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VINCI

WBAG:DG
Snowflake Description

Established dividend payer with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
DG
WBAG
€49B
Market Cap
  1. Home
  2. AT
  3. Capital Goods
Company description

VINCI SA engages in the concessions and contracting businesses worldwide. The last earnings update was 69 days ago. More info.


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DG Share Price and Events
7 Day Returns
-0.1%
WBAG:DG
1.5%
Europe Construction
3.4%
AT Market
1 Year Returns
6.7%
WBAG:DG
-2.3%
Europe Construction
-2%
AT Market
DG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
VINCI (DG) -0.1% 3.8% 18.3% 6.7% - -
Europe Construction 1.5% 1.6% 13.3% -2.3% 12% 11%
AT Market 3.4% 6% 10.1% -2% 43.4% 29.5%
1 Year Return vs Industry and Market
  • DG outperformed the Construction industry which returned -2.3% over the past year.
  • DG outperformed the Market in Austria which returned -2% over the past year.
Price Volatility
DG
Industry
5yr Volatility vs Market

Value

 Is VINCI undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of VINCI to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for VINCI.

WBAG:DG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 16 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.9%
Perpetual Growth Rate 10-Year AT Government Bond Rate 0.5%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for WBAG:DG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year AT Govt Bond Rate 0.5%
Equity Risk Premium S&P Global 6.7%
Construction Unlevered Beta Simply Wall St/ S&P Global 1.04
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.035 (1 + (1- 33%) (49.64%))
1.254
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.25
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.51% + (1.254 * 6.65%)
8.85%

Discounted Cash Flow Calculation for WBAG:DG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for VINCI is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

WBAG:DG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 8.85%)
2019 3,441.76 Analyst x10 3,161.92
2020 3,911.03 Analyst x10 3,300.89
2021 3,872.24 Analyst x5 3,002.43
2022 4,801.00 Analyst x1 3,419.89
2023 5,031.00 Analyst x1 3,292.34
2024 5,203.57 Est @ 3.43% 3,128.40
2025 5,336.48 Est @ 2.55% 2,947.44
2026 5,440.05 Est @ 1.94% 2,760.35
2027 5,522.29 Est @ 1.51% 2,574.24
2028 5,589.17 Est @ 1.21% 2,393.58
Present value of next 10 years cash flows €29,981.48
WBAG:DG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €5,589.17 × (1 + 0.51%) ÷ (8.85% – 0.51%)
€67,355.14
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €67,355.14 ÷ (1 + 8.85%)10
€28,845.05
WBAG:DG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €29,981.48 + €28,845.05
€58,826.52
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €58,826.52 / 552.97
€106.38
WBAG:DG Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in WBAG:DG represents 0.99933x of ENXTPA:DG
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99933x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 106.38 x 0.99933
€106.31
Value per share (EUR) From above. €106.31
Current discount Discount to share price of €89.30
= -1 x (€89.30 - €106.31) / €106.31
16%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price VINCI is available for.
Intrinsic value
16%
Share price is €89.3 vs Future cash flow value of €106.31
Current Discount Checks
For VINCI to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • VINCI's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • VINCI's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for VINCI's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are VINCI's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
WBAG:DG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €5.38
ENXTPA:DG Share Price ** ENXTPA (2019-04-18) in EUR €89.36
Europe Construction Industry PE Ratio Median Figure of 93 Publicly-Listed Construction Companies 10.91x
Austria Market PE Ratio Median Figure of 51 Publicly-Listed Companies 14.73x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of VINCI.

WBAG:DG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:DG Share Price ÷ EPS (both in EUR)

= 89.36 ÷ 5.38

16.62x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VINCI is overvalued based on earnings compared to the Europe Construction industry average.
  • VINCI is overvalued based on earnings compared to the Austria market.
Price based on expected Growth
Does VINCI's expected growth come at a high price?
Raw Data
WBAG:DG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 16.62x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts
7.2%per year
Europe Construction Industry PEG Ratio Median Figure of 45 Publicly-Listed Construction Companies 1.22x
Austria Market PEG Ratio Median Figure of 32 Publicly-Listed Companies 1.34x

*Line of best fit is calculated by linear regression .

