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Publicis Groupe

ENXTPA:PUB
Snowflake Description

Established dividend payer with mediocre balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
PUB
ENXTPA
€12B
Market Cap
  1. Home
  2. FR
  3. Media
Company description

Publicis Groupe S.A. provides marketing, communication, and digital transformation services worldwide. The last earnings update was 41 days ago. More info.


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PUB Share Price and Events
7 Day Returns
1.9%
ENXTPA:PUB
0.8%
FR Media
2.5%
FR Market
1 Year Returns
-10%
ENXTPA:PUB
-11.5%
FR Media
3.5%
FR Market
PUB Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Publicis Groupe (PUB) 1.9% 7.1% 0.9% -10% -16.7% -20.6%
FR Media 0.8% 4.6% 5.9% -11.5% -19.7% -19.9%
FR Market 2.5% 4.6% 13.6% 3.5% 27.5% 33.2%
1 Year Return vs Industry and Market
  • PUB outperformed the Media industry which returned -11.5% over the past year.
  • PUB underperformed the Market in France which returned 3.5% over the past year.
Price Volatility
PUB
Industry
5yr Volatility vs Market

Value

 Is Publicis Groupe undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Publicis Groupe to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Publicis Groupe.

ENXTPA:PUB Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 18 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year FR Government Bond Rate 0.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTPA:PUB
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.7%
Media Unlevered Beta Simply Wall St/ S&P Global 0.8
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.803 (1 + (1- 33%) (41.75%))
1.018
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.02
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (1.018 * 6.65%)
7.5%

Discounted Cash Flow Calculation for ENXTPA:PUB using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Publicis Groupe is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

ENXTPA:PUB DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.5%)
2019 1,081.69 Analyst x12 1,006.19
2020 1,196.94 Analyst x11 1,035.68
2021 1,267.50 Analyst x7 1,020.18
2022 1,278.00 Analyst x1 956.84
2023 1,288.20 Est @ 0.8% 897.15
2024 1,298.23 Est @ 0.78% 841.03
2025 1,308.15 Est @ 0.76% 788.31
2026 1,318.03 Est @ 0.76% 738.83
2027 1,327.90 Est @ 0.75% 692.40
2028 1,337.78 Est @ 0.74% 648.86
Present value of next 10 years cash flows €8,625.49
ENXTPA:PUB DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €1,337.78 × (1 + 0.73%) ÷ (7.5% – 0.73%)
€19,903.47
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €19,903.47 ÷ (1 + 7.5%)10
€9,653.80
ENXTPA:PUB Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €8,625.49 + €9,653.80
€18,279.29
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €18,279.29 / 230.64
€79.26
ENXTPA:PUB Discount to Share Price
Calculation Result
Value per share (EUR) From above. €79.26
Current discount Discount to share price of €51.04
= -1 x (€51.04 - €79.26) / €79.26
35.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Publicis Groupe is available for.
Intrinsic value
36%
Share price is €51.04 vs Future cash flow value of €79.26
Current Discount Checks
For Publicis Groupe to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Publicis Groupe's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Publicis Groupe's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Publicis Groupe's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Publicis Groupe's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:PUB PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €4.01
ENXTPA:PUB Share Price ** ENXTPA (2019-03-19) in EUR €51.04
France Media Industry PE Ratio Median Figure of 20 Publicly-Listed Media Companies 12.66x
France Market PE Ratio Median Figure of 417 Publicly-Listed Companies 15.9x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Publicis Groupe.

ENXTPA:PUB PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:PUB Share Price ÷ EPS (both in EUR)

= 51.04 ÷ 4.01

12.73x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Publicis Groupe is overvalued based on earnings compared to the FR Media industry average.
  • Publicis Groupe is good value based on earnings compared to the France market.
Price based on expected Growth
Does Publicis Groupe's expected growth come at a high price?
Raw Data
ENXTPA:PUB PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 12.73x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts
6.8%per year
France Media Industry PEG Ratio Median Figure of 15 Publicly-Listed Media Companies 1.55x
France Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.36x

*Line of best fit is calculated by linear regression .

