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French global trade-credit insurer protecting companies against customer non-payment, also offering factoring and business-information services.
French global trade-credit insurer protecting companies against customer non-payment, also offering factoring and business-information services.
Earns premiums based on the sales volume customers insure, paid before any claim, with claims depending on how many of their buyers fail to pay; it also sells collection and business-information services. Results therefore swing with the corporate insolvency cycle. It was part of Natixis before its 2014 listing.
In one line: A French Allianz Trade-style peer for trade credit.
Moat: narrow (data, scale, brand). Deep proprietary buyer-risk database built over decades gives underwriting edge, in a concentrated global market.
Headquarters: Paris, France · Founded: 1946 · Employees: 5,511
Size Coface (COFA.PA) is a France Financials company (Specialty Insurance) with a market value of $2.65B, the 94th largest of 206 France companies the cockpit tracks. Shares closed at €15.87 on 6 Nov 2026.
Performance Over six months the shares fell 3.7%, against -5.5% for the median peer and -0.4% for the France market (cap-weighted) — 6th highest of 12 in its peer set.
Growth Revenue grew 1.5% over the last twelve months (peer median +4.5%); the operating margin is 16.1% (peer median 21.0%).
Valuation It trades at 1.11× book value against a peer median of 1.01× (6th most expensive of 12).
Price implies The share price implies a return on equity of about 8.8%; Coface delivers 9.4%, so the price asks less than the business earns today.
Credit Coface has 1 bond outstanding ($334M), rated BBB+ by the agencies and trading like BB+ at a weighted spread of 170 bp.
Next results Next results expected around 19 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €1.95B | €1.90B | €1.92B | €1.87B | €1.82B |
| Revenue growth | — | -1% | +3% | +3% | — |
| Net income | €201M | €222M | €261M | €240M | €240M |
| Free cash flow | €185M | €160M | €277M | €237M | €391M |
| Capital expenditure | €41.7M | €35.6M | €26.7M | €25.4M | €32.8M |
| Total debt | €2.73B | €2.34B | €2.38B | €660M | €597M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Coface COFA.PA | $2.65B | -4% | +1% | 9% | 1.11× | 8.8% |
| Allianz ALV.DE | $192B | +19% | +21% | 21% | 2.98× | 16.0% |
| QBE Insurance QBE.AX | $27.7B | +19% | +3% | 19% | 2.37× | 11.3% |
| American International AIG | $40.7B | +2% | +1% | 8% | 1.04× | 7.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | COFA.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +2.9% | +3.7% | 6th lowest of 12 |
| 6-month return | -3.7% | -5.5% | 6th highest of 12 |
| Return on equity | 9.4% | 13.7% | 4th lowest of 12 |
| Price / book | 1.11× | 1.01× | 6th most expensive of 12 |
| Trailing P/E | 11.8× | 9.2× | 3rd most expensive of 12 |
| ROE the price implies | 8.8% | 8.9% | 6th least demanding of 12 |
| ROE delivered | 9.4% | 13.7% | 4th lowest of 12 |
| Bond spread | 170 bp | 119 bp | 2nd widest of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Coface COFA.PA | France | $2.65B | -4% | +1% | 9% | 1.11× | 8.8% | 9.4% |
| Assured Guaranty AGO | United States | $3.23B | -2% | +3% | 6% | 0.58× | 6.0% | 6.3% |
| Radian RDN | United States | $4.76B | -5% | +28% | 12% | 1.00× | 8.3% | 12.0% |
| Stewart Information Services STC | United States | $1.43B | -33% | +21% | 8% | 0.86× | 9.0% | 7.7% |
| Essent ESNT | United States | $5.70B | 0% | +4% | 12% | 1.01× | 8.5% | 12.0% |
| General Insurance Corporation of India GICRE.NS | India | $6.37B | -14% | -1% | 9% | 0.60× | 8.9% | 9.1% |
| First American Financial FAF | United States | $6.84B | -6% | +14% | 14% | 1.27× | 13.2% | 13.7% |
| Trisura TSU.TO | Canada | $1,000M | -31% | +1% | 17% | 1.39× | 8.0% | 16.9% |
| Helia HLI.AX | Australia | $942M | +2% | -8% | 22% | 1.53× | 11.8% | 22.1% |
| Conduit CRE.L | United Kingdom | $895M | +2% | +4% | 20% | 0.79× | 7.6% | 19.9% |
| ICICI Lombard General Insurance ICICIGI.NS | India | $8.80B | -11% | +14% | 15% | 4.38× | 53.9% | 14.7% |
| Old Republic International ORI | United States | $9.50B | +1% | +11% | 18% | 1.62× | 10.4% | 17.9% |
Coface has 1 bond outstanding with $334M face value. The agencies rate it BBB+; its bonds trade like BB+. Weighted yield 4.79%, a spread of 170 bp over government bonds.