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Veolia Environnement

BST:VVDH
Snowflake Description

Proven track record and fair value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VVDH
BST
€12B
Market Cap
  1. Home
  2. DE
  3. Utilities
Company description

Veolia Environnement S.A. designs and provides water, waste, and energy management solutions worldwide. The last earnings update was 42 days ago. More info.


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VVDH Share Price and Events
7 Day Returns
-1%
BST:VVDH
-0.1%
DE Integrated Utilities
1%
DE Market
1 Year Returns
9.5%
BST:VVDH
9.1%
DE Integrated Utilities
-5.6%
DE Market
VVDH Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Veolia Environnement (VVDH) -1% 6.1% 16.2% 9.5% -1.4% -
DE Integrated Utilities -0.1% -0.6% 5.8% 9.1% 28.6% -19.3%
DE Market 1% 6.1% 8.4% -5.6% 10.9% 13.8%
1 Year Return vs Industry and Market
  • VVDH outperformed the Market in Germany which returned -5.6% over the past year.
Price Volatility
VVDH
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Veolia Environnement 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 Veolia Environnement 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 Veolia Environnement.

BST:VVDH Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

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 BST:VVDH
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6.7%
Integrated Utilities Unlevered Beta Simply Wall St/ S&P Global 0.31
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.307 (1 + (1- 33%) (124.08%))
0.706
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.8 * 6.65%)
5.55%

Discounted Cash Flow Calculation for BST:VVDH using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Veolia Environnement 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.

BST:VVDH DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 5.55%)
2019 735.00 Analyst x3 696.37
2020 566.24 Analyst x5 508.27
2021 686.75 Analyst x4 584.05
2022 823.00 Analyst x2 663.13
2023 948.00 Analyst x1 723.70
2024 1,042.39 Est @ 9.96% 753.93
2025 1,115.75 Est @ 7.04% 764.57
2026 1,171.48 Est @ 4.99% 760.56
2027 1,213.24 Est @ 3.56% 746.27
2028 1,244.34 Est @ 2.56% 725.17
Present value of next 10 years cash flows €6,926.02
BST:VVDH DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €1,244.34 × (1 + 0.23%) ÷ (5.55% – 0.23%)
€23,443.27
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €23,443.27 ÷ (1 + 5.55%)10
€13,662.12
BST:VVDH Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €6,926.02 + €13,662.12
€20,588.14
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €20,588.14 / 553.08
€37.22
BST:VVDH Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:VVDH represents 0.98485x of ENXTPA:VIE
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.98485x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (EUR) x Listing Adjustment Factor
= € 37.22 x 0.98485
€36.66
Value per share (EUR) From above. €36.66
Current discount Discount to share price of €20.80
= -1 x (€20.80 - €36.66) / €36.66
43.3%

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

Current Discount
Amount off the current price Veolia Environnement is available for.
Intrinsic value
43%
Share price is €20.8 vs Future cash flow value of €36.66
Current Discount Checks
For Veolia Environnement to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Veolia Environnement's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Veolia Environnement's share price is below the future cash flow value, and 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 Veolia Environnement's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Veolia Environnement's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:VVDH PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.77
ENXTPA:VIE Share Price ** ENXTPA (2019-04-24) in EUR €21.12
Europe Integrated Utilities Industry PE Ratio Median Figure of 17 Publicly-Listed Integrated Utilities Companies 24.03x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.72x

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

** Primary Listing of Veolia Environnement.

BST:VVDH PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

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

= 21.12 ÷ 0.77

27.48x

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

  • Veolia Environnement is overvalued based on earnings compared to the Europe Integrated Utilities industry average.
  • Veolia Environnement is overvalued based on earnings compared to the Germany market.
Price based on expected Growth
Does Veolia Environnement's expected growth come at a high price?
Raw Data
BST:VVDH PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
14.8%per year
Europe Integrated Utilities Industry PEG Ratio Median Figure of 12 Publicly-Listed Integrated Utilities Companies 2.32x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

BST:VVDH PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 27.48x ÷ 14.8%

1.86x

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

  • Veolia Environnement is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Veolia Environnement's assets?
Raw Data
BST:VVDH PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €10.82
ENXTPA:VIE Share Price * ENXTPA (2019-04-24) in EUR €21.12
Germany Integrated Utilities Industry PB Ratio Median Figure of 6 Publicly-Listed Integrated Utilities Companies 2.18x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.87x
BST:VVDH PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 21.12 ÷ 10.82

1.95x

* Primary Listing of Veolia Environnement.

