Financials Bureau Veritas SA

Equities

BVI

FR0006174348

Business Support Services

Market Closed - Euronext Paris 11:35:23 2024-04-26 am EDT 5-day change 1st Jan Change
27.68 EUR +1.32% Intraday chart for Bureau Veritas SA +1.10% +21.03%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 10,392 9,769 13,190 11,135 10,375 12,558 - -
Enterprise Value (EV) 1 12,201 11,101 14,242 12,110 11,311 13,652 13,450 13,186
P/E ratio 28 x 77.7 x 31.7 x 24.1 x 20.8 x 22.2 x 20.5 x 18.8 x
Yield 2.41% 1.65% 1.82% 3.13% 3.63% 3.21% 3.43% 3.79%
Capitalization / Revenue 2.04 x 2.12 x 2.65 x 1.97 x 1.77 x 2.03 x 1.92 x 1.8 x
EV / Revenue 2.39 x 2.41 x 2.86 x 2.14 x 1.93 x 2.21 x 2.05 x 1.89 x
EV / EBITDA 11.5 x 13.1 x 14.1 x 10.7 x 9.71 x 10.9 x 10.1 x 9.11 x
EV / FCF 17.6 x 15.4 x 21.1 x 17.1 x 17.2 x 20.1 x 18.6 x 17.2 x
FCF Yield 5.68% 6.49% 4.75% 5.86% 5.83% 4.97% 5.38% 5.8%
Price to Book 8.14 x 7.9 x 8.06 x 5.77 x 5.35 x 6 x 5.5 x 5.02 x
Nbr of stocks (in thousands) 446,765 448,945 452,037 452,445 453,664 453,695 - -
Reference price 2 23.26 21.76 29.18 24.61 22.87 27.68 27.68 27.68
Announcement Date 2/27/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 5,100 4,601 4,981 5,651 5,868 6,188 6,556 6,964
EBITDA 1 1,057 845.1 1,013 1,134 1,165 1,256 1,328 1,447
EBIT 1 831.5 615 801.8 902.1 930.2 982.4 1,057 1,183
Operating Margin 16.3% 13.37% 16.1% 15.96% 15.85% 15.88% 16.12% 16.98%
Earnings before Tax (EBT) 1 603.3 269.7 645.5 718 756.6 861.9 937 1,062
Net income 1 367.9 125.3 420.9 466.7 503.7 563.1 610.8 665.5
Net margin 7.21% 2.72% 8.45% 8.26% 8.58% 9.1% 9.32% 9.56%
EPS 2 0.8300 0.2800 0.9200 1.020 1.100 1.247 1.349 1.471
Free Cash Flow 1 692.5 720.8 676.2 709.3 659.1 678.3 723.7 764.9
FCF margin 13.58% 15.67% 13.58% 12.55% 11.23% 10.96% 11.04% 10.98%
FCF Conversion (EBITDA) 65.52% 85.29% 66.76% 62.58% 56.59% 54.02% 54.49% 52.85%
FCF Conversion (Net income) 188.23% 575.26% 160.66% 151.98% 130.85% 120.45% 118.49% 114.94%
Dividend per Share 2 0.5600 0.3600 0.5300 0.7700 0.8300 0.8896 0.9499 1.050
Announcement Date 2/27/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2019 S2 2020 S1 2020 S2 2021 S1 2021 Q3 2021 Q4 2021 S2 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2022 S2 2023 Q1 2023 S1 2023 Q3 2023 Q4 2023 S2 2024 Q1 2024 S1 2024 S2 2025 S1 2025 S2
Net sales 1 2,623 2,200 2,400 2,418 1,246 1,317 2,563 1,290 1,403 2,693 1,457 1,500 2,957 1,404 2,904 1,424 1,540 2,964 1,440 2,989 3,171 3,190 3,372
EBITDA - - - - - - - - - 517.7 - - - - 548.5 - - 616.1 - - - - -
EBIT 451 215.8 399.2 378.2 - - 423.6 - - 410.9 - - 491.2 - 434.2 - - 496 - - - - -
Operating Margin 17.19% 9.81% 16.63% 15.64% - - 16.53% - - 15.26% - - 16.61% - 14.95% - - 16.74% - - - - -
Earnings before Tax (EBT) - - - - - - - - - - - - - - - - - - - - - - -
Net income - - - - - - - - - - - - - - 232.5 - - 271.2 - - - - -
Net margin - - - - - - - - - - - - - - 8.01% - - 9.15% - - - - -
EPS - - - - - - - - - - - - - - - - - 0.5900 - - - - -
Dividend per Share - - - - - - - - - - - - - - - - - - - - - - -
Announcement Date 2/27/20 7/28/20 2/25/21 7/28/21 10/26/21 2/24/22 2/24/22 4/21/22 7/28/22 7/28/22 10/26/22 2/23/23 2/23/23 4/20/23 7/26/23 10/25/23 2/22/24 2/22/24 4/25/24 - - - -
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,810 1,332 1,051 975 936 1,094 892 628
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 1.712 x 1.576 x 1.038 x 0.8604 x 0.8039 x 0.8711 x 0.6716 x 0.434 x
Free Cash Flow 1 693 721 676 709 659 678 724 765
ROE (net income / shareholders' equity) 33.1% 22.8% 33.4% 29.4% 26.5% 30.6% 30.1% 31.4%
ROA (Net income/ Total Assets) 5.6% 4.19% 7.22% 7.7% 7.32% 9.3% 8.83% 9.25%
Assets 1 6,573 2,990 5,830 6,063 6,882 6,058 6,916 7,193
Book Value Per Share 2 2.860 2.760 3.620 4.260 4.270 4.610 5.030 5.520
Cash Flow per Share 2 1.840 1.800 1.750 1.850 1.810 1.690 1.860 1.890
Capex 1 123 88.3 115 126 144 165 171 184
Capex / Sales 2.41% 1.92% 2.3% 2.22% 2.45% 2.66% 2.61% 2.65%
Announcement Date 2/27/20 2/25/21 2/24/22 2/23/23 2/22/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
A-
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
18
Last Close Price
27.68 EUR
Average target price
30.78 EUR
Spread / Average Target
+11.21%
Consensus

Quarterly revenue - Rate of surprise

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