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Esker

ENXTPA:ALESK
Snowflake Description

Flawless balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ALESK
ENXTPA
€476M
Market Cap
  1. Home
  2. FR
  3. Software
Company description

Esker SA provides document processing automation solutions in France and internationally. The last earnings update was 44 days ago. More info.


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ALESK Share Price and Events
7 Day Returns
5.6%
ENXTPA:ALESK
2.1%
FR Software
1.2%
FR Market
1 Year Returns
50.4%
ENXTPA:ALESK
30.3%
FR Software
20.8%
FR Market
ALESK Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Esker (ALESK) 5.6% 6.7% 7.5% 50.4% 100.5% 444.7%
FR Software 2.1% 4.1% 11.7% 30.3% 91.1% 177.5%
FR Market 1.2% -0.7% 3.6% 20.8% 27.4% 50.8%
1 Year Return vs Industry and Market
  • ALESK outperformed the Software industry which returned 30.3% over the past year.
  • ALESK outperformed the Market in France which returned 20.8% over the past year.
Price Volatility
ALESK
Industry
5yr Volatility vs Market
Related Companies

ALESK Value

 Is Esker 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 Esker 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 Esker.

ENXTPA:ALESK Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.6%
Perpetual Growth Rate 10-Year FR Government Bond Rate -0.1%

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 ENXTPA:ALESK
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 6.1%
Software Unlevered Beta Simply Wall St/ S&P Global 1.14
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.136 (1 + (1- 33%) (1.51%))
1.099
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.11% + (1.099 * 6.07%)
6.56%

Discounted Cash Flow Calculation for ENXTPA:ALESK using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Esker 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.

ENXTPA:ALESK DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 6.56%)
2020 11.70 Analyst x1 10.98
2021 14.00 Analyst x1 12.33
2022 15.61 Est @ 11.5% 12.90
2023 16.86 Est @ 8.02% 13.08
2024 17.80 Est @ 5.58% 12.96
2025 18.49 Est @ 3.87% 12.63
2026 18.99 Est @ 2.68% 12.17
2027 19.34 Est @ 1.84% 11.63
2028 19.58 Est @ 1.26% 11.05
2029 19.75 Est @ 0.85% 10.46
Present value of next 10 years cash flows €120.00
ENXTPA:ALESK DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= €19.75 × (1 + -0.11%) ÷ (6.56% – -0.11%)
€295.71
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €295.71 ÷ (1 + 6.56%)10
€156.65
ENXTPA:ALESK Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €120.00 + €156.65
€276.65
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €276.65 / 5.50
€50.26
ENXTPA:ALESK Discount to Share Price
Calculation Result
Value per share (EUR) From above. €50.26
Current discount Discount to share price of €86.50
= -1 x (€86.50 - €50.26) / €50.26
-72.1%

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

  • The current share price of Esker is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Esker's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Esker's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:ALESK PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in EUR €1.73
ENXTPA:ALESK Share Price ** ENXTPA (2019-12-11) in EUR €86.5
France Software Industry PE Ratio Median Figure of 18 Publicly-Listed Software Companies 34.77x
France Market PE Ratio Median Figure of 406 Publicly-Listed Companies 17.67x

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

** Primary Listing of Esker.

ENXTPA:ALESK PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 86.5 ÷ 1.73

50.14x

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

  • Esker is overvalued based on earnings compared to the FR Software industry average.
  • Esker is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does Esker's expected growth come at a high price?
Raw Data
ENXTPA:ALESK PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 50.14x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
23.2%per year
France Software Industry PEG Ratio Median Figure of 15 Publicly-Listed Software Companies 2.18x
France Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

ENXTPA:ALESK PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 50.14x ÷ 23.2%

2.16x

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

  • Esker is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Esker's assets?
Raw Data
ENXTPA:ALESK PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in EUR €9.65
ENXTPA:ALESK Share Price * ENXTPA (2019-12-11) in EUR €86.5
France Software Industry PB Ratio Median Figure of 27 Publicly-Listed Software Companies 2.04x
France Market PB Ratio Median Figure of 594 Publicly-Listed Companies 1.45x
ENXTPA:ALESK PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 86.5 ÷ 9.65

8.96x

* Primary Listing of Esker.

