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Pierre et Vacances

DB:PV6
Snowflake Description

Reasonable growth potential and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PV6
DB
€97M
Market Cap
  1. Home
  2. DE
  3. Consumer Services
Company description

Pierre et Vacances SA, through its subsidiaries, engages in the holiday accommodation and holiday property investment activities. The last earnings update was 93 days ago. More info.


Add to Portfolio Compare Print
  • Pierre et Vacances has significant price volatility in the past 3 months.
PV6 Share Price and Events
7 Day Returns
-14.2%
DB:PV6
-6.8%
DE Hospitality
-0.6%
DE Market
1 Year Returns
-37.7%
DB:PV6
-48.1%
DE Hospitality
-20.9%
DE Market
PV6 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Pierre et Vacances (PV6) -14.2% -47.5% -47.9% -37.7% -76.3% -64.7%
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
  • PV6 outperformed the Hospitality industry which returned -48.1% over the past year.
  • PV6 underperformed the Market in Germany which returned -20.9% over the past year.
Price Volatility
PV6
Industry
5yr Volatility vs Market
Related Companies

PV6 Value

 Is Pierre et Vacances 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 Pierre et Vacances 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 Pierre et Vacances.

DB:PV6 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.8%
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:PV6
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%) (352.81%))
2.093
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
2
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (2 * 6.07%)
11.75%

Discounted Cash Flow Calculation for DB:PV6 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Pierre et Vacances 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:PV6 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 11.75%)
2020 -5.40 Analyst x2 -4.83
2021 32.85 Analyst x2 26.31
2022 43.50 Analyst x1 31.17
2023 51.27 Est @ 17.86% 32.87
2024 57.62 Est @ 12.38% 33.06
2025 62.55 Est @ 8.55% 32.12
2026 66.22 Est @ 5.87% 30.43
2027 68.86 Est @ 3.99% 28.31
2028 70.70 Est @ 2.68% 26.01
2029 71.95 Est @ 1.76% 23.69
Present value of next 10 years cash flows €259.00
DB:PV6 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €71.95 × (1 + -0.39%) ÷ (11.75% – -0.39%)
€590.33
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €590.33 ÷ (1 + 11.75%)10
€194.37
DB:PV6 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €259.00 + €194.37
€453.37
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €453.37 / 9.54
€47.51
DB:PV6 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:PV6 represents 1.00981x of ENXTPA:VAC
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
1.00981x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 47.51 x 1.00981
€47.98
Value per share (EUR) From above. €47.98
Current discount Discount to share price of €10.30
= -1 x (€10.30 - €47.98) / €47.98
78.5%

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

Current Discount
Amount off the current price Pierre et Vacances is available for.
Intrinsic value
>50%
Share price is €10.3 vs Future cash flow value of €47.98
Current Discount Checks
For Pierre et Vacances to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Pierre et Vacances's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Pierre et Vacances'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 Pierre et Vacances's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Pierre et Vacances's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:PV6 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in EUR €-3.46
ENXTPA:VAC Share Price ** ENXTPA (2020-04-03) in EUR €10.2
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 Pierre et Vacances.

DB:PV6 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 10.2 ÷ -3.46

-2.95x

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

  • Pierre et Vacances is loss making, we can't compare its value to the DE Hospitality industry average.
  • Pierre et Vacances is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Pierre et Vacances's expected growth come at a high price?
Raw Data
DB:PV6 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -2.95x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
93.1%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 .

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

  • Unable to calculate PEG ratio for Pierre et Vacances, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Pierre et Vacances's assets?
Raw Data
DB:PV6 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in EUR €26.37
ENXTPA:VAC Share Price * ENXTPA (2020-04-03) in EUR €10.2
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:PV6 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 10.2 ÷ 26.37

0.39x

* Primary Listing of Pierre et Vacances.

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

  • Pierre et Vacances is good value based on assets compared to the DE Hospitality industry average.
X
Value checks
We assess Pierre et Vacances'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. Pierre et Vacances has a total score of 3/6, 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.

