COVIVIO (COV.PA)

FR0000064578 - REIT

47.68  +0.22 (+0.46%)

Fundamental Rating

3

Overall COV gets a fundamental rating of 3 out of 10. We evaluated COV against 45 industry peers in the Diversified REITs industry. COV has a medium profitability rating, but doesn't score so well on its financial health evaluation. COV is valued correctly, but it does not seem to be growing.



5

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.
COV had a positive operating cash flow in each of the past 5 years.

1.2 Ratios

COV has a Return On Assets of -5.67%. This is in the lower half of the industry: COV underperforms 72.09% of its industry peers.
COV has a worse Return On Equity (-17.83%) than 81.40% of its industry peers.
COV has a Return On Invested Capital (3.09%) which is in line with its industry peers.
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 3.50%.
The 3 year average ROIC (2.67%) for COV is below the current ROIC(3.09%), indicating increased profibility in the last year.
Industry RankSector 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

Looking at the Operating Margin, with a value of 74.63%, COV is in the better half of the industry, outperforming 62.79% of the companies in the same industry.
COV's Operating Margin has improved in the last couple of years.
COV has a Gross Margin of 80.16%. This is in the better half of the industry: COV outperforms 60.47% of its industry peers.
COV's Gross Margin has improved in the last couple of years.
Industry RankSector 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%

1

2. Health

2.1 Basic Checks

COV has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it 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

COV has an Altman-Z score of 0.51. This is a bad value and indicates that COV is not financially healthy and even has some risk of bankruptcy.
The Altman-Z score of COV (0.51) is worse than 76.74% of its industry peers.
COV has a debt to FCF ratio of 20.25. This is a negative value and a sign of low solvency as COV would need 20.25 years to pay back of all of its debts.
COV has a Debt to FCF ratio of 20.25. This is in the lower half of the industry: COV underperforms 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 86.05% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.21
Debt/FCF 20.25
Altman-Z 0.51
ROIC/WACC0.57
WACC5.43%

2.3 Liquidity

A Current Ratio of 1.00 indicates that COV may have some problems paying its short term obligations.
COV has a better Current ratio (1.00) than 65.12% of its industry peers.
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.
The Quick ratio of COV (0.86) is better than 65.12% of its industry peers.
Industry RankSector Rank
Current Ratio 1
Quick Ratio 0.86

2

3. Growth

3.1 Past

The earnings per share for COV have decreased by -2.40% in the last year.
COV shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -2.53% yearly.
Looking at the last year, COV shows a decrease in Revenue. The Revenue has decreased by -9.77% in the last 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 -2.33% on average per year.
The Revenue is expected to grow by 4.42% on average over the next years.
EPS Next Y-5.64%
EPS Next 2Y-3.43%
EPS Next 3Y-2.33%
EPS Next 5YN/A
Revenue Next Year5.94%
Revenue Next 2Y5.28%
Revenue Next 3Y4.42%
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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.

5

4. Valuation

4.1 Price/Earnings Ratio

Based on the Price/Earnings ratio of 10.67, the valuation of COV can be described as reasonable.
Compared to the rest of the industry, the Price/Earnings ratio of COV indicates a rather cheap valuation: COV is cheaper than 86.05% of the companies listed in the same industry.
The average S&P500 Price/Earnings ratio is at 27.82. COV is valued rather cheaply when compared to this.
The Price/Forward Earnings ratio is 11.30, which indicates a very decent valuation of COV.
The rest of the industry has a similar Price/Forward Earnings ratio as COV.
The average S&P500 Price/Forward Earnings ratio is at 19.80. COV is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 10.67
Fwd PE 11.3

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of COV is on the same level as its industry peers.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of COV indicates a somewhat cheap valuation: COV is cheaper than 74.42% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 9.17
EV/EBITDA 17.41

4.3 Compensation for Growth

COV's earnings are expected to decrease with -2.33% in the coming years. This may justify a cheaper valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-3.43%
EPS Next 3Y-2.33%

4

5. Dividend

5.1 Amount

COV has a Yearly Dividend Yield of 6.67%, which is a nice return.
Compared to an average industry Dividend Yield of 7.22, COV pays a bit more dividend than its industry peers.
COV's Dividend Yield is rather good when compared to the S&P500 average which is at 2.37.
Industry RankSector Rank
Dividend Yield 6.67%

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

The earnings of COV are negative and hence is the payout ratio. COV will probably not be able to sustain this dividend level.
COV's earnings and Dividend Rate are declining. This means the current dividend is most likely not sustainable.
DP-5.14%
EPS Next 2Y-3.43%
EPS Next 3Y-2.33%

COVIVIO

EPA:COV (5/30/2024, 5:29:52 PM)

47.68

+0.22 (+0.46%)

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 Cap4.96B
Analysts
Price Target
Dividend
Industry RankSector Rank
Dividend Yield 6.67%
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 RankSector Rank
PE 10.67
Fwd PE 11.3
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 RankSector 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 RankSector 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