Coface SA (FR:COFA)
:COFA
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Coface SA
(COFA)
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Rating:74Outperform
Price Target:
€18.50
▲(16.87% Upside)
Action:Upgraded
Date:05/16/26
The score is driven by attractive valuation (low P/E and high dividend yield) and supportive technical trend (price above key moving averages with positive MACD). Offsetting these positives, financial performance is mixed: strong TTM revenue growth but margin compression, meaningful leverage, and weakening operating/free cash flow.
Positive Factors
Diversified revenue model
Coface’s core earnings derive from recurring trade-credit premiums, supplemented by investment returns and fee income from credit data and collection services. This multi-source model smooths cyclicality, supports steady cash conversion and cross-sell opportunities, and underpins durable revenue resilience.
Negative Factors
Meaningful leverage
Debt slightly above equity (D/E ~1.10) constrains capital flexibility; higher leverage magnifies earnings volatility in underwriting or claims shocks and limits the company’s headroom to absorb adverse loss reserves or to accelerate investments without increasing financing costs.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue model
Coface’s core earnings derive from recurring trade-credit premiums, supplemented by investment returns and fee income from credit data and collection services. This multi-source model smooths cyclicality, supports steady cash conversion and cross-sell opportunities, and underpins durable revenue resilience.
Read all positive factors
Coface SA (COFA) vs. iShares MSCI France ETF (EWQ)
Market Cap
€2.20B
Dividend Yield9.02%
Average Volume (3M)169.90K
Price to Earnings (P/E)10.4
Beta (1Y)0.74
Revenue Growth-1.16%
EPS Growth-16.17%
CountryFR
Employees4,960
SectorGeneral
Sector StrengthN/A
IndustryInsurance - Reinsurance
Share Statistics
EPS (TTM)1.43
Shares Outstanding150,179,800
10 Day Avg. Volume179,066
30 Day Avg. Volume169,903
Financial Highlights & Ratios
PEG Ratio-0.71
Price to Book (P/B)1.06
Price to Sales (P/S)1.23
P/FCF Ratio14.58
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€17.00Price Target Upside7.39% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)1.56
Revenue Forecast (FY)€1.75B
Coface SA Business Overview & Revenue Model
Company Description
COFACE SA, through its subsidiaries, provides credit insurance products and related services for microenterprises, small and medium enterprises, mid-market companies, international corporations, financial institutions, and clients of distribution ...
How the Company Makes Money
Coface primarily makes money by underwriting trade credit insurance policies for corporate clients. Customers pay insurance premiums (typically priced based on factors such as buyer risk, portfolio composition, country/sector exposure, and coverag...
Coface SA Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
63
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.79B | 1.90B | 1.65B | 1.60B | 1.57B | 1.28B |
| Gross Profit | 1.69B | 1.90B | 1.45B | 1.40B | 1.40B | 1.01B |
| EBITDA | 357.18M | 366.34M | 446.74M | 403.60M | 397.96M | 343.02M |
| Net Income | 213.54M | 222.00M | 261.07M | 240.50M | 240.44M | 223.82M |
Balance Sheet | ||||||
| Total Assets | 8.49B | 8.09B | 8.08B | 7.90B | 7.59B | 7.27B |
| Cash, Cash Equivalents and Short-Term Investments | 472.82M | 3.21B | 3.22B | 2.86B | 3.46B | 3.48B |
| Total Debt | 2.49B | 2.34B | 2.39B | 2.56B | 2.40B | 1.97B |
| Total Liabilities | 6.24B | 5.87B | 5.89B | 5.85B | 5.57B | 5.04B |
| Stockholders Equity | 2.25B | 2.21B | 2.19B | 2.05B | 2.02B | 2.23B |
Cash Flow | ||||||
| Free Cash Flow | 137.90M | 160.45M | 326.65M | 268.82M | 416.95M | 309.79M |
| Operating Cash Flow | 175.75M | 196.06M | 353.36M | 294.27M | 449.19M | 326.96M |
| Investing Cash Flow | 58.98M | 29.45M | 134.17M | -327.82M | -124.40M | -207.94M |
| Financing Cash Flow | -219.15M | -220.11M | -490.78M | 13.93M | -142.69M | -134.36M |
Coface SA Technical Analysis
Positive
15.83
Price Trends
14.58
Positive
14.44
Positive
14.37
Positive
Market Momentum
0.11
Positive
49.01
Neutral
6.04
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:COFA, the sentiment is Positive. The current price of 15.83 is above the 20-day moving average (MA) of 14.99, above the 50-day MA of 14.58, and above the 200-day MA of 14.37, indicating a neutral trend. The MACD of 0.11 indicates Positive momentum. The RSI at 49.01 is Neutral, neither overbought nor oversold. The STOCH value of 6.04 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:COFA.
Coface SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €2.20B | 10.40 | 10.78% | 9.02% | -1.16% | -16.17% | |
73 Outperform | €81.88B | 10.25 | 17.06% | 5.23% | 1.13% | 29.62% | |
73 Outperform | €11.23B | 19.08 | 42.80% | 3.32% | 3.61% | 4.19% | |
73 Outperform | €5.43B | 6.19 | 20.25% | 6.35% | -5.45% | 10561.96% | |
68 Neutral | €104.31B | 8.92 | 9.43% | 9.16% | -4.91% | 7.63% | |
57 Neutral | €913.13M | 13.53 | 2.58% | 2.14% | -7.49% | 23.13% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
FR:COFA
Coface SA
14.79
-0.43
-2.84%
FR:CS
AXA SA
39.78
0.03
0.08%
FR:BNP
BNP Paribas
94.43
21.91
30.21%
FR:BVI
Bureau Veritas
25.32
-2.74
-9.76%
FR:CAF
CRCAM dlle-de France
114.88
45.31
65.14%
FR:SCR
SCOR
30.34
3.06
11.21%
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.