Bureau Veritas (FR:BVI)
:BVI
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Bureau Veritas
(BVI)
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Rating:73Outperform
Price Target:
€29.00
▲(9.68% Upside)
Action:ReiteratedDate:02/27/26
Overall score reflects solid fundamentals and strong cash generation, supported by an upward technical trend. The main offset is higher and rising leverage (and lower equity), while valuation looks reasonable with a supportive dividend yield.
Positive Factors
Strong free cash flow generation
High and improving free cash flow (~€820M in 2025) and robust operating cash flow provide durable internal funding for capex, dividends, M&A or debt reduction. Sustained FCF enhances financial flexibility and resilience across business cycles, supporting long-term strategic choices.
Negative Factors
Rising leverage and declining equity
Increased debt and a higher debt-to-equity ratio reduce balance-sheet flexibility and raise structural refinancing and covenant risk. Lower equity amplifies leverage metrics, constraining capacity for bolt-on M&A, dividend growth or cushioning during downturns and increasing long-term financial vulnerability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
High and improving free cash flow (~€820M in 2025) and robust operating cash flow provide durable internal funding for capex, dividends, M&A or debt reduction. Sustained FCF enhances financial flexibility and resilience across business cycles, supporting long-term strategic choices.
Read all positive factors
Bureau Veritas (BVI) vs. iShares MSCI France ETF (EWQ)
Market Cap
€11.73B
Dividend Yield3.32%
Average Volume (3M)1.08M
Price to Earnings (P/E)20.6
Beta (1Y)0.86
Revenue Growth7.12%
EPS Growth31.41%
CountryFR
Employees80,283
SectorGeneral
Sector StrengthN/A
IndustryConsulting Services
Share Statistics
EPS (TTM)0.80
Shares Outstanding453,871,520
10 Day Avg. Volume713,778
30 Day Avg. Volume1,078,337
Financial Highlights & Ratios
PEG Ratio4.33
Price to Book (P/B)7.08
Price to Sales (P/S)1.87
P/FCF Ratio14.77
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€33.62Price Target Upside27.16% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)1.57
Revenue Forecast (FY)€6.80B
Bureau Veritas Business Overview & Revenue Model
Company Description
Bureau Veritas SA provides laboratory testing, inspection, and certification services. It operates through six segments: Marine & Offshore; Agri-Food & Commodities; Industry; Buildings & Infrastructure; Certification; and Consumer Products. The co...
How the Company Makes Money
Bureau Veritas primarily makes money by charging fees for testing, inspection, and certification services delivered under customer contracts, repeat service programs, and project-based assignments. Key revenue streams typically include: (1) Testin...
Bureau Veritas Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
58
Neutral
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 6.47B | 6.24B | 5.87B | 5.65B | 4.98B |
| Gross Profit | 992.60M | 4.50B | 1.76B | 1.27B | 1.12B |
| EBITDA | 1.21B | 1.25B | 1.14B | 1.11B | 1.01B |
| Net Income | 588.00M | 569.40M | 503.70M | 466.70M | 420.90M |
Balance Sheet | |||||
| Total Assets | 7.06B | 7.19B | 6.64B | 7.12B | 6.75B |
| Cash, Cash Equivalents and Short-Term Investments | 1.37B | 1.22B | 1.18B | 1.66B | 1.42B |
| Total Debt | 3.43B | 2.87B | 2.54B | 3.05B | 2.89B |
| Total Liabilities | 5.31B | 5.16B | 4.65B | 5.19B | 5.05B |
| Stockholders Equity | 1.71B | 1.97B | 1.94B | 1.86B | 1.64B |
Cash Flow | |||||
| Free Cash Flow | 819.70M | 858.90M | 662.10M | 652.40M | 596.70M |
| Operating Cash Flow | 966.70M | 1.00B | 819.70M | 782.50M | 717.70M |
| Investing Cash Flow | -115.50M | -347.80M | -188.00M | -200.00M | -172.20M |
| Financing Cash Flow | -634.80M | -610.20M | -1.08B | -359.50M | -733.40M |
Bureau Veritas Technical Analysis
Negative
26.44
Price Trends
27.60
Negative
27.37
Negative
27.28
Negative
Market Momentum
-0.48
Positive
38.90
Neutral
26.07
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:BVI, the sentiment is Negative. The current price of 26.44 is below the 20-day moving average (MA) of 27.52, below the 50-day MA of 27.60, and below the 200-day MA of 27.28, indicating a bearish trend. The MACD of -0.48 indicates Positive momentum. The RSI at 38.90 is Neutral, neither overbought nor oversold. The STOCH value of 26.07 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:BVI.
Bureau Veritas Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | €11.73B | 20.60 | 42.80% | 3.32% | 7.12% | 31.41% | |
69 Neutral | €12.48B | 11.12 | 14.39% | 3.87% | 7.71% | -2.82% | |
57 Neutral | €1.81B | 23.95 | 6.98% | 2.08% | -0.23% | -37.70% | |
56 Neutral | €7.18B | 190.12 | 8.70% | 2.14% | 10.87% | -10.35% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | €588.33M | 83.86 | 2.60% | 2.41% | 6.72% | -90.75% | |
52 Neutral | €2.43B | 14.37 | 3.67% | 3.66% | -4.16% | -48.55% |
* General Sector Average
FR:BVI
Bureau Veritas
26.44
-0.55
-2.05%
FR:ATE
ALTEN SA
51.60
-36.56
-41.47%
FR:ASY
Assystem
39.90
7.97
24.98%
FR:FGR
Eiffage
128.85
24.40
23.36%
FR:SPIE
SPIE SA
42.18
3.39
8.74%
FR:FR
Valeo
9.98
1.81
22.12%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.