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Accor

DB:ACR1
Snowflake Description

Undervalued with excellent balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ACR1
DB
€6B
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Accor SA operates a chain of hotels. It operates through three segments: HotelServices, Hotel Assets & Others, and New Businesses. The last earnings update was 45 days ago. More info.


Add to Portfolio Compare Print
  • Accor has significant price volatility in the past 3 months.
ACR1 Share Price and Events
7 Day Returns
-21.7%
DB:ACR1
-6.8%
DE Hospitality
-0.6%
DE Market
1 Year Returns
-38.1%
DB:ACR1
-48.1%
DE Hospitality
-20.9%
DE Market
ACR1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Accor (ACR1) -21.7% -24.3% -42.8% -38.1% -42% -
DE Hospitality -6.8% -31.3% -57.6% -48.1% -63.2% -70.6%
DE Market -0.6% -18.6% -26.2% -20.9% -25.8% -31.8%
1 Year Return vs Industry and Market
  • ACR1 outperformed the Hospitality industry which returned -48.1% over the past year.
  • ACR1 underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
ACR1
Industry
5yr Volatility vs Market

ACR1 Value

 Is Accor 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 Accor 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 Accor.

DB:ACR1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.2%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

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:ACR1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.78
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.782 (1 + (1- 33%) (64.15%))
1.079
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.079 * 6.07%)
6.16%

Discounted Cash Flow Calculation for DB:ACR1 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Accor 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:ACR1 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.16%)
2020 492.02 Analyst x13 463.47
2021 412.39 Analyst x12 365.92
2022 490.94 Analyst x9 410.33
2023 717.00 Analyst x1 564.50
2024 843.00 Analyst x1 625.19
2025 929.52 Est @ 10.26% 649.36
2026 995.22 Est @ 7.07% 654.91
2027 1,043.29 Est @ 4.83% 646.70
2028 1,077.35 Est @ 3.26% 629.06
2029 1,100.71 Est @ 2.17% 605.40
Present value of next 10 years cash flows €5,614.00
DB:ACR1 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €1,100.71 × (1 + -0.39%) ÷ (6.16% – -0.39%)
€16,737.87
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €16,737.87 ÷ (1 + 6.16%)10
€9,206.00
DB:ACR1 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €5,614.00 + €9,206.00
€14,820.00
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €14,820.00 / 257.87
€57.47
DB:ACR1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:ACR1 represents 0.20621x of ENXTPA:AC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.20621x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 57.47 x 0.20621
€11.85
Value per share (EUR) From above. €11.85
Current discount Discount to share price of €4.58
= -1 x (€4.58 - €11.85) / €11.85
61.4%

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

Current Discount
Amount off the current price Accor is available for.
Intrinsic value
>50%
Share price is €4.58 vs Future cash flow value of €11.85
Current Discount Checks
For Accor to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Accor's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Accor'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 Accor's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Accor's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:ACR1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €1.49
ENXTPA:AC Share Price ** ENXTPA (2020-04-03) in EUR €22.21
Germany Hospitality Industry PE Ratio Median Figure of 9 Publicly-Listed Hospitality Companies 21.1x
Germany Market PE Ratio Median Figure of 401 Publicly-Listed Companies 16.57x

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

** Primary Listing of Accor.

DB:ACR1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 22.21 ÷ 1.49

14.91x

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

  • Accor is good value based on earnings compared to the DE Hospitality industry average.
  • Accor is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Accor's expected growth come at a high price?
Raw Data
DB:ACR1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.91x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
5.7%per year
Europe Hospitality Industry PEG Ratio Median Figure of 63 Publicly-Listed Hospitality Companies 0.96x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.17x

*Line of best fit is calculated by linear regression .

DB:ACR1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.91x ÷ 5.7%

2.64x

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

  • Accor is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Accor's assets?
Raw Data
DB:ACR1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €26.49
ENXTPA:AC Share Price * ENXTPA (2020-04-03) in EUR €22.21
Germany Hospitality Industry PB Ratio Median Figure of 12 Publicly-Listed Hospitality Companies 1.73x
Germany Market PB Ratio Median Figure of 572 Publicly-Listed Companies 1.44x
DB:ACR1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 22.21 ÷ 26.49

0.84x

* Primary Listing of Accor.

