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Veolia Environnement

ENXTPA:VIE
Snowflake Description

Proven track record second-rate dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VIE
ENXTPA
€11B
Market Cap
  1. Home
  2. FR
  3. Utilities
Company description

Veolia Environnement S.A. designs and provides water, waste, and energy management solutions worldwide. The last earnings update was 101 days ago. More info.


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VIE Share Price and Events
7 Day Returns
2.8%
ENXTPA:VIE
1.5%
Europe Integrated Utilities
3.5%
FR Market
1 Year Returns
-2.6%
ENXTPA:VIE
13.2%
Europe Integrated Utilities
-1.6%
FR Market
VIE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Veolia Environnement (VIE) 2.8% 6.1% 3.2% -2.6% -10.4% 48.1%
Europe Integrated Utilities 1.5% 4.2% 5.4% 13.2% -1.4% -16.8%
FR Market 3.5% 7.1% 2.6% -1.6% 27.6% 25.6%
1 Year Return vs Industry and Market
  • VIE underperformed the Integrated Utilities industry which returned 13.2% over the past year.
  • VIE underperformed the Market in France which returned -1.6% over the past year.
Price Volatility
VIE
Industry
5yr Volatility vs Market
Related Companies

VIE Value

 Is Veolia Environnement 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 Veolia Environnement 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 Veolia Environnement.

ENXTPA:VIE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 13 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 12.1%
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:VIE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate 0.7%
Equity Risk Premium S&P Global 9.3%
Integrated Utilities Unlevered Beta Simply Wall St/ S&P Global 0.65
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.652 (1 + (1- 33%) (131.62%))
1.227
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.23
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.73% + (1.227 * 9.27%)
12.1%

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

The calculations below outline how an intrinsic value for Veolia Environnement is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

ENXTPA:VIE DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Levered FCF (EUR, Millions) 725.06 757.97 721.00 756.50 871.00
Source Analyst x9 Analyst x7 Analyst x3 Analyst x2 Analyst x1
Present Value
Discounted (@ 12.1%)
646.79 603.16 511.80 479.03 492.00
Present value of next 5 years cash flows €2,732.78
ENXTPA:VIE DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= €871.00 × (1 + 0.73%) ÷ (12.1% – 0.73%)
€7,717.80
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= €7,717.80 ÷ (1 + 12.1%)5
€4,359.53
ENXTPA:VIE Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= €2,732.78 + €4,359.53
€7,092.31
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €7,092.31 / 553.08
€12.82
ENXTPA:VIE Discount to Share Price
Calculation Result
Value per share (EUR) From above. €12.82
Current discount Discount to share price of €19.09
= -1 x (€19.09 - €12.82) / €12.82
-48.9%

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

  • The current share price of Veolia Environnement 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 Veolia Environnement's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Veolia Environnement's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:VIE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in EUR €1.02
ENXTPA:VIE Share Price ** ENXTPA (2019-02-15) in EUR €19.09
Europe Integrated Utilities Industry PE Ratio Median Figure of 19 Publicly-Listed Integrated Utilities Companies 15.5x
France Market PE Ratio Median Figure of 416 Publicly-Listed Companies 15.13x

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

** Primary Listing of Veolia Environnement.

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

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

= 19.09 ÷ 1.02

18.71x

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

  • Veolia Environnement is overvalued based on earnings compared to the Europe Integrated Utilities industry average.
  • Veolia Environnement is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does Veolia Environnement's expected growth come at a high price?
Raw Data
ENXTPA:VIE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 18.71x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts
8.3%per year
Europe Integrated Utilities Industry PEG Ratio Median Figure of 14 Publicly-Listed Integrated Utilities Companies 3.2x
France Market PEG Ratio Median Figure of 276 Publicly-Listed Companies 1.31x

*Line of best fit is calculated by linear regression .

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

= PE Ratio ÷ Net Income Annual Growth Rate

= 18.71x ÷ 8.3%

2.27x

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

  • Veolia Environnement is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Veolia Environnement's assets?
Raw Data
ENXTPA:VIE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in EUR €10.19
ENXTPA:VIE Share Price * ENXTPA (2019-02-15) in EUR €19.09
Europe Integrated Utilities Industry PB Ratio Median Figure of 20 Publicly-Listed Integrated Utilities Companies 1.63x
France Market PB Ratio Median Figure of 617 Publicly-Listed Companies 1.49x
ENXTPA:VIE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

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

= 19.09 ÷ 10.19

1.87x

* Primary Listing of Veolia Environnement.

