Financials HighCo

Equities

HCO

FR0000054231

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Market Closed - Euronext Paris Other stock markets 11:35:16 2024-04-26 am EDT			5-day change	1st Jan Change
3.17 ^EUR	+6.38%		+7.46%	-15.47%

Apr. 16	High Co. SA Reports Earnings Results for the Full Year Ended December 31, 2023	CI
Mar. 27	High Co. SA Proposes Dividend for the Fiscal Year 2023, Payable on 28 May 2024	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	126.5	99.6	103.1	97.16	74.72	62.62	-	-
Enterprise Value (EV) ¹	64.14	22.64	29.4	27.16	74.72	19.52	17.32	29.62
P/E ratio	13.5 x	22.8 x	9.24 x	52.8 x	-	12.9 x	11.5 x	12.7 x
Yield	-	5.64%	6.4%	8.42%	5.33%	6.31%	7.89%	6.31%
Capitalization / Revenue	1.33 x	0.73 x	0.75 x	0.66 x	0.51 x	0.5 x	0.52 x	0.52 x
EV / Revenue	0.67 x	0.17 x	0.21 x	0.19 x	0.51 x	0.15 x	0.14 x	0.25 x
EV / EBITDA	2.69 x	1.12 x	1.28 x	0.98 x	-	1.56 x	1.48 x	3.15 x
EV / FCF	2.71 x	1.37 x	3.04 x	2.77 x	-	2.87 x	2.34 x	4.78 x
FCF Yield	36.9%	72.7%	32.9%	36.1%	-	34.8%	42.7%	20.9%
Price to Book	1.4 x	1.08 x	1.07 x	1.08 x	-	0.71 x	0.7 x	0.68 x
Nbr of stocks (in thousands)	20,809	20,793	20,622	20,455	19,926	19,754	-	-
Reference price ²	6.080	4.790	5.000	4.750	3.750	3.170	3.170	3.170
Announcement Date	3/24/20	3/23/21	3/22/22	1/25/23	1/24/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	95.22	136.4	137.4	146.4	145.4	126	121	120
EBITDA ¹	23.88	20.13	22.98	27.67	-	12.5	11.73	9.4
EBIT ¹	16.54	12.18	14.82	15.15	15.85	9.467	8.767	7.55
Operating Margin	17.37%	8.93%	10.79%	10.35%	10.9%	7.51%	7.25%	6.29%
Earnings before Tax (EBT) ¹	16.2	11.71	16.98	-	-	9.35	8.9	7.1
Net income ¹	9.32	4.27	11.19	1.794	11.12	5.267	5.067	4.3
Net margin	9.79%	3.13%	8.14%	1.23%	7.65%	4.18%	4.19%	3.58%
EPS ²	0.4500	0.2100	0.5412	0.0900	-	0.2450	0.2750	0.2500
Free Cash Flow ¹	23.68	16.47	9.68	9.807	-	6.8	7.4	6.2
FCF margin	24.87%	12.07%	7.05%	6.7%	-	5.4%	6.12%	5.17%
FCF Conversion (EBITDA)	99.15%	81.8%	42.13%	35.44%	-	54.4%	63.07%	65.96%
FCF Conversion (Net income)	254.05%	385.62%	86.51%	546.66%	-	129.11%	146.05%	144.19%
Dividend per Share ²	-	0.2700	0.3200	0.4000	0.2000	0.2000	0.2500	0.2000
Announcement Date	3/24/20	3/23/21	3/22/22	1/25/23	1/24/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2021 S1	2022 Q1	2022 Q2	2022 S1	2022 S2	2023 S1	2023 S2	2024 Q1
Net sales ¹	-	73.4	69.2	36.33	36.33	72.7	-	76.39	-	17.6
EBITDA	-	-	-	-	-	-	-	-	-	-
EBIT	4.539	-	9.28	-	-	9.36	5.786	9.52	6.33	-
Operating Margin	-	-	13.41%	-	-	12.87%	-	12.46%	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-
Net income	-	4.13	5.89	-	-	-	-	-	-	-
Net margin	-	5.63%	8.51%	-	-	-	-	-	-	-
EPS	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-
Announcement Date	3/24/20	8/26/20	8/25/21	4/25/22	7/25/22	-	1/25/23	-	1/24/24	-

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	62.4	77	73.7	70	-	43.1	45.3	33
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	23.7	16.5	9.68	9.81	-	6.8	7.4	6.2
ROE (net income / shareholders' equity)	10.7%	4.71%	11.9%	9.89%	-	7.77%	7.4%	5.3%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	4.330	4.430	4.670	4.410	-	4.440	4.510	4.650
Cash Flow per Share ²	0.8500	0.9300	0.8900	0.7800	-	0.5000	0.6000	-
Capex ¹	2.21	2.96	1.06	1.16	-	1.35	1.9	3.5
Capex / Sales	2.32%	2.17%	0.77%	0.79%	-	1.07%	1.57%	2.92%
Announcement Date	3/24/20	3/23/21	3/22/22	1/25/23	1/24/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for HighCo

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

3.17 EUR

Average target price

3.15 EUR

Spread / Average Target

-0.63%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Marketing Consulting Services

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