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Vivendi

ENXTPA:VIV
Snowflake Description

Flawless balance sheet with reasonable growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VIV
ENXTPA
€33B
Market Cap
  1. Home
  2. FR
  3. Media
Company description

Vivendi SA operates as a content media and communication company in France, rest of Europe, the Americas, Asia/Oceania, and Africa. The last earnings update was 62 days ago. More info.


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VIV Share Price and Events
7 Day Returns
-2.4%
ENXTPA:VIV
-0.7%
FR Entertainment
2%
FR Market
1 Year Returns
22.9%
ENXTPA:VIV
16.8%
FR Entertainment
3.4%
FR Market
VIV Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Vivendi (VIV) -2.4% -1% 17.4% 22.9% 38% 29%
FR Entertainment -0.7% 1.1% 14.3% 16.8% 47% 44.7%
FR Market 2% 2.6% 15.1% 3.4% 28% 31.4%
1 Year Return vs Industry and Market
  • VIV outperformed the Entertainment industry which returned 16.8% over the past year.
  • VIV outperformed the Market in France which returned 3.4% over the past year.
Price Volatility
VIV
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Vivendi 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 Vivendi 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

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

ENXTPA:VIV Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 20 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.6%
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:VIV
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 6.7%
Entertainment Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.959 (1 + (1- 33%) (13.28%))
1.03
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (1.03 * 6.65%)
7.58%

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

The calculations below outline how an intrinsic value for Vivendi 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:VIV DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.58%)
2019 1,194.31 Analyst x9 1,110.14
2020 1,404.50 Analyst x9 1,213.50
2021 1,534.80 Analyst x6 1,232.62
2022 1,633.48 Est @ 6.43% 1,219.41
2023 1,710.60 Est @ 4.72% 1,186.98
2024 1,770.89 Est @ 3.52% 1,142.21
2025 1,818.47 Est @ 2.69% 1,090.24
2026 1,856.68 Est @ 2.1% 1,034.69
2027 1,888.06 Est @ 1.69% 978.02
2028 1,914.56 Est @ 1.4% 921.85
Present value of next 10 years cash flows €11,129.65
ENXTPA:VIV DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €1,914.56 × (1 + 0.73%) ÷ (7.58% – 0.73%)
€28,157.47
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €28,157.47 ÷ (1 + 7.58%)10
€13,557.68
ENXTPA:VIV Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €11,129.65 + €13,557.68
€24,687.33
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €24,687.33 / 1,271.10
€19.42
ENXTPA:VIV Discount to Share Price
Calculation Result
Value per share (EUR) From above. €19.42
Current discount Discount to share price of €25.68
= -1 x (€25.68 - €19.42) / €19.42
-32.2%

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

  • The current share price of Vivendi is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
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 Vivendi's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Vivendi's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:VIV PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €0.10
ENXTPA:VIV Share Price ** ENXTPA (2019-04-17) in EUR €25.68
France Entertainment Industry PE Ratio Median Figure of 7 Publicly-Listed Entertainment Companies 29.21x
France Market PE Ratio Median Figure of 419 Publicly-Listed Companies 16.31x

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

** Primary Listing of Vivendi.

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

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

= 25.68 ÷ 0.10

255.49x

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

  • Vivendi is overvalued based on earnings compared to the FR Entertainment industry average.
  • Vivendi is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does Vivendi's expected growth come at a high price?
Raw Data
ENXTPA:VIV PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 255.49x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts
43.3%per year
France Entertainment Industry PEG Ratio Median Figure of 7 Publicly-Listed Entertainment Companies 1.95x
France Market PEG Ratio Median Figure of 272 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 255.49x ÷ 43.3%

5.9x

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

  • Vivendi is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Vivendi's assets?
Raw Data
ENXTPA:VIV PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €13.65
ENXTPA:VIV Share Price * ENXTPA (2019-04-17) in EUR €25.68
France Entertainment Industry PB Ratio Median Figure of 10 Publicly-Listed Entertainment Companies 2.39x
France Market PB Ratio Median Figure of 618 Publicly-Listed Companies 1.48x
ENXTPA:VIV PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 25.68 ÷ 13.65

1.88x

* Primary Listing of Vivendi.

