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ACCOR SA (AC.PA) Stock Fundamental Analysis

EPA:AC - Euronext Paris - Matif - FR0000120404 - Common Stock - Currency: EUR

49.35  +0.26 (+0.53%)

Fundamental Rating

4

Overall AC gets a fundamental rating of 4 out of 10. We evaluated AC against 53 industry peers in the Hotels, Restaurants & Leisure industry. While AC is still in line with the averages on profitability rating, there are concerns on its financial health. AC is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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5

1. Profitability

1.1 Basic Checks

AC had positive earnings in the past year.
In the past year AC had a positive cash flow from operations.
AC had positive earnings in 4 of the past 5 years.
In multiple years AC reported negative operating cash flow during the last 5 years.
AC.PA Yearly Net Income VS EBIT VS OCF VS FCFAC.PA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B -1B 2B -2B

1.2 Ratios

AC's Return On Assets of 5.19% is in line compared to the rest of the industry. AC outperforms 57.78% of its industry peers.
With a decent Return On Equity value of 13.32%, AC is doing good in the industry, outperforming 71.11% of the companies in the same industry.
The Return On Invested Capital of AC (7.33%) is comparable to the rest of the industry.
Industry RankSector 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
AC.PA Yearly ROA, ROE, ROICAC.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 -20 -40

1.3 Margins

The Profit Margin of AC (11.20%) is better than 66.67% of its industry peers.
AC's Profit Margin has declined in the last couple of years.
AC has a better Operating Margin (14.11%) than 64.44% of its industry peers.
AC's Operating Margin has been stable in the last couple of years.
AC's Gross Margin of 97.43% is amongst the best of the industry. AC outperforms 97.78% of its industry peers.
AC's Gross Margin has been stable in the last couple of years.
Industry RankSector 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%
AC.PA Yearly Profit, Operating, Gross MarginsAC.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50 -50 -100

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2

2. Health

2.1 Basic Checks

AC has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
The number of shares outstanding for AC has been reduced compared to 1 year ago.
Compared to 5 years ago, AC has less shares outstanding
AC has a worse debt/assets ratio than last year.
AC.PA Yearly Shares OutstandingAC.PA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 50M 100M 150M 200M 250M
AC.PA Yearly Total Debt VS Total AssetsAC.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B 10B

2.2 Solvency

AC has an Altman-Z score of 1.72. This is a bad value and indicates that AC is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.72, AC is in line with its industry, outperforming 53.33% of the companies in the same industry.
The Debt to FCF ratio of AC is 10.36, which is on the high side as it means it would take AC, 10.36 years of fcf income to pay off all of its debts.
AC's Debt to FCF ratio of 10.36 is on the low side compared to the rest of the industry. AC is outperformed by 64.44% of its industry peers.
A Debt/Equity ratio of 0.82 indicates that AC is somewhat dependend on debt financing.
AC has a Debt to Equity ratio (0.82) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.82
Debt/FCF 10.36
Altman-Z 1.72
ROIC/WACC1.17
WACC6.25%
AC.PA Yearly LT Debt VS Equity VS FCFAC.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2B -2B 4B 6B

2.3 Liquidity

A Current Ratio of 0.96 indicates that AC may have some problems paying its short term obligations.
The Current ratio of AC (0.96) is comparable to the rest of the 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.
AC has a Quick ratio of 0.95. This is comparable to the rest of the industry: AC outperforms 51.11% of its industry peers.
Industry RankSector Rank
Current Ratio 0.96
Quick Ratio 0.95
AC.PA Yearly Current Assets VS Current LiabilitesAC.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

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5

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.
Measured over the past years, AC shows a quite strong growth in Revenue. The Revenue has been growing by 9.03% on average per year.
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

The Earnings Per Share is expected to grow by 17.84% on average over the next years. This is quite good.
AC is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 7.14% yearly.
EPS Next Y23.72%
EPS Next 2Y17.46%
EPS Next 3Y15.97%
EPS Next 5Y17.84%
Revenue Next Year7.95%
Revenue Next 2Y6.72%
Revenue Next 3Y6.44%
Revenue Next 5Y7.14%

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.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
AC.PA Yearly Revenue VS EstimatesAC.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 2B 4B 6B 8B
AC.PA Yearly EPS VS EstimatesAC.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2016 2018 2020 2022 2024 2026 2028 2030 2032 0 2 -2 4 -4 6

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3

4. Valuation

4.1 Price/Earnings Ratio

AC is valuated quite expensively with a Price/Earnings ratio of 26.53.
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 28.47, AC is valued at the same level.
AC is valuated rather expensively with a Price/Forward Earnings ratio of 19.23.
Compared to the rest of the industry, the Price/Forward Earnings ratio of AC indicates a somewhat cheap valuation: AC is cheaper than 64.44% of the companies listed in the same industry.
AC is valuated cheaply when we compare the Price/Forward Earnings ratio to 92.74, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 26.53
Fwd PE 19.23
AC.PA Price Earnings VS Forward Price EarningsAC.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

