ENXTPA:DG

Stock Analysis Report

Executive Summary

VINCI SA engages in the concessions and contracting businesses worldwide.

Snowflake

Fundamentals

Established dividend payer with questionable track record.


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


Market Performance


7 Day Return

-3.7%

DG

-2.3%

FR Construction

-0.4%

FR Market


1 Year Return

24.3%

DG

18.7%

FR Construction

9.5%

FR Market

Return vs Industry: DG exceeded the French Construction industry which returned 18.7% over the past year.

Return vs Market: DG exceeded the French Market which returned 9.5% over the past year.


Shareholder returns

DGIndustryMarket
7 Day-3.7%-2.3%-0.4%
30 Day-2.2%0.1%-0.6%
90 Day3.8%6.0%0.04%
1 Year28.3%24.3%22.9%18.7%13.3%9.5%
3 Year56.7%43.3%51.8%37.6%42.5%28.7%
5 Year157.4%119.0%130.7%92.2%71.0%45.0%

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?

17.6x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Undervalued: DG (€96.54) is trading above our estimate of fair value (€88.35)

Significantly Undervalued: DG is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: DG is poor value based on its PE Ratio (17.6x) compared to the Construction industry average (13.1x).

PE vs Market: DG is poor value based on its PE Ratio (17.6x) compared to the French market (17.5x).


Price to Earnings Growth Ratio

Low 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 (2.9x) compared to the FR Construction industry average (1.7x).


Next Steps

Future Growth

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

8.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DG's forecast earnings growth (8.2% per year) is above the savings rate (0.7%).

Earnings vs Market: DG's earnings (8.2% per year) are forecast to grow slower than the French market (11.5% per year).

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

Revenue vs Market: DG's revenue (3% per year) is forecast to grow slower than the French market (4.5% per year).

High Growth Revenue: DG's revenue (3% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High 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?

7.2%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: DG's earnings have grown by 7.2% per year over the past 5 years.

Accelerating Growth: DG's earnings growth over the past year (0.8%) is below its 5-year average (7.2% per year).

Earnings vs Industry: DG earnings growth over the past year (0.8%) underperformed the Construction industry 8.1%.


Return on Equity

High ROE: DG's Return on Equity (14.7%) is considered low.


Return on Assets

ROA vs Industry: DG has a higher Return on Assets than the Construction industry average last year.


Return on Capital Employed

ROCE Improving: DG's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is VINCI's financial position?


Financial Position Analysis

Short Term Liabilities: DG's short term assets (€27.9B) do not cover its short term liabilities (€31.9B)

Long Term Liabilities: DG's short term assets (27.9B) do not cover its long term liabilities (34.0B)


Debt to Equity History and Analysis

Debt Level: DG's debt to equity ratio (151.8%) is considered high

Reducing Debt: DG's debt to equity ratio has increased from 124% to 151.8% over the past 5 years.

Debt Coverage: DG's debt is not well covered by operating cash flow (18.3%).

Interest Coverage: DG's interest payments on its debt are well covered by EBIT (11.7x coverage).


Balance Sheet

Inventory Level: DG has a low level of unsold assets or inventory.

Debt Coverage by Assets: DG's debt is not covered by short term assets (assets are 0.9x debt).


Next Steps

Dividend

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

2.81%

Current Dividend Yield


Upcoming Dividend Payment

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


Dividend Yield vs Market

company2.8%marketbottom25%1.6%markettop25%4.7%industryaverage3.1%forecastin3Years3.3%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: DG's dividend (2.81%) is higher than the bottom 25% of dividend payers in the French market (1.56%).

High Dividend: DG's dividend (2.81%) is low compared to the top 25% of dividend payers in the French market (4.72%).

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 reasonably low payout ratio (49.4%), DG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: DG's dividends in 3 years are forecast to be well covered by earnings (48.4% payout ratio).


Next Steps

Management

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

13.8yrs

Average management tenure


CEO

Xavier M. Huillard (65yo)

13.8yrs

Tenure

€4,587,922

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 ($USD5.11M) is about average for companies of similar size in the French market ($USD3.60M).

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


Management Age and Tenure

13.8yrs

Average Tenure

61yo

Average Age

Experienced Management: DG's management team is seasoned and experienced (13.8 years average tenure).


Board Age and Tenure

4.8yrs

Average Tenure

56yo

Average Age

Experienced Board: DG's board of directors are considered experienced (4.8 years average tenure).


Insider Trading

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


Ownership Breakdown


Management Team

  • Franck Mougin (62yo)

    Vice President of Human Resources & Sustainable Development

    • Tenure: 10.1yrs
  • Christian Labeyrie (63yo)

    CFO & Executive VP

    • Tenure: 20.8yrs
  • Xavier M. Huillard (65yo)

    Chairman & CEO

    • Tenure: 13.8yrs
    • Compensation: €4.59m
  • Pierre Coppey (56yo)

    Executive Vice President

    • Tenure: 18.8yrs
    • Compensation: €1.18m
  • Pierre Duprat (56yo)

    Vice-President of Corporate Communications

    • Tenure: 0yrs
  • Richard M. R. Francioli (60yo)

    Executive Vice-President of Contracting

    • Tenure: 9.8yrs
  • Patrick Richard (62yo)

    General Counsel & Secretary

    • Tenure: 18.8yrs
  • Gregoire Thibault (39yo)

    Group Director of Investor Relations & Financial Communications

    • Tenure: 1.3yrs
  • Hervé Adam

    Executive VP of Vinci Energies - France

    • Tenure: 0yrs
  • Alexandra Boutelier

    Chief Operating Officer of Consortium Stade de France - Vinci Stadium

    • Tenure: 0yrs

Board Members

  • Yves-Thibault de Silguy (71yo)

    Vice-Chairman

    • Tenure: 9.4yrs
    • Compensation: €233.00k
  • Xavier M. Huillard (65yo)

    Chairman & CEO

    • Tenure: 13.8yrs
    • Compensation: €4.59m
  • Jérôme Stubler (56yo)

    Chairman of VINCI Construction

    • Tenure: 4.8yrs
  • Pierre Anjolras (53yo)

    Chairman of Eurovia

    • Tenure: 5.6yrs
  • Olivier de la Roussière

    Chairman of VINCI Immobilier

    • Tenure: 0yrs
  • Arnaud Grison

    Chairman & CEO of VINCI Energies

    • Tenure: 0.6yrs
  • Benoît Lecinq

    Chairman of Entrepose

    • Tenure: 0yrs
  • Hugues Fourmentraux (51yo)

    Chairman of VINCI Construction France

    • Tenure: 3.8yrs
  • Manuel Peltier

    Chairman of Soletanche Freyssine

    • Tenure: 0yrs
  • Gilles Godard

    Chairman of VINCI Construction International Network

    • Tenure: 2.9yrs

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: €53.751b
  • Shares outstanding: 556.78m
  • 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
SQUDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJan 1992
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
DGSWX (SIX Swiss Exchange)YesOrdinary SharesCHCHFJan 1992
DGPBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBEURJan 1992
DGWBAG (Wiener Boerse AG)YesOrdinary SharesATEURJan 1992
DGBIT (Borsa Italiana)YesOrdinary SharesITEURJan 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 infrastructure and facilities comprising motorway, bridge and tunnel, airport,  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/19 20:53
End of Day Share Price2019/10/18 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


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.