ENXTPA:DG

Stock Analysis Report

Executive Summary

VINCI SA engages in the concessions and contracting businesses worldwide.


Snowflake Analysis

Established dividend payer and fair value.


Similar Companies

Share Price & News

How has VINCI's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: DG's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-4.6%

DG

-1.1%

FR Construction

1.8%

FR Market


1 Year Return

-18.3%

DG

-18.0%

FR Construction

-17.5%

FR Market

Return vs Industry: DG matched the French Construction industry which returned -27.8% over the past year.

Return vs Market: DG underperformed the French Market which returned -23.1% over the past year.


Shareholder returns

DGIndustryMarket
7 Day-4.6%-1.1%1.8%
30 Day-17.8%-17.9%-12.1%
90 Day-28.0%-27.7%-24.9%
1 Year-15.8%-18.3%-15.3%-18.0%-14.6%-17.5%
3 Year4.6%-4.1%-1.6%-10.6%1.8%-7.6%
5 Year47.7%27.4%29.1%8.3%8.3%-7.2%

Price Volatility Vs. Market

How volatile is VINCI's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is VINCI undervalued compared to its fair value and its price relative to the market?

24.9%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: DG (€63.84) is trading below our estimate of fair value (€93.17)

Significantly Below Fair Value: DG is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: DG is poor value based on its PE Ratio (10.9x) compared to the Construction industry average (9.7x).

PE vs Market: DG is good value based on its PE Ratio (10.9x) compared to the French market (13.2x).


Price to Earnings Growth Ratio

PEG Ratio: DG is poor value based on its PEG Ratio (2.1x)


Price to Book Ratio

PB vs Industry: DG is overvalued based on its PB Ratio (1.7x) compared to the FR Construction industry average (1x).


Next Steps

Future Growth

How is VINCI forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?

5.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DG's forecast earnings growth (5.2% per year) is above the savings rate (-0.1%).

Earnings vs Market: DG's earnings (5.2% per year) are forecast to grow slower than the French market (12.2% per year).

High Growth Earnings: DG's earnings are forecast to grow, but not significantly.

Revenue vs Market: DG's revenue (0.3% per year) is forecast to grow slower than the French market (3.5% per year).

High Growth Revenue: DG's revenue (0.3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: DG's Return on Equity is forecast to be low in 3 years time (16.3%).


Next Steps

Past Performance

How has VINCI performed over the past 5 years?

9.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DG has high quality earnings.

Growing Profit Margin: DG's current net profit margins (6.7%) are lower than last year (6.7%).


Past Earnings Growth Analysis

Earnings Trend: DG's earnings have grown by 9.5% per year over the past 5 years.

Accelerating Growth: DG's earnings growth over the past year (9.3%) is below its 5-year average (9.5% per year).

Earnings vs Industry: DG earnings growth over the past year (9.3%) underperformed the Construction industry 9.3%.


Return on Equity

High ROE: DG's Return on Equity (14.8%) is considered low.


Next Steps

Financial Health

How is VINCI's financial position?


Financial Position Analysis

Short Term Liabilities: DG's short term assets (€30.2B) do not cover its short term liabilities (€33.5B).

Long Term Liabilities: DG's short term assets (€30.2B) do not cover its long term liabilities (€34.6B).


Debt to Equity History and Analysis

Debt Level: DG's debt to equity ratio (136.6%) is considered high.

Reducing Debt: DG's debt to equity ratio has reduced from 142% to 136.6% over the past 5 years.

Debt Coverage: DG's debt is well covered by operating cash flow (22.5%).

Interest Coverage: DG's interest payments on its debt are well covered by EBIT (11.2x coverage).


Balance Sheet


Next Steps

Dividend

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

4.24%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: DG's dividend (4.78%) is higher than the bottom 25% of dividend payers in the French market (2.08%).

High Dividend: DG's dividend (4.78%) is low compared to the top 25% of dividend payers in the French market (6.36%).


Stability and Growth of Payments

Stable Dividend: DG's dividends per share have been stable in the past 10 years.

Growing Dividend: DG's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonable payout ratio (51.9%), DG's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DG's dividends in 3 years are forecast to be covered by earnings (56.4% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

16.8yrs

Average management tenure


CEO

Xavier M. Huillard (65yo)

14.25s

Tenure

€5,384,847

Compensation

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 S ...