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

  • Veolia Environnement is good value based on assets compared to the DE Integrated Utilities industry average.
X
Value checks
We assess Veolia Environnement'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 Integrated Utilities 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 Integrated Utilities industry average (and greater than 0)? (1 check)
  5. Veolia Environnement has a total score of 3/6, 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 Veolia Environnement expected to perform in the next 1 to 3 years based on estimates from 13 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
14.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Veolia Environnement expected to grow at an attractive rate?
  • Veolia Environnement's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Veolia Environnement's earnings growth is expected to exceed the Germany market average.
  • Veolia Environnement's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
BST:VVDH Future Growth Rates Data Sources
Data Point Source Value (per year)
BST:VVDH Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 14.8%
BST:VVDH Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 3%
Germany Integrated Utilities Industry Earnings Growth Rate Market Cap Weighted Average 25.9%
Europe Integrated Utilities Industry Revenue Growth Rate Market Cap Weighted Average 6%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*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
BST:VVDH Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:VVDH Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 30,170 3,370 986 2
2022-12-31 29,286 3,265 914 3
2021-12-31 28,311 2,814 837 9
2020-12-31 27,378 2,761 764 12
2019-12-31 26,523 2,546 698 13
BST:VVDH Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 25,911 2,391 424
2018-09-30 25,554 2,373 412
2018-06-30 25,503 2,355 410
2018-03-31 25,370 453
2017-12-31 24,818 2,452 311
2017-09-30 24,678 2,477 302
2017-06-30 24,538 2,502 292
2017-03-31 24,363 2,529 316
2016-12-31 24,187 2,556 340
2016-09-30 24,335 2,513 295
2016-06-30 24,482 2,470 250
2016-03-31 24,724 2,467 308

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Veolia Environnement's earnings are expected to grow by 14.8% yearly, however this is not considered high growth (20% yearly).
  • Veolia Environnement's revenue is expected to grow by 3% 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
BST:VVDH 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 13 Analyst Estimates (S&P Global) See Below

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

BST:VVDH Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.77 1.95 1.58 2.00
2022-12-31 1.68 1.82 1.48 3.00
2021-12-31 1.47 1.65 1.23 5.00
2020-12-31 1.36 1.50 1.20 9.00
2019-12-31 1.24 1.40 1.02 9.00
BST:VVDH Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.77
2018-09-30 0.75
2018-06-30 0.74
2018-03-31
2017-12-31 0.57
2017-09-30 0.55
2017-06-30 0.53
2017-03-31 0.58
2016-12-31 0.62
2016-09-30 0.54
2016-06-30 0.45
2016-03-31 0.56

*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.
  • Veolia Environnement is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Veolia Environnement'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 Germany 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.
Veolia Environnement 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 Veolia Environnement 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 Veolia Environnement's growth in the last year to its industry (Integrated Utilities).
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.
  • Veolia Environnement has delivered over 20% year on year earnings growth in the past 5 years.
  • Veolia Environnement's 1-year earnings growth exceeds its 5-year average (36% vs 32.5%)
  • Veolia Environnement's earnings growth has exceeded the Europe Integrated Utilities industry average in the past year (36% vs 0.7%).
Earnings and Revenue History
Veolia Environnement'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 Veolia Environnement Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:VVDH 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 25,911.10 423.50 2,769.30
2018-09-30 25,553.75 412.20 2,785.55
2018-06-30 25,502.60 410.00 2,833.30
2018-03-31 25,370.35 453.10 2,138.80
2017-12-31 24,818.40 311.40 2,818.70
2017-09-30 24,678.40 301.50 2,809.60
2017-06-30 24,538.40 291.60 2,800.50
2017-03-31 24,362.70 315.85 2,817.50
2016-12-31 24,187.00 340.10 2,834.50
2016-09-30 24,334.65 294.85 2,879.15
2016-06-30 24,482.30 249.60 2,923.80
2016-03-31 24,723.55 307.90 2,951.85
2015-12-31 24,964.80 366.20 2,979.90
2015-09-30 24,839.80 378.45 3,013.10
2015-06-30 24,714.80 390.70 3,046.30
2015-03-31 24,297.20 293.20 2,999.50
2014-12-31 23,879.60 195.70 2,952.70
2014-09-30 23,553.95 38.65 2,912.25
2014-06-30 23,228.30 -118.40 2,871.80
2014-03-31 23,024.00 -161.20 2,883.45
2013-12-31 22,819.70 -204.00 2,895.10
2013-09-30 22,842.05 -91.05 2,929.35
2013-06-30 22,864.40 21.90 2,963.60
2013-03-31 23,051.65 -2.95 2,998.10
2012-12-31 23,238.90 -27.80 3,032.60
2012-09-30 18,385.80 -540.20 2,610.20
2012-06-30 25,720.90 -132.60 3,363.80