WBAG:DG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 16.62x ÷ 7.2%

2.3x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VINCI is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on VINCI's assets?
Raw Data
WBAG:DG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €34.58
ENXTPA:DG Share Price * ENXTPA (2019-04-18) in EUR €89.36
Europe Construction Industry PB Ratio Median Figure of 130 Publicly-Listed Construction Companies 1.2x
Austria Market PB Ratio Median Figure of 59 Publicly-Listed Companies 1.27x
WBAG:DG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:DG Share Price ÷ Book Value per Share (both in EUR)

= 89.36 ÷ 34.58

2.58x

* Primary Listing of VINCI.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • VINCI is overvalued based on assets compared to the Europe Construction industry average.
X
Value checks
We assess VINCI's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Construction industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Construction industry average (and greater than 0)? (1 check)
  5. VINCI has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is VINCI expected to perform in the next 1 to 3 years based on estimates from 16 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is VINCI expected to grow at an attractive rate?
  • VINCI's earnings growth is expected to exceed the low risk savings rate of 0.5%.
Growth vs Market Checks
  • VINCI's earnings growth is positive but not above the Austria market average.
  • VINCI's revenue growth is expected to exceed the Austria market average.
Annual Growth Rates Comparison
Raw Data
WBAG:DG Future Growth Rates Data Sources
Data Point Source Value (per year)
WBAG:DG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 16 Analysts 7.2%
WBAG:DG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 16 Analysts 3.1%
Europe Construction Industry Earnings Growth Rate Market Cap Weighted Average 11.6%
Europe Construction Industry Revenue Growth Rate Market Cap Weighted Average 4.6%
Austria Market Earnings Growth Rate Market Cap Weighted Average 9%
Austria Market Revenue Growth Rate Market Cap Weighted Average 2.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
WBAG:DG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
WBAG:DG Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 53,066 6,255 4,063 1
2022-12-31 50,067 6,179 4,024 2
2021-12-31 48,653 6,188 3,792 8
2020-12-31 47,466 6,178 3,591 15
2019-12-31 45,909 5,549 3,272 15
WBAG:DG Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 44,354 5,142 2,983
2018-09-30 43,322 4,742 3,000
2018-06-30 42,290 4,342 3,017
2018-03-31 41,684 4,311 2,882
2017-12-31 41,077 4,280 2,747
2017-09-30 40,409 4,335 2,681
2017-06-30 39,741 4,390 2,615
2017-03-31 39,210 4,368 2,560
2016-12-31 38,678 4,346 2,505
2016-09-30 38,829 4,324 2,326
2016-06-30 38,979 4,302 2,147
2016-03-31 39,150 4,412 2,097

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • VINCI's earnings are expected to grow by 7.2% yearly, however this is not considered high growth (20% yearly).
  • VINCI's revenue is expected to grow by 3.1% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
WBAG:DG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below

All data from VINCI Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:DG Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 7.26 7.26 7.26 1.00
2022-12-31 7.19 7.19 7.19 1.00
2021-12-31 6.84 7.40 6.21 6.00
2020-12-31 6.39 6.95 5.87 13.00
2019-12-31 5.85 6.08 5.55 13.00
WBAG:DG Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 5.38
2018-09-30 5.41
2018-06-30 5.44
2018-03-31 5.20
2017-12-31 4.95
2017-09-30 4.83
2017-06-30 4.71
2017-03-31 4.62
2016-12-31 4.52
2016-09-30 4.19
2016-06-30 3.87
2016-03-31 3.78

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • VINCI is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess VINCI's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
VINCI has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has VINCI performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare VINCI's growth in the last year to its industry (Construction).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • VINCI's year on year earnings growth rate has been positive over the past 5 years.
  • VINCI's 1-year earnings growth exceeds its 5-year average (8.6% vs 6.8%)
  • VINCI's earnings growth has not exceeded the Europe Construction industry average in the past year (8.6% vs 15.5%).
Earnings and Revenue History
VINCI's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from VINCI Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

