Announcement • Jan 09
Pierre et Vacances SA, Annual General Meeting, Feb 12, 2026 Pierre et Vacances SA, Annual General Meeting, Feb 12, 2026. Location: 84 rue charles michels, saint denis France Buy Or Sell Opportunity • Jan 02
Now 20% undervalued Over the last 90 days, the stock has risen 10% to €1.85. The fair value is estimated to be €2.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 5.3% per annum. Earnings are also forecast to grow by 30% per annum over the same time period. Major Estimate Revision • Dec 10
Consensus EPS estimates fall by 10% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate fell from €0.12 to €0.107 per share. Revenue forecast steady at €2.01b. Net income forecast to grow 55% next year vs 0.9% decline forecast for Hospitality industry in France. Consensus price target broadly unchanged at €2.25. Share price rose 13% to €1.74 over the past week. Reported Earnings • Dec 04
Full year 2025 earnings released Full year 2025 results: Revenue: €1.87b (up 2.7% from FY 2024). Net income: €33.5m (up 67% from FY 2024). Profit margin: 1.8% (up from 1.1% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.3% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Hospitality industry in France. Board Change • Nov 07
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Victoire Aubry was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Oct 28
Pierre et Vacances SA to Report First Half, 2026 Results on May 28, 2026 Pierre et Vacances SA announced that they will report first half, 2026 results on May 28, 2026 Price Target Changed • Jul 29
Price target increased by 8.7% to €2.18 Up from €2.00, the current price target is an average from 4 analysts. New target price is 29% above last closing price of €1.69. Stock is up 21% over the past year. The company is forecast to post earnings per share of €0.098 for next year compared to €0.044 last year. New Risk • Jun 12
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€497m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Negative equity (-€497m). Minor Risk Large one-off items impacting financial results. Buy Or Sell Opportunity • Jun 04
Now 20% undervalued The stock has been flat over the last 90 days, currently trading at €1.48. The fair value is estimated to be €1.86, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 12% in 2 years. Earnings are forecast to grow by 3,978% in the next 2 years. Reported Earnings • May 29
First half 2025 earnings released First half 2025 results: Revenue: €765.1m (down 1.7% from 1H 2024). Net loss: €117.0m (loss widened 10% from 1H 2024). Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Hospitality industry in France. Reported Earnings • Jan 28
Full year 2024 earnings released Full year 2024 results: Revenue: €1.82b (up 1.8% from FY 2023). Net income: €27.5m (up €90.6m from FY 2023). Profit margin: 1.5% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Hospitality industry in France. New Risk • Jan 27
New major risk - Negative shareholders equity The company has negative equity. Total equity: -€513m This is considered a major risk. Being in negative equity means that the company's liabilities exceed its assets, meaning it owes more to creditors than it has in owned assets. While this doesn't mean the company is about to collapse, in the long-term, this is unsustainable. The company may have issues meeting financial obligations, is at risk of becoming insolvent and may have difficulty raising capital, especially more debt, if needed. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Negative equity (-€513m). Major Estimate Revision • Jan 24
Consensus EPS estimates fall by 19% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €0.105 to €0.085 per share. Revenue forecast steady at €1.94b. Net income forecast to grow 134% next year vs 0.4% growth forecast for Hospitality industry in France. Consensus price target of €1.98 unchanged from last update. Share price was steady at €1.52 over the past week. Announcement • Jan 09
Pierre et Vacances SA, Annual General Meeting, Feb 13, 2025 Pierre et Vacances SA, Annual General Meeting, Feb 13, 2025. Location: hotel des arts et metiers, 9 bis avenue d iena, paris France New Risk • Dec 13
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.1x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.1x net interest cover). Negative equity (-€513m). Announcement • Sep 06
Pierre et Vacances SA to Report Fiscal Year 2025 Results on Dec 04, 2025 Pierre et Vacances SA announced that they will report fiscal year 2025 results on Dec 04, 2025 Announcement • Sep 05
Pierre et Vacances SA to Report First Half, 2025 Results on May 28, 2025 Pierre et Vacances SA announced that they will report first half, 2025 results on May 28, 2025 Announcement • Apr 24
Pierre et Vacances SA Provides Earnings Guidance for the Full Year 2024 Pierre et Vacances SA provided earnings guidance for the full year 2024. The group expects full-year revenue growth in line with its targets and is confident in a sharp increase in operating profitability, driven especially by strict execution of the Reinvention plan. Announcement • Mar 01