*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.
  • Veolia Environnement has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Veolia Environnement used its assets less efficiently than the Europe Integrated Utilities industry average last year based on Return on Assets.
  • Veolia Environnement has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Veolia Environnement'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 Integrated Utilities 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.
Veolia Environnement 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 Veolia Environnement'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 Veolia Environnement's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Veolia Environnement's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Veolia Environnement's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Veolia Environnement'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.1x 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 Veolia Environnement Company Filings, last reported 3 months ago.

BST:VVDH Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 7,144.30 14,493.70 4,846.10
2018-09-30 7,144.30 14,493.70 4,846.10
2018-06-30 6,713.80 13,896.80 3,379.90
2018-03-31 8,656.70 14,281.10 6,636.80
2017-12-31 8,633.90 14,273.30 6,636.80
2017-09-30 8,633.90 14,273.30 6,636.80
2017-06-30 8,418.40 13,720.60 5,271.40
2017-03-31 8,418.40 13,720.60 5,271.40
2016-12-31 8,876.50 13,350.50 5,670.20
2016-09-30 8,876.50 13,350.50 5,670.20
2016-06-30 9,051.00 12,351.60 3,826.20
2016-03-31 9,051.00 12,351.60 3,826.20
2015-12-31 9,130.30 12,341.00 4,340.40
2015-09-30 9,130.30 12,341.00 4,340.40
2015-06-30 9,547.30 10,965.40 1,870.00
2015-03-31 9,547.30 10,965.40 1,870.00
2014-12-31 9,479.40 11,544.00 3,277.80
2014-09-30 9,479.40 11,544.00 3,277.80
2014-06-30 9,577.60 11,652.50 2,983.70
2014-03-31 9,577.60 11,652.50 2,983.70
2013-12-31 9,659.50 12,901.10 4,385.20
2013-09-30 9,659.50 12,901.10 4,385.20
2013-06-30 9,764.10 13,941.70 3,840.30
2013-03-31 9,764.10 13,941.70 3,840.30
2012-12-31 8,497.60 15,990.10 5,167.40
2012-09-30 8,497.60 15,990.10 5,167.40
2012-06-30 9,712.20 19,962.20 4,915.00
  • Veolia Environnement's level of debt (202.9%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (133.4% vs 202.9% today).
  • Debt is not well covered by operating cash flow (16.5%, less than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 3.3x coverage).
X
Financial health checks
We assess Veolia Environnement'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. Veolia Environnement has a total score of 2/6, 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 Veolia Environnement'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
4.36%
Current annual income from Veolia Environnement dividends. Estimated to be 5.08% next year.
If you bought €2,000 of Veolia Environnement shares you are expected to receive €87 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?
  • Veolia Environnement's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.44%).
  • Veolia Environnement's dividend is above the markets top 25% of dividend payers in Germany (3.7%).
Upcoming dividend payment

Purchase Veolia Environnement 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
BST:VVDH 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 13 Analyst Estimates (S&P Global) See Below
Germany Integrated Utilities Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3.6%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

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

BST:VVDH Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.30 2.00
2022-12-31 1.23 3.00
2021-12-31 1.12 10.00
2020-12-31 1.07 13.00
2019-12-31 0.98 14.00
BST:VVDH Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-21 0.920 4.580
2018-02-22 0.840 4.520
2017-02-27 0.800 4.159
2016-02-25 0.730 3.931
2015-02-26 0.700 3.526
2014-02-27 0.700 4.967
2012-11-07 0.700 6.746
2012-08-07 0.700 8.299
2012-08-02 0.700 8.453
2012-03-01 0.700 6.870
2011-03-04 1.210 9.886
2010-03-05 1.210 5.601
2009-05-07 1.210 5.247