WBAG:DG Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 44,354.00 2,983.00 233.00
2018-09-30 43,322.00 3,000.00 221.50
2018-06-30 42,290.00 3,017.00 210.00
2018-03-31 41,683.50 2,882.00 198.00
2017-12-31 41,077.00 2,747.00 186.00
2017-09-30 40,409.00 2,681.00 173.00
2017-06-30 39,741.00 2,615.00 160.00
2017-03-31 39,209.50 2,560.00 155.50
2016-12-31 38,678.00 2,505.00 151.00
2016-09-30 38,828.50 2,326.00 126.00
2016-06-30 38,979.00 2,147.00 101.00
2016-03-31 39,150.00 2,096.50 98.00
2015-12-31 39,321.00 2,046.00 95.00
2015-09-30 39,018.50 2,001.50 93.00
2015-06-30 38,716.00 1,957.00 91.00
2015-03-31 38,955.00 2,221.50 96.50
2014-12-31 39,194.00 2,486.00 102.00
2014-09-30 40,000.50 2,524.00 105.00
2014-06-30 40,807.00 2,562.00 108.00
2014-03-31 40,900.50 2,262.00 97.00
2013-12-31 40,994.00 1,962.00 86.00
2013-09-30 40,518.50 1,921.00 87.00
2013-06-30 40,043.00 1,880.00 88.00
2013-03-31 39,712.50 1,898.50 91.00
2012-12-31 39,382.00 1,917.00 94.00
2012-09-30 38,818.25 1,896.40 101.85
2012-06-30 38,254.50 1,875.80 109.70

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • VINCI has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • VINCI used its assets more efficiently than the Europe Construction industry average last year based on Return on Assets.
  • VINCI has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess VINCI's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Construction industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
VINCI has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is VINCI's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up VINCI's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • VINCI's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • VINCI's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of VINCI's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from VINCI Company Filings, last reported 3 months ago.

WBAG:DG Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 19,818.00 24,528.00 8,205.00
2018-09-30 19,818.00 24,528.00 8,205.00
2018-06-30 18,333.00 23,627.00 6,171.00
2018-03-31 18,333.00 23,627.00 6,171.00
2017-12-31 18,384.00 21,874.00 6,991.00
2017-09-30 18,384.00 21,874.00 6,991.00
2017-06-30 16,860.00 21,404.00 4,937.00
2017-03-31 16,860.00 21,404.00 4,937.00
2016-12-31 17,006.00 21,863.00 6,832.00
2016-09-30 17,006.00 21,863.00 6,832.00
2016-06-30 15,180.00 20,129.00 4,524.00
2016-03-31 15,180.00 20,129.00 4,524.00
2015-12-31 15,256.00 19,404.00 5,798.00
2015-09-30 15,256.00 19,404.00 5,798.00
2015-06-30 14,889.00 20,402.00 5,745.00
2015-03-31 14,889.00 20,402.00 5,745.00
2014-12-31 14,868.00 21,196.00 6,624.00
2014-09-30 14,868.00 21,196.00 6,624.00
2014-06-30 14,301.00 17,779.00 2,894.00
2014-03-31 14,301.00 17,779.00 2,894.00
2013-12-31 14,260.00 20,798.00 5,819.00
2013-09-30 14,260.00 20,798.00 5,819.00
2013-06-30 14,386.00 18,540.00 5,542.00
2013-03-31 14,386.00 18,540.00 5,542.00
2012-12-31 13,767.00 20,194.00 6,937.00
2012-09-30 13,767.00 20,194.00 6,937.00
2012-06-30 13,362.30 20,483.80 5,600.60
  • VINCI's level of debt (123.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (145.6% vs 123.8% today).
  • Debt is well covered by operating cash flow (21%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.6x coverage).
X
Financial health checks
We assess VINCI's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. VINCI has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is VINCI's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.99%
Current annual income from VINCI dividends. Estimated to be 3.56% next year.
If you bought €2,000 of VINCI shares you are expected to receive €60 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • VINCI's pays a higher dividend yield than the bottom 25% of dividend payers in Austria (1.44%).
  • VINCI's dividend is below the markets top 25% of dividend payers in Austria (4.62%).
Upcoming dividend payment

Purchase VINCI before the 'Buy Limit' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
WBAG:DG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 16 Analyst Estimates (S&P Global) See Below
Europe Construction Industry Average Dividend Yield Market Cap Weighted Average of 71 Stocks 3.6%
Austria Market Average Dividend Yield Market Cap Weighted Average of 49 Stocks 3.4%
Austria Minimum Threshold Dividend Yield 10th Percentile 1.1%
Austria Bottom 25% Dividend Yield 25th Percentile 1.4%
Austria Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

