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Electricité de France

DB:E2F
Snowflake Description

Good value with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
E2F
DB
€24B
Market Cap
  1. Home
  2. DE
  3. Utilities
Company description

Electricité de France S.A., an integrated energy company, engages in the generation, transmission, distribution, supply, and trading of power and energy services in France, the United Kingdom, Italy, and internationally. The last earnings update was 53 days ago. More info.


Add to Portfolio Compare Print
  • Electricité de France has significant price volatility in the past 3 months.
E2F Share Price and Events
7 Day Returns
4.1%
DB:E2F
0.7%
Europe Electric Utilities
2.1%
DE Market
1 Year Returns
-37.3%
DB:E2F
-0.5%
Europe Electric Utilities
-16.6%
DE Market
E2F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Electricité de France (E2F) 4.1% -40.4% -24.2% -37.3% -6.6% -67.5%
Europe Electric Utilities 0.7% -17.1% -11.1% -0.5% 22.1% -2%
DE Market 2.1% -12.6% -22.9% -16.6% -21.9% -27.8%
1 Year Return vs Industry and Market
  • E2F underperformed the Electric Utilities industry which returned -0.5% over the past year.
  • E2F underperformed the Market in Germany which returned -16.6% over the past year.
Price Volatility
E2F
Industry
5yr Volatility vs Market

E2F Value

 Is Electricité de France 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 Electricité de France 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 Electricité de France.

DB:E2F 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 4.8%
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:E2F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 6.1%
Electric Utilities Unlevered Beta Simply Wall St/ S&P Global 0.27
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.272 (1 + (1- 33%) (282.54%))
0.856
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.86
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (0.856 * 6.07%)
4.81%

Discounted Cash Flow Calculation for DB:E2F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Electricité de France 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:E2F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 4.81%)
2020 -2,312.75 Analyst x4 -2,206.64
2021 -1,838.80 Analyst x5 -1,673.94
2022 -301.00 Analyst x3 -261.44
2023 116.67 Analyst x3 96.68
2024 490.00 Analyst x2 387.44
2025 859.17 Est @ 75.34% 648.18
2026 1,311.29 Est @ 52.62% 943.88
2027 1,792.78 Est @ 36.72% 1,231.24
2028 2,251.47 Est @ 25.59% 1,475.32
2029 2,652.08 Est @ 17.79% 1,658.10
Present value of next 10 years cash flows €2,298.00
DB:E2F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €2,652.08 × (1 + -0.39%) ÷ (4.81% – -0.39%)
€50,814.51
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €50,814.51 ÷ (1 + 4.81%)10
€31,769.52
DB:E2F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €2,298.00 + €31,769.52
€34,067.52
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €34,067.52 / 3,098.73
€10.99
DB:E2F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:E2F represents 0.97324x of ENXTPA:EDF
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.97324x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 10.99 x 0.97324
€10.70
Value per share (EUR) From above. €10.70
Current discount Discount to share price of €7.49
= -1 x (€7.49 - €10.70) / €10.70
30%

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

Current Discount
Amount off the current price Electricité de France is available for.
Intrinsic value
30%
Share price is €7.49 vs Future cash flow value of €10.7
Current Discount Checks
For Electricité de France to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Electricité de France's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Electricité de France's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Electricité de France's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Electricité de France's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:E2F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in EUR €1.65
ENXTPA:EDF Share Price ** ENXTPA (2020-04-07) in EUR €7.7
Europe Electric Utilities Industry PE Ratio Median Figure of 74 Publicly-Listed Electric Utilities Companies 10.45x
Germany Market PE Ratio Median Figure of 402 Publicly-Listed Companies 16.83x

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

** Primary Listing of Electricité de France.

DB:E2F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 7.7 ÷ 1.65

4.66x

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

  • Electricité de France is good value based on earnings compared to the Europe Electric Utilities industry average.
  • Electricité de France is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Electricité de France's expected growth come at a high price?
Raw Data
DB:E2F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 4.66x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
-8.3%per year
Europe Electric Utilities Industry PEG Ratio Median Figure of 35 Publicly-Listed Electric Utilities Companies 1.6x
Germany Market PEG Ratio Median Figure of 256 Publicly-Listed Companies 1.22x

*Line of best fit is calculated by linear regression .