ENXTPA:PUB PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 12.73x ÷ 6.8%

1.88x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Publicis Groupe is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Publicis Groupe's assets?
Raw Data
ENXTPA:PUB PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €29.59
ENXTPA:PUB Share Price * ENXTPA (2019-03-19) in EUR €51.04
France Media Industry PB Ratio Median Figure of 25 Publicly-Listed Media Companies 1.5x
France Market PB Ratio Median Figure of 619 Publicly-Listed Companies 1.5x
ENXTPA:PUB PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:PUB Share Price ÷ Book Value per Share (both in EUR)

= 51.04 ÷ 29.59

1.72x

* Primary Listing of Publicis Groupe.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Publicis Groupe is overvalued based on assets compared to the FR Media industry average.
X
Value checks
We assess Publicis Groupe's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Media industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Media industry average (and greater than 0)? (1 check)
  5. Publicis Groupe has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Publicis Groupe expected to perform in the next 1 to 3 years based on estimates from 18 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
6.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Publicis Groupe expected to grow at an attractive rate?
  • Publicis Groupe's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Publicis Groupe's earnings growth is positive but not above the France market average.
  • Publicis Groupe's revenue growth is positive but not above the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:PUB Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:PUB Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 18 Analysts 6.8%
ENXTPA:PUB Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 18 Analysts 1.4%
France Media Industry Earnings Growth Rate Market Cap Weighted Average 12%
France Media Industry Revenue Growth Rate Market Cap Weighted Average 3.2%
France Market Earnings Growth Rate Market Cap Weighted Average 12.9%
France Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTPA:PUB Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:PUB Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 10,513 1,446 1
2021-12-31 10,877 1,744 1,120 2
2020-12-31 9,825 1,542 1,078 9
2019-12-31 9,518 1,384 1,023 9
ENXTPA:PUB Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 9,951 1,942 919
2018-09-30 9,484 1,846 848
2018-06-30 9,294 1,750 776
2018-03-31 9,492 1,619 819
2017-12-31 9,690 1,487 862
2017-09-30 10,035 1,322 171
2017-06-30 10,101 1,156 -521
2017-03-31 9,917 1,114 -524
2016-12-31 9,733 1,072 -527
2016-09-30 9,773 1,142 196
2016-06-30 9,812 1,212 919
2016-03-31 9,707 1,309 910

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Publicis Groupe's earnings are expected to grow by 6.8% yearly, however this is not considered high growth (20% yearly).
  • Publicis Groupe's revenue is expected to grow by 1.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTPA:PUB Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below

All data from Publicis Groupe Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:PUB Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31
2021-12-31 5.12 6.31 4.20 5.00
2020-12-31 4.77 5.60 4.18 13.00
2019-12-31 4.47 4.93 4.05 13.00
ENXTPA:PUB Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 4.01
2018-09-30 3.71
2018-06-30 3.41
2018-03-31 3.61
2017-12-31 3.81
2017-09-30 0.76
2017-06-30 -2.32
2017-03-31 -2.34
2016-12-31 -2.36
2016-09-30 0.88
2016-06-30 4.15
2016-03-31 4.10

