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Credit Agricole SA (CRARY)
:CRARY
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Credit Agricole
(OTC:CRARY)
Select Model
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Rating:80Outperform
Price Target:―
Credit Agricole's stock is robustly supported by strong financial performance in revenue growth and equity position, alongside an attractive valuation with low P/E and high dividend yield. Technical analysis indicates a positive trend, though caution is advised due to high stochastic levels. The earnings call provided a mixed view with record revenues but highlighted taxation and segmental challenges. Overall, the stock is appealing but requires monitoring of cash flow volatility and external financial impacts.
Credit Agricole (CRARY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$57.76B
Dividend Yield6.86%
Average Volume (3M)10.80K
Price to Earnings (P/E)7.5
Beta (1Y)0.34
Revenue Growth-3.47%
EPS Growth15.46%
CountryUS
Employees80,518
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)0.42
Shares Outstanding6,097,577,000
10 Day Avg. Volume11,238
30 Day Avg. Volume10,802
Financial Highlights & Ratios
PEG Ratio0.68
Price to Book (P/B)0.53
Price to Sales (P/S)1.57
P/FCF Ratio-2.34
Enterprise Value/Market Cap10.85
Enterprise Value/Revenue191.49
Enterprise Value/Gross Profit32.58
Enterprise Value/Ebitda55.53
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
Credit Agricole Business Overview & Revenue Model
Company DescriptionCrédit Agricole S.A. (CRARY) is a leading French banking group that operates globally, offering a wide range of financial products and services. It serves retail, corporate, and investment banking sectors, providing services such as personal and business banking, asset management, insurance, and wealth management. With its roots as a cooperative banking institution, Crédit Agricole has expanded its reach internationally while maintaining a strong presence in France, serving millions of clients through a network of local banks and specialized subsidiaries.
How the Company Makes MoneyCrédit Agricole makes money through a diverse revenue model primarily driven by its extensive banking operations. The company generates income from interest on loans and deposits, fees for banking services, and commissions from asset management and insurance products. Crédit Agricole also earns significant revenue from its investment banking activities, which include underwriting, trading, and advisory services for corporate and institutional clients. Additionally, its insurance arm contributes to earnings through premiums collected from a range of life and non-life insurance products. The group's strategic partnerships and joint ventures further bolster its financial performance by expanding its service offerings and client base, thus enhancing its revenue streams.
Credit Agricole Earnings Call Summary
Earnings Call Date:Jul 31, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Oct 30, 2025
Earnings Call Sentiment Positive
The earnings call reflects a positive sentiment with significant achievements in net income growth, strong revenue performance, and successful strategic transactions. However, challenges such as increased cost of risk and leasing production declines were noted.Q2-2025 Updates
Positive Updates
Record Net Income
Crédit Agricole reported a record net income of EUR 2.4 billion this quarter, marking a 30.7% increase. Excluding the impact of Amundi US, net income rose by 14.1%.
Strong Revenue Growth
Revenue grew to EUR 7 billion, up 3.1%, with the cost-to-income ratio at a competitive level of 53.9%. The ROTE ratio is at 16.6% for the half year.
Robust Customer Capture and Activity
Customer capture was strong at 493,000 this quarter, totaling over 1 million for the first half year. Notable growth in retail banking, insurance, and asset management.
High Solvency and Liquidity Reserves
Solvency is high with CASA at 11.9% and the group at 17.6%. Liquidity reserves are at EUR 471 billion.
Insurance and Asset Management Success
Insurance posted a record level of net inflows at EUR 4.2 billion, and asset management saw net inflows of EUR 20 billion, bringing total AUM to a record EUR 2,266 billion.
Strategic Transactions and Acquisitions
Several successful integrations and acquisitions, such as the European asset servicing of RBC and Degroof Petercam, contributing positively to income and synergies.
Negative Updates
Cost of Risk Increase
Cost of risk increased by 4.2% with Stage 3 proven risk slightly up, affecting Personal Finance, Mobility, and some large corporates.
Decreased Production in Leasing
Leasing production was down this quarter, mainly in France, though buoyant internationally.
Impact of Banco BPM on P&L
The planned equity accounting of Banco BPM is expected to have a negative P&L impact of around EUR 200 million.
Net Interest Income Pressure
Net interest income faces pressure due to deposit shift and a less favorable macro hedging contribution.
