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Kaufman & Broad

DB:3GH
Snowflake Description

Excellent balance sheet, good value and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3GH
DB
€790M
Market Cap
  1. Home
  2. DE
  3. Consumer Durables
Company description

Kaufman & Broad S.A. operates as a property developer and builder in France. The last earnings update was 60 days ago. More info.


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3GH Share Price and Events
7 Day Returns
-0.1%
DB:3GH
-1.1%
DE Consumer Durables
0.1%
DE Market
1 Year Returns
9.7%
DB:3GH
2.9%
DE Consumer Durables
8.8%
DE Market
3GH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kaufman & Broad (3GH) -0.1% 5.7% 5.5% 9.7% 13.5% 49%
DE Consumer Durables -1.1% 3.5% 4.1% 2.9% -5.9% 11.6%
DE Market 0.1% 5.9% 15% 8.8% 14.5% 21%
1 Year Return vs Industry and Market
  • 3GH outperformed the Consumer Durables industry which returned 2.9% over the past year.
  • 3GH matched the Germany Market (8.8%) over the past year.
Price Volatility
3GH
Industry
5yr Volatility vs Market

Value

 Is Kaufman & Broad 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 Kaufman & Broad 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 Kaufman & Broad.

DB:3GH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 7 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 DB:3GH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Consumer Durables Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.815 (1 + (1- 33%) (19.09%))
0.946
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.95
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.946 * 6.65%)
6.52%

Discounted Cash Flow Calculation for DB:3GH using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Kaufman & Broad is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:3GH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.52%)
2020 90.95 Analyst x5 85.39
2021 95.24 Analyst x6 83.94
2022 98.21 Est @ 3.12% 81.26
2023 100.42 Est @ 2.25% 78.01
2024 102.07 Est @ 1.64% 74.44
2025 103.31 Est @ 1.22% 70.74
2026 104.26 Est @ 0.92% 67.02
2027 105.00 Est @ 0.71% 63.37
2028 105.60 Est @ 0.57% 59.83
2029 106.09 Est @ 0.47% 56.43
Present value of next 10 years cash flows €720.00
DB:3GH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €106.09 × (1 + 0.23%) ÷ (6.52% – 0.23%)
€1,691.10
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,691.10 ÷ (1 + 6.52%)10
€899.56
DB:3GH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €720.00 + €899.56
€1,619.56
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €1,619.56 / 21.26
€76.17
DB:3GH Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:3GH represents 0.99515x of ENXTPA:KOF
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99515x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 76.17 x 0.99515
€75.81
Value per share (EUR) From above. €75.81
Current discount Discount to share price of €36.96
= -1 x (€36.96 - €75.81) / €75.81
51.2%

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

Current Discount
Amount off the current price Kaufman & Broad is available for.
Intrinsic value
>50%
Share price is €36.96 vs Future cash flow value of €75.81
Current Discount Checks
For Kaufman & Broad to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Kaufman & Broad's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Kaufman & Broad's share price is below the future cash flow value, and 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 Kaufman & Broad's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kaufman & Broad's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:3GH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-08-31) in EUR €3.54
ENXTPA:KOF Share Price ** ENXTPA (2019-11-14) in EUR €37.14
Germany Consumer Durables Industry PE Ratio Median Figure of 8 Publicly-Listed Consumer Durables Companies 17.05x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 19.83x

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

** Primary Listing of Kaufman & Broad.

DB:3GH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:KOF Share Price ÷ EPS (both in EUR)

= 37.14 ÷ 3.54

10.5x

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

  • Kaufman & Broad is good value based on earnings compared to the DE Consumer Durables industry average.
  • Kaufman & Broad is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Kaufman & Broad's expected growth come at a high price?
Raw Data
DB:3GH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.5x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts
3.7%per year
Germany Consumer Durables Industry PEG Ratio Median Figure of 5 Publicly-Listed Consumer Durables Companies 0.97x
Germany Market PEG Ratio Median Figure of 255 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