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

  • Veolia Environnement is overvalued based on assets compared to the Europe Integrated Utilities industry average.
X
Value checks
We assess Veolia Environnement'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 Integrated Utilities 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 Integrated Utilities industry average (and greater than 0)? (1 check)
  5. Veolia Environnement has a total score of 0/6, 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.

VIE Future Performance

 How is Veolia Environnement expected to perform in the next 1 to 3 years based on estimates from 13 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
8.3%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Veolia Environnement expected to grow at an attractive rate?
  • Veolia Environnement's earnings growth is expected to exceed the low risk savings rate of 0.7%.
Growth vs Market Checks
  • Veolia Environnement's earnings growth is positive but not above the France market average.
  • Veolia Environnement's revenue growth is positive but not above the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:VIE Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:VIE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 13 Analysts 8.3%
ENXTPA:VIE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 13 Analysts 3%
Europe Integrated Utilities Industry Earnings Growth Rate Market Cap Weighted Average 6.1%
Europe Integrated Utilities Industry Revenue Growth Rate Market Cap Weighted Average 1.8%
France Market Earnings Growth Rate Market Cap Weighted Average 11.7%
France Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*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:VIE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:VIE Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 29,962 2,968 891 1
2022-12-31 28,786 2,993 831 3
2021-12-31 28,146 2,703 790 5
2020-12-31 27,190 2,593 752 11
2019-12-31 26,335 2,456 693 13
2018-12-31 25,615 2,259 592 13
ENXTPA:VIE Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-09-30 25,310 562
2018-06-30 25,503 2,355 410
2018-03-31 25,370 453
2017-12-31 25,125 2,452 321
2017-09-30 24,752 2,477 304
2017-06-30 24,538 2,502 292
2017-03-31 24,363 2,529 316
2016-12-31 24,187 2,556 340
2016-09-30 24,335 2,513 295
2016-06-30 24,482 2,470 250
2016-03-31 24,724 2,467 308
2015-12-31 24,965 2,464 366

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Veolia Environnement's earnings are expected to grow by 8.3% yearly, however this is not considered high growth (20% yearly).
  • Veolia Environnement's revenue is expected to grow by 3% 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:VIE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 13 Analyst Estimates (S&P Global) See Below

All data from Veolia Environnement Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:VIE Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.58 1.58 1.58 1.00
2022-12-31 1.50 1.63 1.39 3.00
2021-12-31 1.43 1.58 1.34 3.00
2020-12-31 1.32 1.51 1.23 9.00
2019-12-31 1.22 1.38 1.10 10.00
2018-12-31 1.12 1.22 0.94 5.00
ENXTPA:VIE Past Financials Data
Date (Data in EUR Millions) EPS *
2018-09-30 1.02
2018-06-30 0.74
2018-03-31
2017-12-31 0.58
2017-09-30 0.55
2017-06-30 0.53
2017-03-31 0.58
2016-12-31 0.62
2016-09-30 0.54
2016-06-30 0.45
2016-03-31 0.56
2015-12-31 0.67

*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.
  • Veolia Environnement is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Veolia Environnement'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 Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe 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.
Veolia Environnement 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.

