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BNP Paribas Fortis

ENXTBR:017250539
Snowflake Description

Adequate balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
017250539
ENXTBR
€17B
Market Cap
  1. Home
  2. BE
  3. Banks
Company description

BNP Paribas Fortis SA provides various financial services in Belgium, Luxembourg, Turkey, and internationally. The last earnings update was 218 days ago. More info.


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017250539 Share Price and Events
7 Day Returns
0%
ENXTBR:017250539
1.5%
Europe Banks
4.5%
BE Market
1 Year Returns
21.3%
ENXTBR:017250539
-37.1%
Europe Banks
-25.3%
BE Market
017250539 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BNP Paribas Fortis (017250539) 0% 8.5% 14.1% 21.3% 19.5% -
Europe Banks 1.5% -19.4% -37% -37.1% -42.1% -53%
BE Market 4.5% -4.6% -25.6% -25.3% -34% -39.2%
1 Year Return vs Industry and Market
  • 017250539 outperformed the Banks industry which returned -37.1% over the past year.
  • 017250539 outperformed the Market in Belgium which returned -25.3% over the past year.
Price Volatility
017250539
Industry
5yr Volatility vs Market

017250539 Value

 Is BNP Paribas Fortis undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of BNP Paribas Fortis to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for BNP Paribas Fortis.

ENXTBR:017250539 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= €39.41 * 8.4%
€3.32
Book Value of Equity per Share Median Book Value from the past 5 years. €39.41
Discount Rate (Cost of Equity) See below 9%
Perpetual Growth Rate 10-Year BE Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTBR:017250539
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year BE Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.2%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.54
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.54 (1 + (1- 29%) (439.29%))
1.339
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.34
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.65% + (1.339 * 6.21%)
8.97%

Discounted Cash Flow Calculation for ENXTBR:017250539 using Excess Returns Model Model

The calculations below outline how an intrinsic value for BNP Paribas Fortis is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

ENXTBR:017250539 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (8.4% – 8.97%) * €39.41)
€-0.21
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= €-0.21 / (8.97% - 0.65%)
€-2.53
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= €39.41 + €-2.53
€36.88
ENXTBR:017250539 Discount to Share Price
Calculation Result
Value per share (EUR) From above. €36.88
Current discount Discount to share price of €30.80
= -1 x (€30.80 - €36.88) / €36.88
16.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price BNP Paribas Fortis is available for.
Intrinsic value
16%
Share price is €30.8 vs Future cash flow value of €36.88
Current Discount Checks
For BNP Paribas Fortis to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BNP Paribas Fortis's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • BNP Paribas Fortis's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for BNP Paribas Fortis's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BNP Paribas Fortis's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTBR:017250539 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €3.42
ENXTBR:017250539 Share Price ** ENXTBR (2020-03-31) in EUR €30.8
Europe Banks Industry PE Ratio Median Figure of 201 Publicly-Listed Banks Companies 6.85x
Belgium Market PE Ratio Median Figure of 88 Publicly-Listed Companies 13.83x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of BNP Paribas Fortis.

ENXTBR:017250539 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTBR:017250539 Share Price ÷ EPS (both in EUR)

= 30.8 ÷ 3.42

9.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BNP Paribas Fortis is overvalued based on earnings compared to the Europe Banks industry average.
  • BNP Paribas Fortis is good value based on earnings compared to the Belgium market.
Price based on expected Growth
Does BNP Paribas Fortis's expected growth come at a high price?
Raw Data
ENXTBR:017250539 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 9.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Europe Banks Industry PEG Ratio Median Figure of 122 Publicly-Listed Banks Companies 0.43x
Belgium Market PEG Ratio Median Figure of 40 Publicly-Listed Companies 1.01x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for BNP Paribas Fortis, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on BNP Paribas Fortis's assets?
Raw Data
ENXTBR:017250539 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €39.41
ENXTBR:017250539 Share Price * ENXTBR (2020-03-31) in EUR €30.8
Europe Banks Industry PB Ratio Median Figure of 213 Publicly-Listed Banks Companies 0.54x
Belgium Market PB Ratio Median Figure of 114 Publicly-Listed Companies 1.3x
ENXTBR:017250539 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTBR:017250539 Share Price ÷ Book Value per Share (both in EUR)

= 30.8 ÷ 39.41

0.78x

* Primary Listing of BNP Paribas Fortis.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BNP Paribas Fortis is overvalued based on assets compared to the Europe Banks industry average.
X
Value checks
We assess BNP Paribas Fortis's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. BNP Paribas Fortis has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