WBAG:DG Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 3.63 1.00
2022-12-31 3.60 1.00
2021-12-31 3.52 10.00
2020-12-31 3.22 18.00
2019-12-31 2.94 20.00
WBAG:DG Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-06 2.670 3.166
2018-07-27 2.510 3.215
2018-04-17 2.450 2.899
2017-07-28 2.160 2.635
2017-02-07 2.100 2.818
2016-04-19 1.840 2.819
2015-07-30 1.790 2.979
2015-02-04 1.770 3.279
2014-07-31 1.770 3.866
2014-04-15 1.770 3.272
2013-07-30 1.770 3.785
2013-02-05 1.770 4.765
2012-07-31 1.770 5.059
2012-02-07 1.770 4.954
2011-08-30 1.700 5.062
2011-03-01 1.670 4.042
2010-08-31 1.620 4.071
2010-03-25 1.620 4.268
2010-03-03 1.620 3.821
2009-08-31 1.620 4.176
2009-05-14 1.620 4.772
2009-04-20 1.520 4.522

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of VINCI's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (2x coverage).
X
Income/ dividend checks
We assess VINCI's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can VINCI afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. VINCI has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of VINCI's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Xavier M. Huillard
COMPENSATION €4,587,922
AGE 64
TENURE AS CEO 13.3 years
CEO Bio

Mr. Xavier M. P. Huillard has been the Chairman of VINCI SA since May 6, 2010 and its Chief Executive Officer since January 2006. Mr. Huillard serves as Chairman of VINCI Concessions SAS; Chairman of the Supervisory Board of VINCI Deutschland GmbH; permanent representative of VINCI on the Boards of Directors of VINCI Energies and of Fabrique de la Cité; permanent representative of Snel on the Board of Directors of ASF and of VINCI Autoroutes on the Board of Directors of Cofiroute; Chairman of the Fondation VINCI pour la Cité; Director of Kansai Airports; and Director of Air Liquide. He has been Director at Aéroports de Paris SA since May 15, 2014. He has spent most of his working life in the construction industry in France and abroad. Mr. Huillard joined Sogea in December 1996 as Deputy Chief Executive Officer in charge of international activities and specific projects, and then became its Chairman and Chief Executive Officer in 1998. He was appointed Deputy General Manager of VINCI in March 1998 and was Chairman of VINCI Construction from 2000 to 2002. He was appointed Co-Chief Operating Officer of VINCI and was Chairman and Chief Executive Officer of VINCI Energies from 2002 to 2004, then Chairman of VINCI Energies from 2004 to 2005. He served as Chairman of the Institut de l’Entreprise from January 2011 until January 2017. He is Vice-Chairman of the non-profit organisation Aurore. He served as Chairman of VINCI Concessions Management SAS and VINCI Concessions SAS since June 20, 2016; Director of VINCI plc and VINCI Investments Ltd; permanent representative of VINCI Concessions on the Board of Directors of ASF Holding; and permanent representative of VINCI on the Board of Directors of Eurovia. He is a Director of Raise Investissement, SAS. Mr. Huillard graduated from École Polytechnique and the École Nationale des Ponts et Chaussées engineering school.

CEO Compensation
  • Xavier M.'s compensation has been consistent with company performance over the past year.
  • Insufficient data for Xavier M. to establish whether their remuneration is reasonable compared to companies of similar size in .
Management Team Tenure

Average tenure and age of the VINCI management team in years:

13.3
Average Tenure
60
Average Age
  • The average tenure for the VINCI management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Xavier M. Huillard

TITLE
Chairman & CEO
COMPENSATION
€5M
AGE
64
TENURE
13.3 yrs

Christian Labeyrie

TITLE
CFO & Executive VP
AGE
62
TENURE
20.3 yrs

Gregoire Thibault

TITLE
Group Director of Investor Relations & Financial Communications
AGE
38
TENURE
0.8 yrs

Patrick Richard

TITLE
General Counsel & Secretary
AGE
61
TENURE
18.3 yrs

Pierre Duprat

TITLE
Vice-President of Corporate Communications
AGE
55

Franck Mougin

TITLE
Vice President of Human Resources & Sustainable Development
AGE
61
TENURE
9.6 yrs