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

  • Vivendi is good value based on assets compared to the FR Entertainment industry average.
X
Value checks
We assess Vivendi'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 Entertainment 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 Entertainment industry average (and greater than 0)? (1 check)
  5. Vivendi has a total score of 1/6, 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 Vivendi expected to perform in the next 1 to 3 years based on estimates from 20 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
43.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Vivendi expected to grow at an attractive rate?
  • Vivendi's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Vivendi's earnings growth is expected to exceed the France market average.
  • Vivendi's revenue growth is expected to exceed the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:VIV Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:VIV Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts 43.3%
ENXTPA:VIV Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts 5.6%
France Entertainment Industry Earnings Growth Rate Market Cap Weighted Average 36.9%
France Entertainment Industry Revenue Growth Rate Market Cap Weighted Average 5.7%
France Market Earnings Growth Rate Market Cap Weighted Average 13.4%
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:VIV Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:VIV Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 16,589 1,887 1,465 13
2020-12-31 15,778 1,669 1,341 20
2019-12-31 15,471 1,786 1,212 7
ENXTPA:VIV Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 13,932 1,187 127
2018-09-30 14,070 1,612 963
2018-06-30 13,445 1,386 1,217
2018-03-31 13,013 1,923 1,210
2018-01-01 12,518 1,690 1,216
2017-09-30 11,753 987 458
2017-06-30 11,237 987 499
2017-03-31 10,991 427 474
2016-12-31 10,819 658 1,236
2016-09-30 10,859 774 1,322
2016-06-30 10,711 622 900
2016-03-31 10,761 282 1,546

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Vivendi's earnings are expected to grow significantly at over 20% yearly.
  • Vivendi's revenue is expected to grow by 5.6% 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:VIV Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below

All data from Vivendi Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:VIV Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 1.13 1.36 0.93 5.00
2020-12-31 1.04 1.26 0.90 11.00
2019-12-31 0.94 1.10 0.83 11.00
ENXTPA:VIV Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 0.10
2018-09-30 0.76
2018-06-30 0.97
2018-03-31 0.96
2018-01-01 0.97
2017-09-30 0.37
2017-06-30 0.40
2017-03-31 0.38
2016-12-31 0.97
2016-09-30 1.02
2016-06-30 0.68
2016-03-31 1.15

*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.
  • Vivendi is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Vivendi'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.
Vivendi has a total score of 4/6, 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 Vivendi 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 Vivendi's growth in the last year to its industry (Entertainment).
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.
  • Vivendi has delivered over 20% year on year earnings growth in the past 5 years.
  • Vivendi's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Vivendi's 1-year earnings growth is negative, it can't be compared to the FR Entertainment industry average.
Earnings and Revenue History
Vivendi'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 Vivendi Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:VIV 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 13,932.00 127.00 5,038.00
2018-09-30 14,069.50 963.00 5,067.50
2018-06-30 13,445.00 1,217.00 4,924.00
2018-03-31 13,012.50 1,209.50 4,622.50
2018-01-01 12,518.00 1,216.00 4,293.00
2017-09-30 11,753.00 458.00 3,891.00
2017-06-30 11,237.00 499.00 3,494.00
2017-03-31 10,991.00 474.00 3,452.00
2016-12-31 10,819.00 1,236.00 3,411.00
2016-09-30 10,859.00 1,322.00 3,502.00
2016-06-30 10,711.00 900.00 3,535.00
2016-03-31 10,761.00 1,546.00 3,535.00
2015-12-31 10,762.00 699.00 3,588.00
2015-09-30 10,586.00 -114.00 3,467.00
2015-06-30 10,478.00 353.00 3,402.00
2015-03-31 10,264.00 -264.00 3,322.00
2014-12-31 10,089.00 -290.00 3,228.00
2014-09-30 10,077.00 162.00 3,253.00
2014-06-30 10,097.00 -116.00 3,266.00
2014-03-31 9,743.00 -49.00 3,200.00
2013-12-31 10,252.00 43.00 3,376.00
2013-09-30 13,523.00 -1,467.00 4,414.00
2013-06-30 16,430.00 -1,195.00 5,271.00
2013-03-31 19,847.00 -1,005.00 6,234.00
2012-12-31 22,577.00 -654.00 6,928.00
2012-09-30 24,130.00 954.00 7,519.00
2012-06-30 25,568.00 892.00 7,959.00