017250539 Future Performance

 How is BNP Paribas Fortis expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as BNP Paribas Fortis has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.9%
Expected Banks industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BNP Paribas Fortis expected to grow at an attractive rate?
  • Unable to compare BNP Paribas Fortis's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare BNP Paribas Fortis's earnings growth to the Belgium market average as no estimate data is available.
  • Unable to compare BNP Paribas Fortis's revenue growth to the Belgium market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
ENXTBR:017250539 Future Growth Rates Data Sources
Data Point Source Value (per year)
Europe Banks Industry Earnings Growth Rate Market Cap Weighted Average 7.9%
Europe Banks Industry Revenue Growth Rate Market Cap Weighted Average 2.9%
Belgium Market Earnings Growth Rate Market Cap Weighted Average 6.1%
Belgium Market Revenue Growth Rate Market Cap Weighted Average 0.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTBR:017250539 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTBR:017250539 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 7,637 -4,694 2,048
2019-03-31 7,655 -291 1,990
2018-12-31 7,673 4,113 1,932
2018-09-30 7,699 4,312 1,856
2018-06-30 7,725 4,514 1,779
2018-03-31 7,769 -1,844 1,838
2018-01-01 7,813 -8,202 1,897
2017-10-01 7,661 9,116 1,829
2017-06-30 7,509 26,433 1,760
2017-03-31 7,153 17,562 1,744
2016-12-31 6,796 8,690 1,727
2016-09-30 6,722 9,368 1,755

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if BNP Paribas Fortis is high growth as no earnings estimate data is available.
  • Unable to determine if BNP Paribas Fortis is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTBR:017250539 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (9 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from BNP Paribas Fortis Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:017250539 Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30
2019-03-31
2018-12-31 3.42
2018-09-30 3.28
2018-06-30
2018-03-31
2018-01-01 3.36
2017-10-01 3.24
2017-06-30
2017-03-31
2016-12-31 3.06
2016-09-30 3.11

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if BNP Paribas Fortis will efficiently use shareholders’ funds in the future without estimates of Return on Equity.

Next steps:

  1. Examine BNP Paribas Fortis's financial health to determine how well-positioned it is against times of financial stress by looking at its level of debt over time and how much cash it has left.
  2. BNP Paribas Fortis's future outlook can be gauged by looking at industry trends and market size, and determining how well-positioned the company is compared to its competitors. Take a look at other high-growth Banks companies here
  3. BNP Paribas Fortis's competitive advantages and company strategy can generally be found in its financial reports archived here.
  4. Use fundamentals to screen for another stock to analyse from our database of over 75,000 companies worldwide
X
Future performance checks
We assess BNP Paribas Fortis's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
BNP Paribas Fortis has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

017250539 Past Performance

  How has BNP Paribas Fortis performed over the past 5 years?

  • BNP Paribas Fortis's last earnings update was 218 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare BNP Paribas Fortis's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • BNP Paribas Fortis's year on year earnings growth rate has been positive over the past 5 years.
  • BNP Paribas Fortis's 1-year earnings growth exceeds its 5-year average (15.1% vs 12.1%)
  • BNP Paribas Fortis's earnings growth has exceeded the Europe Banks industry average in the past year (15.1% vs 6.8%).
Earnings and Revenue History
BNP Paribas Fortis's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from BNP Paribas Fortis Company Filings, last reported 9 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTBR:017250539 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 7,637.00 2,048.00 2,958.00
2019-03-31 7,655.00 1,990.00 2,924.50
2018-12-31 7,673.00 1,932.00 2,891.00
2018-09-30 7,699.00 1,855.50 2,897.00
2018-06-30 7,725.00 1,779.00 2,903.00
2018-03-31 7,769.00 1,838.00 2,917.00
2018-01-01 7,813.00 1,897.00 2,931.00
2017-10-01 7,661.00 1,828.50 2,866.50
2017-06-30 7,509.00 1,760.00 2,802.00
2017-03-31 7,152.50 1,743.50 2,724.00
2016-12-31 6,796.00 1,727.00 2,646.00
2016-09-30 6,721.50 1,755.00 2,622.00
2016-06-30 6,647.00 1,783.00 2,598.00
2016-03-31 6,801.00 1,679.00 2,629.00
2015-12-31 6,955.00 1,575.00 2,660.00
2015-09-30 7,020.00 1,532.50 2,706.00
2015-06-30 7,085.00 1,490.00 2,752.00
2015-03-31 6,905.00 1,368.00 2,764.50
2014-12-31 6,725.00 1,246.00 2,777.00
2014-09-30 6,342.00 916.50 2,735.50
2014-06-30 5,959.00 587.00 2,694.00
2014-03-31 5,695.50 612.00 2,613.50
2013-12-31 5,432.00 637.00 2,533.00
2013-09-30 5,340.50 511.00 3,215.00
2013-06-30 5,249.00 385.00 3,897.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • BNP Paribas Fortis has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • BNP Paribas Fortis used its assets less efficiently than the Europe Banks industry average last year based on Return on Assets.
  • Unable to establish if BNP Paribas Fortis improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess BNP Paribas Fortis's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
BNP Paribas Fortis has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