DB:E2F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 4.66x ÷ -8.3%

-0.56x

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

  • Electricité de France earnings are not expected to grow next year, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Electricité de France's assets?
Raw Data
DB:E2F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in EUR €15.00
ENXTPA:EDF Share Price * ENXTPA (2020-04-07) in EUR €7.7
Europe Electric Utilities Industry PB Ratio Median Figure of 87 Publicly-Listed Electric Utilities Companies 0.78x
Germany Market PB Ratio Median Figure of 573 Publicly-Listed Companies 1.45x
DB:E2F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 7.7 ÷ 15.00

0.51x

* Primary Listing of Electricité de France.

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

  • Electricité de France is good value based on assets compared to the Europe Electric Utilities industry average.
X
Value checks
We assess Electricité de France'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 Electric Utilities 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 Electric Utilities industry average (and greater than 0)? (1 check)
  5. Electricité de France 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.

E2F Future Performance

 How is Electricité de France 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
-8.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Electricité de France expected to grow at an attractive rate?
  • Electricité de France's earnings are expected to decrease over the next 1-3 years, this is below the low risk savings rate of -0.4%.
Growth vs Market Checks
  • Electricité de France's earnings are expected to decrease over the next 1-3 years, this is below the Germany market average.
  • Electricité de France's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:E2F Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:E2F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts -8.3%
DB:E2F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 1.4%
Europe Electric Utilities Industry Earnings Growth Rate Market Cap Weighted Average 9.6%
Europe Electric Utilities Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14%
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:E2F 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:E2F Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 77,834 16,542 2
2023-12-31 76,477 16,402 4,625 4
2022-12-31 73,506 15,135 3,212 10
2021-12-31 73,223 14,225 2,582 15
2020-12-31 72,800 13,561 2,684 16
2020-04-07
DB:E2F Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-12-31 71,317 14,022 5,008
2019-09-30 70,685 13,478 3,492
2019-06-30 70,483 12,934 1,768
2019-03-31 69,730 13,149 1,181
2018-12-31 68,546 13,364 800
2018-09-30 67,551 1,568
2018-06-30 66,556 15,436 2,336
2018-03-31 65,724 13,550 2,472
2017-12-31 64,892 11,663 2,608
2017-09-30 66,367 2,401
2017-06-30 67,842 9,525 2,193
2017-03-31 69,523 10,325 2,231

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Electricité de France's earnings are expected to decrease over the next 1-3 years, this is not considered high growth.
  • Electricité de France's revenue is expected to grow by 1.4% 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:E2F 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 Electricité de France Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:E2F Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 1.13 1.13 1.13 1.00
2023-12-31 1.12 1.33 0.91 2.00
2022-12-31 0.96 1.33 0.60 5.00
2021-12-31 0.84 1.05 0.60 10.00
2020-12-31 0.82 1.06 0.64 10.00
2020-04-07
DB:E2F Past Financials Data
Date (Data in EUR Millions) EPS *
2019-12-31 1.65
2019-09-30 1.19
2019-06-30 0.63
2019-03-31 0.41
2018-12-31 0.27
2018-09-30 0.52
2018-06-30 0.77
2018-03-31 0.87
2017-12-31 0.98
2017-09-30 0.96
2017-06-30 0.95
2017-03-31 1.04

*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.
  • Electricité de France is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Electricité de France's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Electricité de France has a total score of 0/6, see the detailed checks below.

