SPIE Future Growth
Future criteria checks 5/6
SPIE is forecast to grow earnings and revenue by 20.4% and 5.8% per annum respectively. EPS is expected to grow by 20.7% per annum. Return on equity is forecast to be 22.2% in 3 years.
Key information
20.4%
Earnings growth rate
20.72%
EPS growth rate
| Commercial Services earnings growth | 15.8% |
| Revenue growth rate | 5.8% |
| Future return on equity | 22.18% |
| Analyst coverage | Good |
| Last updated | 01 Jun 2026 |
Recent future growth updates
Recent updates
Narrative Update • Jun 02
SPIE: Offshore Wind Wins And Buybacks Will Support Higher Earnings Multiple
Narrative Update on SPIE The updated analyst price target for SPIE moves to €56.18 from €55.59. Analysts attribute this to refreshed assumptions for revenue growth, discount rate, profit margins and future P/E, which support the change following recent target raises from €49.50 to €51 and further upward revisions of €2 and €8 by the Street.Narrative Update • May 03
SPIE: Future Revenue Will Surpass €10b As Earnings Multiple Expands
The updated analyst price target for SPIE increases to €55.59 from €53.45, with analysts citing refreshed assumptions on revenue growth and P/E, along with recent Street target hikes of €8 and €2, as key supports for this revision. Analyst Commentary Bullish Takeaways Bullish analysts point to successive target lifts, including the recent €8 move at JPMorgan and prior €2 and €1.50 steps, as support for a higher valuation framework on SPIE.
Narrative Update • Apr 18
SPIE: Model Refinements And Governance Shifts Will Shape Balanced 2026 Outlook
Analysts have raised their price target on SPIE to €51 from €49.50, citing updated assumptions on the discount rate, revenue growth, profit margin and future P/E. These revisions keep the estimated fair value broadly aligned with previous levels.Narrative Update • Apr 03
SPIE: Updated Outlook And Leadership Change Will Shape Measured 2026 Prospects
Analysts have nudged their price target for SPIE to €51 from €49.50, reflecting updated assumptions around modestly higher revenue growth, a slightly stronger profit margin profile, and a near unchanged future P/E multiple. Analyst Commentary The latest price target move to €51, alongside an Equal Weight stance, signals that analysts see some support for the current valuation but remain hesitant to adopt a more positive view.
Narrative Update • Mar 20
SPIE: Higher Medium Term Confidence Will Support Further Share Price Upside
Analysts have nudged their 12 month view on SPIE higher, with the headline change being a price target move from €49.50 to €51. This is supported by slightly adjusted assumptions on discount rate, revenue growth, profit margin and future P/E that keep fair value around €60.Narrative Update • Mar 06
SPIE: Tesla Energy Storage Agreement Will Drive Margins And Upside Potential
Analysts have kept their fair value estimate for SPIE steady at €60.00, with updated assumptions showing slightly different discount rate, revenue growth, profit margin and future P/E inputs, which together drive only a marginal adjustment to their price target rationale. What's in the News CEO transition planned, with long-serving Chief Executive Officer Gauthier Louette set to step down after the annual general shareholders’ meeting on 30 April 2026, in line with the company’s age limit policy (Key Developments).Narrative Update • Feb 20
SPIE: European Energy Storage Agreement Will Support Higher Margins And Upside Potential
Analysts have kept their €60.0 price target for SPIE unchanged, reflecting only minor tweaks to assumptions around discount rate, revenue growth, profit margins and future P/E, rather than a shift in their overall view of the shares. What's in the News SPIE signed a European framework agreement with Tesla for battery energy storage system (BESS) projects, with a renewable three year term covering group subsidiaries that have BESS installation expertise (Key Developments).Narrative Update • Feb 05
SPIE: European Energy Storage Partnership Will Support Higher Margins And Share Price Potential
Analysts have adjusted their price target on SPIE to €60.00, keeping the level unchanged while refining their assumptions for discount rate, revenue growth, profit margin and future P/E, which they see as better reflecting current risk and earnings expectations. What's in the News SPIE signed a European framework agreement with Tesla for battery energy storage system (BESS) projects, covering all SPIE group subsidiaries in Europe that work on BESS installations (Key Developments).Analysis Article • Jan 23
SPIE SA's (EPA:SPIE) Popularity With Investors Is Clear