*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.
  • Vivendi has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Vivendi used its assets less efficiently than the FR Entertainment industry average last year based on Return on Assets.
  • Vivendi has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Vivendi'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 Entertainment 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.
Vivendi has a total score of 2/6, 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 Vivendi'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 Vivendi's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Vivendi is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Vivendi's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Vivendi'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 2.8x 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 Vivendi Company Filings, last reported 3 months ago.

ENXTPA:VIV Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 17,534.00 4,336.00 4,867.00
2018-09-30 17,534.00 4,336.00 4,867.00
2018-06-30 17,336.00 4,509.00 3,789.00
2018-03-31 17,336.00 4,509.00 3,789.00
2018-01-01 17,856.00 4,543.00 2,085.00
2017-09-30 16,998.00 5,849.00 2,667.00
2017-06-30 18,856.00 3,752.00 4,259.00
2017-03-31 19,504.00 3,583.00 4,108.00
2016-12-31 19,612.00 4,081.00 5,112.00
2016-09-30 19,050.00 4,016.00 6,428.00
2016-06-30 18,399.00 4,374.00 6,365.00
2016-03-31 19,954.00 2,499.00 7,235.00
2015-12-31 21,086.00 2,938.00 9,289.00
2015-09-30 21,302.00 2,468.00 10,249.00
2015-06-30 21,923.00 2,379.00 10,492.00
2015-03-31 23,627.00 2,294.00 7,173.00
2014-12-31 22,988.00 2,347.00 6,854.00
2014-09-30 19,929.00 10,222.00 1,677.00
2014-06-30 18,896.00 9,449.00 1,415.00
2014-03-31 19,623.00 12,243.00 889.00
2013-12-31 19,030.00 12,266.00 1,069.00
2013-09-30 21,636.00 17,397.00 925.00
2013-06-30 21,244.00 18,312.00 892.00
2013-03-31 22,546.00 17,828.00 4,659.00
2012-12-31 21,291.00 17,757.00 4,258.00
2012-09-30 22,715.00 18,464.00 3,499.00
2012-06-30 21,879.00 17,404.00 3,342.00
  • Vivendi's level of debt (24.7%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (64.4% vs 24.7% today).
  • Debt is well covered by operating cash flow (27.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 47.3x coverage).
X
Financial health checks
We assess Vivendi'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. Vivendi has a total score of 6/6, 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 Vivendi'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
1.95%
Current annual income from Vivendi dividends. Estimated to be 2.34% next year.
If you bought €2,000 of Vivendi shares you are expected to receive €39 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?
  • Vivendi's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.54%).
  • Vivendi's dividend is below the markets top 25% of dividend payers in France (4.4%).
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:VIV 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 20 Analyst Estimates (S&P Global) See Below
Europe Entertainment Industry Average Dividend Yield Market Cap Weighted Average of 22 Stocks 1.9%
France Market Average Dividend Yield Market Cap Weighted Average of 322 Stocks 3%
France Minimum Threshold Dividend Yield 10th Percentile 0.9%
France Bottom 25% Dividend Yield 25th Percentile 1.5%
France Top 25% Dividend Yield 75th Percentile 4.4%

Industry and Market average data is calculated daily.

