ENXTPA:DG

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

VINCI SA engages in the concessions and contracting businesses worldwide. More Details


Snowflake Analysis

Moderate growth potential and slightly overvalued.


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 is not significantly more volatile than the rest of French stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: DG's weekly volatility (7%) has been stable over the past year.


Market Performance


7 Day Return

2.4%

DG

2.3%

FR Construction

1.5%

FR Market


1 Year Return

-11.1%

DG

-11.7%

FR Construction

-1.8%

FR Market

Return vs Industry: DG matched the French Construction industry which returned -11.7% over the past year.

Return vs Market: DG underperformed the French Market which returned -1.9% over the past year.


Shareholder returns

DGIndustryMarket
7 Day2.4%2.3%1.5%
30 Day32.4%29.3%19.8%
90 Day8.0%7.0%12.3%
1 Year-9.8%-11.1%-9.8%-11.7%0.2%-1.8%
3 Year11.7%3.6%3.1%-5.7%18.8%8.9%
5 Year69.9%49.0%54.8%32.2%50.4%30.0%

Long-Term 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?

33.7%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: DG (€87.98) is trading below our estimate of fair value (€132.66)

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


Price To Earnings Ratio

PE vs Industry: DG's PE Ratio (30.4x) is in line with the FR Construction industry average.

PE vs Market: DG is poor value based on its PE Ratio (30.4x) compared to the French market (21.1x).


Price to Earnings Growth Ratio

PEG Ratio: DG is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: DG is overvalued based on its PB Ratio (2.6x) compared to the FR Construction industry average (1.5x).


Next Steps

Future Growth

How is VINCI forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

29.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: DG's forecast earnings growth (29.2% per year) is above the savings rate (0.6%).

Earnings vs Market: DG's earnings (29.2% per year) are forecast to grow faster than the French market (25.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: DG's revenue (6% per year) is forecast to grow slower than the French market (7.3% per year).

High Growth Revenue: DG's revenue (6% 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 (13.1%).


Next Steps

Past Performance

How has VINCI performed over the past 5 years?

6.2%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: DG has high quality earnings.

Growing Profit Margin: DG's current net profit margins (3.5%) are lower than last year (6.6%).


Past Earnings Growth Analysis

Earnings Trend: DG's earnings have grown by 6.2% per year over the past 5 years.

Accelerating Growth: DG's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: DG had negative earnings growth (-47.2%) over the past year, making it difficult to compare to the Construction industry average (-55.2%).


Return on Equity

High ROE: DG's Return on Equity (7.5%) is considered low.


Next Steps

Financial Health

How is VINCI's financial position?


Financial Position Analysis

Short Term Liabilities: DG's short term assets (€28.6B) do not cover its short term liabilities (€32.5B).

Long Term Liabilities: DG's short term assets (€28.6B) do not cover its long term liabilities (€34.7B).


Debt to Equity History and Analysis

Debt Level: DG's debt to equity ratio (151.3%) is considered high.

Reducing Debt: DG's debt to equity ratio has increased from 136.3% to 151.3% over the past 5 years.

Debt Coverage: DG's debt is well covered by operating cash flow (21.1%).

Interest Coverage: DG's interest payments on its debt are well covered by EBIT (6.5x coverage).


Balance Sheet


Next Steps

Dividend

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

2.79%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate DG's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate DG's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if DG's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if DG's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: DG is not paying a notable dividend for the French market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of DG's dividend in 3 years as they are not forecast to pay a notable one for the French market.


Next Steps

Management

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

14.8yrs

Average management tenure


CEO

Xavier M. Huillard (66 yo)

14.83yrs

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 ($USD6.44M) is above average for companies of similar size in the French market ($USD4.04M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Xavier M. Huillard
Chairman & CEO14.83yrs€5.38m0.070%
€ 34.5m
Christian Labeyrie
CFO & Executive VP21.83yrsno datano data
Gregoire Thibault
Group Director of Investor Relations & Financial Communications2.33yrsno datano data
Patrick Richard
General Counsel & Secretary19.83yrsno 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 President19.83yrs€1.18mno data
Richard M. R. Francioli
Executive Vice-President of Contracting10.83yrsno 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
Arnaud Palliez
Senior Vice-President of Investor Relationsno datano datano data
Thierry Mirville
Deputy Chief Financial Officer2.67yrsno datano data

14.8yrs

Average Tenure

57yo

Average Age

Experienced Management: DG's management team is seasoned and experienced (14.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Xavier M. Huillard
Chairman & CEO14.83yrs€5.38m0.070%
€ 34.5m
Arnaud Grison
Chairman & CEO of VINCI Energies1.67yrsno datano data
Yves-Thibault de Silguy
Vice-Chairman10.5yrs€170.00k0.0081%
€ 4.0m
Marie-Christine Lombard
Independent Director6.83yrs€82.56k0.00018%
€ 89.0k
Jérôme Stubler
Chairman of VINCI Construction5.92yrsno datano data
Pierre Anjolras
Chairman of Eurovia6.67yrsno datano data
Olivier de la Roussière
Chairman of VINCI Immobilierno datano datano data
Yannick Assouad
Lead Independent Director2.08yrs€131.25k0.00018%
€ 89.0k
Patrick Kadri
Chairman of VINCI Construction Grands Projets2.83yrsno datano data
Hugues Fourmentraux
Chairman of VINCI Construction France4.83yrsno datano data
Manuel Peltier
Chairman of Soletanche Freyssineno datano datano data
Gilles Godard
Chairman of VINCI Construction International Network4yrsno datano data

5.4yrs

Average Tenure

59yo

Average Age

Experienced Board: DG's board of directors are considered experienced (5.4 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: €49.450b
  • Shares outstanding: 562.06m
  • 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 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 Analysis2020/11/28 19:34
End of Day Share Price2020/11/27 00:00
Earnings2020/06/30
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.