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

  • Esker is overvalued based on assets compared to the FR Software industry average.
X
Value checks
We assess Esker'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 Software 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 Software industry average (and greater than 0)? (1 check)
  5. Esker has a total score of 0/6, 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.

ALESK Future Performance

 How is Esker expected to perform in the next 1 to 3 years based on estimates from 2 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
23.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Esker expected to grow at an attractive rate?
  • Esker's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Esker's earnings growth is expected to exceed the France market average.
  • Esker's revenue growth is expected to exceed the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:ALESK Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:ALESK Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 23.2%
ENXTPA:ALESK Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 14.5%
France Software Industry Earnings Growth Rate Market Cap Weighted Average 16.2%
France Software Industry Revenue Growth Rate Market Cap Weighted Average 12.6%
France Market Earnings Growth Rate Market Cap Weighted Average 11.4%
France Market Revenue Growth Rate Market Cap Weighted Average 4.6%

*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
ENXTPA:ALESK Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:ALESK Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 141 17 1
2020-12-31 117 13 2
2019-12-31 101 10 2
2019-12-11
ENXTPA:ALESK Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-06-30 101 15 9
2019-03-31 97 15 9
2018-12-31 93 16 9
2018-09-30 89 17 8
2018-06-30 86 18 7
2018-03-31 84 17 7
2017-12-31 81 15 7
2017-09-30 78 14 7
2017-06-30 76 13 7
2017-03-31 73 14 6
2016-12-31 71 14 6
2016-09-30 69 12 7

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Esker's earnings are expected to grow significantly at over 20% yearly.
  • Esker's revenue is expected to grow by 14.5% 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
ENXTPA:ALESK Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (5 months ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Esker Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:ALESK Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 3.04 3.04 3.04 1.00
2020-12-31 2.33 2.51 2.15 2.00
2019-12-31 1.91 2.00 1.77 3.00
2019-12-11
ENXTPA:ALESK Past Financials Data
Date (Data in EUR Millions) EPS *
2019-06-30 1.73
2019-03-31 1.68
2018-12-31 1.64
2018-09-30 1.52
2018-06-30 1.41
2018-03-31 1.34
2017-12-31 1.28
2017-09-30 1.25
2017-06-30 1.22
2017-03-31 1.21
2016-12-31 1.20
2016-09-30 1.32

*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.
  • Esker is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Esker'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 France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France 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.
Esker has a total score of 5/6, 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.

ALESK Past Performance

  How has Esker 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 Esker's growth in the last year to its industry (Software).
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.
  • Esker's year on year earnings growth rate has been positive over the past 5 years.
  • Esker's 1-year earnings growth exceeds its 5-year average (25.7% vs 13%)
  • Esker's earnings growth has exceeded the FR Software industry average in the past year (25.7% vs 3%).
Earnings and Revenue History
Esker'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 Esker Company Filings, last reported 5 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:ALESK Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 100.56 9.38
2019-03-31 96.59 9.11
2018-12-31 92.61 8.84
2018-09-30 89.46 8.15
2018-06-30 86.30 7.47
2018-03-31 83.79 7.12
2017-12-31 81.27 6.77
2017-09-30 78.45 6.66
2017-06-30 75.63 6.56
2017-03-31 73.20 6.44
2016-12-31 70.76 6.33
2016-09-30 69.22 6.84
2016-06-30 67.69 7.36
2016-03-31 64.99 6.92
2015-12-31 62.29 6.47
2015-09-30 59.18 6.29
2015-06-30 56.07 6.10
2015-03-31 52.73 5.38
2014-12-31 49.40 4.65
2014-09-30 47.52 4.09
2014-06-30 45.64 3.53
2014-03-31 44.76 3.36
2013-12-31 43.88 3.19
2013-09-30 43.70 3.06
2013-06-30 43.53 2.93
2013-03-31 43.09 2.96
2012-12-31 42.64 3.00

*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.
  • Esker has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Esker used its assets more efficiently than the FR Software industry average last year based on Return on Assets.
  • Esker's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Esker'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 Software 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.
Esker has a total score of 4/6, 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.

ALESK Health

 How is Esker'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 Esker's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Esker is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Esker's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Esker'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 7.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

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

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

All data from Esker Company Filings, last reported 5 months ago.