CEO Compensation Analysis

Compensation vs Market: Xavier M.'s total compensation ($USD5.81M) is above average for companies of similar size in the French market ($USD4.05M).

Compensation vs Earnings: Xavier M.'s compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Xavier M. Huillard
Chairman & CEO14.25yrs€5.38m0.071% 28.2m
Christian Labeyrie
CFO & Executive VP21.25yrsno datano data
Gregoire Thibault
Group Director of Investor Relations & Financial Communications1.75yrsno datano data
Patrick Richard
General Counsel & Secretary19.25yrsno datano data
Pierre Duprat
Vice-President of Corporate Communicationsno datano datano data
Jocelyne Vassoille
Vice-President of Human Resourcesno datano datano data
Pierre Coppey
Executive Vice President19.25yrs€1.18mno data
Richard M. R. Francioli
Executive Vice-President of Contracting10.25yrsno datano data
Hervé Adam
Executive VP of Vinci Energies - Franceno datano datano data
Patrick Sulliot
Chief Executive Officer of Americas & UK - Euroviano datano datano data

16.8yrs

Average Tenure

58yo

Average Age

Experienced Management: DG's management team is seasoned and experienced (16.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Xavier M. Huillard
Chairman & CEO14.25yrs€5.38m0.071% 28.2m
Arnaud Grison
Chairman & CEO of VINCI Energies1.08yrsno datano data
Yves-Thibault de Silguy
Vice-Chairman9.92yrs€170.00k0.0083% 3.3m
Jérôme Stubler
Chairman of VINCI Construction5.33yrsno datano data
Pierre Anjolras
Chairman of Eurovia6.08yrsno datano data
Olivier de la Roussière
Chairman of VINCI Immobilierno datano datano data
Benoît Lecinq
Chairman of Entreposeno datano datano data
Hugues Fourmentraux
Chairman of VINCI Construction France4.25yrsno datano data
Manuel Peltier
Chairman of Soletanche Freyssineno datano datano data
Gilles Godard
Chairman of VINCI Construction International Network3.42yrsno datano data

5.3yrs

Average Tenure

56yo

Average Age

Experienced Board: DG's board of directors are considered experienced (5.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

VINCI SA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: VINCI SA
  • Ticker: DG
  • Exchange: ENXTPA
  • Founded: 1899
  • Industry: Construction and Engineering
  • Sector: Capital Goods
  • Market Cap: €39.717b
  • Shares outstanding: 552.24m
  • Website: https://www.vinci.com

Number of Employees


Location

  • VINCI SA
  • 1, cours Ferdinand-de-Lesseps
  • Cedex
  • Rueil-Malmaison
  • Ile-de-France
  • 92851
  • France

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
VCIS.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJan 1992
DGENXTPA (Euronext Paris)YesOrdinary SharesFREURJan 1992
0NQMLSE (London Stock Exchange)YesOrdinary SharesGBEURJan 1992
SQUXTRA (XETRA Trading Platform)YesOrdinary SharesDEEURJan 1992
SQUDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
DGPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
DGWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJan 1992
DGBIT (Borsa Italiana)YesOrdinary SharesITEURJan 1992
DGSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFJan 1992
DG NBMV (Bolsa Mexicana de Valores)YesOrdinary SharesMXMXNJan 1992
VCIS.YOTCPK (Pink Sheets LLC)ADRUSUSDMay 2004

Biography

VINCI SA engages in the concessions and contracting businesses worldwide. The company designs, finances, builds, and operates transport infrastructure and public amenities, such as motorways, bridges, tunnels, and urban roads with a network of 3,695 kilometers under public-private partnership arrangements; and provides industry, infrastructure, facilities management, and information and communication technology services. It operates a motorway concession with a network of 4,443 kilometers in France; and 45 airports worldwide. The company also builds and maintains roads, motorways, railways, and urban infrastructure projects; operates stadium projects; produces materials, such as asphalt mixes; and operates quarries, as well as designs and constructs residential and commercial property, civil engineering infrastructure, specialized civil engineering, water and pipeline infrastructure, and other projects. In addition, 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/07 21:46
End of Day Share Price2020/04/07 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.