With a price-to-earnings (or "P/E") ratio of 39x SPIE SA ( EPA:SPIE ) may be sending very bearish signals at the...Narrative Update • Jan 22
SPIE: European Energy Storage Agreement Will Shape Measured Outlook For 2025
Analysts have raised their price target on SPIE from €35.69 to €46.00, citing updated assumptions that include a slightly higher discount rate, revised estimates for revenue growth and profit margins, and a higher future P/E multiple. What's in the News SPIE signed a European framework agreement with Tesla covering battery energy storage system projects.Narrative Update • Jan 08
SPIE: Future Revenue Will Surpass €10b With Measured Profitability Outlook
Analysts have nudged their fair value estimate for SPIE slightly higher, to €53.45 from €52.83, reflecting small adjustments to assumptions on the discount rate, revenue growth, profit margins and expected future P/E. What's in the News SPIE signed a European framework agreement with Tesla for battery energy storage system projects using Tesla Megapack solutions, covering all group subsidiaries in Europe with BESS installation expertise (Key Developments).Narrative Update • Dec 16
SPIE: European Battery Projects Will Drive Higher Margins And Share Price Potential
Analysts have reduced their price target on SPIE by 2.00 dollars to 60.00 dollars. This reflects slightly lower assumptions for revenue growth and valuation multiples, which are only partly offset by improved margin expectations.Narrative Update • Dec 01
SPIE: Future Revenue to Exceed €10 Billion as Profitability Set to Improve
Analysts have slightly reduced their price target for SPIE, lowering it from €52.50 to €49.50. This adjustment is due to a modest decrease in revenue growth expectations and updated market assessments.Analysis Article • Nov 12
SPIE's (EPA:SPIE) Returns On Capital Are Heading Higher
If you're not sure where to start when looking for the next multi-bagger, there are a few key trends you should keep an...Analysis Article • Oct 28
Is There An Opportunity With SPIE SA's (EPA:SPIE) 43% Undervaluation?
Key Insights SPIE's estimated fair value is €81.91 based on 2 Stage Free Cash Flow to Equity SPIE is estimated to be...Narrative Update • Oct 18
Energy Transition And Digitalization Trends Will Unlock Future Potential
The analyst price target for SPIE has been revised downward from €52.50 to €49.50. Analysts point to valuation concerns as the primary driver for the reduced estimate.Analysis Article • Oct 10
Here's Why SPIE (EPA:SPIE) Can Manage Its Debt Responsibly
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Narrative Update • Oct 03
Energy Transition And Digitalization Trends Will Unlock Future Potential
Analysts have marginally raised their fair value estimate for SPIE to €53.05 from €52. This change reflects modest adjustments to expected growth and profitability assumptions in light of recent market developments.Analysis Article • Sep 26
Is It Time To Consider Buying SPIE SA (EPA:SPIE)?
SPIE SA ( EPA:SPIE ), might not be a large cap stock, but it saw significant share price movement during recent months...Analysis Article • Sep 08
SPIE (EPA:SPIE) Has Announced A Dividend Of €0.30
SPIE SA ( EPA:SPIE ) has announced that it will pay a dividend of €0.30 per share on the 18th of September. This makes...Narrative Update • Aug 06
Energy Transition And Digitalization Trends Will Unlock Future Potential
Despite a notable downgrade in consensus revenue growth forecasts, SPIE's consensus price target has risen significantly—driven by valuation multiple expansion—with the target increasing from €45.65 to €50.85. What's in the News SPIE SA reaffirmed its 2025 earnings outlook, expecting strong total growth and Group revenue to exceed EUR 10 billion, including ongoing organic growth and active bolt-on M&A.Analysis Article • Aug 03
SPIE SA (EPA:SPIE) Released Earnings Last Week And Analysts Lifted Their Price Target To €49.15
Investors in SPIE SA ( EPA:SPIE ) had a good week, as its shares rose 2.6% to close at €50.10 following the release of...Analysis Article • Jul 27
SPIE (EPA:SPIE) Is Looking To Continue Growing Its Returns On Capital
To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'd want to...Analysis Article • Jul 13
Investors Interested In SPIE SA's (EPA:SPIE) Earnings
With a price-to-earnings (or "P/E") ratio of 29x SPIE SA ( EPA:SPIE ) may be sending very bearish signals at the...Analysis Article • Jun 29
With EPS Growth And More, SPIE (EPA:SPIE) Makes An Interesting Case
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Analysis Article • Jun 17
Are Investors Undervaluing SPIE SA (EPA:SPIE) By 34%?
Key Insights SPIE's estimated fair value is €69.04 based on 2 Stage Free Cash Flow to Equity SPIE is estimated to be...