VIE Past Performance

  How has Veolia Environnement 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 Veolia Environnement's growth in the last year to its industry (Integrated Utilities).
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.
  • Veolia Environnement has delivered over 20% year on year earnings growth in the past 5 years.
  • Veolia Environnement's 1-year earnings growth exceeds its 5-year average (85% vs 39%)
  • Veolia Environnement's earnings growth has exceeded the Europe Integrated Utilities industry average in the past year (85% vs 11.8%).
Earnings and Revenue History
Veolia Environnement'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 Veolia Environnement Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:VIE Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 25,310.45 561.95 729.70
2018-06-30 25,502.60 410.00 2,833.30
2018-03-31 25,370.35 453.10 2,138.80
2017-12-31 25,124.60 320.50 2,850.20
2017-09-30 24,751.50 303.70 2,817.35
2017-06-30 24,538.40 291.60 2,800.50
2017-03-31 24,362.70 315.85 2,817.50
2016-12-31 24,187.00 340.10 2,834.50
2016-09-30 24,334.65 294.85 2,879.15
2016-06-30 24,482.30 249.60 2,923.80
2016-03-31 24,723.55 307.90 2,951.85
2015-12-31 24,964.80 366.20 2,979.90
2015-09-30 24,839.80 378.45 3,013.10
2015-06-30 24,714.80 390.70 3,046.30
2015-03-31 24,297.20 293.20 2,999.50
2014-12-31 23,879.60 195.70 2,952.70
2014-09-30 23,553.95 38.65 2,912.25
2014-06-30 23,228.30 -118.40 2,871.80
2014-03-31 23,024.00 -161.20 2,883.45
2013-12-31 22,819.70 -204.00 2,895.10
2013-09-30 22,842.05 -91.05 2,929.35
2013-06-30 22,864.40 21.90 2,963.60
2013-03-31 23,051.65 -2.95 2,998.10
2012-12-31 23,238.90 -27.80 3,032.60
2012-09-30 18,385.80 -540.20 2,610.20
2012-06-30 25,720.90 -132.60 3,363.80
2012-03-31 27,148.70 -371.70 3,515.50

*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.
  • Veolia Environnement has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Veolia Environnement used its assets less efficiently than the Europe Integrated Utilities industry average last year based on Return on Assets.
  • Veolia Environnement has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Veolia Environnement'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 Integrated Utilities 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.
Veolia Environnement has a total score of 4/6, 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.

VIE Health

 How is Veolia Environnement'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 Veolia Environnement's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Veolia Environnement's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Veolia Environnement's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Veolia Environnement'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.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1x 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 Veolia Environnement Company Filings, last reported 4 months ago.

ENXTPA:VIE Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 6,713.80 13,896.80 3,379.90
2018-06-30 6,713.80 13,896.80 3,379.90
2018-03-31 8,656.70 14,281.10 6,636.80
2017-12-31 8,656.70 14,281.10 6,636.80
2017-09-30 8,656.70 14,281.10 6,636.80
2017-06-30 8,418.40 13,720.60 5,271.40
2017-03-31 8,418.40 13,720.60 5,271.40
2016-12-31 8,876.50 13,350.50 5,670.20
2016-09-30 8,876.50 13,350.50 5,670.20
2016-06-30 9,051.00 12,351.60 3,826.20
2016-03-31 9,051.00 12,351.60 3,826.20
2015-12-31 9,130.30 12,341.00 4,340.40
2015-09-30 9,130.30 12,341.00 4,340.40
2015-06-30 9,547.30 10,965.40 1,870.00
2015-03-31 9,547.30 10,965.40 1,870.00
2014-12-31 9,479.40 11,544.00 3,277.80
2014-09-30 9,479.40 11,544.00 3,277.80
2014-06-30 9,577.60 11,652.50 2,983.70
2014-03-31 9,577.60 11,652.50 2,983.70
2013-12-31 9,659.50 12,901.10 4,385.20
2013-09-30 9,659.50 12,901.10 4,385.20
2013-06-30 9,764.10 13,941.70 3,840.30
2013-03-31 9,764.10 13,941.70 3,840.30
2012-12-31 8,497.60 15,990.10 5,167.40
2012-09-30 8,497.60 15,990.10 5,167.40
2012-06-30 9,712.20 19,962.20 4,915.00
2012-03-31 9,712.20 19,962.20 4,915.00
  • Veolia Environnement's level of debt (207%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (133.6% vs 207% today).
  • Debt is not well covered by operating cash flow (16.9%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 2.9x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Veolia Environnement'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. Veolia Environnement has a total score of 1/6, 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.