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

  • Accor is good value based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess Accor'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 Hospitality 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 Hospitality industry average (and greater than 0)? (1 check)
  5. Accor has a total score of 5/6, 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.

ACR1 Future Performance

 How is Accor expected to perform in the next 1 to 3 years based on estimates from 16 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
5.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Accor expected to grow at an attractive rate?
  • Accor's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Accor's earnings growth is positive but not above the Germany market average.
  • Accor's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:ACR1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:ACR1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts 5.7%
DB:ACR1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 3.4%
Germany Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 28.9%
Germany Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 4%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.1%
Germany Market Revenue Growth Rate Market Cap Weighted Average 3.9%

*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:ACR1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:ACR1 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 4,837 2
2023-12-31 4,592 417 2
2022-12-31 4,259 717 447 10
2021-12-31 3,931 632 386 15
2020-12-31 3,494 339 269 16
2020-04-05
DB:ACR1 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 4,049 641 405
2019-09-30 4,222 576 311
2019-06-30 4,236 511 195
2019-03-31 3,923 501 75
2018-12-31 3,610 491 -46
2018-09-30 3,081 628 -8
2018-06-30 2,711 764 51
2018-03-31 2,743 872 197
2017-12-31 2,774 979 342
2017-09-30 2,348 909 309
2017-06-30 2,318 831 271
2017-03-31 1,982 670 198

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Accor's earnings are expected to grow by 5.7% yearly, however this is not considered high growth (20% yearly).
  • Accor's revenue is expected to grow by 3.4% 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:ACR1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below

All data from Accor Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ACR1 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31 1.78 2.50 0.81 9.00
2021-12-31 1.42 2.04 0.36 13.00
2020-12-31 0.90 1.50 -0.22 11.00
2020-04-05
DB:ACR1 Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 1.49
2019-09-30 1.12
2019-06-30 0.70
2019-03-31 0.26
2018-12-31 -0.16
2018-09-30 -0.03
2018-06-30 0.17
2018-03-31 0.68
2017-12-31 1.19
2017-09-30 1.10
2017-06-30 0.97
2017-03-31 0.73

*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.
  • Accor is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Accor'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.
Accor has a total score of 1/6, 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.

ACR1 Past Performance

  How has Accor 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 Accor's growth in the last year to its industry (Hospitality).
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.
  • Accor's year on year earnings growth rate has been positive over the past 5 years.
  • Accor has become profitable in the last year making the earnings growth rate difficult to compare to the 5-year average.
  • Accor has become profitable in the last year making it difficult to compare the DE Hospitality industry average.
Earnings and Revenue History
Accor'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 Accor Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ACR1 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 4,049.00 405.00
2019-09-30 4,222.00 310.50
2019-06-30 4,236.00 195.00
2019-03-31 3,923.00 74.50
2018-12-31 3,610.00 -46.00
2018-09-30 3,081.00 -8.00
2018-06-30 2,711.00 51.00
2018-03-31 2,742.50 196.50
2017-12-31 2,774.00 342.00
2017-09-30 2,348.00 309.00
2017-06-30 2,318.00 271.00
2017-03-31 1,982.00 197.50
2016-12-31 1,646.00 124.00
2016-09-30 489.50 79.00
2016-06-30 -667.00 34.00
2016-03-31 350.50 65.50
2015-12-31 1,368.00 97.00
2015-09-30 3,477.50 161.50
2015-06-30 5,587.00 226.00
2015-03-31 5,520.50 226.50
2014-12-31 5,454.00 227.00
2014-09-30 5,416.00 187.50
2014-06-30 5,378.00 148.00
2014-03-31 5,401.50 136.50
2013-12-31 5,425.00 125.00
2013-09-30 5,527.00 79.00
2013-06-30 5,572.00 33.00

*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.
  • Accor has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Accor used its assets less efficiently than the DE Hospitality industry average last year based on Return on Assets.
  • Accor's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Accor'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 Hospitality 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.
Accor has a total score of 1/6, 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.