017250539 Health

 How is BNP Paribas Fortis's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of BNP Paribas Fortis's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from BNP Paribas Fortis Company Filings, last reported 9 months ago.

ENXTBR:017250539 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 27,016.00 76,035.00 67,178.00
2019-03-31 27,016.00 76,035.00 67,178.00
2018-12-31 27,380.00 61,135.00 44,661.00
2018-09-30 27,380.00 61,135.00 44,661.00
2018-06-30 28,698.00 71,920.00 55,352.00
2018-03-31 28,698.00 71,920.00 55,352.00
2018-01-01 28,139.00 62,788.00 34,607.00
2017-10-01 28,139.00 62,788.00 34,607.00
2017-06-30 27,269.00 77,506.00 53,354.00
2017-03-31 27,269.00 77,506.00 53,354.00
2016-12-31 26,534.00 67,915.00 34,157.00
2016-09-30 26,534.00 67,915.00 34,157.00
2016-06-30 24,937.00 67,822.00 46,812.00
2016-03-31 24,937.00 67,822.00 46,812.00
2015-12-31 24,047.00 57,572.00 36,894.00
2015-09-30 24,047.00 57,572.00 36,894.00
2015-06-30 24,985.00 54,706.00 44,296.00
2015-03-31 24,985.00 54,706.00 44,296.00
2014-12-31 25,395.00 51,330.00 36,142.00
2014-09-30 25,395.00 51,330.00 36,142.00
2014-06-30 24,296.00 52,131.00 40,384.00
2014-03-31 24,296.00 52,131.00 40,384.00
2013-12-31 23,468.00 51,159.00 32,336.00
2013-09-30 23,468.00 51,159.00 32,336.00
2013-06-30 22,652.00 59,791.00 45,591.00
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • BNP Paribas Fortis has an acceptable proportion of non-loan assets held.
  • BNP Paribas Fortis's liabilities are made up of primarily low risk sources of funding.
  • Loans at BNP Paribas Fortis are broadly funded by customer deposits.
  • BNP Paribas Fortis's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).
  • BNP Paribas Fortis has a low allowance for bad loans.
  • BNP Paribas Fortis has a high level of bad loans (greater than 2%).
X
Financial health checks
We assess BNP Paribas Fortis's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. BNP Paribas Fortis has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

017250539 Dividends

 What is BNP Paribas Fortis's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
10.91%
Current annual income from BNP Paribas Fortis dividends.
If you bought €2,000 of BNP Paribas Fortis shares you are expected to receive €218 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • BNP Paribas Fortis's pays a higher dividend yield than the bottom 25% of dividend payers in Belgium (2.71%).
  • BNP Paribas Fortis's dividend is above the markets top 25% of dividend payers in Belgium (5.99%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTBR:017250539 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Europe Banks Industry Average Dividend Yield Market Cap Weighted Average of 138 Stocks 8.8%
Belgium Market Average Dividend Yield Market Cap Weighted Average of 73 Stocks 4.5%
Belgium Minimum Threshold Dividend Yield 10th Percentile 1.1%
Belgium Bottom 25% Dividend Yield 25th Percentile 2.7%
Belgium Top 25% Dividend Yield 75th Percentile 6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTBR:017250539 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-16 3.360 12.352
2019-03-19 3.360 13.228
2017-09-05 0.000 0.000
2017-04-25 0.000 0.000
2017-03-14 0.000 0.000
2016-04-12 4.150 15.688
2016-03-08 4.150 15.242

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BNP Paribas Fortis has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • BNP Paribas Fortis has only been paying a dividend for 4 years, and since then dividends per share have fallen.
Current Payout to shareholders
What portion of BNP Paribas Fortis's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (1x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess BNP Paribas Fortis's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can BNP Paribas Fortis afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BNP Paribas Fortis has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

017250539 Management

 What is the CEO of BNP Paribas Fortis's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Max Jadot
COMPENSATION €41,000
AGE 62
TENURE AS CEO 9.1 years
CEO Bio

