We maintain our fair value estimate for wide-moat Richemont as the company reported resilient sales trends in the first quarter in a more challenging industry backdrop. At current levels, shares look broadly fairly valued, trading at a small discount to our fair value estimate.
Richemont's jewellery brand is one of the strongest, most profitable, and one of the faster growing in an attractive high-end jewellery niche with a good growth profile and high entry barriers.
Richemont is invested in a number of smaller, lagging brands in apparel and leather that pull down returns on capital.
|
Metric
|
CFR
|
MC
|
UHR
|
|---|---|---|---|
Price/Earnings (Normalized) | 15.72 | 22.63 | 17.69 |
Price/Book Value | 3.95 | 5.03 | 0.76 |
Price/Sales | 3.94 | 3.81 | 1.26 |
Price/Cash Flow | 15.20 | 14.47 | 10.05 |
|
Metric
|
CFR
|
MC
|
UHR
|
|---|---|---|---|
Quick Ratio | 1.80 | 0.59 | 1.95 |
Current Ratio | 2.65 | 1.38 | 8.19 |
Interest Coverage | 10.78 | 18.54 | 221.33 |
|
Metric
|
CFR
|
MC
|
UHR
|
|---|---|---|---|
Return on Assets (Normalized) | 8.89% | 10.45% | 3.80% |
Return on Equity (Normalized) | 18.94% | 24.35% | 4.45% |
Return on Invested Capital (Normalized) | 10.39% | 15.27% | 4.04% |
|
1-Day Chart
|
Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|---|
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