PV6 Future Performance

 How is Pierre et Vacances expected to perform in the next 1 to 3 years based on estimates from 5 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
93.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Pierre et Vacances expected to grow at an attractive rate?
  • Pierre et Vacances's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Pierre et Vacances's earnings growth is expected to exceed the Germany market average.
  • Pierre et Vacances's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:PV6 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:PV6 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 93.1%
DB:PV6 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 4.7%
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:PV6 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:PV6 Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-09-30 1,836 105 45 2
2021-09-30 1,789 91 29 3
2020-09-30 1,688 65 7 5
2020-04-05
DB:PV6 Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-09-30 1,595 61 -33
2019-06-30 1,561 53 -48
2019-03-31 1,528 46 -64
2018-12-31 1,481 25 -55
2018-09-30 1,435 5 -46
2018-06-30 1,444 -21 -45
2018-03-31 1,453 -47 -43
2017-12-31 1,439 -5 -50
2017-09-30 1,425 37 -57
2017-06-30 1,413 59 -53
2017-03-31 1,400 81 -49
2016-12-31 1,386 62 -28

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Pierre et Vacances's earnings are expected to grow significantly at over 20% yearly.
  • Pierre et Vacances'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:PV6 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (6 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Pierre et Vacances Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PV6 Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-09-30 4.72 4.72 4.72 2.00
2021-09-30 3.08 4.04 2.12 3.00
2020-09-30 -0.86 0.82 -2.58 4.00
2020-04-05
DB:PV6 Past Financials Data
Date (Data in EUR Millions) EPS *
2019-09-30 -3.46
2019-06-30 -5.07
2019-03-31 -6.66
2018-12-31 -5.74
2018-09-30 -4.83
2018-06-30 -4.69
2018-03-31 -4.54
2017-12-31 -5.25
2017-09-30 -5.95
2017-06-30 -5.52
2017-03-31 -5.09
2016-12-31 -3.02

*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.
  • Pierre et Vacances is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Pierre et Vacances'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.
Pierre et Vacances has a total score of 4/6, 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.

PV6 Past Performance

  How has Pierre et Vacances 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 Pierre et Vacances'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.
  • Pierre et Vacances does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Pierre et Vacances's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Pierre et Vacances's 1-year growth to the DE Hospitality industry average as it is not currently profitable.
Earnings and Revenue History
Pierre et Vacances'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 Pierre et Vacances Company Filings, last reported 6 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:PV6 Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 1,594.97 -33.02
2019-06-30 1,561.38 -48.32
2019-03-31 1,527.79 -63.52
2018-12-31 1,481.26 -54.73
2018-09-30 1,434.73 -46.04
2018-06-30 1,443.64 -44.68
2018-03-31 1,452.55 -43.33
2017-12-31 1,438.93 -50.03
2017-09-30 1,425.31 -56.73
2017-06-30 1,412.66 -52.62
2017-03-31 1,400.00 -48.51
2016-12-31 1,386.31 -27.97
2016-09-30 1,372.62 -7.43
2016-06-30 1,341.44 -3.19
2016-03-31 1,310.25 1.06
2015-12-31 1,346.36 -5.24
2015-09-30 1,382.46 -11.54
2015-06-30 1,419.46 -5.93
2015-03-31 1,456.45 -0.33
2014-12-31 1,417.50 -11.86
2014-09-30 1,378.54 -23.39
2014-06-30 1,355.74 -28.29
2014-03-31 1,332.94 -33.19
2013-12-31 1,319.82 -40.40
2013-09-30 1,306.69 -47.61
2013-06-30 1,292.13 -59.25

*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.
  • It is difficult to establish if Pierre et Vacances has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Pierre et Vacances has efficiently used its assets last year compared to the DE Hospitality industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Pierre et Vacances improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Pierre et Vacances'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.
Pierre et Vacances has a total score of 0/6, 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.

PV6 Health

 How is Pierre et Vacances'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 Pierre et Vacances's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Pierre et Vacances's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Pierre et Vacances's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Pierre et Vacances'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 3.4x 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 Pierre et Vacances Company Filings, last reported 6 months ago.

DB:PV6 Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 251.45 245.51 114.81
2019-06-30 251.45 245.51 114.81
2019-03-31 165.69 296.83 141.19
2018-12-31 165.69 296.83 141.19
2018-09-30 285.81 263.15 116.23
2018-06-30 285.81 263.15 116.23
2018-03-31 224.62 264.56 45.11
2017-12-31 224.62 264.56 45.11
2017-09-30 326.88 191.80 86.84
2017-06-30 326.88 191.80 86.84
2017-03-31 263.39 200.81 51.92
2016-12-31 263.39 200.81 51.92
2016-09-30 378.92 188.68 88.55
2016-06-30 378.92 188.68 88.55
2016-03-31 311.29 222.57 44.71
2015-12-31 311.29 222.57 44.71
2015-09-30 364.17 161.70 40.80
2015-06-30 364.17 161.70 40.80
2015-03-31 286.43 291.96 60.12
2014-12-31 286.43 291.96 60.12
2014-09-30 374.31 203.31 36.90
2014-06-30 374.31 203.31 36.90
2014-03-31 284.86 307.64 47.03
2013-12-31 284.86 307.64 47.03
2013-09-30 396.94 221.06 54.30
2013-06-30 396.94 221.06 54.30
  • Pierre et Vacances's level of debt (97.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (54.7% vs 97.6% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Pierre et Vacances has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Pierre et Vacances has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 19.4% per year.
X
Financial health checks
We assess Pierre et Vacances'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. Pierre et Vacances has a total score of 3/6, 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.