DB:3GH PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.5x ÷ 3.7%

2.82x

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

  • Kaufman & Broad is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Kaufman & Broad's assets?
Raw Data
DB:3GH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-08-31) in EUR €11.88
ENXTPA:KOF Share Price * ENXTPA (2019-11-14) in EUR €37.14
Germany Consumer Durables Industry PB Ratio Median Figure of 12 Publicly-Listed Consumer Durables Companies 1.69x
Germany Market PB Ratio Median Figure of 577 Publicly-Listed Companies 1.83x
DB:3GH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:KOF Share Price ÷ Book Value per Share (both in EUR)

= 37.14 ÷ 11.88

3.13x

* Primary Listing of Kaufman & Broad.

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

  • Kaufman & Broad is overvalued based on assets compared to the DE Consumer Durables industry average.
X
Value checks
We assess Kaufman & Broad'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 Consumer Durables 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 Consumer Durables industry average (and greater than 0)? (1 check)
  5. Kaufman & Broad has a total score of 4/6, 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.

Future Performance

 How is Kaufman & Broad expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

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
3.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kaufman & Broad expected to grow at an attractive rate?
  • Kaufman & Broad's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Kaufman & Broad's earnings growth is positive but not above the Germany market average.
  • Kaufman & Broad's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:3GH Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:3GH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 7 Analysts 3.7%
DB:3GH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 7 Analysts 4.7%
Germany Consumer Durables Industry Earnings Growth Rate Market Cap Weighted Average 15%
Germany Consumer Durables Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 12.7%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*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
DB:3GH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:3GH Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-11-30 1,651 99 80 7
2020-11-30 1,567 82 74 7
2019-11-30 1,504 47 74 7
2019-11-14
DB:3GH Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-08-31 1,492 75
2019-05-31 1,485 78 74
2019-02-28 1,558 73
2018-11-30 1,558 145 73
2018-08-31 1,539 78
2018-05-31 1,540 140 77
2018-02-28 1,431 65
2017-11-30 1,391 107 59
2017-08-31 1,351 51
2017-05-31 1,291 102 48
2017-02-28 1,296 47
2016-11-30 1,238 79 46

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kaufman & Broad's earnings are expected to grow by 3.7% yearly, however this is not considered high growth (20% yearly).
  • Kaufman & Broad's revenue is expected to grow by 4.7% yearly, however this is not considered high growth (20% yearly).
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
DB:3GH Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 7 Analyst Estimates (S&P Global) See Below

All data from Kaufman & Broad Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3GH Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-11-30 3.68 4.48 3.05 7.00
2020-11-30 3.47 3.82 3.14 7.00
2019-11-30 3.46 3.60 3.36 7.00
2019-11-14
DB:3GH Past Financials Data
Date (Data in EUR Millions) EPS *
2019-08-31 3.54
2019-05-31 3.44
2019-02-28 3.41
2018-11-30 3.44
2018-08-31
2018-05-31 3.71
2018-02-28
2017-11-30 2.97
2017-08-31
2017-05-31 2.50
2017-02-28
2016-11-30 2.35

*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.
  • Kaufman & Broad is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Kaufman & Broad'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 Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany 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.
Kaufman & Broad has a total score of 2/6, 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.

Past Performance

  How has Kaufman & Broad performed over the past 5 years?