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

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

E2F Past Performance

  How has Electricité de France 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 Electricité de France's growth in the last year to its industry (Electric Utilities).
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.
  • Electricité de France's year on year earnings growth rate has been positive over the past 5 years.
  • Electricité de France's 1-year earnings growth exceeds its 5-year average (526% vs 5.2%)
  • Electricité de France's earnings growth has exceeded the Europe Electric Utilities industry average in the past year (526% vs 9.7%).
Earnings and Revenue History
Electricité de France'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 Electricité de France Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:E2F 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 71,317.00 5,008.00 14,201.00
2019-09-30 70,685.00 3,491.50 14,210.50
2019-06-30 70,483.00 1,768.00 14,268.00
2019-03-31 69,729.50 1,180.50 14,179.00
2018-12-31 68,546.00 800.00 14,042.00
2018-09-30 67,551.00 1,568.00 13,715.00
2018-06-30 66,556.00 2,336.00 13,388.00
2018-03-31 65,724.00 2,472.00 13,129.00
2017-12-31 64,892.00 2,608.00 12,870.00
2017-09-30 66,367.00 2,400.50 12,890.00
2017-06-30 67,842.00 2,193.00 12,910.00
2017-03-31 69,522.50 2,231.00 12,977.00
2016-12-31 71,203.00 2,269.00 13,044.00
2016-09-30 71,997.50 1,216.00 13,284.00
2016-06-30 72,792.00 163.00 13,524.00
2016-03-31 73,899.00 379.50 13,292.50
2015-12-31 75,006.00 596.00 13,061.00
2015-09-30 75,568.50 1,952.50 13,122.00
2015-06-30 76,131.00 3,309.00 13,183.00
2015-03-31 74,757.00 3,311.00 13,120.50
2014-12-31 73,383.00 3,313.00 13,058.00
2014-09-30 71,936.00 3,184.00 12,786.50
2014-06-30 70,489.00 3,055.00 12,515.00
2014-03-31 71,202.50 3,234.50 12,524.50
2013-12-31 71,916.00 3,414.00 12,534.00
2013-09-30 72,755.50 3,367.50 12,083.50
2013-06-30 73,827.00 3,373.00 11,539.00

*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.
  • Electricité de France has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Electricité de France used its assets less efficiently than the Europe Electric Utilities industry average last year based on Return on Assets.
  • Electricité de France's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Electricité de France'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 Electric Utilities 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.
Electricité de France 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.

E2F Health

 How is Electricité de France'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 Electricité de France's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Electricité de France is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Electricité de France's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Electricité de France'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 1.2x 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 Electricité de France Company Filings, last reported 3 months ago.

DB:E2F Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 55,790.00 62,870.00 30,056.00
2019-09-30 55,790.00 62,870.00 30,056.00
2019-06-30 53,576.00 58,922.00 29,898.00
2019-03-31 53,576.00 58,922.00 29,898.00
2018-12-31 52,646.00 58,864.00 30,534.00
2018-09-30 52,646.00 58,864.00 30,534.00
2018-06-30 51,922.00 55,525.00 35,673.00
2018-03-31 51,922.00 55,525.00 35,673.00
2017-12-31 48,698.00 56,478.00 25,618.00
2017-09-30 48,698.00 56,478.00 25,618.00
2017-06-30 46,838.00 60,609.00 30,664.00
2017-03-31 46,838.00 60,609.00 30,664.00
2016-12-31 41,362.00 64,775.00 29,108.00
2016-09-30 41,362.00 64,775.00 29,108.00
2016-06-30 39,614.00 63,404.00 21,888.00
2016-03-31 39,614.00 63,404.00 21,888.00
2015-12-31 40,240.00 63,738.00 27,529.00
2015-09-30 40,240.00 63,738.00 27,529.00
2015-06-30 41,758.00 56,313.00 15,776.00
2015-03-31 41,758.00 56,313.00 15,776.00
2014-12-31 40,665.00 55,161.00 22,369.00
2014-09-30 40,665.00 55,161.00 22,369.00
2014-06-30 45,282.00 55,508.00 24,610.00
2014-03-31 45,282.00 55,508.00 24,610.00
2013-12-31 39,205.00 51,209.00 18,111.00
2013-09-30 39,205.00 51,209.00 18,111.00
2013-06-30 37,823.00 59,000.00 18,756.00
  • Electricité de France's level of debt (112.7%) 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 (135.6% vs 112.7% today).
  • Debt is well covered by operating cash flow (22.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 20.9x coverage).
X
Financial health checks
We assess Electricité de France'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. Electricité de France has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


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

E2F Dividends

 What is Electricité de France'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
6.24%
Current annual income from Electricité de France dividends. Estimated to be 5.14% next year.
If you bought €2,000 of Electricité de France shares you are expected to receive €125 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?
  • Electricité de France's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.67%).
  • Electricité de France's dividend is above the markets top 25% of dividend payers in Germany (4.71%).
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:E2F 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
Europe Electric Utilities Industry Average Dividend Yield Market Cap Weighted Average of 51 Stocks 4.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 314 Stocks 3.7%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 4.7%

Industry and Market average data is calculated daily.