ACR1 Health

 How is Accor'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 Accor's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Accor is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Accor's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Accor'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.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.7x 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 Accor Company Filings, last reported 3 months ago.

DB:ACR1 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 6,978.00 2,954.00 2,287.00
2019-09-30 6,978.00 2,954.00 2,287.00
2019-06-30 6,363.00 3,130.00 1,776.00
2019-03-31 6,363.00 3,130.00 1,776.00
2018-12-31 6,436.00 2,958.00 2,830.00
2018-09-30 6,436.00 2,958.00 2,830.00
2018-06-30 7,525.00 2,997.00 3,982.00
2018-03-31 7,525.00 2,997.00 3,982.00
2017-12-31 5,783.00 2,803.00 1,075.00
2017-09-30 5,826.00 3,004.00 1,075.00
2017-06-30 5,518.00 3,136.00 754.00
2017-03-31 5,518.00 3,136.00 754.00
2016-12-31 5,925.00 2,909.00 1,184.00
2016-09-30 5,925.00 2,909.00 1,184.00
2016-06-30 3,773.00 2,912.00 2,320.00
2016-03-31 3,773.00 2,912.00 2,320.00
2015-12-31 3,987.00 2,783.00 2,963.00
2015-09-30 3,987.00 2,783.00 2,963.00
2015-06-30 3,902.00 2,905.00 2,807.00
2015-03-31 3,902.00 2,905.00 2,807.00
2014-12-31 3,870.00 2,794.00 2,677.00
2014-09-30 3,870.00 2,794.00 2,677.00
2014-06-30 3,657.00 2,582.00 2,307.00
2014-03-31 3,657.00 2,582.00 2,307.00
2013-12-31 2,752.00 2,161.00 1,913.00
2013-09-30 2,756.00 2,183.00 1,928.00
2013-06-30 2,734.00 2,471.00 1,891.00
  • Accor's level of debt (42.3%) 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 (72.2% vs 42.3% today).
  • Debt is well covered by operating cash flow (21.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 9.4x coverage).
X
Financial health checks
We assess Accor'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. Accor 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.

ACR1 Dividends

 What is Accor'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
4.73%
Current annual income from Accor dividends. Estimated to be 4.95% next year.
If you bought €2,000 of Accor shares you are expected to receive €95 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?
  • Accor's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Accor's dividend is below the markets top 25% of dividend payers in Germany (4.86%).
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:ACR1 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 16 Analyst Estimates (S&P Global) See Below
Germany Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 11.3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 316 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.9%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.9%

Industry and Market average data is calculated daily.

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

DB:ACR1 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 1.85 1.00
2023-12-31 1.30 2.00
2022-12-31 1.22 11.00
2021-12-31 1.10 17.00
2020-12-31 0.95 16.00
2020-04-05
DB:ACR1 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-02-20 1.050 3.802
2019-04-30 1.050 2.755
2018-03-22 1.050 2.560
2017-04-03 1.050 2.490
2017-02-22 1.050 2.774
2016-03-30 1.000 2.754
2016-02-18 1.000 2.647
2015-04-07 0.950 2.231
2015-02-18 0.950 1.960
2014-04-29 0.800 2.185
2013-04-10 0.760 2.447
2012-05-10 0.650 2.497
2011-05-30 0.620 2.601
2010-04-01 1.050 3.354
2010-02-24 1.050 2.642

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • No dividend growth in 10 years.
Current Payout to shareholders
What portion of Accor'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 (1.5x coverage).
X
Income/ dividend checks
We assess Accor's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Accor afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Accor has a total score of 3/6, see the detailed checks below.