Mr. Maxime Jadot, also known as Max, serves as CEO and Chairman of the Executive Board of BNP Paribas Fortis at BNP Paribas since 2018. He served as the Head of BNP Paribas Fortis at BNP Paribas SA until 2018. Mr. Jadot has been Chairman of Executive Board and Chief Executive Officer of BNP Paribas Fortis SA/NV since March 1, 2011. He served as Head of Investment Banking and Head of Corporate & Public Banking of BNP Paribas Fortis SA/NV. He served as the Chief Executive Officer of BNP Paribas Factoring. From 1998 to 2006 Mr. Jadot was Managing Director of Corporate Finance & Capital Markets at Fortis Bank. From February 2007 to June 2009, he was Chairman of the Executive Board and Country Manager for Fortis France. Prior to Fortis joining the BNP Paribas Group, he coordinated the strategy for banking and insurance activities at Fortis in France, with a view to generating synergies between the two businesses. He started his professional career in 1983 at Generale Bank in retail banking. From 1984 to 1998, he held a series of posts as Branch Manager, Branch Network Manager, Regional Manager and Marketing Director. He headed the Brussels Central Region of Generale Bank from 1990 to 1996. He has been a Director of BGL BNP Paribas S.A., since April 5, 2012. He had been a Director of NV Bekaert SA since 1994 until 2019. He serves as a Director of Bekaert Fencing Ltd. and BNP Paribas Fortis Private Equity. He has been an Executive Director of BNP Paribas Fortis SA/NV since January 13, 2011. He served as a Director of Fortis Bank France (a/k/a Fortis Securities France SA). Mr. Jadot obtained a Bachelor of Arts (BA) degree in Law from the Facultés Universitaires Saint-Louis in Brussels in 1977, a Masters in Law from the Catholic University of Leuven in 1980 and a Masters in Comparative Law from the University of Georgetown (Washington DC, USA) in 1981.

CEO Compensation
  • Max's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Max's remuneration is lower than average for companies of similar size in Belgium.
Management Team Tenure

Average tenure and age of the BNP Paribas Fortis management team in years:

2.9
Average Tenure
55
Average Age
  • The tenure for the BNP Paribas Fortis management team is about average.
Management Team

Max Jadot

TITLE
Chairman of the Executive Board
COMPENSATION
€41K
AGE
62
TENURE
9.1 yrs

Didier Beauvois

TITLE
Head of Corporate Banking
COMPENSATION
€47K
AGE
55
TENURE
5.8 yrs

Michael Anseeuw

TITLE
Head of Retail Banking-Belgium
COMPENSATION
€33K
AGE
47
TENURE
2.3 yrs

Stéphane Vermeire

TITLE
Head of Private Banking & Wealth Management
COMPENSATION
€35K
AGE
48
TENURE
2.3 yrs

Piet Van Aken

TITLE
Chief Risk Officer
COMPENSATION
€47K
AGE
57
TENURE
4.3 yrs

Franciane Rays

TITLE
Chief Financial Officer
TENURE
2.3 yrs

Daniel Clerck

TITLE
COO, Member of the Management Board & Director

Quirijn Altes

TITLE
Managing Director of Corporate Finance & Capital Markets

Marc Camus

TITLE
Chief Information Officer
TENURE
2.3 yrs

Carine De Nys

TITLE
Chief Compliance Officer
TENURE
3.5 yrs
Board of Directors Tenure

Average tenure and age of the BNP Paribas Fortis board of directors in years:

9.3
Average Tenure
57
Average Age
  • The tenure for the BNP Paribas Fortis board of directors is about average.
Board of Directors

Herman Daems

TITLE
Chairman of the Board
COMPENSATION
€149K
AGE
73
TENURE
10.9 yrs

Max Jadot

TITLE
Chairman of the Executive Board
COMPENSATION
€41K
AGE
62
TENURE
9.3 yrs

Didier Beauvois

TITLE
Head of Corporate Banking
COMPENSATION
€47K
AGE
55
TENURE
5.8 yrs

Michael Anseeuw

TITLE
Head of Retail Banking-Belgium
COMPENSATION
€33K
AGE
47
TENURE
2.3 yrs

Stéphane Vermeire

TITLE
Head of Private Banking & Wealth Management
COMPENSATION
€35K
AGE
48
TENURE
2.3 yrs

Piet Van Aken

TITLE
Chief Risk Officer
COMPENSATION
€47K
AGE
57
TENURE
3.8 yrs

Daniel Clerck

TITLE
COO, Member of the Management Board & Director

Dirk Boogmans

TITLE
Independent Non Executive Director
COMPENSATION
€113K
AGE
64
TENURE
10.5 yrs

Thierry Varène

TITLE
Non Executive Director
COMPENSATION
€58K
AGE
67
TENURE
10.9 yrs

Sophie Dutordoir

TITLE
Independent Non Executive Director
COMPENSATION
€78K
AGE
57
TENURE
9.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess BNP Paribas Fortis's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. BNP Paribas Fortis has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

017250539 News

Simply Wall St News

What Does BNP Paribas Fortis SA/NV's (EBR:017250539) P/E Ratio Tell You?