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 Kaufman & Broad's growth in the last year to its industry (Consumer Durables).
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.
  • Kaufman & Broad's year on year earnings growth rate has been positive over the past 5 years.
  • Kaufman & Broad's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Kaufman & Broad's 1-year earnings growth is negative, it can't be compared to the DE Consumer Durables industry average.
Earnings and Revenue History
Kaufman & Broad'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 Kaufman & Broad Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3GH Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-08-31 1,491.57 75.17 158.99
2019-05-31 1,485.12 73.70 157.27
2019-02-28 1,558.27 72.97 163.39
2018-11-30 1,558.23 72.97 162.82
2018-08-31 1,539.20 77.68 158.37
2018-05-31 1,539.99 76.74 158.52
2018-02-28 1,431.11 65.44 151.69
2017-11-30 1,390.80 59.12 151.18
2017-08-31 1,350.64 51.48 140.49
2017-05-31 1,290.88 48.04 145.91
2017-02-28 1,296.00 47.00 135.98
2016-11-30 1,238.00 46.03 134.35
2016-08-31 1,202.12 48.05 117.57
2016-05-31 1,172.64 45.92 115.01
2016-02-29 1,081.92 39.80 109.33
2015-11-30 1,063.10 39.78 109.87
2015-08-31 1,125.11 38.75 107.85
2015-05-31 1,122.03 38.71 114.38
2015-02-28 1,089.05 38.12 114.91
2014-11-30 1,083.34 37.93 116.36
2014-08-31 1,001.15 36.50 104.21
2014-05-31 1,005.97 34.74 114.43
2014-02-28 1,026.16 38.79 105.72
2013-11-30 1,025.95 40.85 109.67
2013-08-31 1,033.69 43.57 105.03
2013-05-31 1,020.58 45.64 102.93
2013-02-28 1,019.72 46.91 100.71
2012-11-30 1,030.05 47.62 100.99

*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.
  • Kaufman & Broad has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Kaufman & Broad used its assets more efficiently than the DE Consumer Durables industry average last year based on Return on Assets.
  • Kaufman & Broad's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kaufman & Broad'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 Consumer Durables 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.
Kaufman & Broad 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.

Health

 How is Kaufman & Broad's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Kaufman & Broad's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kaufman & Broad is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kaufman & Broad's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kaufman & Broad'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 7.8x debt.
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 Kaufman & Broad Company Filings, last reported 2 months ago.

DB:3GH Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-08-31 260.68 150.75 154.36
2019-05-31 247.06 149.88 204.43
2019-02-28 276.14 153.52 203.54
2018-11-30 261.76 203.36 253.36
2018-08-31 245.88 252.95 289.67
2018-05-31 241.54 252.33 276.70
2018-02-28 231.17 255.45 254.96
2017-11-30 215.44 254.16 221.07
2017-08-31 177.51 249.75 214.75
2017-05-31 171.23 248.72 189.36
2017-02-28 159.36 200.92 115.92
2016-11-30 145.77 203.20 118.11
2016-08-31 120.15 200.34 112.34
2016-05-31 116.10 199.45 100.96
2016-02-29 234.45 148.83 176.69
2015-11-30 223.92 141.67 169.36
2015-08-31 206.14 144.06 174.20
2015-05-31 213.92 143.70 170.58
2015-02-28 223.35 148.39 177.70
2014-11-30 215.62 147.92 149.99
2014-08-31 198.70 147.71 105.38
2014-05-31 195.94 146.75 102.64
2014-02-28 193.16 219.50 152.83
2013-11-30 188.20 238.30 188.26
2013-08-31 171.26 237.66 194.61
2013-05-31 167.32 235.55 194.94
2013-02-28 157.50 235.24 195.33
2012-11-30 149.11 234.99 153.76
  • Kaufman & Broad's level of debt (57.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (74.3% vs 57.8% today).
  • Debt is well covered by operating cash flow (51.6%, greater than 20% of total debt).
  • Kaufman & Broad earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Kaufman & Broad'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. Kaufman & Broad has a total score of 5/6, 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.

