COVIVIO (COV.PA)
FR0000064578 - REIT
Overall COV gets a fundamental rating of 3 out of 10. We evaluated COV against 46 industry peers in the Diversified REITs industry. There are concerns on the financial health of COV while its profitability can be described as average. COV has a valuation in line with the averages, but on the other hand it scores bad on growth.
1. Profitability
1.1 Basic Checks
In the past year COV was profitable.
In the past year COV had a positive cash flow from operations.
Of the past 5 years COV 4 years were profitable.
Each year in the past 5 years COV had a positive operating cash flow.
1.2 Ratios
The Return On Assets of COV (-5.67%) is worse than 72.09% of its industry peers.
With a Return On Equity value of -17.83%, COV is not doing good in the industry: 81.40% of the companies in the same industry are doing better.
The Return On Invested Capital of COV (3.09%) is comparable to the rest of the industry.
COV had an Average Return On Invested Capital over the past 3 years of 2.67%. This is in line with the industry average of 3.51%.
The 3 year average ROIC (2.67%) for COV is below the current ROIC(3.09%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -5.67% | ||
| ROE | -17.83% | ||
| ROIC | 3.09% |
ROA(3y)-0.05%
ROA(5y)0.81%
ROE(3y)-0.4%
ROE(5y)2.4%
ROIC(3y)2.67%
ROIC(5y)2.67%
1.3 Margins
COV has a Operating Margin of 74.63%. This is in the better half of the industry: COV outperforms 60.47% of its industry peers.
COV's Operating Margin has improved in the last couple of years.
COV has a better Gross Margin (80.16%) than 60.47% of its industry peers.
COV's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 74.63% | ||
| PM (TTM) | N/A | ||
| GM | 80.16% |
OM growth 3Y13.27%
OM growth 5Y12.19%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.75%
GM growth 5Y1.65%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), COV is destroying value.
COV has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, COV has more shares outstanding
Compared to 1 year ago, COV has a worse debt to assets ratio.
2.2 Solvency
Based on the Altman-Z score of 0.52, we must say that COV is in the distress zone and has some risk of bankruptcy.
COV has a worse Altman-Z score (0.52) than 76.74% of its industry peers.
The Debt to FCF ratio of COV is 20.25, which is on the high side as it means it would take COV, 20.25 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of COV (20.25) is worse than 67.44% of its industry peers.
A Debt/Equity ratio of 1.21 is on the high side and indicates that COV has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.21, COV is doing worse than 88.37% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.21 | ||
| Debt/FCF | 20.25 | ||
| Altman-Z | 0.52 |
ROIC/WACC0.55
WACC5.61%
2.3 Liquidity
COV has a Current Ratio of 1.00. This is a bad value and indicates that COV is not financially healthy enough and could expect problems in meeting its short term obligations.
With a decent Current ratio value of 1.00, COV is doing good in the industry, outperforming 62.79% of the companies in the same industry.
COV has a Quick Ratio of 1.00. This is a bad value and indicates that COV is not financially healthy enough and could expect problems in meeting its short term obligations.
With a decent Quick ratio value of 0.86, COV is doing good in the industry, outperforming 62.79% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1 | ||
| Quick Ratio | 0.86 |
3. Growth
3.1 Past
COV shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -2.40%.
The Earnings Per Share has been decreasing by -2.53% on average over the past years.
The Revenue has decreased by -9.77% in the past year.
The Revenue has been decreasing by -6.88% on average over the past years.
EPS 1Y (TTM)-2.4%
EPS 3Y2.02%
EPS 5Y-2.53%
EPS Q2Q%-4.52%
Revenue 1Y (TTM)-9.77%
Revenue growth 3Y-4.28%
Revenue growth 5Y-6.88%
Sales Q2Q%-29.85%
3.2 Future
Based on estimates for the next years, COV will show a decrease in Earnings Per Share. The EPS will decrease by -2.15% on average per year.
COV is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.46% yearly.