VIE Dividends

 What is Veolia Environnement'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
4.4%
Current annual income from Veolia Environnement dividends. Estimated to be 5.47% next year.
If you bought €2,000 of Veolia Environnement shares you are expected to receive €88 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?
  • Veolia Environnement's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.65%).
  • Veolia Environnement's dividend is below the markets top 25% of dividend payers in France (4.41%).
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:VIE 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 13 Analyst Estimates (S&P Global) See Below
Europe Integrated Utilities Industry Average Dividend Yield Market Cap Weighted Average of 19 Stocks 4.5%
France Market Average Dividend Yield Market Cap Weighted Average of 320 Stocks 3.1%
France Minimum Threshold Dividend Yield 10th Percentile 1%
France Bottom 25% Dividend Yield 25th Percentile 1.7%
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:VIE Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.27 2.00
2022-12-31 1.20 4.00
2021-12-31 1.12 5.00
2020-12-31 1.04 13.00
2019-12-31 0.96 16.00
2018-12-31 0.89 15.00
ENXTPA:VIE Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2018-02-22 0.840 4.523
2017-02-27 0.800 4.159
2016-02-25 0.730 3.931
2015-02-26 0.700 3.526
2014-02-27 0.700 4.967
2012-11-07 0.700 6.746
2012-08-07 0.700 8.299
2012-08-02 0.700 8.453
2012-03-01 0.700 6.870
2011-03-04 1.210 9.886
2010-03-05 1.210 5.601
2009-05-07 1.210 5.247
2009-02-17 1.210 6.934

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 Veolia Environnement's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Veolia Environnement'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 Veolia Environnement afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Veolia Environnement has a total score of 3/6, see the detailed checks below.


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

VIE Management

 What is the CEO of Veolia Environnement'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
Antoine Frérot
COMPENSATION €3,050,895
AGE 60
TENURE AS CEO 9.3 years
CEO Bio

Mr. Antoine Frérot serves as the Chairman and Chief Executive Officer at Veolia Komodity CR, s.r.o. Mr. Frérot serves as the Chairman and Chief Executive Officer of Veolia Environmental Services North America Corp. He has been the Chairman and Chief Executive Officer of Van Gansewinkel Environmental Services Belgium NV since December 2010. Mr. Frérot serves as Chief Executive Officer at Veolia Ceska Republika, a.s. Mr. Frérot has been the Chief Executive Officer of Veolia Environnement Services Re at Dalkia AB since November 2009. He serves as Chief Executive Officer of Veolia Water at Veolia North America, LLC. Mr. Frérot has been the Chairman of Veolia Environnement Services Re at Dalkia AB since December 12, 2010. He has been the Chairman of Veolia Ceska Republika, a.s. since December 12, 2010. He served as Senior Executive Vice-President of Veolia Environnement S.A. since January 2003. He served as the Head of Veolia Eau-Compagnie Général des Eaux. He served as the Head of Water Division of Veolia Water Solutions & Technologies S.A. He served as the Chief Executive Officer of Veolia Eau-Compagnie Général des Eaux since January 21, 2003 and served as its Member of the Management Board. He served as an Executive Vice President of Veolia Environnement S.A. at Veolia Eau-Compagnie Générale des Eaux since April 2000. He served as the Chief Executive Officer of Veolia Water S.A since 1995 and also served as its Member of Management Board. He served as the Chief Executive Officer of Veolia Water Solutions & Technologies S.A., a subsidiary of Veolia Environnement Services Re since 1995. He served as the Head of Water Division of Veolia Environnement SA since April 2000 and served as its Member of the Management Board from April 2000 to April 30, 2003. Mr. Frérot started his career in 1981 as a Research Engineer at the Bureau Central d'Études pour l'Outre-Mer. In 1983, he joined the Research centre at the École Nationale des Ponts et Chaussées as Project Manager and served as its Deputy Director from 1984 to 1988. From 1988 to 1990, he served as the Head of Financial Operations of the Crédit National. He joined the Générale des Eaux in 1990 and served as Managing Director in charge of public transport of Connex since 1995. Since 2000, he served as the Chief Executive Officer of Veolia Transportation, VE's Transport Division. He serves as President of The Supervisory Board at EOLFI SA. He serves as a Member of Supervisory Board at Dalkia International and Veolia Energie International. He serves as Member of the Board of Directors of Société des Eaux de Marseille S.A. He has been a Director of Veolia Environnement Services Re since May 7, 2010. He is graduated from the Ecole Polytechnique in 1977 and holds a Ph.D in Civil Engineering from the École Nationale des Ponts et Chaussées.

