VINCI SA
Vinci SA, together with its subsidiaries, engages in concessions, energy, and construction businesses in France and internationally. It operates through Concessions, Energy Solutions, and Construction segments. The company's Concessions segment operates motorways, autoroutes, airports, highways, ra…
Vinci SA, together with its subsidiaries, engages in concessions, energy, and construction businesses in France and internationally. It operates through Concessions, Energy Solutions, and Construction segments. The company's Concessions segment operates motorways, autoroutes, airports, highways, railways, and stadiums. Its Energy segment provides services to the manufacturing sector, infrastructure, building solutions and facilities management, and information and communication technology; and industrial and energy-related services, which includes development of renewable energy assets, as well as engineering, procurement, construction projects in the energy sector, and development of renewable energy production facilities of solar, and wind farms. The company's Construction segment engages in designing and undertaking projects, which includes general contractor; geotechnical, and structural engineering and related digital activities, as well as provision of services in nuclear engineering; undertaking building, civil engineering, roadworks, rail works, and water works; development of properties, including residential and commercial properties; and management of residences and property services. Vinci SA was founded in 1899 and is headquartered in Nanterre, France.Looks undervalued
5-year outlook: Not shown because confidence is low: Earnings-based DCF is somewhat apart.
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Details and the full model are below.
Market price below modeled range
Showing the EV/EBITDA (12x) you selected on the company card, using 5.85% growth, 2.7% terminal growth and 10% discount. The range varies these assumptions slightly; it is illustrative, not investment advice.
Assumptions: growth 5.85%, discount rate 10%, terminal growth 2.70% (sector defaults). See a worked example.
Blended growth assumption: 5.8% (sector default 6.2%, own revenue history 10.7%, analyst revenue consensus 3.3%).
Analyst consensus expects revenue growth of 3.3% a year; the growth assumption used is 5.9%.
Adjust assumptions
Show the recommended model instead
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — EUR 193.22 (+74.7%)
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EPS-based Gordon proxy
— EUR 121.64 (+10.0%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— EUR 193.22 (+74.7%)
Not used: Not chosen: Free-cash-flow DCF ranks ahead of it for this company.
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FCFF (steady state)
— EUR 164.95 (+49.1%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
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EV/EBITDA (12x)
— EUR 240.83 (+117.8%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— EUR 192.19 (+73.8%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
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EV/Sales (Rule of 40)
— EUR 579.46 (+423.9%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear EUR 195.05 | 43.3% |
| Base EUR 240.83 | 54.1% |
| Bull EUR 286.61 | 61.4% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 90 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +10.7% a year | 20 / 20 |
| Balance sheet | net debt 1.5x EBITDA | 20 / 20 |
| Margins | EBITDA margin 17% | 10 / 20 |
Peers in Industrials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| DG.PA (this company) | EUR 110.60 | 42.8% | 12.8 | 2.0 | 4.2% | 90 |
| EZJ.L easyJet plc | GBP 6.84 | 74.5% | 10.6 | 1.5 | 1.7% | 78 |
| WAWI.OL Wallenius Wilhelmsen ASA | NOK 160.60 | 64.7% | 7.1 | 2.2 | 0.3% | 100 |
| IAG.L International Consolidated Airlines Group S.A. | GBP 4.31 | 59.5% | 7.9 | 3.4 | 1.8% | 92 |
| TPK.L Travis Perkins plc | GBP 6.45 | 55.4% | – | 0.8 | 2.1% | 46 |
| DFDS.CO DFDS A/S | DKK 153.20 | 47.3% | – | 0.6 | – | 64 |
| SRP.L Serco Group plc | GBP 2.79 | 45.8% | 19.8 | 3.3 | 1.5% | 82 |
| HAFNI.OL Hafnia Limited | NOK 88.95 | 40.9% | 7.2 | 1.8 | 1.2% | 100 |
| MPCC.OL MPC Container Ships ASA | NOK 24.09 | 33.9% | 5.4 | 1.1 | 0.7% | 80 |
| Peer median | 7.5 | 1.6 | ||||
Dividends
Paid in the last 12 months: EUR 5.05 per share · yield 4.57% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 5.050 |
| 2025 | 4.750 |
| 2024 | 4.500 |
| 2023 | 4.050 |
| 2022 | 3.250 |
| 2021 | 2.690 |
Annual financial statement
Saved annual report · Fiscal year 2025 · EODHD annual statements · period ended 31 Dec 2025
| Revenue | EUR 75,372,000,000 |
|---|---|
| EBITDA | EUR 12,980,000,000 |
| EBIT | EUR 8,773,000,000 |
| Net income | EUR 4,903,000,000 |
| Free cash flow | EUR 8,013,000,000 |
| Capital expenditures | EUR 3,873,000,000 |
| Debt | EUR 37,692,000,000 |
| Cash | EUR 18,498,000,000 |
| Working capital | EUR -8,723,000,000 |
| Shares outstanding | 567,060,000 |
| Reported dividends per share | EUR 4.6997 |