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

ENXTPA:VIV Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 0.70 12.00
2020-12-31 0.56 20.00
2019-12-31 0.56 11.00
ENXTPA:VIV Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-04-15 0.500 1.926
2018-04-19 0.450 2.020
2017-04-25 0.400 1.919
2016-02-18 3.000 16.982
2015-11-10 2.000 10.445
2015-09-02 2.000 9.306
2015-02-27 1.000 4.341
2014-11-14 1.000 4.860
2014-08-28 1.000 5.240
2014-04-24 1.000 5.301
2013-04-30 1.000 5.704
2012-06-18 0.968 6.130
2012-03-02 0.968 7.363
2012-03-01 0.968 6.930
2011-03-01 1.355 8.153
2011-02-28 1.355 6.821
2010-11-15 1.355 6.797
2010-03-01 1.355 7.455
2009-04-20 1.355 7.300

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

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Vivendi's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.9x coverage).
X
Income/ dividend checks
We assess Vivendi's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - 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 Vivendi afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Vivendi has a total score of 2/6, 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 Vivendi'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
Arnaud de Puyfontaine
COMPENSATION €2,483,331
AGE 54
TENURE AS CEO 4.8 years
CEO Bio

Mr. Arnaud Roy de Puyfontaine, E.S.C.P., M.B.A., has been Chairman of Management Board at Vivendi SA since June 24, 2014 and has been a Member of Management Board since June 26, 2013 and serves as its Chief Executive Officer. Mr. de Puyfontaine was an Executive Chairman of Telecom Italia S.p.A. since June 1, 2017 and served as its Interim Chief Executive Officer from July 28, 2017 to September 28, 2017. Mr. de Puyfontaine has been Chairman of Editis S.A. since January 2019. He served as Senior Executive Vice President of Media & Content Activities at Vivendi SA from January 1, 2014 to June 24, 2014. He serves as Chairman at TIM Ventures. He served as Executive Vice President of Hearst Magazines International at The Hearst Corporation since June 2011 and Managing Director for Western Europe since August 2013. Mr. de Puyfontaine served as the Chief Executive Officer at The National Magazine Company Limited since March 26, 2009. He served as Chief Executive and Président of Emap France at Top Right Group Limited and Ascential Group Limited. He served as the Chief Executive Officer at Hearst Magazines UK at The Hearst Corporation since 2009. In 2011, on behalf of Hearst Group, he led the acquisition of the 102 magazines of Lagardère Group published abroad. He served as Président Director Général & Chairman of the Board of Emap France since 1999 and Chief Executive Officer since 1998. He served as the Chief Executive Officer and Chairman of the Board of Excelsior Publications. In 1995, as a Member of the founding team of Emap Group in France, he headed Télé Poche and Studio Magazine as Publishing Director and he managed the acquisition of Télé Star and Télé Star Jeux and started up the Emap Star Division, where he managed the following TV and cinema publications: Télé Star, Télé Poche, Télé Star Jeux and Studio Magazine. He was involved in the acquisition of Télé Star. He served as Chief Operating Officer of Emap France and Managing Director of Emap Star, Managing Director and Publisher of the daily newspapers, Le Figaro Economie, Le Figaro Grande Ecoles and Le Figaro Défense, Le Figaro, OTC Project Manager of Rhone Poulenc Pharma in Indonesia since 1989 and Consultant, Audit & Consulting at Arthur Andersen since 1989. He served as Chairman of the Board and Chief Executive Officer of Mondadori France SAS at Arnoldo Mondadori Editore SpA since August 2006 and also served as its President. He headed all digital business for Mondadori. In 1990, he joined Figaro, where he spent five years in multiple roles as Editor of the daily Le Figaro and the weekly Le Figaro Économie. Mr. de Puyfontaine has led several M&A deals. In 2006, he led the sale of Emap France to Mondadori Group of Italy. He co-founded ELTEG in France. He served as Chief Executive Officer of Mondadori France magazines operations. Mr. de Puyfontaine has been a Director at Vivendi Société Anonyme since June 24, 2014. He serves as Chairman at Tramonta SAS. From 2000 to 2005, he served as Chairman of EMW, the Emap/Wanadoo digital subsidiary. He served as a Deputy Chairman of Telecom Italia S.p.A. since April 27, 2016. He serves as Vice-Chairman of the Supervisory Board of Canal+ Group. Mr. de Puyfontaine served as a Director of Schibsted ASA since May 2012 until 2018. Mr. de Puyfontaine serves as a Member of Audit committee of Schibsted ASA since January 2019.He has been a Director at Telecom Italia S.p.A. since December 15, 2015. He served as Director of GVT Participações SA (Brazil). He served as an Independent Director of Kepler. His Positions currently held inculdes Universal Music France (SAS), Chairman of the Supervisory Board. His Other positions and offices (Outside France) includes Gloo Networks plc.(Great Britain), Non-Executive Chairman and Schibsted Media group, Independent Director. His Positions previously held that have expired during the last five years (in France) includes Studiocanal, Member of the Supervisory Board. He serves as a Member of the Supervisory Board of Canal+ Group. He serves as Member of Supervisory Board at CANAL + SA. Since 2000, he served as a Member of the Executive Board/Director of Emap Plc. He served as Executive Director of Figaro and Director of Figaro Grandes Écoles et Universités, Figaro La Défense, Guides du Figaro and Figaro Événements. He served as a Director at The National Magazine Company Limited (United Kingdom), Hearst-Rodale UK Limited (United Kingdom), Handbag.com Limited, Hearst Magazines UK 2012-1, Hearst Magazines, S.L. (Spain), Hearst Magazines Italia S.p.A (Italy), F.E.P. (UK) Limited, COMAG (Condé Nast Magazine Distributors Limited), Compagnie Internationale de Presse and de Publicité (Monaco Hearts Magazines, S.L.) and Hearts Magazines Italia S.p.A (Italy). He served as Director of Mondadori France SAS. He served as Chairman of ESCP Europe Alumni and served as Director at Melty group. He serves as a Board Member of APPM France; Magazine Publishing Association; Magazine Union SPMI; Distribution Group NMPP; Aspen Institute; 24h00.fr, ecommerce site; SGAM AI;‘Le Cercle’ and ‘Dialogue Economique’, France. He served as a Director of PPA (Professional Publishers Association). Mr. de Puyfontaine is a graduate of the ESCP in 1988, the Multimedia Institute in 1992 and the Harvard Business School AMP program in 2000.