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

ACR1 Management

 What is the CEO of Accor'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
Sébastien Bazin
COMPENSATION €4,122,802
AGE 58
TENURE AS CEO 6.7 years
CEO Bio

Mr. Sébastien M. Bazin serves as the Vice-Chairman of the Supervisory Board of Buffalo Grill S.A. Mr. Bazin has been Acting Chairman and Chief Executive Officer of Accor S.A. since 2013 and has been its Director since January 9, 2006. Mr. Bazin has been a Director of General Electric Company since April 2016. Mr. Bazin served as Chief Executive Officer of Europe Colony Capital, a private investment firm since 1997 until 2013. Previously, Mr. Bazin was with Colony Capital, a private-equity firm, from 1997 to 2012, during which time he managed and participated in a large number of investments in the hospitality industry. Prior to that, he served as a member of the Supervisory Board of Accor S.A. since May 3, 2005. He served as Group Managing Director, Chief Executive Officer and General Manager of Immobilière Hôtelière since 1992 until 1997. He began his career in 1985 in US finance sector, becoming Vice President of M&A at PaineWebber. He serves as Chairman and Chief Executive Officer of Accor Hotels. He has been Director of Huazhu Group Limited (formerly known as, China Lodging Group) since January 2016. He served as Vice Chairman of Carrefour, a multinational French retailer. He has been Chief Executive Officer and Chairman at AccorHotels since August 27, 2013. He serves as Chairman of Théâtre du Châtelet. In 1997, he joined Colony Capital, a private-equity firm, to set up and develop its European operations. During his 15 years with the firm, he managed and participated in a large number of investments in the hospitality industry (including the acquisition of luxury hotel chains Fairmont and Raffles), the acquisition and management of hotel assets from Compagnie Générale des Eaux and Club Méditerranée, the acquisition of an equity stake in the Lucien Barrière Group, and the investment in AccorHotels. He is also Vice-Chairman of the Supervisory Board of the Gustave Roussy Foundation. He is Director at Adagio SAS. He was Legal Manager at La Tour S.à.r.l., La Tour Réseau de Soins SA and Permanence de la Clinique Carouge. He was Chairman at RSI and Colyzeo Investment Management Ltd. He was Managing Director at Sisters Soparf. He is Chairman at Bazeo Europe SAS. He was Chairman at Colony Capital SAS, Colfilm SAS, Colkirch France SAS, Data 4 SAS, Lucia Investissement SAS and ColSpa SAS. He was Director at Edenred. He was Member of Supervisory Board at ANF Immobilier (Les Ateliers du Nord de la France). He was CEO at Toulouse Cancéropole SAS and ColSpa SAS. He was Legal Manager at SC Georges V 302, Colmed and Société du Savoy à Méribel. He was Director at Banyan Tree Holdings Limited. He was Chairman at SA Château Lascombes. He was Member of the Supervisory Board at Groupe Lucien Barrière SAS. He was Managing Partner at SCI MB (anciennement Madeleine Michelis) and SCI Ranelagh. He is Legal Manager at CC Europe Invest and SARL Rohan. He is Manager Partner at Bazeo Invest SNC, SCI Nina and SCI Haute Roche. He is Director at Sisters Soparf. He was Chief Executive Officer at Colony Capital Europe. He was Chairman and CEO at Société d’Exploitation Sports & Événements SA and Holding Sports & Événements SA. He holds MA in Economics, and MBA from Sorbonne University. He holds BA at Sorbonne University in 1985.

CEO Compensation
  • Sébastien's compensation has increased in line with Accor recently becoming profitable.
  • Sébastien's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Accor management team in years:

4
Average Tenure
57.5
Average Age
  • The tenure for the Accor management team is about average.
Management Team

Sébastien Bazin

TITLE
Chairman & CEO
COMPENSATION
€4M
AGE
58
TENURE
6.7 yrs

Jean-Jacques Morin

TITLE
Deputy CEO & CFO
AGE
59
TENURE
1.3 yrs

Sébastien Valentin

TITLE
Senior Vice President
AGE
51

Carina Martin

TITLE
Vice President of Media Relations Worldwide

Steven Taylor

TITLE
Chief Marketing Officer
AGE
44
TENURE
0.9 yrs

Steven Daines

TITLE
Chief Talent & Culture Officer
TENURE
0.4 yrs

Dominique Esnault

TITLE
Global Chief Partners & Hotel Services Officer
AGE
57

Michael Issenberg

TITLE
Chief Executive Officer of Asia-Pacific
AGE
59
TENURE
12.2 yrs

Isabelle Birem

TITLE
Senior Vice President of Customer Relations & Loyalty

Cedric Gobilliard

TITLE
Senior Vice President of Global Sales and Head of Lifestyle Division
TENURE
8.3 yrs
Board of Directors Tenure