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Publicis Groupe is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Publicis Groupe's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the France market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the France market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Publicis Groupe has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Publicis Groupe performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Publicis Groupe's growth in the last year to its industry (Media).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Publicis Groupe's year on year earnings growth rate was negative over the past 5 years, however the most recent earnings are above average.
  • Publicis Groupe's 1-year earnings growth exceeds its 5-year average (6.6% vs -8.9%)
  • Publicis Groupe's earnings growth has not exceeded the FR Media industry average in the past year (6.6% vs 7.8%).
Earnings and Revenue History
Publicis Groupe's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Publicis Groupe Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:PUB Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 9,951.00 919.00
2018-09-30 9,483.50 847.50 167.50
2018-06-30 9,294.00 776.00 335.00
2018-03-31 9,492.00 819.00 335.00
2017-12-31 9,690.00 862.00 335.00
2017-09-30 10,034.50 170.50 339.50
2017-06-30 10,101.00 -521.00 344.00
2017-03-31 9,917.00 -524.00 344.00
2016-12-31 9,733.00 -527.00 344.00
2016-09-30 9,772.50 196.00 352.00
2016-06-30 9,812.00 919.00 360.00
2016-03-31 9,706.50 910.00 360.00
2015-12-31 9,601.00 901.00 360.00
2015-09-30 9,020.00 862.00 320.50
2015-06-30 8,439.00 823.00 281.00
2015-03-31 7,847.00 771.50 281.00
2014-12-31 7,255.00 720.00 281.00
2014-09-30 7,107.50 729.50 274.50
2014-06-30 6,960.00 739.00 268.00
2014-03-31 6,956.50 765.50 268.00
2013-12-31 6,953.00 792.00 268.00
2013-09-30 6,915.00 782.00 263.00
2013-06-30 6,877.00 772.00 258.00
2013-03-31 6,743.50 752.00 258.00
2012-12-31 6,610.00 732.00 258.00
2012-09-30 6,405.50 683.00 188.00
2012-06-30 6,201.00 642.00 330.00
2012-03-31 6,008.50 621.00 330.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Publicis Groupe has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Publicis Groupe used its assets less efficiently than the FR Media industry average last year based on Return on Assets.
  • Publicis Groupe's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Publicis Groupe's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Media industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Publicis Groupe has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Publicis Groupe's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Publicis Groupe's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Publicis Groupe's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Publicis Groupe's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Publicis Groupe's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Publicis Groupe Company Filings, last reported 2 months ago.

ENXTPA:PUB Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 6,853.00 4,915.00 3,206.00
2018-09-30 6,853.00 4,915.00 3,206.00
2018-06-30 6,154.00 4,902.00 1,812.00
2018-03-31 6,154.00 4,902.00 1,812.00
2017-12-31 5,958.00 3,158.00 2,407.00
2017-09-30 5,958.00 3,158.00 2,407.00
2017-06-30 5,630.00 3,243.00 1,151.00
2017-03-31 5,630.00 3,243.00 1,151.00
2016-12-31 6,065.00 3,536.00 2,228.00
2016-09-30 6,065.00 3,536.00 2,228.00
2016-06-30 6,514.00 3,583.00 1,064.00
2016-03-31 6,514.00 3,583.00 1,064.00
2015-12-31 6,583.00 3,574.00 1,672.00
2015-09-30 6,583.00 3,574.00 1,672.00
2015-06-30 6,050.00 3,987.00 1,090.00
2015-03-31 6,050.00 3,987.00 1,090.00
2014-12-31 6,115.00 2,202.00 3,158.00
2014-09-30 6,115.00 2,202.00 3,158.00
2014-06-30 5,220.00 823.00 836.00
2014-03-31 5,220.00 823.00 836.00
2013-12-31 5,133.00 865.00 1,442.00
2013-09-30 5,133.00 865.00 1,442.00
2013-06-30 4,600.00 1,392.00 750.00
2013-03-31 4,600.00 1,392.00 750.00
2012-12-31 4,659.00 1,112.00 1,314.00
2012-09-30 4,658.00 1,112.00 1,314.00
2012-06-30 3,600.00 1,687.00 772.00
2012-03-31 3,600.00 1,687.00 772.00
  • Publicis Groupe's level of debt (71.7%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (16.8% vs 71.7% today).
  • Debt is well covered by operating cash flow (39.5%, greater than 20% of total debt).
  • Publicis Groupe earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Publicis Groupe's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Publicis Groupe has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.15%
Current annual income from Publicis Groupe dividends. Estimated to be 4.55% next year.
If you bought €2,000 of Publicis Groupe shares you are expected to receive €83 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Publicis Groupe's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.62%).
  • Publicis Groupe's dividend is below the markets top 25% of dividend payers in France (4.5%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTPA:PUB Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 18 Analyst Estimates (S&P Global) See Below
France Media Industry Average Dividend Yield Market Cap Weighted Average of 16 Stocks 4.3%
France Market Average Dividend Yield Market Cap Weighted Average of 319 Stocks 3.1%
France Minimum Threshold Dividend Yield 10th Percentile 1%
France Bottom 25% Dividend Yield 25th Percentile 1.6%
France Top 25% Dividend Yield 75th Percentile 4.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTPA:PUB Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 2.23 1.00
2021-12-31 2.48 11.00
2020-12-31 2.35 21.00
2019-12-31 2.21 21.00
ENXTPA:PUB Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-06 2.120 4.312
2018-05-28 2.000 3.723
2017-04-27 1.850 3.101
2016-05-26 1.600 2.505
2015-02-12 1.200 1.879
2014-02-13 1.100 1.844
2013-02-14 0.900 1.552
2012-08-03 0.700 1.592
2012-02-09 0.700 1.793
2011-02-10 0.700 1.940
2010-03-19 0.600 1.726
2010-02-17 0.600 2.025
2009-03-20 0.600 2.419

