Vicat (ENXTPA:VCT): Assessing Valuation Following Q3 Sales Results and 2025 Guidance Reaffirmation

Vicat (ENXTPA:VCT) just released its third quarter sales figures and reaffirmed its 2025 sales guidance. The company reported higher quarterly sales and maintained its outlook for ongoing like-for-like sales growth.

See our latest analysis for Vicat.

Vicat’s reassurance about future growth seems to have fueled bullish sentiment, as reflected in the stock’s impressive 83% share price return so far this year and a one-year total shareholder return of over 92%. With momentum clearly building, investors appear to be responding positively to both the stronger sales performance and management’s outlook.

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But with the stock surging and near its analyst price target, is Vicat undervalued at current levels, or are investors already paying up in anticipation of future growth?

Most Popular Narrative: 50% Undervalued

Based on the most popular narrative, Vicat’s latest closing price of €66.90 is still well below the consensus fair value estimate of €117.51. This gap highlights investor skepticism surrounding the company's longer-term earnings and margin drivers, despite recent share price strength.

Vicat's strategic expansion and vertical integration in high-growth emerging markets, particularly Brazil (acquisition of Realmix), Egypt, and Turkey, positions the company to benefit from urbanization and infrastructure booms with enhanced market share and reduced reliance on slower-growing mature markets. This supports both revenue and geographic diversification.

Read the complete narrative.

What powers such a bold valuation upgrade? There is a hidden web of projected margin gains, international market shifts, and revenue drivers that the consensus sees, but the market may not fully believe. Unpack which underlying assumptions and growth bets are fueling this significant gap to fair value.

Result: Fair Value of €117.51 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, persistent weak demand in core markets and further currency volatility could still act as catalysts that challenge Vicat’s current valuation narrative.

Find out about the key risks to this Vicat narrative.

Build Your Own Vicat Narrative

Feel free to dive into the numbers yourself and explore your own perspective on Vicat’s outlook. Building a personal narrative is quick and easy: Do it your way.

A good starting point is our analysis highlighting 5 key rewards investors are optimistic about regarding Vicat.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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