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

DB:E2F Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2024-12-31 0.48 2.00
2023-12-31 0.47 5.00
2022-12-31 0.39 12.00
2021-12-31 0.38 17.00
2020-12-31 0.39 17.00
2020-04-07
DB:E2F Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2020-02-14 0.480 5.148
2019-11-19 0.310 3.040
2019-03-18 0.310 2.825
2019-02-15 0.310 2.410
2018-11-06 0.460 3.231
2018-02-16 0.460 3.688
2017-05-09 0.800 8.008
2016-09-30 1.000 10.946
2016-02-16 1.100 10.005
2015-02-12 1.250 7.127
2014-12-11 1.250 5.459
2014-02-13 1.250 4.927
2013-11-27 1.250 4.874
2013-02-14 1.250 6.541
2012-11-22 1.150 8.102
2012-02-17 1.150 6.930
2012-02-16 1.150 6.169
2011-11-22 1.150 6.268
2011-04-18 1.150 4.845
2011-02-15 1.150 3.883
2011-02-14 1.150 3.681
2010-11-30 1.170 3.711
2010-02-11 1.150 3.337
2009-11-05 1.190 2.994
2009-04-14 1.280 3.579

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%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Electricité de France's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.4x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Electricité de France's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Electricité de France afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Electricité de France 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.

E2F Management

 What is the CEO of Electricité de France'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
Jean-Bernard Lévy
COMPENSATION €452,868
AGE 64
TENURE AS CEO 5.4 years
CEO Bio