Average tenure and age of the Accor board of directors in years:

3.8
Average Tenure
53
Average Age
  • The tenure for the Accor board of directors is about average.
Board of Directors

Iris Knobloch

TITLE
Vice Chairman & Senior Independent Director
COMPENSATION
€115K
AGE
56
TENURE
3.8 yrs

Sébastien Bazin

TITLE
Chairman & CEO
COMPENSATION
€4M
AGE
58
TENURE
6.7 yrs

Henri M. E. V. d’Estaing

TITLE
Chairman
AGE
63

Sophie Gasperment

TITLE
Independent Director
COMPENSATION
€117K
AGE
55
TENURE
9.8 yrs

Isabelle Simon

TITLE
Independent Director
COMPENSATION
€106K
AGE
49
TENURE
3.8 yrs

Iliane Dumas

TITLE
Employee Representing Director
COMPENSATION
€69K
AGE
48
TENURE
5.9 yrs

Sarmad El Zok

TITLE
Non-Independent Director
COMPENSATION
€114K
AGE
51
TENURE
3.8 yrs

Aziz Fakhroo

TITLE
Non-Independent Director
COMPENSATION
€129K
AGE
42
TENURE
3.8 yrs

Jiang Qionger

TITLE
Independent Director
COMPENSATION
€77K
AGE
43
TENURE
3.8 yrs

Nicolas Sarkozy

TITLE
Independent Director
COMPENSATION
€80K
AGE
64
TENURE
3.2 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 Accor'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. Accor 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.

ACR1 News

Simply Wall St News

ACR1 Company Info

Description

Accor SA operates a chain of hotels. It operates through three segments: HotelServices, Hotel Assets & Others, and New Businesses. The company owns, operates, manages, and franchises hotels. It also provides digital solutions to independent hotel operators and restaurant owners through D-edge, ResDiary, and Adoria platforms; and hotel booking services for travels agencies and corporates through Gekko solutions. In addition, the company offers concierge services; and digital sales through VeryChic, which offers private sales with luxury and high-end partners, as well as rents private luxury homes, such as onefinestay. As of December 31, 2019, it operated 5,089 hotels with 746,504 rooms in 111 countries worldwide. The company was founded in 1967 and is headquartered in Issy-les-Moulineaux, France.

Details
Name: Accor SA
ACR1
Exchange: DB
Founded: 1967
€5,727,344,293
257,872,323
Website: http://group.accor.com/en
Address: Accor SA
82, rue Henri Farman,
CS 20077,
Issy-les-Moulineaux,
Ile-de-France, 92445,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA AC Ordinary Shares Euronext Paris FR EUR 02. Jan 1992
OTCPK ACRF.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB ACR Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
LSE 0H59 Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
SWX AC Ordinary Shares SIX Swiss Exchange CH CHF 02. Jan 1992
WBAG AC Ordinary Shares Wiener Boerse AG AT EUR 02. Jan 1992
BMV ACC N Ordinary Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1992
BATS-CHIXE ACP Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
ETLX ACC-U Ordinary Shares Eurotlx IT EUR 02. Jan 1992
OTCPK ACCY.Y SPON ADR EACH REPR 5 ORD Pink Sheets LLC US USD 16. Oct 2008
DB ACR1 SPON ADR EACH REPR 5 ORD Deutsche Boerse AG DE EUR 16. Oct 2008
Number of employees
Current staff
Staff numbers
19,254
Accor employees.
Industry
Hotels, Resorts and Cruise Lines
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/05 22:26
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/04/03
Last earnings filing: 2020/02/20
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


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.