We'll look at BNP Paribas Fortis SA/NV's (EBR:017250539) P/E ratio and reflect on what it tells us about the company's share price. … The formula for P/E is: Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS) Or for BNP Paribas Fortis: P/E of 9.19 = €31.4 ÷ €3.42 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? … The Bottom Line On BNP Paribas Fortis's P/E Ratio BNP Paribas Fortis trades on a P/E ratio of 9.2, which is below the BE market average of 14.3.

Simply Wall St -

Can These Factors Give You An Edge In BNP Paribas Fortis SA/NV (EBR:017250539)?

As these large financial institutions revert back to health after the Global Financial Crisis, we are seeing an increase in market confidence, and understanding of, these “too-big-to-fail” banking stocks. … The Basel III reforms are aimed at banking regulations to improve financial institutions’ ability to absorb shocks caused by economic stress which could expose banks to vulnerabilities. … Investors should be more cautious when it comes to financial stocks given the different type of risk to which they are exposed.

Simply Wall St -

Read This Before You Buy BNP Paribas Fortis SA/NV (EBR:017250539) Because Of Its P/E Ratio

We'll look at BNP Paribas Fortis SA/NV's (EBR:017250539) P/E ratio and reflect on what it tells us about the company's share price. … Based on the last twelve months, BNP Paribas Fortis's P/E ratio is 7.21. … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Three Important Risk Metrics For BNP Paribas Fortis SA/NV (EBR:017250539) You Should Know

As a large, commercial bank with a €15b market capitalisation, BNP Paribas Fortis SA/NV (EBR:017250539) takes on risky loans by nature of its operations and incurs credit risk. … During the GFC, large banks with risky lending portfolios exposed to the volatile credit market lost billions of dollars’ worth of shareholder equity. … Now we will analyse financial metrics focused on bad debt and liabilities in order to gain insights into BNP Paribas Fortis’s lending practices and better understand its operational risks.

Simply Wall St -

What Makes BNP Paribas Fortis SA/NV (EBR:017250539) A Hard Investment?

BNP Paribas Fortis SA/NV (EBR:017250539) is a large-cap stock operating in the financial services sector with a market cap of €15b. … As major financial institutions return to health after the Global Financial Crisis, we are seeing an increase in market confidence, and understanding of, these “too-big-to-fail” banking stocks. … Following the crisis, a set of reforms termed Basel III was enforced to bolster risk management, regulation, and supervision in the financial services industry.

Simply Wall St -

017250539 Company Info

Description

BNP Paribas Fortis SA provides various financial services in Belgium, Luxembourg, Turkey, and internationally. It accepts on-demand deposits, savings accounts, term accounts and short-term notes, and repurchase agreements; and offers personal loans, international trade and precise finance, and credit services, as well as debit and credit cards. The company also provides investment and insurance products; and transaction and investment banking, asset and cash management, currency hedging, interest and commodity risk, factoring, leasing, real estate, and securities services, as well as Internet, phone, and mobile banking services. In addition, it is involved in service vehicle leasing and professional equipment leasing activities. The company offers its products and services to private individuals, the self-employed, members of the professions, small and medium-sized enterprises, high net worth individuals, corporations, and public and financial institutions through operating a network of 747 branches, 18 bank for entrepreneur centers, 297 Fintro branded branches and 662 sales points, and 3,505 ATMs. The company was incorporated in 1934 and is based in Brussels, Belgium. BNP Paribas Fortis SA operates as a subsidiary of BNP Paribas SA.

Details
Name: BNP Paribas Fortis SA
017250539
Exchange: ENXTBR
Founded: 1934
€17,407,981,606
565,194,208
Website: http://www.bnpparibasfortis.com
Address: BNP Paribas Fortis SA
Montagne du Parc 3,
Brussels,
Brussels, 1000,
Belgium
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTBR 017250539 Registered Shares Euronext Brussels BE EUR 07. Sep 2015
Number of employees
Current staff
Staff numbers
35,966
BNP Paribas Fortis employees.
Industry
Diversified Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/08 20:46
End of day share price update: 2020/03/31 00:00
Last earnings filing: 2019/09/03
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.