CEO Compensation
  • Antoine's compensation has increased by more than 20% in the past year.
  • Antoine's remuneration is about average for companies of similar size in France.
Management Team Tenure

Average tenure and age of the Veolia Environnement management team in years:

1.1
Average Tenure
53
Average Age
  • The average tenure for the Veolia Environnement management team is less than 2 years, this suggests a new team.
Management Team

Antoine Frérot

TITLE
Chairman & CEO
COMPENSATION
€3M
AGE
60
TENURE
9.3 yrs

Claude Laruelle

TITLE
Chief Financial Officer
TENURE
0.3 yrs

Estelle Brachlianoff

TITLE
Chief Operating Officer
AGE
46
TENURE
0.4 yrs

Jean-Christophe Laissy

TITLE
Senior VP of Information Systems & Technology? and CIO
TENURE
1.1 yrs

Ronald Wasylec

TITLE
Head of Investor Relations

Eric Haza

TITLE
Chief Legal Officer

Jean-Baptiste Carpentier

TITLE
Chief Compliance Officer
AGE
53
TENURE
1.1 yrs

Laurent Obadia

TITLE
Senior VP of Communications and Advisor to the Chairman & CEO
TENURE
1.1 yrs

Jean-Marie Lambert

TITLE
Senior Executive Vice President of Human Resources
AGE
61

Laurent Auguste

TITLE
Senior Executive Vice President of Development
AGE
51
Board of Directors Tenure

Average tenure and age of the Veolia Environnement board of directors in years:

6.8
Average Tenure
64
Average Age
  • The tenure for the Veolia Environnement board of directors is about average.
Board of Directors

Antoine Frérot

TITLE
Chairman & CEO
COMPENSATION
€3M
AGE
60
TENURE
8.2 yrs

Louis Schweitzer

TITLE
Vice Chairman
COMPENSATION
€172K
AGE
75
TENURE
5.8 yrs

Nathalie Rachou

TITLE
Independent Director
COMPENSATION
€42K
AGE
61
TENURE
6.8 yrs

Maryse Aulagnon

TITLE
Senior Independent Director
COMPENSATION
€45K
AGE
69
TENURE
1.3 yrs

Jacques Aschenbroich

TITLE
Independent Director
COMPENSATION
€62K
AGE
64
TENURE
6.8 yrs

Baudouin Prot

TITLE
Director
COMPENSATION
€38K
AGE
67
TENURE
15.8 yrs

Paolo Scaroni

TITLE
Independent Director
COMPENSATION
€47K
AGE
71
TENURE
12.2 yrs

Olivier Mareuse

TITLE
Representative Director
COMPENSATION
€34K
AGE
55
TENURE
6.9 yrs

Marion Guillou

TITLE
Independent Director
COMPENSATION
€52K
AGE
64
TENURE
6.2 yrs

Pavel Páša

TITLE
Representative Director
COMPENSATION
€47K
AGE
53
TENURE
4.3 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 Veolia Environnement'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. Veolia Environnement 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.

VIE News

Simply Wall St News

Should Veolia Environnement S.A. (EPA:VIE) Be Part Of Your Portfolio?

Historically, Veolia Environnement S.A. … Does Veolia Environnement tick all the boxes of a great dividend stock? … Check out our latest analysis for Veolia Environnement

Simply Wall St -

Do Veolia Environnement S.A.’s (EPA:VIE) Returns On Capital Employed Make The Cut?

Specifically, we'll consider its Return On Capital Employed (ROCE), since that will give us an insight into how efficiently the business can generate profits from the capital it requires. … What is Return On Capital Employed (ROCE)? … How Do You Calculate Return On Capital Employed?

Simply Wall St -

Don't Sell Veolia Environnement S.A. (EPA:VIE) Before You Read This

This article is written for those who want to get better at using price to earnings ratios (P/E ratios). … To keep it practical, we'll show how Veolia Environnement S.A.'s (EPA:VIE) P/E ratio could help you assess the value on offer. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

Do Institutions Own Veolia Environnement S.A. (EPA:VIE) Shares?

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. … Check out our latest analysis for Veolia Environnement

Simply Wall St -

What Should We Expect From Veolia Environnement S.A.'s (EPA:VIE) Earnings In The Next 12 Months?

(EPA:VIE) announced its earnings update. … with earnings expected to grow by 20% in the upcoming year … the higher past 5-year average growth rate of 39%

Simply Wall St -

With A 8.8% Return On Equity, Is Veolia Environnement SA (EPA:VIE) A Quality Stock?