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Publicis Groupe's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.1x coverage).
X
Income/ dividend checks
We assess Publicis Groupe's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Publicis Groupe afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Publicis Groupe has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Arthur Sadoun
COMPENSATION €1,729,332
AGE 47
TENURE AS CEO 1.8 years
CEO Bio

Mr. Arthur Sadoun has been Chairman of Management Board and Chief Executive Officer of Publicis Groupe S.A. since June 1, 2017. Mr. Sadoun was Chief Executive Officer of Publicis Communication since 2015. He served as an Independent Director at Fnac Darty SA until May 18, 2018. Mr. Sadoun created his own public relations firm in Chile before joining the TBWA network in Paris as Director of International Strategic Planning and then became Director of Development. In 2000 he was named Chief Executive Officer of TBWA/Paris and then went on to become Chairman of the Board in 2003. In 2006, he joined Publicis Conseil as Chairman and Chief Executive Officer. He serves as Chair of the Management Board and Chief Executive Officer of Publicis Conseil SA, Director of Sichuan Yongyang Advertising Co., Ltd (China) and Director of BBH Holdings Limited (United Kingdom). He served as Chairman of Elephant Seven Espana SAU (Spain), Chairman of Marcel SAS (France), Chairman of Publicis Dialog SA (France), Chairman of Publicis Webperformance SAS (France), Legal representative of Publicis Dialog, Chairman of Temdo SAS (France), Publicis Eto SAS (France) and Publicis K1 SAS (France), Director of Gobule Bleu SPRL (Belgium), Director of Proximedia SA (Belgium), Director of PBC Communicaçao LTDA (Brazil), Director of G/B2 Inc. (Canada), Director of Cyber Media Group SA (Luxembourg), Director of Kitchen Reklamebyra AS (Norway), Director of LAP Agencias de Comunicacao LDA (Portugal), Director of Poke London Limited (United Kingdom), Director of Publicis Limited (United Kingdom), Director of Publicis Canada Inc. (Canada), Director of MSL France SA (formerly F2SCom) (France), Chairman of the Board of Directors, Publicis Srl (Italy), Manager of Publicis Red Lion GmbH (Germany), Manager of Bielefeld GmbH (Germany) and Manager, Pixelpark GmbH (Germany). He was Director of Director of DPZ&T Comunicaçoes SA (Brazil) until January 2018. Mr. Sadoun is a graduate of the European Business School and holds an MBA from the INSEAD in 1997.

CEO Compensation
  • Insufficient data for Arthur to compare compensation growth.
  • Arthur's remuneration is lower than average for companies of similar size in France.
Management Team Tenure

Average tenure and age of the Publicis Groupe management team in years:

1.8
Average Tenure
49
Average Age
  • The average tenure for the Publicis Groupe management team is less than 2 years, this suggests a new team.
Management Team