CEO Compensation
  • Arnaud's compensation has been consistent with company performance over the past year.
  • Arnaud's remuneration is about average for companies of similar size in France.
Management Team Tenure

Average tenure and age of the Vivendi management team in years:

3.4
Average Tenure
57
Average Age
  • The tenure for the Vivendi management team is about average.
Management Team

Arnaud de Puyfontaine

TITLE
Chairman of Management Board & CEO
COMPENSATION
€2M
AGE
54
TENURE
4.8 yrs

Hervé Philippe

TITLE
CFO & Member of Management Board
COMPENSATION
€2M
AGE
60
TENURE
5.3 yrs

Frédéric Crépin

TITLE
Member of the Management Board
COMPENSATION
€6M
AGE
49
TENURE
3.4 yrs

Simon Gillham

TITLE
Senior EVP of Communications & Member of Management Board
COMPENSATION
€6M
AGE
62
TENURE
3.4 yrs

Stéphane Roussel

TITLE
Member of Management Board & COO
COMPENSATION
€4M
AGE
57
TENURE
3.4 yrs

Gilles Alix

TITLE
Member of the Management Board & Senior VP
COMPENSATION
€563K
AGE
60
TENURE
1.6 yrs

Cédric de Bailliencourt

TITLE
Member of the Management Board & Senior VP
COMPENSATION
€183K
AGE
49
TENURE
1.6 yrs