By way of learning-by-doing, we'll look at ROE to gain a better understanding Veolia Environnement SA (EPA:VIE). … That means that for every €1 worth of shareholders' equity, it generated €0.088 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should Veolia Environnement SA (EPA:VIE) Be Part Of Your Dividend Portfolio?

Historically, Veolia Environnement SA (EPA:VIE) has paid a dividend to shareholders. … Let's take a look at Veolia Environnement in more detail. … Check out our latest analysis for Veolia Environnement

Simply Wall St -

Should You Worry About Veolia Environnement SA's (EPA:VIE) CEO Pay Check?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at other big companies. … How Does Antoine Frérot's Compensation Compare With Similar Sized Companies. … Our data indicates that Veolia Environnement SA is worth €9.2b, and total annual CEO compensation is €3m.

Simply Wall St -

How Veolia Environnement SA's (EPA:VIE) Earnings Growth Stacks Up Against The Industry

Improvement in profitability and outperformance against the industry can be important characteristics in a stock for some investors. … Below, I will assess Veolia Environnement SA's (EPA:VIE) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … Could VIE beat the long-term trend and outperform its industry.

Simply Wall St -

What Do You Get For Owning Veolia Environnement SA (EPA:VIE)?

and want to begin learning the link between Veolia Environnement SA (EPA:VIE)’s return fundamentals and stock market performance. … Therefore, looking at how efficiently Veolia Environnement is able to use capital to create earnings will help us understand your potential return. … Investors use many different metrics but the analysis below focuses on return on capital employed (ROCE).

Simply Wall St -

VIE Company Info

Map
Description

Veolia Environnement S.A. designs and provides water, waste, and energy management solutions worldwide. It offers environmental management services, including drinking water treatment and distribution, wastewater treatment, waste management, and energy services comprising heating and cooling, and electricity for local authorities and individuals, and industrial or commercial service companies. The company is also engages in water and network engineering and construction; hazardous waste activities; and sludge treatment and recycling. It provides drinking water to 96 million people; wastewater treatment services to approximately 62 million people; waste collection services to 40 million people; and supplies heating to approximately 8.3 million people. The company was formerly known as Vivendi Environnement and changed its name to Veolia Environnement S.A. in 2003. Veolia Environnement S.A. was founded in 1853 and is headquartered in Aubervilliers, France.

Details
Name: Veolia Environnement S.A.
VIE
Exchange: ENXTPA
Founded: 1853
€10,558,353,553
553,082,952
Website: http://www.veolia.com
Address: Veolia Environnement S.A.
30, rue Madeleine Vionnet,
Aubervilliers,
Ile-de-France, 93300,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA VIE Ordinary Shares Euronext Paris FR EUR 20. Jul 2000
OTCPK VEOE.F Ordinary Shares Pink Sheets LLC US USD 20. Jul 2000
DB VVD Ordinary Shares Deutsche Boerse AG DE EUR 20. Jul 2000
XTRA VVD Ordinary Shares XETRA Trading Platform DE EUR 20. Jul 2000
LSE 0NY8 Ordinary Shares London Stock Exchange GB EUR 20. Jul 2000
SWX VIE Ordinary Shares SIX Swiss Exchange CH CHF 20. Jul 2000
WBAG VIE Ordinary Shares Wiener Boerse AG AT EUR 20. Jul 2000
BATS-CHIXE VIEP Ordinary Shares BATS 'Chi-X Europe' GB EUR 20. Jul 2000
OTCPK VEOE.Y SPONSORED ADR Pink Sheets LLC US USD 05. Oct 2001
DB VVDH SPONSORED ADR Deutsche Boerse AG DE EUR 05. Oct 2001
BST VVDH SPONSORED ADR Boerse-Stuttgart DE EUR 05. Oct 2001
BST A1HEWB 4.45%-VAR SUB NTS PERP EUR1000 Boerse-Stuttgart DE EUR 10. Jan 2013
Number of employees
Current staff
Staff numbers
160,159
Veolia Environnement employees.
Industry
Multi-Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/02/16 20:47
End of day share price update: 2019/02/15 00:00
Last estimates confirmation: 2019/02/12
Last earnings filing: 2018/11/07
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


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.