Arthur Sadoun

TITLE
Chairman of Management Board
COMPENSATION
€2M
AGE
47
TENURE
1.8 yrs

Jean-Michel Etienne

TITLE
Group CFO
COMPENSATION
€2M
AGE
67
TENURE
18.5 yrs

Steve King

TITLE
COO & Member of Management Board
COMPENSATION
€2M
AGE
59
TENURE
1.8 yrs

Anne-Gabrielle Heilbronner

TITLE
Secretary General & Member of Management Board
COMPENSATION
€1M
AGE
49
TENURE
4.5 yrs

Agathe Bousquet

TITLE
President
AGE
44
TENURE
1.5 yrs

Alessandra Girolami

TITLE
Vice President of Investor Relations & Strategic Financial Planning

Céline Fronval

TITLE
Group General Counsel
TENURE
1.8 yrs

Emmanuel Andre

TITLE
Chief Talent Officer
TENURE
1.5 yrs

Rishad Tobaccowala

TITLE
Chief Growth Officer
TENURE
5.7 yrs

Alejandro Mendoza

TITLE
President & CEO of Publicis Communications Mexico and Regional Executive Chairman
Board of Directors Tenure

Average tenure and age of the Publicis Groupe board of directors in years:

5.5
Average Tenure
69
Average Age
  • The tenure for the Publicis Groupe board of directors is about average.
Board of Directors

Maurice Lévy

TITLE
Chairman of Supervisory Board
COMPENSATION
€3M
AGE
76
TENURE
1.8 yrs

Élisabeth Badinter

TITLE
Vice Chairman of Supervisory Board
COMPENSATION
€160K
AGE
74
TENURE
1.8 yrs

Tom Bernardin

TITLE
Chairman of Leo Burnett

Elie Ohayon

TITLE
Chairman of Saatchi & Saatchi Duke
TENURE
6.8 yrs

Susan Giannino

TITLE
Chairman & Chief Executive Officer of Publicis Worldwide USA
TENURE
5.3 yrs

Rich Stoddart

TITLE
Chairman of Leo Burnett North America
AGE
55

Alex Saber

TITLE
Chairman of Publicis Media

Justin Billingsley

TITLE
Chairman of Publicis Groupe Dach & CEO of Publicis Emil

Marie-Josee Kravis

TITLE
Member of the Supervisory Board
COMPENSATION
€55K
AGE
69
TENURE
8.8 yrs

Jean Charest

TITLE
Member of the Supervisory Board
COMPENSATION
€75K
AGE
60
TENURE
5.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Publicis Groupe's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Publicis Groupe has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

The Publicis Groupe (EPA:PUB) Share Price Is Down 22% So Some Shareholders Are Getting Worried

(EPA:PUB), since the last five years saw the share price fall 22%. … While the share price declined over five years, Publicis Groupe actually managed to increase EPS by an average of 1.8% per year. … With EPS gaining and a declining share price, one would suggest the market is cooling on its view of the company.

Simply Wall St -

Is Publicis Groupe S.A.'s (EPA:PUB) 14% Better Than Average?

By way of learning-by-doing, we'll look at ROE to gain a better understanding of Publicis Groupe S.A. … One way to conceptualize this, is that for each €1 of shareholders' equity it has, the company made €0.14 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Has Publicis Groupe S.A. (EPA:PUB) Improved Earnings Growth In Recent Times?

Today I will assess PUB's recent performance announced on 31 December 2018 and compare these figures to its historical trend and industry movements. … How Did PUB's Recent Performance Stack Up Against Its Past. … PUB's trailing twelve-month earnings (from 31 December 2018) of €919m has.

Simply Wall St -

What Should We Expect From Publicis Groupe S.A.'s (EPA:PUB) Earnings In The Years Ahead?

Want to participate in a short research study? … Help shape the future of investing tools and you could win a $250 gift card! … Publicis Groupe S.A.'s (EPA:PUB) most recent earnings announcement in December 2018a

Simply Wall St -

Why We Like Publicis Groupe S.A.’s (EPA:PUB) 13% Return On Capital Employed

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Understanding Return On Capital Employed (ROCE). … The formula for calculating the return on capital employed is:

Simply Wall St -

Publicis Groupe S.A. (EPA:PUB): Is It A Smart Long Term Opportunity?