ENXTPA:ALESK Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 51.66 6.54 19.25
2019-03-31 51.66 6.54 19.25
2018-12-31 47.77 8.32 22.79
2018-09-30 47.77 8.32 22.79
2018-06-30 43.46 10.10 19.68
2018-03-31 43.46 10.10 19.68
2017-12-31 39.62 11.87 20.63
2017-09-30 39.62 11.87 20.63
2017-06-30 37.85 13.63 22.26
2017-03-31 37.85 13.63 22.26
2016-12-31 34.40 4.90 21.34
2016-09-30 34.40 4.90 21.34
2016-06-30 31.35 5.67 17.95
2016-03-31 31.35 5.67 17.95
2015-12-31 29.19 4.25 16.30
2015-09-30 29.19 4.25 16.30
2015-06-30 25.64 4.92 13.35
2015-03-31 25.64 4.92 13.35
2014-12-31 21.51 2.23 17.56
2014-09-30 21.51 2.23 17.56
2014-06-30 19.09 0.33 14.32
2014-03-31 19.09 0.33 14.32
2013-12-31 18.66 0.42 13.41
2013-09-30 18.66 0.42 13.41
2013-06-30 16.74 0.54 12.74
2013-03-31 16.74 0.54 12.74
2012-12-31 15.55 0.59 11.39
  • Esker's level of debt (11.4%) compared to net worth is satisfactory (less than 40%).
  • Esker had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
  • Debt is well covered by operating cash flow (257.6%, greater than 20% of total debt).
  • Esker earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Esker'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. Esker has a total score of 6/6, 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.

ALESK Dividends

 What is Esker'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
0.47%
Current annual income from Esker dividends. Estimated to be 0.71% next year.
If you bought €2,000 of Esker shares you are expected to receive €9 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?
  • Esker's pays a lower dividend yield than the bottom 25% of dividend payers in France (1.49%).
  • Esker's dividend is below the markets top 25% of dividend payers in France (4.59%).
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
ENXTPA:ALESK 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 2 Analyst Estimates (S&P Global) See Below
France Software Industry Average Dividend Yield Market Cap Weighted Average of 10 Stocks 0.5%
France Market Average Dividend Yield Market Cap Weighted Average of 310 Stocks 2.9%
France Minimum Threshold Dividend Yield 10th Percentile 0.9%
France Bottom 25% Dividend Yield 25th Percentile 1.5%
France Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

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

ENXTPA:ALESK Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.75 1.00
2020-12-31 0.63 2.00
2019-12-31 0.53 2.00
2019-12-11
ENXTPA:ALESK Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-05-21 0.410 0.501
2018-05-04 0.320 0.507
2018-01-15 0.320 0.601
2017-06-29 0.300 0.595
2016-05-03 0.300 0.736
2016-01-15 0.300 1.064
2015-05-04 0.240 0.855
2015-04-30 0.240 0.996
2014-08-29 0.180 0.985
2014-04-30 0.180 1.033
2013-04-30 0.140 0.993
2012-05-03 0.120 1.156
2011-05-25 0.080 1.218

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

  • Esker is not paying a notable dividend for France, therefore no need to check if the payments are stable.
  • Esker is not paying a notable dividend for France, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Esker's earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Esker's dividends as it is not paying a notable one for France.
Future Payout to shareholders
  • No need to calculate the sustainability of Esker's dividends in 3 years as they are not expected to pay a notable one for France.
X
Income/ dividend checks
We assess Esker'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 Esker afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Esker has a total score of 0/6, see the detailed checks below.


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

ALESK Management

 What is the CEO of Esker'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-Michel Bérard
COMPENSATION €386,556
AGE 57
CEO Bio

Mr. Jean-Michel Bérard Founded Esker S.A. and serves as its Chief Executive Officer. Mr. Bérard is Co-Founder and Worldwide Chief Executive Officer of Esker Inc. He has been the Chairman of The Management Board at Esker SA since 2000. He is also Esker spokesperson to potential partners, the European technological community, IT analysts and trade press. He serves as the President of the Board of Directors of Esker Inc. He also serves as a Manager of Esker Ltd (U.K.), Esker Iberica Sl, Esker Italia Srl, Esker GmbH (Germany) / Co-manager of Esker Inc., Esker Australia Pty Ltd., and Interdoc Oy (Finland). In 2000, he was awarded the Grand Prix de l’Entrepreneur (Entrepreneur of the Year award) for France and the Rhône Alpes region. He was named as one of the Top Technology Visionaries by Start magazine in 2002. Mr. Bérard received a degree in Computer Engineering in 1984 from the Renowned French National Institute of Applied Science (INSA) in Lyon.

