Coface COFA.PA
FranceFinancial Services · Insurance - ReinsuranceEuronext París · EUR
18.25 EUR (+17.3%)
4 analysts
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Coface is a credit insurer that protects companies against the risk of non-payment by their clients, also offering receivables management and business information services.
Listed on Euronext París · Symbol COFA.PA · EPA: COFA · Currency EUR
Key points
from its scores- ✓Attractive dividend7.8
- ✓Favourable backdrop7.2
- ✕Weak growth3.8
- ✕Fragile balance sheet4.9
- !Weak share-price trend5.5
AI analysis
bottom line, main risk, context and newsThe dividend is attractive, but negative growth and a high payout warrant caution; it would only be a buy if the earnings trend improves.
Coface offers a very attractive dividend yield (8.03% net) and a reasonable valuation (P/E 11.28), but earnings growth is negative (-12.20%) and the payout is very high (90.58%), limiting its ability to sustain the dividend if claims increase.
The main risk is the cyclical nature of the credit insurance business: an economic downturn or an increase in corporate defaults could raise claims and erode margins, putting pressure on the generous dividend.
Context and risks
Coface operates in the highly cyclical credit insurance sector, sensitive to corporate default trends. Although its balance sheet is solid, the combination of rising interest rates in Europe and persistent geopolitical uncertainty (Strait of Hormuz closure) could increase claims and compress margins. Regulatory risk in France, with perceived weak governance, adds a layer of uncertainty regarding minority shareholder protection.
Is Coface stock cheap or expensive?
at the analysis dateOn P/E and Price / book, it trades 30% below the Financial Services median on average.
| Multiple | Company | Sector | Difference |
|---|---|---|---|
| P/E | 11.3 | 13.7 | −18% |
| EV / EBITDA | 14.5 | 10.1 | +44% |
| Price / book | 1.1 | 1.9 | −42% |
| Price / sales | 1.3 | 3.5 | −63% |
Sector: median of the 351 Financial Services companies analysed. In bold, the multiples used for the comparison.
Valuation score: 6.0 out of 10 (median for Financial Services: 5.2).
Average analyst target: 18.25 EUR, +17.3% versus the price.
A discount may reflect more risk or slower growth than its sector: Financial health 4.9 (sector 5.5), Growth 3.8 (sector 6.9).
Classic formulas with standard assumptions (10.0% growth, 8-9% discount rate). Indicative only: they change a lot with the assumptions and are not a recommendation.
Work out its fair value yourself →How much would you have made investing every month? →
Comparing it with its sector does not say whether it is a good buy: this is not investment advice.
Score by category
0 to 10 · hover overtap each one to see what it measuresKey metrics
at the analysis date · compared with the Financial Services medianValuation
- P/E
- 11.3
- Forward P/E
- 9.7
- EV / EBITDA
- 14.5
- Price / book
- 1.1
- Price / sales
- 1.3
- Market cap
- 2.3B EUR
- Enterprise value
- 5.6B EUR
Profitability
- ROE
- 9.7%
- ROA
- 2.8%
- ROIC (approx.)
- 5.4%
- Gross margin
- 59.8%
- Operating margin
- 18.6%
- Net margin
- 11.2%
- Free cash flow
- −1.5B EUR
- FCF yield
- −63.0%
- Cash conversion
- −379%
Solvency
- Total debt
- 4.2B EUR
- Net debt
- 3.3B EUR
- Cash
- 916.9M EUR
- EBITDA
- 386.2M EUR
- Net debt / EBITDA
- 8.47
- Debt / equity
- 193.24
- Current ratio
- 1.43
- Quick ratio
- 1.32
Growth
- Revenue growth
- +3.5%
- Earnings growth
- −12.2%
- EPS (TTM)
- 1.38 EUR
- EPS (forward)
- 1.60 EUR
Dividend
- Dividend yield
- 8.0%
- Payout
- 90.6%
Risk and market
- Beta
- 0.49
- Analyst consensus
- Buy (4)
- Target price
- 18.25 EUR
- 52-week range
- 14.02 – 17.62
Recent news
All COFA.PA news →Compare it with its sector
All 351 in Financial Services →Frequently asked questions about Coface
Is Coface stock cheap or expensive?
On P/E and Price / book, it trades 30% below the Financial Services median on average. Valuation score: 6.0 out of 10 (median for Financial Services: 5.2). Average analyst target: 18.25 EUR, +17.3% versus the price. This is not investment advice.
What score does Coface get on MeridIAn Screener?
It scores 6.3 out of 10, rank 708 of 2,130 (better than 63% of the companies analysed). Its strongest category is Dividend (7.8) and its weakest, Growth (3.8). Analysis of 08/10/2026.
What is Coface's P/E ratio?
Its P/E is 11.3: the share price equals 11.3 times earnings per share over the last 12 months. The Financial Services median is 13.7. Based on the earnings analysts expect, the forward P/E is 9.7.
How much is Coface worth on the stock market?
Its market capitalisation is 2.3B EUR.
Does Coface pay a dividend?
Yes: its dividend yield is 8.03% and it pays out 91% of its earnings.
How has Coface stock performed over the last year?
It has risen 5.2% over the last year, excluding dividends. Over the last 52 weeks it has traded between 14.02 and 17.62 EUR. Past performance does not guarantee future results.
What do analysts think of Coface?
4 analysts cover it; their average recommendation is “Buy” and their average target is 18.25 EUR (+17.3% versus the price). It is an estimate, not market data.