In June 2018, Publicis Groupe S.A. … (EPA:PUB) released its earnings update. … the past 5-year average growth rate of -17%

Simply Wall St -

Publicis Groupe S.A. (EPA:PUB) Is Trading At A 43.95% Discount

I am going to run you through how I calculated the intrinsic value of Publicis Groupe S.A. … by taking the foreast future cash flows of the company and discounting them back to today's value. … Anyone interested in learning a bit more about intrinsic value should have a read of the Simply Wall St analysis model

Simply Wall St -

Do Insiders Own Shares In Publicis Groupe SA (EPA:PUB)?

A look at the shareholders of Publicis Groupe SA (EPA:PUB) can tell us which group is most powerful. … So it's nice to see some insider ownership, because it may suggest that management is owner-oriented. … With a market capitalization of €12b, Publicis Groupe is rather large.

Simply Wall St -

With A Return On Equity Of 13%, Has Publicis Groupe SA's (EPA:PUB) Management Done Well?

Our data shows Publicis Groupe has a return on equity of 13% for the last year. … One way to conceptualize this, is that for each €1 of shareholders' equity it has, the company made €0.13 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Publicis Groupe SA (EPA:PUB)'s Return on Capital

and looking to gauge the potential return on investment in Publicis Groupe SA (EPA:PUB). … Your return is tied to PUB’s ability to do this because the amount earned is used to invest in opportunities to grow the business or payout dividends, which are the two sources of return on investment. … Thus, to understand how your money can grow by investing in Publicis Groupe, you need to look at what the company returns to owners for the use of their capital, which can be done in many ways but today we will use return on capital employed (ROCE)

Simply Wall St -

Company Info

Description

Publicis Groupe S.A. provides marketing, communication, and digital transformation services worldwide. The company offers creative solutions, including advertising, interactive communications and digital marketing, direct marketing and customer relationship management, sales promotion and point-of-sale marketing, public relations, corporate and financial communications, and events communication services. It also provides media consulting/media planning and space purchase services. In addition, the company engages in the creation of corporate or commercial Websites and Intranets, social network expertise, search engine optimization, Internet ads, and various forms of Internet and mobile communication; and provision of online direct marketing consulting services. Further, it provides healthcare communication services under the Digitas Health and Publicis Health Media brands. The company serves clients in the non-food consumer products, finance, automobile, TMT, healthcare, food and beverage, leisure/energy/luxury, retail, and other sectors. Publicis Groupe S.A. was founded in 1926 and is headquartered in Paris, France.

Details
Name: Publicis Groupe S.A.
PUB
Exchange: ENXTPA
Founded: 1926
€11,771,612,492
230,635,041
Website: http://www.publicisgroupe.com
Address: Publicis Groupe S.A.
133, Avenue des Champs-Élysées,
Paris,
Ile-de-France, 75008,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA PUB Ordinary Shares Euronext Paris FR EUR 02. Jan 1980
OTCPK PGPE.F Ordinary Shares Pink Sheets LLC US USD 02. Jan 1980
DB PU4 Ordinary Shares Deutsche Boerse AG DE EUR 02. Jan 1980
LSE 0FQI Ordinary Shares London Stock Exchange GB EUR 02. Jan 1980
SWX PUB Ordinary Shares SIX Swiss Exchange CH CHF 02. Jan 1980
WBAG PUB Ordinary Shares Wiener Boerse AG AT EUR 02. Jan 1980
BMV PUB N Ordinary Shares Bolsa Mexicana de Valores MX MXN 02. Jan 1980
BATS-CHIXE PUBP Ordinary Shares BATS 'Chi-X Europe' GB EUR 02. Jan 1980
OTCPK PUBG.Y SPONSORED ADR Pink Sheets LLC US USD 12. Sep 2000
Number of employees
Current staff
Staff numbers
80,000
Publicis Groupe employees.
Industry
Advertising
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 20:35
End of day share price update: 2019/03/19 00:00
Last estimates confirmation: 2019/03/18
Last earnings filing: 2019/02/06
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.