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Criteo SA ADR CRTO

Morningstar Rating
$32.95 +1.49 (4.74%)
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Company Report

Criteo Earnings: Dependency on Retargeting Declining While Retail Media Demand Remains Strong

We are raising our Criteo fair value estimate to $42 from $41 as the firm exceeded fourth-quarter expectations and is becoming less reliant on retargeting revenue. Also, while we do not view Criteo’s underlying advertising technology as bearing a switching cost moat source, we are now more confident about the firm’s ability to accelerate organic revenue growth—excluding the challenges from the phasing-out of cookies this year and in 2025—because of 1) the integration of technology with clients’ data; 2) the ongoing improvement of algorithms based on new data; 3) the firm’s comprehensive demand- and supply-side offerings; and 4) its contracts that last at least two years on average.

Price vs Fair Value

CRTO is trading at a 22% discount.
Price
$32.95
Fair Value
$55.00
Uncertainty
Very High
1-Star Price
$35.70
5-Star Price
$74.00
Economic Moat
Twtq
Capital Allocation
Cjswlky

Bulls Say, Bears Say

Bulls

With a focus on delivering high returns on investment for its clients, Criteo should be one of the main beneficiaries of a shift to digital ad dollars in retail and other verticals.

Bears

Increased installations of ad-blocking software could reduce Criteo's revenue drastically if they were to eliminate the Criteo Engine’s effectiveness.

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News

Trading Information

Previous Close Price
$31.46
Day Range
$31.4334.59
52-Week Range
$22.1035.29
Bid/Ask
$13.26 / $52.39
Market Cap
$1.84 Bil
Volume/Avg
671,488 / 328,821

Key Statistics

Price/Earnings (Normalized)
13.15
Price/Sales
0.98
Dividend Yield (Trailing)
Dividend Yield (Forward)
Total Yield
6.83%

Company Profile

Headquartered in Paris, Criteo is one of the leading ad-tech companies in the digital advertising market. Its technology, allows retailer advertisers to launch multichannel and cross-device marketing campaigns in real time. With real-time return on investment analysis of the ads, the firm’s clients can adjust their marketing strategies dynamically. The firm also provides technology allowing retailers to effectively manage their ad inventories and improve yield optimization.
Sector
Communication Services
Industry
Advertising Agencies
Stock Style Box
Total Number of Employees
3,716

Competitors

Valuation

Metric
CRTO
BFH
META
Price/Earnings (Normalized)
13.154.5829.50
Price/Book Value
1.650.647.91
Price/Sales
0.980.469.22
Price/Cash Flow
12.150.9818.49
Price/Earnings
CRTO
BFH
META

Financial Strength

Metric
CRTO
BFH
META
Quick Ratio
1.002.55
Current Ratio
1.122.67
Interest Coverage
18.70103.67
Quick Ratio
CRTO
BFH
META

Profitability

Metric
CRTO
BFH
META
Return on Assets (Normalized)
6.97%3.39%25.74%
Return on Equity (Normalized)
14.84%28.54%38.69%
Return on Invested Capital (Normalized)
12.84%30.60%
Return on Assets
CRTO
BFH
META
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