Xavier Le Roy

TITLE
Executive Vice President of Investor Relations

Mathieu Peyceré

TITLE
Executive Vice President of Group Human Resources
AGE
51
TENURE
6.7 yrs

Vincent Vallejo

TITLE
Senior Vice President of Audit & Special Projects
AGE
57
TENURE
14.9 yrs
Board of Directors Tenure

Average tenure and age of the Vivendi board of directors in years:

4.7
Average Tenure
53.5
Average Age
  • The tenure for the Vivendi board of directors is about average.
Board of Directors

Yannick Bolloré

TITLE
Chairman of Supervisory Board
COMPENSATION
€130K
AGE
38
TENURE
1 yrs

Philippe Bénacin

TITLE
Vice Chairman of Supervisory Board
COMPENSATION
€105K
AGE
59
TENURE
4.8 yrs

Jean-Rene Fourtou

TITLE
Honorary Chairman
AGE
79
TENURE
4.8 yrs

Henri Lachmann

TITLE
Honorary Vice-Chairman of the Supervisory Board
COMPENSATION
€30K
AGE
80

Cathia Lawson-Hall

TITLE
Independent Member of Supervisory Board
COMPENSATION
€115K
AGE
47
TENURE
3.6 yrs

Aliza Jabès

TITLE
Independent Member of Supervisory Board
COMPENSATION
€90K
AGE
56
TENURE
9 yrs

Vincent Bolloré

TITLE
Censor & Special Advisor to the Chairman of the Management Board
COMPENSATION
€60K
AGE
66

Katie Stanton

TITLE
Independent Member of Supervisory Board
COMPENSATION
€90K
AGE
49
TENURE
4.8 yrs

Paulo Cardoso

TITLE
Member of Supervisory Board
COMPENSATION
€105K
AGE
45
TENURE
4.5 yrs

Dominique Delport

TITLE
Member of Supervisory Board
COMPENSATION
€90K
AGE
51
TENURE
4 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 Vivendi'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. Vivendi 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

How Do Vivendi SA’s (EPA:VIV) Returns Compare To Its Industry?

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business.

Simply Wall St -

Is Vivendi SA (EPA:VIV) A Smart Pick For Income Investors?

Historically, Vivendi SA (EPA:VIV) has been paying a dividend to shareholders. … Does Vivendi tick all the boxes of a great dividend stock? … How I analyze a dividend stock

Simply Wall St -

Could The Vivendi SA (EPA:VIV) Ownership Structure Tell Us Something Useful?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … We also tend to see lower insider ownership in companies that were previously publicly owned. … Our analysis of the ownership of the company, below, shows that.

Simply Wall St -

Vivendi SA (EPA:VIV) Has Attractive Fundamentals

Help shape the future of investing tools and receive a $20 prize! … By this I mean, I look at stocks holistically, from their financial health to their future outlook. … financial health as well as

Simply Wall St -

Why Vivendi SA (EPA:VIV) Is A Financially Healthy Company

Investors looking for stocks with high market liquidity and little debt on the balance sheet should consider Vivendi SA (EPA:VIV). … With a market valuation of €29b, VIV is a safe haven in times of market uncertainty due to its strong balance sheet. … Using the most recent data for VIV, I will determine its financial status based on its solvency and liquidity, and assess whether the stock is a safe investment.

Simply Wall St -

Should You Worry About Vivendi SA's (EPA:VIV) CEO Pay?

In 2014 Arnaud de Puyfontaine was appointed CEO of Vivendi SA (EPA:VIV). … First, this article will compare CEO compensation with compensation at other large companies. … How Does Arnaud de Puyfontaine's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Here's How P/E Ratios Can Help Us Understand Vivendi SA (EPA:VIV)

The goal of this article is to teach you how to use price to earnings ratios (P/E ratios). … How Do I Calculate Vivendi's Price To Earnings Ratio … Price to Earnings Ratio = Price per Share ÷ Earnings per Share (EPS)

Simply Wall St -

Is Vivendi SA (EPA:VIV) Worth €21.05 Based On Intrinsic Value?