Pierre et Vacances SA to Report Fiscal Year 2024 Results on Dec 04, 2024 Pierre et Vacances SA announced that they will report fiscal year 2024 results at 10:00 AM, Central European Standard Time on Dec 04, 2024 Announcement • Jan 24
Pierre et Vacances SA to Report Q2, 2024 Results on Apr 23, 2024 Pierre et Vacances SA announced that they will report Q2, 2024 results After-Market on Apr 23, 2024 Reported Earnings • Dec 03
Full year 2023 earnings released Full year 2023 results: Revenue: €1.79b (up 11% from FY 2022). Net loss: €63.2m (down 122% from profit in FY 2022). Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Hospitality industry in France. New Risk • Nov 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of French stocks, typically moving 6.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings are forecast to decline by an average of 67% per year for the foreseeable future. Minor Risks Negative equity (-€471m). Share price has been volatile over the past 3 months (6.7% average weekly change). Large one-off items impacting financial results. Announcement • Nov 11
Pierre et Vacances SA, Annual General Meeting, Feb 08, 2024 Pierre et Vacances SA, Annual General Meeting, Feb 08, 2024. Announcement • Nov 10
Pierre et Vacances SA to Report First Half, 2024 Results on May 30, 2024 Pierre et Vacances SA announced that they will report first half, 2024 results on May 30, 2024 Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €1.34, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 14x in the Hospitality industry in France. Total loss to shareholders of 52% over the past three years. Major Estimate Revision • Oct 19
Consensus EPS estimates increase by 12% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €0.043 to €0.048. Revenue forecast unchanged at €1.86b. Net income forecast to shrink 90% next year vs 8.8% growth forecast for Hospitality industry in France . Consensus price target broadly unchanged at €2.02. Share price fell 6.2% to €1.15 over the past week. Announcement • Jul 21
Pierre et Vacances SA Provides Earnings Guidance for the Fourth Quarter of 2022/2023 Pierre et Vacances SA provided earnings guidance for the fourth quarter of 2022/2023. In view of the portfolio of reservations to date, the Group is currently expecting growth in revenue in Fourth Quarter 2022/2023 compared with Fourth Quarter 2021/2022. This growth will be less extensive than that seen over the first nine months of the year given the historically high base provided by the summer of 2022, which was particularly robust. New Risk • Jun 11
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.0x net interest cover). Earnings are forecast to decline by an average of 68% per year for the foreseeable future. Shareholders have been substantially diluted in the past year (over 45x increase in shares outstanding). Minor Risks Negative equity (-€471m). Large one-off items impacting financial results. Major Estimate Revision • May 28
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.045 to €0.039 per share. Revenue forecast steady at €1.85b. Net income forecast to shrink 94% next year vs 18% growth forecast for Hospitality industry in France . Consensus price target up from €1.92 to €2.04. Share price fell 9.8% to €1.67 over the past week. Price Target Changed • May 25
Price target increased by 8.5% to €2.04 Up from €1.88, the current price target is an average from 5 analysts. New target price is 22% above last closing price of €1.67. Stock is down 74% over the past year. The company is forecast to post earnings per share of €0.054 for next year compared to €10.28 last year. Major Estimate Revision • May 11
Consensus EPS estimates fall by 14% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.063 to €0.054 per share. Revenue forecast steady at €1.89b. Net income forecast to shrink 91% next year vs 18% growth forecast for Hospitality industry in France . Consensus price target up from €1.88 to €1.92. Share price rose 3.9% to €1.70 over the past week. Major Estimate Revision • Apr 20
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.034 to €0.03 per share. Revenue forecast steady at €1.87b. Net income forecast to shrink 94% next year vs 18% growth forecast for Hospitality industry in France . Consensus price target up from €1.81 to €1.88. Share price rose 3.9% to €1.70 over the past week. Major Estimate Revision • Mar 07
Consensus EPS estimates fall by 18% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from €0.041 to €0.034 per share. Revenue forecast steady at €1.81b. Net income forecast to shrink 94% next year vs 16% growth forecast for Hospitality industry in France . Consensus price target up from €1.77 to €1.81. Share price was steady at €1.77 over the past week. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment improved over the past week After last week's 23% share price gain to €1.34, the stock trades at a forward P/E ratio of 38x. Average forward P/E is 18x in the Hospitality industry in Europe. Total loss to shareholders of 77% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.00 per share. Announcement • Dec 22