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Veolia Environnement's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Veolia Environnement's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - 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 Veolia Environnement afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Veolia Environnement has a total score of 3/6, 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 Veolia Environnement'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
Antoine Frérot
COMPENSATION €2,944,931
AGE 60
TENURE AS CEO 9.4 years
CEO Bio

Mr. Antoine Frérot serves as the Chairman and Chief Executive Officer at Veolia Komodity CR, s.r.o. Mr. Frérot serves as the Chairman and Chief Executive Officer of Veolia Environmental Services North America Corp. He has been the Chairman and Chief Executive Officer of Van Gansewinkel Environmental Services Belgium NV since December 2010. Mr. Frérot serves as Chief Executive Officer at Veolia Ceska Republika, a.s. Mr. Frérot has been the Chief Executive Officer of Veolia Environnement Services Re at Dalkia AB since November 2009. He serves as Chief Executive Officer of Veolia Water at Veolia North America, LLC. Mr. Frérot has been the Chairman of Veolia Environnement Services Re at Dalkia AB since December 12, 2010. He has been the Chairman of Veolia Ceska Republika, a.s. since December 12, 2010. He served as Senior Executive Vice-President of Veolia Environnement S.A. since January 2003. He served as the Head of Veolia Eau-Compagnie Général des Eaux. He served as the Head of Water Division of Veolia Water Solutions & Technologies S.A. He served as the Chief Executive Officer of Veolia Eau-Compagnie Général des Eaux since January 21, 2003 and served as its Member of the Management Board. He served as an Executive Vice President of Veolia Environnement S.A. at Veolia Eau-Compagnie Générale des Eaux since April 2000. He served as the Chief Executive Officer of Veolia Water S.A since 1995 and also served as its Member of Management Board. He served as the Chief Executive Officer of Veolia Water Solutions & Technologies S.A., a subsidiary of Veolia Environnement Services Re since 1995. He served as the Head of Water Division of Veolia Environnement SA since April 2000 and served as its Member of the Management Board from April 2000 to April 30, 2003. Mr. Frérot started his career in 1981 as a Research Engineer at the Bureau Central d'Études pour l'Outre-Mer. In 1983, he joined the Research centre at the École Nationale des Ponts et Chaussées as Project Manager and served as its Deputy Director from 1984 to 1988. From 1988 to 1990, he served as the Head of Financial Operations of the Crédit National. He joined the Générale des Eaux in 1990 and served as Managing Director in charge of public transport of Connex since 1995. Since 2000, he served as the Chief Executive Officer of Veolia Transportation, VE's Transport Division. He serves as President of The Supervisory Board at EOLFI SA. He serves as a Member of Supervisory Board at Dalkia International and Veolia Energie International. He serves as Member of the Board of Directors of Société des Eaux de Marseille S.A. He has been a Director of Veolia Environnement Services Re since May 7, 2010. He is graduated from the Ecole Polytechnique in 1977 and holds a Ph.D in Civil Engineering from the École Nationale des Ponts et Chaussées.

CEO Compensation
  • Antoine's compensation has been consistent with company performance over the past year.
  • Antoine's remuneration is lower than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Veolia Environnement management team in years:

1.3
Average Tenure
53
Average Age
  • The average tenure for the Veolia Environnement management team is less than 2 years, this suggests a new team.
Management Team

Antoine Frérot

TITLE
Chairman & CEO
COMPENSATION
€3M
AGE
60
TENURE
9.4 yrs

Claude Laruelle

TITLE
Chief Financial Officer
TENURE
0.5 yrs

Estelle Brachlianoff

TITLE
Chief Operating Officer
AGE
46
TENURE
0.6 yrs

Jean-Christophe Laissy

TITLE
Senior VP of Information Systems & Technology? and CIO
TENURE
1.3 yrs

Ronald Wasylec

TITLE
Head of Investor Relations

Éric Haza

TITLE
Chief Legal Officer

Jean-Baptiste Carpentier

TITLE
Chief Compliance Officer
AGE
53
TENURE
1.3 yrs

Laurent Obadia

TITLE
Senior VP of Communications and Advisor to the Chairman & CEO
TENURE
1.3 yrs

Jean-Marie Lambert

TITLE
Senior Executive Vice President of Human Resources
AGE
61

Laurent Auguste

TITLE
Senior Executive Vice President of Development
AGE
51
Board of Directors Tenure

Average tenure and age of the Veolia Environnement board of directors in years:

6.9
Average Tenure
64
Average Age
  • The tenure for the Veolia Environnement board of directors is about average.
Board of Directors

Antoine Frérot

TITLE
Chairman & CEO
COMPENSATION
€3M
AGE
60
TENURE
8.3 yrs

Louis Schweitzer

TITLE
Vice Chairman
COMPENSATION
€123K
AGE
75
TENURE
5.9 yrs

Nathalie Rachou

TITLE
Independent Director
COMPENSATION
€97K
AGE
61
TENURE
6.9 yrs

Maryse Aulagnon

TITLE
Senior Independent Director
COMPENSATION
€105K
AGE
69
TENURE
1.4 yrs

Jacques Aschenbroich

TITLE
Independent Director
COMPENSATION
€68K
AGE
64
TENURE
6.9 yrs

Baudouin Prot

TITLE
Director
COMPENSATION
€37K
AGE
67
TENURE
16 yrs

Paolo Scaroni

TITLE
Director
COMPENSATION
€48K
AGE
72
TENURE
12.3 yrs

Olivier Mareuse

TITLE
Director
COMPENSATION
€37K
AGE
55
TENURE
7.1 yrs

Marion Guillou

TITLE
Independent Director
COMPENSATION
€56K
AGE
64
TENURE
6.3 yrs

Pavel Páša

TITLE
Representative Director
COMPENSATION
€48K
AGE
53
TENURE
4.5 yrs
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 Veolia Environnement'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. Veolia Environnement 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

Veolia Environnement S.A. designs and provides water, waste, and energy management solutions worldwide. The company is involved in the resource management, production, and delivery of drinking water and industrial process water; collection, treatment, and recycling of wastewater, including the treatment and recovery of waste; and design and construction of treatment and network infrastructure. It also provides waste collection, waste material recovery, waste-to-energy, organic waste material recovery, hazardous waste treatment, dismantling and remediation, urban cleaning, and industrial maintenance and cleaning services. In addition, the company engages in the operation and maintenance of heating and cooling networks; development of energy services to reduce the energy consumption and CO2 emissions of buildings; and optimization of industrial utilities, as well as energy use related to processes and industrial buildings. It offers drinking water to 95 million people; wastewater treatment services to 63 million people; and waste collection services to 43 million people, as well as supplies heating to approximately 8.4 million people. The company was formerly known as Vivendi Environnement and changed its name to Veolia Environnement S.A. in 2003. Veolia Environnement S.A. was founded in 1853 and is headquartered in Aubervilliers, France.

Details
Name: Veolia Environnement S.A.
VVDH
Exchange: BST
Founded: 1853
€11,681,006,346
553,077,952
Website: http://www.veolia.com
Address: Veolia Environnement S.A.
30, rue Madeleine-Vionnet,
Aubervilliers,
Ile-de-France, 93300,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA VIE Ordinary Shares Euronext Paris FR EUR 20. Jul 2000
OTCPK VEOE.F Ordinary Shares Pink Sheets LLC US USD 20. Jul 2000
DB VVD Ordinary Shares Deutsche Boerse AG DE EUR 20. Jul 2000
XTRA VVD Ordinary Shares XETRA Trading Platform DE EUR 20. Jul 2000
LSE 0NY8 Ordinary Shares London Stock Exchange GB EUR 20. Jul 2000
SWX VIE Ordinary Shares SIX Swiss Exchange CH CHF 20. Jul 2000
WBAG VIE Ordinary Shares Wiener Boerse AG AT EUR 20. Jul 2000
BATS-CHIXE VIEP Ordinary Shares BATS 'Chi-X Europe' GB EUR 20. Jul 2000
OTCPK VEOE.Y ADR EACH REP ONE ORD EUR13.5(SPON) Pink Sheets LLC US USD 05. Oct 2001
DB VVDH ADR EACH REP ONE ORD EUR13.5(SPON) Deutsche Boerse AG DE EUR 05. Oct 2001
BST VVDH ADR EACH REP ONE ORD EUR13.5(SPON) Boerse-Stuttgart DE EUR 05. Oct 2001
BST A1HEWB 4.45%-VAR SUB NTS PERP EUR1000 Boerse-Stuttgart DE EUR 10. Jan 2013
Number of employees
Current staff
Staff numbers
162,740
Veolia Environnement employees.
Industry
Multi-Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 22:38
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/16
Last earnings filing: 2019/03/13
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.