COVIVIO (COV.PA)
FR0000064578 - REIT
Overall COV gets a fundamental rating of 3 out of 10. We evaluated COV against 43 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 is valued correctly, but it does not seem to be growing.
1. Profitability
1.1 Basic Checks
In the past year COV was profitable.
COV had a positive operating cash flow in the past year.
COV had positive earnings in 4 of the past 5 years.
COV had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of COV (-2.90%) is worse than 63.41% of its industry peers.
Looking at the Return On Equity, with a value of -9.06%, COV is doing worse than 68.29% of the companies in the same industry.
COV has a Return On Invested Capital (3.07%) which is comparable to the rest of the industry.
The Average Return On Invested Capital over the past 3 years for COV is in line with the industry average of 3.47%.
The 3 year average ROIC (2.67%) for COV is below the current ROIC(3.07%), indicating increased profibility in the last year.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | -2.9% | ||
| ROE | -9.06% | ||
| ROIC | 3.07% |
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 74.52%, COV is in the better half of the industry, outperforming 60.98% of the companies in the same industry.
COV's Operating Margin has improved in the last couple of years.
COV's Gross Margin of 79.59% is in line compared to the rest of the industry. COV outperforms 58.54% of its industry peers.
COV's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 74.52% | ||
| PM (TTM) | N/A | ||
| GM | 79.59% |
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.
The number of shares outstanding for COV has been increased compared to 1 year ago.
The number of shares outstanding for COV has been increased compared to 5 years ago.
The debt/assets ratio for COV is higher compared to a year ago.
2.2 Solvency
COV has an Altman-Z score of 0.57. 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 (0.57) is worse than 80.49% of its industry peers.
The Debt to FCF ratio of COV is 20.01, which is on the high side as it means it would take COV, 20.01 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of COV (20.01) is worse than 60.98% of its industry peers.
A Debt/Equity ratio of 1.24 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 1.24, COV is doing worse than 90.24% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.24 | ||
| Debt/FCF | 20.01 | ||
| Altman-Z | 0.57 |
ROIC/WACC0.55
WACC5.62%
2.3 Liquidity
COV has a Current Ratio of 1.32. This is a normal value and indicates that COV is financially healthy and should not expect problems in meeting its short term obligations.
COV has a better Current ratio (1.32) than 82.93% of its industry peers.
A Quick Ratio of 1.19 indicates that COV should not have too much problems paying its short term obligations.
With an excellent Quick ratio value of 1.19, COV belongs to the best of the industry, outperforming 80.49% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 1.32 | ||
| Quick Ratio | 1.19 |
3. Growth
3.1 Past
The earnings per share for COV have decreased by -4.81% 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.
COV shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -13.96%.
The Revenue has been decreasing by -6.88% on average over the past years.
EPS 1Y (TTM)-4.81%
EPS 3Y2.02%
EPS 5Y-2.53%
EPS Q2Q%-5.08%
Revenue 1Y (TTM)-13.96%
Revenue growth 3Y-4.28%
Revenue growth 5Y-6.88%
Sales Q2Q%1.2%
3.2 Future
COV is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -1.76% yearly.
The Revenue is expected to grow by 5.20% on average over the next years.
EPS Next Y-4.52%
EPS Next 2Y-3.26%
EPS Next 3Y-1.76%
EPS Next 5YN/A
Revenue Next Year6.09%
Revenue Next 2Y5.42%
Revenue Next 3Y5.2%
Revenue Next 5YN/A
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 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 12.36, the valuation of COV can be described as correct.
Compared to the rest of the industry, the Price/Earnings ratio of COV indicates a somewhat cheap valuation: COV is cheaper than 75.61% of the companies listed in the same industry.
COV is valuated cheaply when we compare the Price/Earnings ratio to 29.62, which is the current average of the S&P500 Index.
With a Price/Forward Earnings ratio of 12.85, COV is valued correctly.
COV's Price/Forward Earnings ratio is in line with the industry average.
Compared to an average S&P500 Price/Forward Earnings ratio of 21.22, COV is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 12.36 | ||
| Fwd PE | 12.85 |
4.2 Price Multiples
COV's Enterprise Value to EBITDA ratio is in line with the industry average.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of COV indicates a somewhat cheap valuation: COV is cheaper than 60.98% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.53 | ||
| EV/EBITDA | 18.16 |
4.3 Compensation for Growth
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-3.26%
EPS Next 3Y-1.76%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 6.20%, COV is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 7.75, 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 2.26.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.2% |
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-10.27%
EPS Next 2Y-3.26%
EPS Next 3Y-1.76%
COVIVIO
EPA:COV (9/6/2024, 7:00:00 PM)
53.75
+0.55 (+1.03%)
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 Cap5.95B
Analysts
Price Target
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 6.2% |
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 | 12.36 | ||
| Fwd PE | 12.85 | ||
| 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 | -2.9% | ||
| ROE | -9.06% | ||
| ROCE | |||
| ROIC | |||
| ROICexc | |||
| ROICexgc | |||
| OM | 74.52% | ||
| PM (TTM) | N/A | ||
| GM | 79.59% | ||
| 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 | 1.24 | ||
| Debt/FCF | |||
| Debt/EBITDA | |||
| Cap/Depr | |||
| Cap/Sales | |||
| Interest Coverage | |||
| Cash Conversion | |||
| Profit Quality | |||
| Current Ratio | 1.32 | ||
| Quick Ratio | 1.19 | ||
| 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)-4.81%
EPS 3Y2.02%
EPS 5Y
EPS Q2Q%
EPS Next Y-4.52%
EPS Next 2Y
EPS Next 3Y
EPS Next 5Y
Revenue 1Y (TTM)-13.96%
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