Pierre et Vacances SA, Annual General Meeting, Feb 16, 2023 Pierre et Vacances SA, Annual General Meeting, Feb 16, 2023. Reported Earnings • Dec 03
Full year 2022 earnings released Full year 2022 results: Revenue: €1.77b (up 89% from FY 2021). Net income: €325.0m (up €751.4m from FY 2021). Profit margin: 18% (up from net loss in FY 2021). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Hospitality industry in France. Price Target Changed • Nov 16
Price target decreased to €1.40 Down from €4.23, the current price target is an average from 4 analysts. New target price is 66% above last closing price of €0.84. Stock is down 87% over the past year. The company is forecast to post a net loss per share of €0.02 next year compared to a net loss per share of €43.67 last year. Board Change • Nov 16
Less than half of directors are independent There are 10 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 10 new directors. No experienced directors. No highly experienced directors. 4 independent directors (6 non-independent directors). Employee Representative Director Emmanuel de Pinel de la Taule is the most experienced director on the board, commencing their role in 2020. Independent Chairman Georges Sampeur was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Nov 05
Pierre et Vacances SA to Report First Half, 2023 Results on May 26, 2023 Pierre et Vacances SA announced that they will report first half, 2023 results on May 26, 2023 Price Target Changed • Jul 20
Price target decreased to €4.73 Down from €6.73, the current price target is an average from 4 analysts. New target price is 7.7% below last closing price of €5.12. Stock is down 49% over the past year. The company is forecast to post a net loss per share of €0.87 next year compared to a net loss per share of €43.67 last year. Reported Earnings • Jun 01
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up €392.9m from 1H 2021). Profit margin: (up from net loss in 1H 2021). Over the next year, revenue is forecast to grow 28%, compared to a 23% growth forecast for the industry in France. Major Estimate Revision • Apr 27
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €1.53b to €1.73b. EPS estimate fell from -€0.92 to -€1.71 per share. Hospitality industry in France expected to see average net income growth of 47% next year. Consensus price target down from €6.88 to €6.73. Share price rose 7.4% to €7.09 over the past week. Major Estimate Revision • Apr 21
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €1.53b to €1.71b. EPS estimate reaffirmed at -€0.92 per share. Hospitality industry in France expected to see average net income growth of 50% next year. Consensus price target broadly unchanged at €6.85. Share price rose 4.6% to €6.60 over the past week. Breakeven Date Change • Mar 16
Forecast breakeven date moved forward to 2022 The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2023. New consensus forecast suggests the company will make a profit of €4.52m in 2022. Earnings growth of 148% is required to achieve expected profit on schedule. Major Estimate Revision • Mar 12
Consensus revenue estimates increase by 16% The consensus outlook for revenues in 2022 has improved. 2022 revenue forecast increased from €1.32b to €1.53b. Forecast losses expected to reduce from -€1.15 to -€0.88 per share. Hospitality industry in France expected to see average net income growth of 50% next year. Consensus price target up from €7.63 to €8.33. Share price rose 12% to €6.01 over the past week. Price Target Changed • Feb 18
Price target decreased to €7.63 Down from €9.75, the current price target is an average from 4 analysts. New target price is 24% above last closing price of €6.17. Stock is down 49% over the past year. Price Target Changed • Dec 23
Price target decreased to €7.63 Down from €9.75, the current price target is an average from 4 analysts. New target price is 17% above last closing price of €6.50. Stock is down 52% over the past year. Major Estimate Revision • Dec 08
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from €1.51b to €1.62b. Forecast EPS reduced from -€0.78 to -€1.44 per share. Hospitality industry in France expected to see average net income growth of 27% next year. Consensus price target down from €11.63 to €9.75. Share price rose 9.5% to €6.78 over the past week. Reported Earnings • Dec 03
Full year 2021 earnings: Revenues miss analyst expectations Full year 2021 results: Revenue: €1.05b (down 10% from FY 2020). Net loss: €341.4m (loss narrowed 20% from FY 2020). Revenue missed analyst estimates by 12%. Over the next year, revenue is forecast to grow 58%, compared to a 33% growth forecast for the restaurants industry in France. Major Estimate Revision • Jul 27
Consensus EPS estimates fall to -€33.96 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from €1.12b to €1.05b. Losses expected to increase from -€26.58 to -€33.96. Hospitality industry in France expected to see average net income growth of 42% next year. Consensus price target down from €13.13 to €11.63. Share price fell 2.1% to €9.81 over the past week. Breakeven Date Change • Jul 27