Dividends

 What is Kaufman & Broad'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
6.73%
Current annual income from Kaufman & Broad dividends. Estimated to be 7.05% next year.
If you bought €2,000 of Kaufman & Broad shares you are expected to receive €135 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?
  • Kaufman & Broad's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.38%).
  • Kaufman & Broad's dividend is above the markets top 25% of dividend payers in Germany (3.68%).
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
DB:3GH 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 7 Analyst Estimates (S&P Global) See Below
Germany Consumer Durables Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 334 Stocks 2.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.7%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

DB:3GH Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-11-30 2.75 7.00
2020-11-30 2.57 7.00
2019-11-30 2.54 7.00
2019-11-14
DB:3GH Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-01 2.500 7.177
2019-01-30 2.500 7.154
2018-05-03 2.100 5.430
2017-03-02 1.850 4.754
2016-09-30 0.000 0.000
2016-07-28 0.000 0.000
2016-07-12 0.000 0.000
2016-04-20 4.000 11.611
2015-04-01 1.360 4.657
2015-01-22 1.360 4.997
2014-09-30 1.360 5.439
2014-07-31 1.360 5.714
2014-07-10 1.360 5.740
2014-04-10 0.000 0.000
2014-03-06 0.000 0.000
2014-01-27 0.000 0.000
2012-10-23 2.310 13.153
2010-07-08 0.000 0.000
2010-04-14 0.000 0.000
2010-03-31 0.000 0.000
2010-01-22 0.000 0.000
2009-09-30 0.000 0.000
2009-07-30 0.000 0.000
2009-07-08 0.000 0.000
2009-04-08 0.000 0.000
2009-03-31 0.000 0.000

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

  • Kaufman & Broad has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Kaufman & Broad only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Kaufman & Broad's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Kaufman & Broad's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.7%) - 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 Kaufman & Broad afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kaufman & Broad has a total score of 4/6, see the detailed checks below.


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

Management

 What is the CEO of Kaufman & Broad'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
Nordine Hachemi
COMPENSATION €1,943,369
AGE 58
TENURE AS CEO 6.3 years
CEO Bio

Mr. Nordine Hachemi has been the Chairman of Kaufman & Broad SA since January 24, 2014 and serves as its Senior Vice President of Île-De-France. Mr. Hachemi serves as Chief Executive Officer at Chief Executive Officer. He served as the Chief Executive Officer of Sechilienne-Sidec (alternate name Albioma) from 2008 to October 29, 2011. He served as the President of Saur SAS until 2008. He served as Chief Operating Officer of Engineering International & Development at Saur SAS since February 2005. He served as a Deputy Chief Executive Officer of Saur Group. He served as the Chief Operating Officer of Engineering International & Development of Novasaur since February 2005. He served as President and Chief Executive Officer of Stereau until 2004. From 1994 to 2001, he served as Sales Manager of Bouygues Travaux Publics. In 1992, Mr. Hachemi was hired by Bouygues Construction, where he was responsible for putting together major international infrastructure projects. He worked at Transroute. Prior to joining TRANSROUTE (Caisse des Dépôts et Consignations) in 1988 to handle their sales and development operations in Hong-Kong, he began his career in 1986 at Pompes Guinard in Indonesia. In 2001, he joined SAUR and served as its Chairman. He served as the Chairman of Sechilienne-Sidec (alternate name Albioma) from 2008 to October 29, 2011. He served as a Vice Chairman of the Board of Directors/Deputy Chairman at Kaufman & Broad SA from July 1, 2013 to January 2014. He serves as a Member of the Supervisory Board at Citizen Capital Partenaires SAS. He has been Chief Executive Officer and Director of Kaufman & Broad SA since July 1, 2013. He served as a Director of Albioma until October 21, 2011. Mr. Hachemi is a graduate of ENSPM and earned an MBA from the INSEAD business school.