EPS Next Y-5.64%
EPS Next 2Y-3.43%
EPS Next 3Y-2.15%
EPS Next 5YN/A
Revenue Next Year5.94%
Revenue Next 2Y5.28%
Revenue Next 3Y5.46%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is stable: in the next years the growth will be about the same than in the last years.
The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 10.38, the valuation of COV can be described as reasonable.
Based on the Price/Earnings ratio, COV is valued cheaper than 88.37% of the companies in the same industry.
When comparing the Price/Earnings ratio of COV to the average of the S&P500 Index (24.41), we can say COV is valued rather cheaply.
COV is valuated reasonably with a Price/Forward Earnings ratio of 11.00.
Compared to the rest of the industry, the Price/Forward Earnings ratio of COV is on the same level as its industry peers.
When comparing the Price/Forward Earnings ratio of COV to the average of the S&P500 Index (20.59), we can say COV is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 10.38 | ||
| Fwd PE | 11 |
4.2 Price Multiples
COV's Enterprise Value to EBITDA ratio is in line with the industry average.
Based on the Price/Free Cash Flow ratio, COV is valued a bit cheaper than 69.77% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.5 | ||
| EV/EBITDA | 17.66 |
4.3 Compensation for Growth
A cheap valuation may be justified as COV's earnings are expected to decrease with -2.15% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-3.43%
EPS Next 3Y-2.15%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 7.15%, COV is a good candidate for dividend investing.
COV's Dividend Yield is a higher than the industry average which is at 7.37.
Compared to an average S&P500 Dividend Yield of 2.30, COV pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.15% |
5.2 History
The dividend of COV decreases each year by -29.38%.
Dividend Growth(5Y)-29.38%
Div Incr Years1
Div Non Decr Years1
5.3 Sustainability
COV has negative earnings and hence a negative payout ratio. The dividend may be in danger.
The Dividend Rate of COV has been decling, while earnings will also be declining. This means the current dividend is most likely not sustainable.
DP-5.14%
EPS Next 2Y-3.43%
EPS Next 3Y-2.15%
COVIVIO
EPA:COV (7/26/2024, 7:00:00 PM)
46.38
-0.06 (-0.13%)
Chartmill FA Rating
GICS SectorReal Estate
GICS IndustryGroupEquity Real Estate Investment Trusts (REITs)
GICS IndustryDiversified REITs
Earnings (Last)
Earnings (Next)
Inst Owners
Inst Owner Change
Ins Owners
Ins Owner Change
Market Cap5.14B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 7.15% |
Dividend Growth(5Y)
DP
Div Incr Years
Div Non Decr Years
Ex-Date
Surprises & Revisions
EPS beat(2)
Avg EPS beat(2)
Min EPS beat(2)
Max EPS beat(2)
EPS beat(4)
Avg EPS beat(4)
Min EPS beat(4)
Max EPS beat(4)
EPS beat(8)
Avg EPS beat(8)
EPS beat(12)
Avg EPS beat(12)
EPS beat(16)
Avg EPS beat(16)
Revenue beat(2)
Avg Revenue beat(2)
Min Revenue beat(2)
Max Revenue beat(2)
Revenue beat(4)
Avg Revenue beat(4)
Min Revenue beat(4)
Max Revenue beat(4)
Revenue beat(8)
Avg Revenue beat(8)
Revenue beat(12)
Avg Revenue beat(12)
Revenue beat(16)
Avg Revenue beat(16)
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 | 10.38 | ||
| Fwd PE | 11 | ||
| 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)N/A
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -5.67% | ||
| ROE | -17.83% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 74.63% | ||
| PM (TTM) | N/A | ||
| GM | 80.16% | ||
| 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 Turnover0.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.21 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1 | ||
| Quick Ratio | 0.86 | ||
| 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)-2.4%
EPS 3Y2.02%
EPS 5Y
EPS Q2Q%
EPS Next Y-5.64%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-9.77%
Revenue growth 3Y-4.28%
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