Company Guidance
During the Crédit Agricole Second Quarter and First Half 2025 Results Conference Call, Clotilde L'Angevin, Deputy General Manager of Crédit Agricole S.A., reported a record net income of EUR 2.4 billion, reflecting a 30.7% increase, driven partly by a capital gain from the deconsolidation of Amundi US. Even without this impact, net income grew by 14.1%. The bank's revenue reached EUR 7 billion, up 3.1%, with a cost-to-income ratio at 53.9%. The ROTE was reported at 16.6%, and solvency ratios were strong, with CASA at 11.9% and the group at 17.6%. Customer capture was robust, totaling over 1 million for the first half of the year. Loan production was dynamic in France and Italy, with substantial growth in home and corporate loans. The insurance sector recorded net inflows of EUR 4.2 billion this quarter, alongside high premium income. Asset management saw net inflows of EUR 20 billion, elevating total AUM to EUR 2,266 billion. The call highlighted ongoing integration processes and strategic transactions, including various acquisitions and partnerships aimed at enhancing the bank's business lines. Looking forward, Crédit Agricole plans to discuss its medium-term outlook during its Capital Markets Day on November 18th.Credit Agricole Financial Statement Overview
Summary
Credit Agricole demonstrates strong revenue growth and a robust equity position, supporting its financial stability. However, the volatility in cash flows and lack of EBIT data in the latest period pose challenges for a full financial assessment. The company's strategic focus appears to be on maintaining a strong capital base, potentially at the expense of leveraging opportunities.Income Statement
Credit Agricole's revenue has shown consistent growth over the years, with a notable increase from €18.06 billion in 2020 to €25.33 billion in 2024. The net profit margin has strengthened, reflecting improved profitability. However, EBIT and EBITDA data for the latest year are missing, limiting a comprehensive analysis of operating efficiencies.78
Positive
Balance Sheet
The company maintains a strong equity position with a high equity ratio consistently above 3%, signaling solid financial health. The absence of total debt in the latest year further strengthens its balance sheet stability, reducing leverage risks. However, this atypical structure for a bank may indicate potential underutilization of financial leverage.85
Very Positive
Cash Flow
Credit Agricole's cash flow has experienced volatility, with operating cash flow swinging from positive to negative figures in recent years. The free cash flow has been negative in 2023 and 2024, which could be a concern if sustained. However, the bank has managed to maintain a positive cash flow trajectory in previous years, suggesting potential for recovery.72
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.27B | 25.33B | 23.49B | 37.61B | 33.07B | 18.06B |
| Gross Profit | 19.24B | 25.33B | 23.45B | 20.65B | 21.03B | 18.06B |
| EBITDA | 11.29B | 0.00 | 10.70B | 8.97B | 9.25B | 0.00 |
| Net Income | 7.57B | 7.09B | 6.35B | 5.31B | 5.84B | 2.69B |
Balance Sheet | ||||||
| Total Assets | 2.31T | 2.31T | 2.19T | 2.14T | 2.07T | 1.96T |
| Cash, Cash Equivalents and Short-Term Investments | 584.68B | 829.24B | 759.17B | 654.92B | 640.85B | 561.87B |
| Total Debt | 313.40B | 315.58B | 185.72B | 141.02B | 161.82B | 171.81B |
| Total Liabilities | 2.23T | 2.23T | 2.11T | 2.06T | 2.00T | 1.89T |
| Stockholders Equity | 75.53B | 74.71B | 71.09B | 66.52B | 68.22B | 65.22B |
Cash Flow | ||||||
| Free Cash Flow | 0.00 | -16.98B | -37.40B | -495.00M | 10.05B | 56.54B |
| Operating Cash Flow | 0.00 | -15.91B | -36.51B | 594.00M | 10.93B | 57.29B |
| Investing Cash Flow | 0.00 | -1.78B | 9.85B | -5.06B | -838.00M | -3.23B |
| Financing Cash Flow | 0.00 | 9.45B | 16.55B | 1.57B | -1.70B | 7.68B |
Credit Agricole Technical Analysis
Neutral
9.46
Price Trends
9.60
Negative
9.50
Negative
8.94
Positive
Market Momentum
-0.04
Positive
45.13
Neutral
10.51
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRARY, the sentiment is Neutral. The current price of 9.46 is below the 20-day moving average (MA) of 9.65, below the 50-day MA of 9.60, and above the 200-day MA of 8.94, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 45.13 is Neutral, neither overbought nor oversold. The STOCH value of 10.51 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CRARY.
Credit Agricole Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | $57.76B | 7.50 | 10.47% | 6.86% | -3.47% | 15.46% | |
| ― | $73.42B | 12.03 | 11.31% | 3.57% | 1.94% | 30.93% | |
| ― | $75.10B | 11.05 | 11.71% | 4.23% | 2.95% | 33.77% | |
| ― | $72.00B | 10.02 | 20.49% | 6.07% | 5.44% | 2.81% | |
| ― | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
| ― | $67.69B | 15.20 | 7.85% | 3.61% | -20.94% | -18.71% | |
| ― | $79.68B | 13.67 | 8.69% | 1.46% | -2.22% | 24.37% |
* Financial Sector Average
CRARY
Credit Agricole
9.50
2.17
29.60%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.