Mr. Jean-Bernard Lévy has been the Chief Executive Officer of Electricité de France S.A. since November 27, 2014 and served as its President. Mr. Lévy served as the Chairman and Chief Executive Officer of Thales SA from December 20, 2012 to November 27, 2014. He served as the Chairman of Management Board and Member of Management Board at Universal Music Group, Inc. He served as the Chairman of Management Board, Member of the Management Board and Chief Executive Officer of Vivendi Société Anonyme at Societe Francaise du Radiotelephone - SFR S.A., from April 28, 2005 to June 28, 2012. He served as the Chairman and Chief Executive Officer at SFR. He served as a Senior Executive Vice President of Human Resources at Thales SA from February 2013 to June 24, 2013. He served as the Chief Operating Officer at Vivendi Société Anonyme since August 2002. He served as the Chief Operating Officer at Vivendi Universal group from August 2002 to April 28, 2005. He has been Chairman of Electricité de France S.A. since November 27, 2014. He served as the Chairman and Chief Executive Officer at VU Net and VTI. From 1998 to 2002, He served as a Managing Partner of Corporate Finance of the French equities broker Oddo Pinatton Group. In 1998, he joined Oddo et Cie as the Chief Executive Officer. He served as the Chairman and Chief Executive Officer of Matra Communication from 1995 to 1998. From 1988 to 1993, he served as a General Manager of Communication Satellites of Matra Marconi Space. From 1986 to 1988, he served as a Technical Adviser to the French Minister for Post Office and Telecommunications. From 1982 to 1986, he served as a Vice President of Human Resources Corporate Headquarters Department at France Telecom. From 1978 to 1986, he served as an Engineer at France Télécom. He serves as the President of the Board of Governors at Institut Télécom. He served as Chairman of the Global Village Telecom (Holding) S.A. since December 2009 and serves as a Director at Edison S.p.A. since December 12, 2014 and was its Chairman till July 01, 2019. He served as the Chairman of JBL Consulting & Investment SAS from 2012 to 2014 and serves as Chairman of the Institut Mines-Télécom. He serves as the Chairman of the Supervisory Board of Canal France. He served as the Chairman of the Board of Directors of GVT. He served as the Chairman and Director of Activision Blizzard, Inc. from July 2008 to June 29, 2012. He served as the Chairman of the Supervisory Board of Groupe Canal. He serves as a Vice Chairman of Supervisory Board at Groupe Canal. He serves as a Vice Chairman of GIFAS. He served as Deputy Chairman of Supervisory Board at Itissalat Al-Maghrib (IAM) S.A. until July 23, 2012 and also served as its Member Of Supervisory Board from December 17, 2007 to July 23, 2012. He served as Vice President of Eurelectric Aisbl. He served as the Deputy Chairman of the Supervisory Board of Maroc Telecom S.A. from December 17, 2007 to July 23, 2012 and served as its Member of Supervisory Board from December 17, 2007 to July 23, 2012. He has been a Director of Electricité de France S.A. since November 23, 2014. He has been an Independent Director at Societe Generale Group since 2009. He serves as a Director of the Institut Pasteur, and SFR. He serves as a Member of Advisory Council at Lutetia Capital SAS. He serves as a Member of the Strategic Advisory Board of A.T. Kearney Paris and Paris Europlace. He serves as a Member of the Supervisory Board at Canal Group. He served as a Director of UGC and HCA. He served as a Director of Thales SA from December 20, 2012 to November 27, 2014 and Director of Global Village Telecom (Holding) S.A. He served as a Director of a Vinci Plc and VINCI SA from 2007 to April 14, 2015. He served as a Member of the Supervisory Board at Cegetel. He served as the Director of Vivendi Games Inc. and NBC Universal Inc. From 1993 to 1994, he served as the Chief of Staff to the French Minister for Industry, Post Office, Telecommunications and Foreign Trade. In 1986, he acted as an Advisor to Gérard Longuet, the French Minister for Postal and Telecommunications services. He served as Chairman of the Supervisory Board at Viroxis from 20007 to 2014 and DCNS from 2013 to 2014. He is a Chevalier of the Légion d’Honneur and an Officer of the Ordre National du Mérite. He is a graduate of Ecole Polytechnique in 1973 and Ecole Nationale Supérieure des Télécommunications. He is a Graduate of Télécom ParisTech. In French unlisted companies: • Chairman of the Supervisory Board: Framatome (since 31 December 2017). • Director: Dalkia (since 2014), EDF Énergies Nouvelles (since 2015). In foreign listed companies: • Director: EDF Energy Holdings (United Kingdom) (since 1 November 2017).

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

Average tenure and age of the Electricité de France management team in years:

4.3
Average Tenure
51
Average Age
  • The tenure for the Electricité de France management team is about average.
Management Team

Jean-Bernard Lévy

TITLE
Chairman & CEO
COMPENSATION
€453K
AGE
64
TENURE
5.4 yrs

Xavier Girre

TITLE
Group Senior Executive Vice President of Group Finance
AGE
50
TENURE
4.1 yrs

Stephane Tortajada

TITLE
Head of Financing and Investments

Aymeric Ducrocq

TITLE
Senior Vice President of Investors & Markets
AGE
40

Christophe Carval

TITLE
Group Senior Executive Vice President of Human Resources
AGE
58
TENURE
2.8 yrs

Claude Nahon

TITLE
Executive Vice President of Sustainable Development

Simone Rossi

TITLE
Group Senior Executive Vice-President
AGE
50
TENURE
5.1 yrs

Xavier Ursat

TITLE
Group Senior Executive Vice President of New Nuclear Projects & Engineering
AGE
52
TENURE
5.1 yrs

Alexandre Perra

TITLE
Group Senior Executive Vice-President of Innovation
AGE
38
TENURE
1.3 yrs

Marc Benayoun

TITLE
Group Senior Executive Vice President of Customers & Energy Services
AGE
53
TENURE
4.3 yrs
Board of Directors Tenure

Average tenure and age of the Electricité de France board of directors in years:

4.3
Average Tenure
65
Average Age
  • The tenure for the Electricité de France board of directors is about average.
Board of Directors