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

Jean-Michel Bérard

TITLE
Founder
COMPENSATION
€387K
AGE
57

Emmanuel Olivier

TITLE
COO & Member of Executive Board
COMPENSATION
€312K
AGE
51
TENURE
16.9 yrs

Jean-Jacques Bérard

TITLE
Executive VP of Research & Development and Member of Executive Board
AGE
53

Eric Bussy

TITLE
Director of Marketing & Product Management and Member of Executive Board
AGE
44

Steve Smith

TITLE
COO of US & Member of Executive Board
AGE
57

Eric Thomas

TITLE
VP of Business Development & Member of Executive Board
AGE
52

Anne Grand-Clément

TITLE
World Wide Vice President of Professional Services & Technical Support and Member of Executive Board
AGE
49
Board of Directors Tenure

Average tenure of the Esker board of directors in years:

19.9
Average Tenure
  • The average tenure for the Esker board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Marie-Claude Bernal

TITLE
Chair of the Supervisory Board

Kleber Beauvillain

TITLE
Vice Chairman of Supervisory Board
COMPENSATION
€24K
TENURE
19.9 yrs

Tom Wolfe

TITLE
Member of Supervisory Board
COMPENSATION
€21K
TENURE
20.9 yrs

Nicole Pelletier-Perez

TITLE
Member of Supervisory Board
COMPENSATION
€24K
TENURE
2.9 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 Esker'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. Esker 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.

ALESK News

Simply Wall St News

Here's What Esker SA's (EPA:ALESK) P/E Is Telling Us

View our latest analysis for Esker How Do I Calculate A Price To Earnings Ratio? … The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Esker: P/E of 50.48 = €82.7 ÷ €1.64 (Based on the trailing twelve months to December 2018.) Is A High Price-to-Earnings Ratio Good? … Esker's Balance Sheet Since Esker holds net cash of €14m, it can spend on growth, justifying a higher P/E ratio than otherwise.

Simply Wall St -

Boasting A 19% Return On Equity, Is Esker SA (EPA:ALESK) A Top Quality Stock?

The formula for return on equity is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Esker: 19% = €8.8m ÷ €48m (Based on the trailing twelve months to December 2018.) Most know that net profit is the total earnings after all expenses, but the concept of shareholders' equity is a little more complicated. … Combining Esker's Debt And Its 19% Return On Equity While Esker does have some debt, with debt to equity of just 0.17, we wouldn't say debt is excessive. … In my book the highest quality companies have high return on equity, despite low debt.

Simply Wall St -

Do Institutions Own Esker SA (EPA:ALESK) Shares?

As Charlie Munger said 'Show me the incentive and I will show you the outcome.' Esker is a smaller company with a market capitalization of €457m, so it may still be flying under the radar of many institutional investors. … Taking a look at our data on the ownership groups (below), it's seems that institutional investors have bought into the company. … As you can see, institutional investors own 40% of Esker.

Simply Wall St -

Esker SA (EPA:ALESK): Is It A Good Long Term Opportunity?

Investors may find it useful to understand how market analysts perceive Esker's earnings growth outlook over the next couple of years and whether the future looks even brighter than the past. … View our latest analysis for Esker Analysts' expectations for this coming year seems buoyant, with earnings growing by a robust 19%. … ENXTPA:ALESK Past and Future Earnings, August 3rd 2019 Although it is helpful to understand the growth rate each year relative to today’s level, it may be more insightful to analyze the rate at which the company is growing on average every year.

Simply Wall St -

Here's Why We Think Esker (EPA:ALESK) Is Well Worth Watching

As a result, I'm encouraged by the fact that insiders own Esker shares worth a considerable sum. … Although Esker certainly looks good to me, I would like it more if insiders were buying up shares. … If you like to see insider buying, too, then this free list of growing companies that insiders are buying, could be exactly what you're looking for.