Pierre Coppey

TITLE
Executive Vice President
COMPENSATION
€1M
AGE
55
TENURE
18.3 yrs

Richard Francioli

TITLE
Executive Vice-President of Contracting
AGE
59
TENURE
9.3 yrs

Hervé Adam

TITLE
Executive VP of Vinci Energies - France

Alexandra Boutelier

TITLE
Chief Operating Officer of Consortium Stade de France - Vinci Stadium
Board of Directors Tenure

Average tenure and age of the VINCI board of directors in years:

4.7
Average Tenure
54
Average Age
  • The tenure for the VINCI board of directors is about average.
Board of Directors

Xavier M. Huillard

TITLE
Chairman & CEO
COMPENSATION
€5M
AGE
64
TENURE
8.9 yrs

Yves-Thibault de Silguy

TITLE
Vice-Chairman
COMPENSATION
€233K
AGE
70
TENURE
8.9 yrs

Olivier de la Roussière

TITLE
Chairman of VINCI Immobilier

Pierre Anjolras

TITLE
Chairman of Eurovia
AGE
52
TENURE
5.1 yrs

Arnaud Grison

TITLE
Chairman & CEO of VINCI Energies
TENURE
0.1 yrs

Fadi Selwan

TITLE
VP of Business Development for VINCI Concessions & Chairman of VINCI Highways
AGE
53

Jérôme Stubler

TITLE
Chairman of VINCI Construction
AGE
55
TENURE
4.3 yrs

Benoît Lecinq

TITLE
Chairman of Entrepose

Hugues Fourmentraux

TITLE
Chairman of VINCI Construction France
AGE
50
TENURE
3.3 yrs

Manuel Peltier

TITLE
Chairman of Soletanche Freyssine
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess VINCI's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. VINCI has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

VINCI SA engages in the concessions and contracting businesses worldwide. The company designs, finances, builds, and operates infrastructure and facilities comprising motorway, bridge and tunnel, airport, rail, and stadium facilities. It operates a motorway concession with a network of 4,443 kilometers in France; and 35 airports worldwide. The company also designs, finances, builds, and operates transport infrastructure and public amenities, such as motorways, bridges, tunnels, and urban roads with a network of 3,200 kilometers under public-private partnership arrangements; and provides industry, infrastructure, facilities management, and information and communication technology services. In addition, the company builds and maintains roads, motorways, railways, and urban infrastructure projects; produces materials, such as asphalt mixes; and operates quarries for aggregates, as well as designs and constructs residential and commercial property, civil engineering infrastructure, specialized civil engineering, water and pipeline infrastructure, and other projects. Further, it develops residential properties, business properties, and managed residences, as well as offers property services. VINCI SA was founded in 1899 and is headquartered in Rueil-Malmaison, France.

Details
Name: VINCI SA
DG
Exchange: WBAG
Founded: 1899
€49,413,100,469
552,966,657
Website: http://www.vinci.com
Address: VINCI SA
1, cours Ferdinand-de-Lesseps,
Cedex,
Rueil-Malmaison,
Ile-de-France, 92851,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA DG Ordinary Shares Euronext Paris FR EUR 02. Jan 1992
OTCPK VCIS.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1992
DB SQU Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1992
XTRA SQU Ordinary Shares XETRA Trading Platform DE EUR 02. Jan 1992
LSE 0NQM Ordinary Shares London Stock Exchange GB EUR 02. Jan 1992
SWX DG Ordinary Shares SIX Swiss Exchange CH CHF 02. Jan 1992
BIT DG Ordinary Shares Borsa Italiana IT EUR 02. Jan 1992
WBAG DG Ordinary Shares Wiener Boerse AG AT EUR 02. Jan 1992
BATS-CHIXE DGP Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1992
OTCPK VCIS.Y ADR Pink Sheets LLC US USD 17. May 2004
ENXTPA DGNV EUR2.50 (RFD 01/01/2019) Euronext Paris FR EUR 28. Jan 2019
Number of employees
Current staff
Staff numbers
204,775
VINCI employees.
Industry
Construction and Engineering
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/18 22:09
End of day share price update: 2019/04/18 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/08
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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 here.