Jean-Bernard Lévy

TITLE
Chairman & CEO
COMPENSATION
€453K
AGE
64
TENURE
5.4 yrs

Marie-Christine Lepetit

TITLE
Director
COMPENSATION
€46K
AGE
58
TENURE
7.9 yrs

Colette Lewiner

TITLE
Independent Director
COMPENSATION
€49K
AGE
74
TENURE
6 yrs

Laurence Parisot

TITLE
Independent Director
COMPENSATION
€40K
AGE
60
TENURE
5.4 yrs

Martin Vial

TITLE
Director
COMPENSATION
€40K
AGE
65
TENURE
4.6 yrs

Claire Pedini

TITLE
Independent Director
COMPENSATION
€40K
AGE
54
TENURE
3.9 yrs

Maurice Gourdault-Montagne

TITLE
Director
COMPENSATION
€21K
AGE
66
TENURE
2.4 yrs

Bruno Cremel

TITLE
Director
TENURE
0.9 yrs

Gilles Denoyel

TITLE
Director
AGE
65
TENURE
0.9 yrs

Philippe Petitcolin

TITLE
Director
AGE
67
TENURE
0.9 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 Electricité de France'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. Electricité de France 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.

E2F News

Simply Wall St News

E2F Company Info

Description

Electricité de France S.A., an integrated energy company, engages in the generation, transmission, distribution, supply, and trading of power and energy services in France, the United Kingdom, Italy, and internationally. It generates electricity through nuclear, fossil fuel, hydro, solar, wind, biomass, biogas, tidal, geothermal, and cogeneration plants. The company also manages low and medium-voltage public electricity distribution networks; operates, maintains, and develops high-voltage and very-high-voltage electricity transmission networks; and services and produces equipment and fuel for nuclear reactors. In addition, it is involved in commodity trading activities; and the provision of energy services, including district heating services, thermal energy services, etc. The company serves 37.6 million customers. It serves small businesses, local authorities, and industrial and residential customers. Electricité de France S.A. was founded in 1946 and is headquartered in Paris, France.

Details
Name: Electricité de France S.A.
E2F
Exchange: DB
Founded: 1946
€23,847,821,500
3,098,729,405
Website: http://www.edf.fr
Address: Electricité de France S.A.
22-30, Avenue de Wagram,
Paris,
Ile-de-France, 75008,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA EDF Ordinary Shares Euronext Paris FR EUR 21. Nov 2005
OTCPK ECIF.F Ordinary Shares Pink Sheets LLC US USD 21. Nov 2005
DB E2F Ordinary Shares Deutsche Boerse AG DE EUR 21. Nov 2005
XTRA E2F Ordinary Shares XETRA Trading Platform DE EUR 21. Nov 2005
LSE 0HBA Ordinary Shares London Stock Exchange GB EUR 21. Nov 2005
SWX EDF Ordinary Shares SIX Swiss Exchange CH CHF 21. Nov 2005
WBAG EDF Ordinary Shares Wiener Boerse AG AT EUR 21. Nov 2005
BATS-CHIXE EDFP Ordinary Shares BATS 'Chi-X Europe' GB EUR 21. Nov 2005
ETLX EDF-U Ordinary Shares Eurotlx IT EUR 21. Nov 2005
OTCPK ECIF.Y UNSPONSORD ADR Pink Sheets LLC US USD 09. Dec 2008
DB A1HFHT 5.375%-FRN SUB EMTN PERP EUR100000 '15' Deutsche Boerse AG DE EUR 22. Jan 2013
DB A1HFHV 6%-FRN SUB EMTN PERP GBP100000 '16''REGS Deutsche Boerse AG DE USD 22. Jan 2013
LSE EDF1 6%-FRN SUB EMTN PERP GBP100000 '16''REGS London Stock Exchange GB GBP 22. Jan 2013
ENXTPA EDFBB 5.375%-FRN SUB EMTN PERP EUR100000 '15' Euronext Paris FR EUR 22. Jan 2013
Number of employees
Current staff
Staff numbers
161,522
Electricité de France employees.
Industry
Electric Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/04/07 22:22
End of day share price update: 2020/04/07 00:00
Last estimates confirmation: 2020/04/05
Last earnings filing: 2020/02/14
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.