How far off is Vivendi SA (EPA:VIV) from its intrinsic value? … by taking the expected future cash flows and discounting them to their present 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 -

Is Vivendi SA's (EPA:VIV) Growth Strong Enough To Justify Its December Share Price?

Vivendi SA (EPA:VIV) is considered a high-growth stock, but its last closing price of €21.22 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … Let’s look into this by assessing VIV's expected growth over the next few years. … According to the analysts covering the company, the following few years should bring about good growth prospects for Vivendi

Simply Wall St -

Is Vivendi SA's (EPA:VIV) ROE Of 7.2% Concerning?

With that in mind, this article will work through how we can use Return On Equity (ROE) to better understand a business. … Another way to think of that is that for every €1 worth of equity in the company, it was able to earn €0.072. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Company Info

Description

Vivendi SA operates as a content media and communication company in France, rest of Europe, the Americas, Asia/Oceania, and Africa. It operates through Universal Music Group, Canal+ Group, Havas, Gameloft, Vivendi Village, and New Initiatives segments. The Universal Music Group segment engages in the sale of digital and physical recorded music; and exploitation of music publishing rights, as well as provision of artist and merchandising services. The Canal+ Group segment publishes and distributes premium and thematic pay-TV and free-to-air channels; and produces, sells, and distributes movies and TV series. The Havas segment includes communications disciplines, such as creativity, media expertise, and healthcare/wellness. The Gameloft segment engages in the creation and publishing of downloadable video games for mobile phones, tablets, triple-play boxes, and smart TVs. The Vivendi Village segment provides ticketing services; and owns and manages intellectual property rights, live performances, festival productions, and venues. The New Initiatives segment operates Dailymotion, a video content aggregation and distribution platform; and Vivendi Content, a content creation unit, as well as develops ultra-high-speed Internet service. The company was formerly known as Vivendi Universal S.A. and changed its name to Vivendi SA in April 2006. Vivendi SA was founded in 1853 and is headquartered in Paris, France.

Details
Name: Vivendi SA
VIV
Exchange: ENXTPA
Founded: 1853
€32,641,766,722
1,271,096,835
Website: http://www.vivendi.com
Address: Vivendi SA
42 avenue de Friedland,
Cedex 08,
Paris,
Ile-de-France, 75380,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA VIV Common Shares Euronext Paris FR EUR 11. Dec 2000
OTCPK VIVE.F Common Shares Pink Sheets LLC US USD 11. Dec 2000
DB VVU Common Shares Deutsche Boerse AG DE EUR 11. Dec 2000
XTRA VVU Common Shares XETRA Trading Platform DE EUR 11. Dec 2000
LSE 0IIF Common Shares London Stock Exchange GB EUR 11. Dec 2000
SWX VIV Common Shares SIX Swiss Exchange CH CHF 11. Dec 2000
BIT VIV Common Shares Borsa Italiana IT EUR 11. Dec 2000
WBAG VIV Common Shares Wiener Boerse AG AT EUR 11. Dec 2000
BMV VIVEN N Common Shares Bolsa Mexicana de Valores MX MXN 11. Dec 2000
BATS-CHIXE VIVP Common Shares BATS 'Chi-X Europe' GB EUR 11. Dec 2000
OTCPK VIVH.Y UNSPONSORD ADR Pink Sheets LLC US USD 12. Jan 2011
DB VVUD UNSPONSORD ADR Deutsche Boerse AG DE EUR 12. Jan 2011
Number of employees
Current staff
Staff numbers
41,600
Vivendi employees.
Industry
Movies and Entertainment
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/17 20:43
End of day share price update: 2019/04/17 00:00
Last estimates confirmation: 2019/04/17
Last earnings filing: 2019/02/14
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.