Future
Based on estimates for the next years, AC will show a quite strong growth in Earnings Per Share. The EPS will grow by 16.03% on average per year.
AC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.93% yearly.
EPS Next Y23.61%
EPS Next 2Y17.3%
EPS Next 3Y15.68%
EPS Next 5Y16.03%
Revenue Next Year7.93%
Revenue Next 2Y6.57%
Revenue Next 3Y6.26%
Revenue Next 5Y6.93%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
With a Price/Earnings ratio of 24.74, AC is valued on the expensive side.
Compared to the rest of the industry, the Price/Earnings ratio of AC is on the same level as its industry peers.
Compared to an average S&P500 Price/Earnings ratio of 29.48, AC is valued at the same level.
A Price/Forward Earnings ratio of 17.98 indicates a rather expensive valuation of AC.
AC's Price/Forward Earnings is on the same level as the industry average.
When comparing the Price/Forward Earnings ratio of AC to the average of the S&P500 Index (23.95), we can say AC is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.74 | ||
| Fwd PE | 17.98 |
4.2 Price Multiples
AC's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 28.92 | ||
| EV/EBITDA | N/A |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
AC's earnings are expected to grow with 15.68% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.05
PEG (5Y)3.65
EPS Next 2Y17.3%
EPS Next 3Y15.68%
5. Dividend
5.1 Amount
AC has a Yearly Dividend Yield of 2.56%.
AC's Dividend Yield is rather good when compared to the industry average which is at 2.83. AC pays more dividend than 88.89% of the companies in the same industry.
AC's Dividend Yield is comparable with the S&P500 average which is at 2.16.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.56% |
5.2 History
The dividend of AC has a limited annual growth rate of 0.38%.
Dividend Growth(5Y)0.38%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
AC pays out 48.58% of its income as dividend. This is a bit on the high side, but may be sustainable.
AC's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP48.58%
EPS Next 2Y17.3%
EPS Next 3Y15.68%
ACCOR SA
EPA:AC (12/6/2024, 7:00:00 PM)
46.02
-0.08 (-0.17%)
Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap10.76B
Analysts
Price Target
Short Float %
Short Ratio
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.56% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
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Min EPS beat(2)
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EPS beat(16)
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Revenue beat(2)
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PT rev (1m)
PT rev (3m)
EPS NQ rev (1m)
EPS NQ rev (3m)
EPS NY rev (1m)
EPS NY rev (3m)
Revenue NQ rev (1m)
Revenue NQ rev (3m)
Revenue NY rev (1m)
Revenue NY rev (3m)
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 24.74 | ||
| Fwd PE | 17.98 | ||
| P/S | |||
| P/FCF | |||
| P/OCF | |||
| P/B | |||
| P/tB | |||
| EV/EBITDA |
EPS(TTM)
EY
EPS(NY)
Fwd EY
FCF(TTM)
FCFY
OCF(TTM)
OCFY
SpS
BVpS
TBVpS
PEG (NY)1.05
PEG (5Y)3.65
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 5.19% | ||
| ROE | 13.32% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 14.11% | ||
| PM (TTM) | 11.2% | ||
| GM | 97.43% | ||
| FCFM |
ROA(3y)
ROA(5y)
ROE(3y)
ROE(5y)
ROIC(3y)
ROIC(5y)
ROICexc(3y)
ROICexc(5y)
ROICexgc(3y)
ROICexgc(5y)
ROCE(3y)
ROCE(5y)
ROICexcg growth 3Y
ROICexcg growth 5Y
ROICexc growth 3Y
ROICexc growth 5Y
OM growth 3Y
OM growth 5Y
PM growth 3Y
PM growth 5Y
GM growth 3Y
GM growth 5Y
F-Score
Asset Turnover0.46
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.82 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 0.96 | ||
| Quick Ratio | 0.95 | ||
| Altman-Z |
F-Score
WACC
ROIC/WACC
Cap/Depr(3y)
Cap/Depr(5y)
Cap/Sales(3y)
Cap/Sales(5y)
Profit Quality(3y)
Profit Quality(5y)
High Growth Momentum
Growth
EPS 1Y (TTM)-6.15%
EPS 3YN/A
EPS 5Y
EPS Q2Q%
EPS Next Y23.61%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)8.77%
Revenue growth 3Y46.11%
Revenue growth 5Y
Sales Q2Q%
Revenue Next Year
Revenue Next 2Y
Revenue Next 3Y
Revenue Next 5Y
EBIT growth 1Y
EBIT growth 3Y
EBIT growth 5Y
EBIT Next Year
EBIT Next 3Y
EBIT Next 5Y
FCF growth 1Y
FCF growth 3Y
FCF growth 5Y
OCF growth 1Y
OCF growth 3Y
OCF growth 5Y