Safran SA

SAF: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€485.00	Wpjx	Ysczmlmzty

No Change to Safran's Fair Value Estimate as We Model Supply Chain Constraints

Joachim Kotze

Mar 9, 2022

Business Strategy and Outlook

As a leading Tier 1 supplier with high narrow-body aircraft exposure, Safran is well-positioned to benefit from the long-term growth outlook of the aerospace industry. The travel restrictions and economic impact of the coronavirus is a damper on demand for air travel over the medium term, but we believe once growth returns the industry should outperform global GDP growth underpinned by the global wealth effect, especially in Asian markets.

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How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.

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