Financials Accor

Equities

AC

FR0000120404

Hotels, Motels & Cruise Lines

Market Closed - Euronext Paris 09:05:22 15/07/2024 pm IST 5-day change 1st Jan Change
39.58 EUR +0.18% Intraday chart for Accor +2.41% +14.39%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 11,118 7,621 7,346 6,005 9,000 9,452 - -
Enterprise Value (EV) 1 12,452 8,967 9,190 7,663 11,074 11,331 11,466 11,397
P/E ratio 26.9 x -3.84 x 150 x 16.8 x 15.6 x 17.4 x 15.4 x 13.9 x
Yield 2.51% - - 3.04% 3.03% 3.2% 3.47% 3.93%
Capitalization / Revenue 2.75 x 4.7 x 3.33 x 1.42 x 1.78 x 1.75 x 1.66 x 1.57 x
EV / Revenue 3.08 x 5.53 x 4.17 x 1.81 x 2.19 x 2.09 x 2.02 x 1.9 x
EV / EBITDA 15.1 x -22.9 x 418 x 11.4 x 11 x 10.2 x 9.5 x 8.69 x
EV / FCF 38.7 x -14.1 x -15.6 x 19.2 x 27.8 x 17.7 x 17.2 x 16 x
FCF Yield 2.59% -7.11% -6.4% 5.22% 3.59% 5.64% 5.81% 6.24%
Price to Book 1.66 x 1.89 x 1.82 x 1.41 x 2.26 x 2.27 x 2.15 x 2.07 x
Nbr of stocks (in thousands) 2,66,308 2,57,469 2,58,225 2,57,174 2,60,110 2,38,802 - -
Reference price 2 41.75 29.60 28.45 23.35 34.60 39.58 39.58 39.58
Announcement Date 20/02/20 24/02/21 24/02/22 23/02/23 22/02/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 4,049 1,621 2,204 4,224 5,056 5,411 5,685 6,003
EBITDA 1 825 -391 22 675 1,003 1,110 1,207 1,312
EBIT 1 497 -665 -228 447 723 826.7 913.6 1,008
Operating Margin 12.27% -41.02% -10.34% 10.58% 14.3% 15.28% 16.07% 16.79%
Earnings before Tax (EBT) 1 603 -2,309 -56 459 679 780.9 880.2 980.2
Net income 1 464 -1,988 85 402 633 584.1 647.8 706.9
Net margin 11.46% -122.64% 3.86% 9.52% 12.52% 10.79% 11.39% 11.77%
EPS 2 1.550 -7.710 0.1900 1.390 2.220 2.271 2.563 2.856
Free Cash Flow 1 322 -638 -588 400 398 639.4 666.6 711.5
FCF margin 7.95% -39.36% -26.68% 9.47% 7.87% 11.82% 11.72% 11.85%
FCF Conversion (EBITDA) 39.03% - - 59.26% 39.68% 57.6% 55.23% 54.24%
FCF Conversion (Net income) 69.4% - - 99.5% 62.88% 109.46% 102.9% 100.66%
Dividend per Share 2 1.050 - - 0.7100 1.050 1.268 1.372 1.554
Announcement Date 20/02/20 24/02/21 24/02/22 23/02/23 22/02/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q3 2021 Q4 2021 S2 2022 Q1 2022 S1 2022 Q3 2022 S2 2023 S1 2023 S2 2024 Q1 2024 S1 2024 S2
Net sales 1 2,123 917 704 824 589 611 1,200 701 1,725 1,149 2,499 2,402 2,654 1,197 2,569 -
EBITDA 450 -227 -164 -120 - - 142 - 205 - 470 447 556 - 493.4 603.6
EBIT 263 -363 -302 -239 - - 11 - 99 - 348 316 407 - - -
Operating Margin 12.39% -39.59% -42.9% -29% - - 0.92% - 5.74% - 13.93% 13.16% 15.34% - - -
Earnings before Tax (EBT) 427 - - - - - - - - - - 306 - - - -
Net income 323 - -476 - - - - - - - 370 248 - - - -
Net margin 15.21% - -67.61% - - - - - - - 14.81% 10.32% - - - -
EPS 1.170 - - - - - - - - - - 0.8100 - - - -
Dividend per Share 1.050 - - - - - - - - - - - - - - -
Announcement Date 20/02/20 04/08/20 24/02/21 29/07/21 27/10/21 24/02/22 24/02/22 28/04/22 28/07/22 26/10/22 23/02/23 27/07/23 22/02/24 - - -
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,334 1,346 1,844 1,658 2,074 1,879 2,014 1,945
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.617 x -3.442 x 83.82 x 2.456 x 2.068 x 1.693 x 1.669 x 1.483 x
Free Cash Flow 1 322 -638 -588 400 398 639 667 712
ROE (net income / shareholders' equity) 7.05% -36.4% -13% 8.61% 15.8% 12.9% 13.9% 14.8%
ROA (Net income/ Total Assets) 3.45% -16.2% -5.15% 3.58% 5.53% 5.3% 5.93% 6.32%
Assets 1 13,438 12,241 -1,652 11,242 11,445 11,017 10,917 11,192
Book Value Per Share 2 25.20 15.70 15.60 16.60 15.30 17.50 18.40 19.10
Cash Flow per Share 2 2.350 -1.770 -0.8900 1.940 2.520 3.520 3.900 4.430
Capex 1 319 175 354 343 478 255 268 287
Capex / Sales 7.88% 10.8% 16.06% 8.12% 9.45% 4.72% 4.71% 4.77%
Announcement Date 20/02/20 24/02/21 24/02/22 23/02/23 22/02/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
18
Last Close Price
39.58 EUR
Average target price
47.51 EUR
Spread / Average Target
+20.02%
Consensus

Quarterly revenue - Rate of surprise