Simply Wall St -

Esker SA (EPA:ALESK): Will The Growth Last?

Based on Esker SA's (EPA:ALESK) earnings update in December 2018, analyst consensus outlook appear cautiously optimistic, with profits predicted to increase by 20% next year relative to the past 5-year average growth rate of 15%. … I've plotted out each year's earnings expectations and inserted a line of best fit to calculate an annual growth rate from the slope in order to understand the overall trajectory of ALESK's earnings growth over these next few years. … ENXTPA:ALESK Past and Future Earnings, July 18th 2019 This results in an annual growth rate of 19% based on the most recent earnings level of €8.8m to the final forecast of €16m by 2022.

Simply Wall St -

Did Esker SA's (EPA:ALESK) Recent Earnings Growth Beat The Trend?

After reading Esker SA's (EPA:ALESK) latest earnings update (31 December 2018), I found it beneficial to look back at how the company has performed in the past and compare this against the most recent numbers. … View our latest analysis for Esker How Well Did ALESK Perform? … I recommend you continue to research Esker to get a better picture of the stock by looking at: Future Outlook: What are well-informed industry analysts predicting for ALESK’s future growth?

Simply Wall St -

Is Esker SA (EPA:ALESK) Overpaying Its CEO?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … View our latest analysis for Esker How Does Jean-Michel Bérard's Compensation Compare With Similar Sized Companies? … When we examined a selection of companies with market caps ranging from €176m to €703m, we found the median CEO total compensation was €368k.

Simply Wall St -

Is Esker SA's (EPA:ALESK) CEO Salary Justified?

This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … See our latest analysis for Esker How Does Jean-Michel Bérard's Compensation Compare With Similar Sized Companies? … When we examined a selection of companies with market caps ranging from €176m to €703m, we found the median CEO total compensation was €368k.

Simply Wall St -

Esker SA (EPA:ALESK) Earns A Nice Return On Capital Employed

In particular, we'll consider its Return On Capital Employed (ROCE), as that can give us insight into how profitably the company is able to employ capital in its business. … Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Esker: 0.18 = €12m ÷ (€89m - €24m) (Based on the trailing twelve months to December 2018.) So, Esker has an ROCE of 18%. … Due to the way ROCE is calculated, a high level of current liabilities makes a company look as though it has less capital employed, and thus can (sometimes unfairly) boost the ROCE.

Simply Wall St -

ALESK Company Info

Description

Esker SA provides document processing automation solutions in France and internationally. It offers financial and customer service departments digitally transform their order-to-cash and purchase-to-pay cycles. The company provides document automation technologies, including Esker on Demand, a cloud-based document process and information exchange service that enables companies to automate business documents; Esker DeliveryWare, a license-based document process automation product; Esker Fax/VSI-Fax, which integrates fax with enterprise applications and messaging platforms; and FlyDoc for the delivery of mail on demand. The company also offers host access products to support the host access needs; and business process outsourcing solution that handles order and invoice data processing and validation. In addition, it provides maintenance services and related services, such as training and installation assistance; and outsourcing of fax and mail services; and fax boards. The company serves the life sciences, manufacturing, food and beverage, electronics, and chemical industries. Esker SA was founded in 1985 and is headquartered in Lyon, France.

Details
Name: Esker SA
ALESK
Exchange: ENXTPA
Founded: 1985
€476,138,644
5,504,493
Website: http://www.esker.fr
Address: Esker SA
113 Boulevard de Stalingrad,
Villeurbanne,
Lyon,
Rhône-Alpes, 69100,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA ALESK Ordinary Shares Euronext Paris FR EUR 02. Jul 1997
DB EKE Ordinary Shares Deutsche Boerse AG DE EUR 02. Jul 1997
LSE 0RSL Ordinary Shares London Stock Exchange GB EUR 02. Jul 1997
Number of employees
Current staff
Staff numbers
569
Esker employees.
Industry
Application Software
Software
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/11 20:50
End of day share price update: 2019/12/11 00:00
Last estimates confirmation: 2019/11/22
Last earnings filing: 2019/10/28
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


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

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