PV6 Dividends

 What is Pierre et Vacances'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
0%
Current annual income from Pierre et Vacances dividends. Estimated to be 0.92% next year.
If you bought €2,000 of Pierre et Vacances shares you are expected to receive €0 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?
  • Unable to evaluate Pierre et Vacances's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Pierre et Vacances's dividend against the top 25% market benchmark as the company has not reported any payouts.
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:PV6 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 5 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:PV6 Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-09-30 0.00 1.00
2021-09-30 0.32 2.00
2020-09-30 0.00 4.00
2020-04-05
DB:PV6 Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2013-12-04 0.000 0.000
2013-05-31 0.000 0.000
2013-05-29 0.000 0.000
2013-01-23 0.000 0.000
2012-01-13 0.700 4.250
2011-12-01 0.700 2.897
2011-01-24 0.700 1.593
2010-12-02 0.700 1.162
2010-01-13 1.500 2.830
2009-12-03 1.500 2.680

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

  • Unable to perform a dividend volatility check as Pierre et Vacances has not reported any payouts.
  • Unable to verify if Pierre et Vacances's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Pierre et Vacances's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Pierre et Vacances has not reported any payouts.
Future Payout to shareholders
  • Dividends after 3 years are expected to be thoroughly covered by earnings (5555.6x coverage).
X
Income/ dividend checks
We assess Pierre et Vacances'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 Pierre et Vacances afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Pierre et Vacances has a total score of 1/6, see the detailed checks below.


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

PV6 Management

 What is the CEO of Pierre et Vacances'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
Yann Caillère
COMPENSATION €483,336
AGE 66
TENURE AS CEO 1.3 years
CEO Bio

Mr. Yann Caillère serves as Chief Executive Officer at Pierre & Vacances-Center Parcs Group since 2019 and is its Director since October 14, 2019. He served as Director at Pierre & Vacances-Center Parcs Group until September 2019. He has been Senior Advisor of Parque de Atracciones Madrid S.A. since February 1, 2016. Mr. Caillère served as the Chief Executive Officer of Parque de Atracciones Madrid S.A. until February 1, 2016. Mr. Caillère has held senior hospitality and leisure industry roles at companies including the Accor Group, Disney and Louvre Hotels. He served as Chief Executive Officer of Accor SA from April 23, 2013 to August 27, 2013. He served as the Chief Executive Officer of Parques Reunidos Servicios Centrales, S.A.U. until January 31, 2016. Mr. Caillère served as the President and Chief Operating Officer of Accor SA at Pullman Hotels and Resorts April 23, 2013. He served as Deputy Chief Executive Officer of Accor SA since August 25, 2010. He served as the Chief Executive Officer of Sofitel at Accor SA. He served as the Chief Operating Officer Accor Hospitality Europe Africa and Middle East of Accor SA. He served as the Chief Operating Officer of France, Southern Europe, Africa, Middle East and Latin America of Accor SA since January 2006. Mr. Caillère served as Chief Operating Officer of Hotels Southern Europe, Middle East, Africa and in charge of operations of Sofitel of Accor SA since January 9, 2006. Mr. Caillère served as President and Chief Operating Officer of Euro Disney S.C.A. from March 28, 2003 to September 22, 2004. He served as Senior Vice President of Operations of Euro Disney S.C.A. since April 2002. He joined Euro Disney S.C.A. in March 1995. He served as Vice-President of Hotels and Disney Village Operations since September 1997. He served as Chief Executive Officer, Luxury Hotels and Conventions of Disneyland Resort Paris since 1995 and served as its Chief Operating Officer and Chief Executive Officer of the resort. He served as Chief Executive Officer of Louvre Hotels Group since October 2004. Mr. Caillère began his career in the international arena, before joining Pullman, where he held various operational positions. He served as a Director of Parques Reunidos Servicios Centrales, S.A.U. until January 28, 2016. He served as a Director of Accor Hospitality Italia Srl. He has served as a Member of Supervisory Board of Orbis Spólka Akcyjna from June 2009 to June 2013. and Groupe Lucien Barrière SAS. He served as Chairman of Louvre Hotels Group since October 2004. Mr. Caillère graduated from the Thonon-les-Bains Ecole Hoteliere.