New Narrative • Dec 08
Focus On Renewable Energy And Decisive Acquisitions With Vattenfall And Correll Group Will Propel Revenue Growth And Margin Expansion
SPIE's strategic focus on renewable energy projects in Poland and offshore wind initiatives is expected to enhance revenue and market position.Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 12,736 | 490 | 790 | 961 | 8 |
| 12/31/2027 | 11,963 | 450 | 752 | 885 | 11 |
| 12/31/2026 | 11,181 | 394 | 694 | 811 | 11 |
| 12/31/2025 | 10,492 | 176 | 812 | 887 | N/A |
| 9/30/2025 | 10,423 | 190 | 892 | 969 | N/A |
| 6/30/2025 | 10,355 | 203 | 972 | 1,052 | N/A |
| 3/31/2025 | 10,182 | 238 | 902 | 986 | N/A |
| 12/31/2024 | 10,009 | 273 | 832 | 921 | N/A |
| 9/30/2024 | 9,673 | 248 | 792 | 877 | N/A |
| 6/30/2024 | 9,337 | 222 | 752 | 834 | N/A |
| 3/31/2024 | 9,076 | 230 | 702 | 774 | N/A |
| 12/31/2023 | 8,814 | 239 | 652 | 713 | N/A |
| 9/30/2023 | 8,690 | 195 | 580 | 640 | N/A |
| 6/30/2023 | 8,565 | 152 | 509 | 566 | N/A |
| 3/31/2023 | 8,382 | 152 | 510 | 572 | N/A |
| 12/31/2022 | 8,200 | 152 | 512 | 577 | N/A |
| 9/30/2022 | 7,869 | 168 | 501 | 570 | N/A |
| 6/30/2022 | 7,539 | 185 | 490 | 562 | N/A |
| 3/31/2022 | 7,305 | 177 | 469 | 539 | N/A |
| 12/31/2021 | 7,072 | 169 | 449 | 516 | N/A |
| 9/30/2021 | 7,045 | 161 | 399 | 462 | N/A |
| 6/30/2021 | 7,019 | 152 | 349 | 407 | N/A |
| 3/31/2021 | 6,880 | 103 | 422 | 484 | N/A |
| 12/31/2020 | 6,741 | 53 | 494 | 560 | N/A |
| 9/30/2020 | 6,784 | 61 | N/A | N/A | N/A |
| 6/30/2020 | 6,827 | 68 | 613 | 685 | N/A |
| 3/31/2020 | 6,935 | 114 | 488 | 559 | N/A |
| 12/31/2019 | 7,043 | 159 | 362 | 432 | N/A |
| 9/30/2019 | 6,964 | 176 | N/A | N/A | N/A |
| 6/30/2019 | 6,886 | 192 | N/A | 395 | N/A |
| 3/31/2019 | 6,818 | 177 | N/A | 380 | N/A |
| 12/31/2018 | 6,750 | 162 | N/A | 366 | N/A |
| 9/30/2018 | 6,683 | 124 | N/A | N/A | N/A |
| 6/30/2018 | 6,616 | 87 | N/A | 161 | N/A |
| 3/31/2018 | 6,400 | 100 | N/A | 229 | N/A |
| 12/31/2017 | 6,185 | 114 | N/A | 297 | N/A |
| 9/30/2017 | 5,724 | 154 | N/A | N/A | N/A |
| 6/30/2017 | 5,263 | 193 | N/A | 259 | N/A |
| 3/31/2017 | 5,124 | 194 | N/A | 309 | N/A |
| 12/31/2016 | 4,985 | 196 | N/A | 358 | N/A |
| 9/30/2016 | 5,094 | 153 | N/A | N/A | N/A |
| 6/30/2016 | 5,203 | 109 | N/A | 310 | N/A |
| 3/31/2016 | 5,333 | 60 | N/A | 400 | N/A |
| 12/31/2015 | 5,431 | 51 | N/A | 273 | N/A |
| 9/30/2015 | 5,463 | 12 | N/A | N/A | N/A |
| 6/30/2015 | 5,496 | -27 | N/A | 191 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SPIE's forecast earnings growth (20.4% per year) is above the savings rate (2.5%).
Earnings vs Market: SPIE's earnings (20.4% per year) are forecast to grow faster than the French market (12.5% per year).
High Growth Earnings: SPIE's earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: SPIE's revenue (5.8% per year) is forecast to grow faster than the French market (5.7% per year).
High Growth Revenue: SPIE's revenue (5.8% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SPIE's Return on Equity is forecast to be high in 3 years time (22.2%)
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/05 07:39 |
| End of Day Share Price | 2026/06/05 00:00 |
| Earnings | 2025/12/31 |
| Annual Earnings | 2025/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
| |
| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
SPIE SA is covered by 19 analysts. 11 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Anna Patrice | Berenberg |
| Aleksander Peterc | Bernstein |
| Laurent Gelebart | BNP Paribas |