71.11% of the companies in the same industry are cheaper than AC, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 32.33
EV/EBITDA N/A
AC.PA Per share dataAC.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15 20

4.3 Compensation for Growth

AC's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
A more expensive valuation may be justified as AC's earnings are expected to grow with 15.97% in the coming years.
PEG (NY)1.12
PEG (5Y)3.91
EPS Next 2Y17.46%
EPS Next 3Y15.97%

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 2.38%, AC has a reasonable but not impressive dividend return.
AC's Dividend Yield is a higher than the industry average which is at 2.78.
AC's Dividend Yield is comparable with the S&P500 average which is at 2.28.
Industry RankSector Rank
Dividend Yield 2.38%

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
AC.PA Yearly Dividends per shareAC.PA Yearly Dividends per shareYearly Dividends per share 2019 2023 2024 0.2 0.4 0.6 0.8 1

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 2Y17.46%
EPS Next 3Y15.97%
AC.PA Yearly Income VS Free CF VS DividendAC.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 1B -1B 2B -2B
AC.PA Dividend Payout.AC.PA Dividend Payout, showing the Payout Ratio.AC.PA Dividend Payout.PayoutRetained Earnings

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ACCOR SA

EPA:AC (2/4/2025, 7:00:00 PM)

49.35

+0.26 (+0.53%)

Chartmill FA Rating
GICS SectorConsumer Discretionary
GICS IndustryGroupConsumer Services
GICS IndustryHotels, Restaurants & Leisure
Earnings (Last)10-25 2024-10-25
Earnings (Next)02-20 2025-02-20/amc
Inst Owners67.72%
Inst Owner ChangeN/A
Ins Owners0.21%
Ins Owner ChangeN/A
Market Cap12.03B
Analysts82.4
Price Target52.9 (7.19%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.38%
Yearly Dividend1.09
Dividend Growth(5Y)0.38%
DP48.58%
Div Incr Years1
Div Non Decr Years1
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)3.84%
PT rev (3m)7.71%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.09%
EPS NY rev (3m)0.09%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.02%
Revenue NY rev (3m)0.02%
Valuation
Industry RankSector Rank
PE 26.53
Fwd PE 19.23
P/S 2.26
P/FCF 32.33
P/OCF 16.5
P/B 2.68
P/tB N/A
EV/EBITDA N/A
EPS(TTM)1.86
EY3.77%
EPS(NY)2.57
Fwd EY5.2%
FCF(TTM)1.53
FCFY3.09%
OCF(TTM)2.99
OCFY6.06%
SpS21.88
BVpS18.4
TBVpS-4.22
PEG (NY)1.12
PEG (5Y)3.91
Profitability
Industry RankSector Rank
ROA 5.19%
ROE 13.32%
ROCE 8.71%
ROIC 7.33%
ROICexc 8.3%
ROICexgc 26.34%
OM 14.11%
PM (TTM) 11.2%
GM 97.43%
FCFM 6.98%
ROA(3y)2.94%
ROA(5y)-1.46%
ROE(3y)6.77%
ROE(5y)-4.57%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5Y17.62%
ROICexc growth 3YN/A
ROICexc growth 5Y9.31%
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%
F-Score6
Asset Turnover0.46
Health
Industry RankSector Rank
Debt/Equity 0.82
Debt/FCF 10.36
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 6.7%
Interest Coverage 18.34
Cash Conversion N/A
Profit Quality 62.31%
Current Ratio 0.96
Quick Ratio 0.95
Altman-Z 1.72
F-Score6
WACC6.25%
ROIC/WACC1.17
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)3.76%
Cap/Sales(5y)5.99%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-6.15%
EPS 3YN/A
EPS 5Y6.78%
EPS Q2Q%11.11%
EPS Next Y23.72%
EPS Next 2Y17.46%
EPS Next 3Y15.97%
EPS Next 5Y17.84%
Revenue 1Y (TTM)8.77%
Revenue growth 3Y46.11%
Revenue growth 5Y9.03%
Sales Q2Q%11.54%
Revenue Next Year7.95%
Revenue Next 2Y6.72%
Revenue Next 3Y6.44%
Revenue Next 5Y7.14%
EBIT growth 1Y13.25%
EBIT growth 3YN/A
EBIT growth 5Y7.44%
EBIT Next Year52.84%
EBIT Next 3Y21.82%
EBIT Next 5Y16.34%
FCF growth 1Y44.75%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y600.96%
OCF growth 3YN/A
OCF growth 5Y2.3%