CEO Compensation
  • Insufficient data for Yann to compare compensation growth.
  • Yann's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure of the Pierre et Vacances management team in years:

2.7
Average Tenure
  • The tenure for the Pierre et Vacances management team is about average.
Management Team

Yann Caillère

TITLE
CEO & Director
COMPENSATION
€483K
AGE
66
TENURE
1.3 yrs

Martine Balouka-Vallette

TITLE
Chief Executive Officer of Tourism
COMPENSATION
€637K
AGE
68
TENURE
6.3 yrs

Jean-Christophe Lemasson

TITLE
Group Finance Operations & Services Director

Emeline Lauté

TITLE
Investor Relations and Strategic Operations

Loïc Delboulbé

TITLE
Group Human Resources Director

Mark Haak Wegmann

TITLE
CEO of Real Estate Development & Construction for Belgium/Netherlands/Germany & New Foreign Markets

Philippe Pages

TITLE
Director of Asset Management

Karim Malak

TITLE
Chief Executive Officer of Aparthotels Adagio
TENURE
4.2 yrs

Stéphane Lerendu

TITLE
Deputy Chief Executive Officer of Pierre & Vacances Développement
TENURE
0.3 yrs

José-Maria Pont

TITLE
Chief Executive Officer of Pierre & Vacances Spain
Board of Directors Tenure

Average tenure and age of the Pierre et Vacances board of directors in years:

3.7
Average Tenure
67
Average Age
  • The tenure for the Pierre et Vacances board of directors is about average.
Board of Directors

Gérard Brémond

TITLE
Chairman
COMPENSATION
€502K
AGE
82
TENURE
31.5 yrs

Yann Caillère

TITLE
CEO & Director
COMPENSATION
€483K
AGE
66
TENURE
0.5 yrs

Andries Olijslager

TITLE
Independent Director
COMPENSATION
€33K
AGE
75
TENURE
11.5 yrs

Bertrand Méheut

TITLE
Independent Director
COMPENSATION
€30K
AGE
68
TENURE
4.2 yrs

Amélie Blanckaert

TITLE
Independent Director
COMPENSATION
€30K
AGE
44
TENURE
3.2 yrs

Delphine Brémond

TITLE
Director
COMPENSATION
€25K
AGE
53
TENURE
11.3 yrs

Olivier Brémond

TITLE
Director
COMPENSATION
€550K
AGE
57
TENURE
0.6 yrs

Annie Famose

TITLE
Director
COMPENSATION
€33K
AGE
75
TENURE
4.2 yrs

Alma Brémond

TITLE
Director
COMPENSATION
€30K
AGE
23
TENURE
3.2 yrs

Jean-Pierre Raffarin

TITLE
Independent Director
COMPENSATION
€30K
AGE
71
TENURE
2.2 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 Pierre et Vacances'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. Pierre et Vacances 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.

PV6 News

Simply Wall St News

PV6 Company Info

Description

Pierre et Vacances SA, through its subsidiaries, engages in the holiday accommodation and holiday property investment activities. It operates through two segments, Property Development and Tourism. The Property Development segment designs, constructs, and markets hotel rooms, apartments, and new or renovated houses to individual investors or institutional buyers primarily in France and Germany. This segment also develops buildings and marketing residences. The Tourism segment operates residences and villages marketed under the Pierre & Vacances, Adagio, Center Parcs, Pierre & Vacances Premium, Maeva.com, and Sunparks brands primarily in France, the Netherlands, Germany, Belgium, Spain, and Portugal. It operates approximately 285 sites with 46,200 apartments. The company was founded in 1967 and is headquartered in Paris, France. Pierre et Vacances SA is a subsidiary of Société d’Investissement Touristique et Immobilier.

Details
Name: Pierre et Vacances SA
PV6
Exchange: DB
Founded: 1967
€97,324,258
9,541,594
Website: http://www.groupepvcp.com
Address: Pierre et Vacances SA
L’Artois,
Espace Pont de Flandre,
Paris,
Ile-de-France, 75947,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA VAC Ordinary Shares Euronext Paris FR EUR 14. Jun 1999
DB PV6 Ordinary Shares Deutsche Boerse AG DE EUR 14. Jun 1999
LSE 0OQ0 Ordinary Shares London Stock Exchange GB EUR 14. Jun 1999
BATS-CHIXE VACP Ordinary Shares BATS 'Chi-X Europe' GB EUR 14. Jun 1999
Number of employees
Current staff
Staff numbers
12,800
Pierre et Vacances 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 23:42
End of day share price update: 2020/04/03 00:00
Last estimates confirmation: 2020/03/27
Last earnings filing: 2020/01/03
Last earnings reported: 2019/09/30
Last annual earnings reported: 2019/09/30


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.