Amundi: Stellar Operational Performance But Muted Organic Growth [Seeking Alpha]
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NASDAQ:AMEX Investor Relations:
credit-agricole.com/en/finance/finance
Company Research
Source: Seeking Alpha
EPS increased 3.6% in 2023 to €6/share, while revenue grew 2.1%. I compare Amundi's performance relative to European peer, DWS, highlighting its efficient business operations but slower growth. The company's conservative capital structure and attractive P/E ratio make it a good income play for investors. Amundi is very expensive on a Price/tangible book basis, hence I rate the shares a hold. Introduction Amundi S.A. ( OTCPK:AMDUF ) recently reported its Q4 2023 results , which I will discuss below. I will also compare the company relative to one of its largest stock-exchange-listed European peers, DWS Group. In brief, I think that Amundi has little room for operational improvement (which is already superb). This coupled with its sizable tangible book premium and slow organic growth makes the company more of an income play via covered calls and cash-secured puts, rather than a growth/rerating story. Hence, I rate the shares a hold. Company Overview You can access Amund
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