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1. Company Snapshot

1.a. Company Description

Roche Bobois S.A. engages in the furniture design and distribution business worldwide.It provides living room products, such as sofas and sofa beds, coffee tables, armchairs, wall arrangements, cocktail tables, TV units, bookcases, cabinets, sideboards, consoles, and occasional furniture; dining room products, including chairs, stools, benches, dining tables, columns, dressers, and dining room storage products; desks; bed room products comprising beds, wardrobes, bedside tables, and other bedroom furniture products; outdoor furniture products; and lights, cushions, rugs, decorative objects, and home furnishings, as well as other furniture products.The company offers its products under the Roche Bobois and Cuir Center brands.


It operates 337 owned and franchised stores in 54 countries worldwide, as well as an online store.The company was formerly known as Furn-Invest S.A.S. Roche Bobois S.A. was founded in 1960 and is headquartered in Paris, France.

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1.b. Last Insights on RBO

Roche Bobois S.A.'s recent performance was impacted by a shift towards online sales in the luxury design sector. According to the Pambianco Design Summit, online channels generated 12% of total sales for top brands in 2024. This trend may affect Roche Bobois' traditional brick-and-mortar sales. Furthermore, the company faces a changing business landscape, with design leaders adapting to e-commerce growth. No recent earnings release or share buyback announcements were found to offset this trend. (Source: Pambianco Design Summit)

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.65%)

6. Segments

Roche Bobois USA/Canada

Expected Growth: 2.5%

Roche Bobois USA/Canada's 2.5% growth is driven by increasing demand for luxury furniture, expansion into new markets, and strategic partnerships. The brand's focus on high-quality, customizable products and exceptional customer service also contribute to its growth. Additionally, the company's e-commerce platform and targeted marketing efforts help to reach a wider audience and drive sales.

Roche Bobois France

Expected Growth: 2.8%

Roche Bobois France's 2.8% growth is driven by increasing demand for luxury furniture, expansion into new markets, and strategic partnerships. The French market's growing appetite for high-end home decor, coupled with the company's strong brand reputation and innovative designs, contribute to its steady growth.

Roche Bobois Europe

Expected Growth: 2.9%

Roche Bobois Europe's 2.9% growth is driven by increasing demand for premium furniture, expansion into new markets, and strategic partnerships. The segment benefits from a strong brand reputation, high-quality products, and a growing middle class with increasing disposable income. Additionally, the company's focus on e-commerce and digital marketing contributes to its growth momentum.

Leather Center

Expected Growth: 2.2%

The 2.2% growth of Leather Center from Roche Bobois S.A. is driven by increasing demand for premium home furnishings, rising disposable incomes, and a growing middle class. Additionally, the company's focus on innovative designs, high-quality materials, and strong brand reputation contribute to its growth.

Roche Bobois Others

Expected Growth: 2.6%

Roche Bobois Others' 2.6% growth is driven by increasing demand for premium home furnishings, expansion into new markets, and strategic partnerships. The segment benefits from the company's strong brand reputation, high-quality products, and effective marketing strategies. Additionally, the growing trend of home decoration and renovation, particularly among affluent consumers, contributes to the segment's growth.

Corporate

Expected Growth: 2.1%

Roche Bobois S.A.'s 2.1% corporate growth is driven by increasing demand for luxury furniture, expansion into new markets, and strategic partnerships. The company's focus on high-end, customizable products and strong brand reputation also contribute to its growth. Additionally, investments in e-commerce and digital marketing have improved customer engagement and driven sales.

7. Detailed Products

Sofas

Customizable sofas designed for comfort and style, available in a wide range of fabrics and leathers.

Armchairs

Elegant and stylish armchairs designed to complement Roche Bobois' sofas, available in various fabrics and leathers.

Coffee Tables

Stylish and functional coffee tables designed to complement Roche Bobois' sofas and armchairs, available in various materials and finishes.

Dining Tables

Elegant and stylish dining tables designed to accommodate large gatherings, available in various materials and finishes.

Bedroom Furniture

Stylish and comfortable bedroom furniture, including beds, dressers, and nightstands, available in various materials and finishes.

Home Office Furniture

Functional and stylish home office furniture, including desks, chairs, and bookshelves, available in various materials and finishes.

Lighting

Stylish and functional lighting solutions, including table lamps, floor lamps, and ceiling lights, available in various materials and finishes.

Textiles

Exclusive and stylish textiles, including fabrics, leathers, and rugs, available in various patterns, colors, and materials.

8. Roche Bobois S.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Roche Bobois S.A. operates in the luxury furniture industry, where substitutes are limited. However, there is a growing trend towards sustainable and eco-friendly furniture, which could pose a threat to the company's traditional business model.

Bargaining Power Of Customers

Roche Bobois S.A. targets high-end customers who are less price-sensitive and more focused on quality and design. This reduces the bargaining power of customers.

Bargaining Power Of Suppliers

Roche Bobois S.A. relies on a network of suppliers for raw materials and components. While the company has some bargaining power due to its size, suppliers may still have some leverage due to the specialized nature of the industry.

Threat Of New Entrants

The luxury furniture industry has high barriers to entry, including significant capital requirements and the need for specialized skills and knowledge. This limits the threat of new entrants.

Intensity Of Rivalry

The luxury furniture industry is highly competitive, with several established players competing for market share. Roche Bobois S.A. must differentiate itself through its brand, design, and quality to maintain its market position.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 66.62%
Debt Cost 3.95%
Equity Weight 33.38%
Equity Cost 7.97%
WACC 5.29%
Leverage 199.57%

11. Quality Control: Roche Bobois S.A. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Cairn Homes

A-Score: 6.3/10

Value: 6.4

Growth: 8.4

Quality: 6.4

Yield: 6.9

Momentum: 4.0

Volatility: 6.0

1-Year Total Return ->

Stock-Card
Wickes

A-Score: 6.1/10

Value: 6.1

Growth: 4.1

Quality: 3.3

Yield: 8.8

Momentum: 8.5

Volatility: 6.0

1-Year Total Return ->

Stock-Card
Villeroy & Boch

A-Score: 5.6/10

Value: 7.7

Growth: 3.9

Quality: 3.2

Yield: 8.8

Momentum: 3.0

Volatility: 7.3

1-Year Total Return ->

Stock-Card
DFS

A-Score: 5.4/10

Value: 7.8

Growth: 5.0

Quality: 4.2

Yield: 3.8

Momentum: 6.5

Volatility: 5.0

1-Year Total Return ->

Stock-Card
Roche Bobois

A-Score: 4.5/10

Value: 5.4

Growth: 4.0

Quality: 4.0

Yield: 6.9

Momentum: 1.0

Volatility: 6.0

1-Year Total Return ->

Stock-Card
Nobia

A-Score: 3.2/10

Value: 8.5

Growth: 0.2

Quality: 0.8

Yield: 5.0

Momentum: 4.0

Volatility: 0.7

1-Year Total Return ->

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

35.0$

Current Price

35$

Potential

-0.00%

Expected Cash-Flows