Forecast breakeven pushed back to 2023 The 4 analysts covering Pierre et Vacances previously expected the company to break even in 2022. New consensus forecast suggests losses will reduce by 85% per year to 2022. The company is expected to make a profit of €37.2m in 2023. Average annual earnings growth of 93% is required to achieve expected profit on schedule. Price Target Changed • Jul 21
Price target decreased to €12.00 Down from €13.95, the current price target is an average from 4 analysts. New target price is 20% above last closing price of €10.02. Stock is down 35% over the past year. Reported Earnings • Jun 05
First half 2021 earnings released The company reported a poor first half result with increased losses, weaker revenues and weaker control over costs. First half 2021 results: Revenue: €244.5m (down 61% from 1H 2020). Net loss: €392.7m (loss widened 146% from 1H 2020). Price Target Changed • May 19
Price target increased to €13.70 Up from €12.60, the current price target is an average from 4 analysts. New target price is 16% above last closing price of €11.80. Stock is down 33% over the past year. Major Estimate Revision • Apr 17
Consensus EPS estimates fall to -€18.97 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from €1.30b to €1.21b. Losses expected to increase from -€16.33 to -€18.97. Hospitality industry in France expected to see average net income growth of 49% next year. Consensus price target broadly unchanged at €12.73. Share price fell 2.2% to €11.70 over the past week. Major Estimate Revision • Jan 22
Analysts lower EPS estimates to -€10.67 The 2021 consensus revenue estimate was lowered from €1.34b to €1.30b. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -€5.40 to -€10.67 for the same period. The Hospitality industry in France is expected to see an average net income growth of 54% next year. The consensus price target was lowered from €15.75 to €14.00. Share price is down by 1.4% to €10.85 over the past week. Major Estimate Revision • Jan 08
Analysts lower EPS estimates to -€4.53 The 2021 consensus revenue estimate was lowered from €1.37b to €1.34b. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -€2.96 to -€4.53 for the same period. The Hospitality industry in France is expected to see an average net income growth of 56% next year. The consensus price target was lowered from €17.00 to €15.25. Share price is down by 19% to €11.95 over the past week. Price Target Changed • Jan 08
Price target lowered to €15.25 Down from €17.00, the current price target is an average from 4 analysts. The new target price is 28% above the current share price of €11.95. As of last close, the stock is down 40% over the past year. Reported Earnings • Dec 26
Full year 2020 earnings released: €44.51 loss per share The company reported a poor full year result with increased losses and weaker revenues and control over expenses. Full year 2020 results: Revenue: €1.17b (down 27% from FY 2019). Net loss: €425.2m (loss widened €392.2m from FY 2019). Over the last 3 years on average, earnings per share has fallen by 76% per year but the company’s share price has only fallen by 32% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Dec 26
Earnings beat expectations, revenue disappoints Revenue missed analyst estimates by 9.1%. Earnings per share (EPS) exceeded analyst estimates by 76%. Over the next year, revenue is forecast to grow 17% compared to a 8.6% decline forecast for the Hospitality industry in France. Major Estimate Revision • Dec 02
Analysts lower EPS estimates to -€3.00 The 2021 consensus revenue estimate was lowered from €1.51b to €1.44b. The company's losses are expected to worsen with analysts lowering their EPS forecasts from -€1.98 to -€3.00 for the same period. The Hospitality industry in France is expected to see an average net income growth of 46% next year. The consensus price target increased from €15.30 to €17.00. Share price is up 1.4% to €14.90 over the past week. Is New 90 Day High Low • Nov 24
New 90-day high: €15.10 The company is up 6.0% from its price of €14.25 on 25 August 2020. The French market is up 11% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €5.00 per share. Price Target Changed • Oct 19
Price target lowered to €15.30 Down from €19.70, the current price target is an average from 3 analysts. The new target price is 37% above the current share price of €11.15. As of last close, the stock is down 27% over the past year. Price Target Changed • Oct 16
Price target lowered to €18.45 Down from €19.95, the current price target is an average from 3 analysts. The new target price is 61% above the current share price of €11.45. As of last close, the stock is down 25% over the past year. Is New 90 Day High Low • Oct 13
New 90-day low: €11.80 The company is down 25% from its price of €15.75 on 15 July 2020. The French market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.32 per share. Is New 90 Day High Low • Sep 22
New 90-day low: €12.50 The company is down 29% from its price of €17.65 on 24 June 2020. The French market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Hospitality industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €8.32 per share.