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

Average tenure of the Kaufman & Broad management team in years:

2.4
Average Tenure
  • The tenure for the Kaufman & Broad management team is about average.
Management Team

Nordine Hachemi

TITLE
Chairman & CEO
COMPENSATION
€2M
AGE
58
TENURE
6.3 yrs

Bruno Coche

TITLE
CFO & Senior VP of Finance
TENURE
9.9 yrs

Karine Normand

TITLE
Accounting & Consolidation Director and Director
AGE
49

William Truchy

TITLE
General Manager of Sales

Sophie Letierce

TITLE
Human Resources Director
TENURE
1.8 yrs

Christophe Duretete

TITLE
Senior Vice-President
TENURE
1.9 yrs

Marc Speisser

TITLE
Regional Senior Vice-President of Grand Est

Marc Vettraino

TITLE
Deputy Chief Executive Officer Ile-de-France Petite Couronne
TENURE
0.3 yrs

Christophe Court

TITLE
Head of Residential Property Marketing
TENURE
2.4 yrs

Thierry Bruneau

TITLE
Chief Executive Officer of Property Logistics - Commercial Property
TENURE
2.8 yrs
Board of Directors Tenure

Average tenure and age of the Kaufman & Broad board of directors in years:

4.8
Average Tenure
55.5
Average Age
  • The tenure for the Kaufman & Broad board of directors is about average.
Board of Directors

Karine Normand

TITLE
Accounting & Consolidation Director and Director
AGE
49
TENURE
1.5 yrs

Yves Gabriel

TITLE
Lead Director
COMPENSATION
€55K
AGE
68
TENURE
0.8 yrs

Nordine Hachemi

TITLE
Chairman & CEO
COMPENSATION
€2M
AGE
58
TENURE
5.8 yrs

Sophie Lombard

TITLE
Independent Director
COMPENSATION
€48K
AGE
50
TENURE
12.3 yrs

Sylvie Charles

TITLE
Independent Director
COMPENSATION
€47K
AGE
60
TENURE
7.8 yrs

Frédéric Jaques Stévenin

TITLE
Director
COMPENSATION
€13K
AGE
53
TENURE
12.3 yrs

Michel Paris

TITLE
Director
COMPENSATION
€18K
AGE
63
TENURE
4.3 yrs

Caroline Puechoultres

TITLE
Independent Director
COMPENSATION
€28K
AGE
50
TENURE
5.2 yrs

Jean-Louis Chaussade

TITLE
Independent Director
COMPENSATION
€13K
AGE
68
TENURE
2.8 yrs

Lucile Ribot

TITLE
Independent Director
COMPENSATION
€16K
AGE
53
TENURE
1.5 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 Kaufman & Broad'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. Kaufman & Broad 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.

News

Simply Wall St News

Company Info

Description

Kaufman & Broad S.A. operates as a property developer and builder in France. It develops and builds single-family homes and apartments, as well as offices, hotels, retail spaces, business premises, and logistics warehouses. The company was founded in 1968 and is headquartered in Neuilly-sur-Seine, France.

Details
Name: Kaufman & Broad S.A.
3GH
Exchange: DB
Founded: 1968
€789,638,479
21,261,133
Website: http://www.kaufmanbroad.fr
Address: Kaufman & Broad S.A.
127, avenue Charles de Gaulle,
Cedex,
Neuilly-sur-Seine,
Ile-de-France, 92207,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA KOF Ordinary Shares Euronext Paris FR EUR 08. Feb 2000
OTCPK KFMN.F Ordinary Shares Pink Sheets LLC US USD 08. Feb 2000
DB 3GH Ordinary Shares Deutsche Boerse AG DE EUR 08. Feb 2000
LSE 0F07 Ordinary Shares London Stock Exchange GB EUR 08. Feb 2000
BATS-CHIXE KOFP Ordinary Shares BATS 'Chi-X Europe' GB EUR 08. Feb 2000
Number of employees
Current staff
Staff numbers
881
Kaufman & Broad employees.
Industry
Homebuilding
Consumer Durables
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/14 21:11
End of day share price update: 2019/11/14 00:00
Last estimates confirmation: 2019/11/04
Last earnings filing: 2019/09/15
Last earnings reported: 2019/08/31
Last annual earnings reported: 2018/11/30


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.