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Compagnie de Saint Gobain
(SGO)
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Rating:66Neutral
Price Target:
€86.00
▼(-4.70% Downside)
Action:Reiterated
Date:03/06/26
The score is anchored by solid financial performance (improved margins and steady cash generation) and supportive earnings-call guidance on margins, cash conversion, and capital returns. These strengths are tempered by weak technicals (downtrend with negative momentum despite oversold signals) and moderate financial-risk watch items (higher 2025 debt and only moderate cash-to-debt coverage). Valuation is reasonable and helps offset some near-term operating headwinds.
Positive Factors
Margin improvement & guidance
Saint‑Gobain has restored and sustained mid‑teens EBITDA margins versus 2020 levels and explicitly guides to >15% in 2026. Durable margin strength reflects pricing discipline, plant optimisations and a maintained positive price/cost spread, supporting persistent operating profitability and resilience across cycles.
Negative Factors
Inconsistent revenue growth
Top‑line growth has lacked consistent compounding aside from a 2025 surge, implying reliance on timing of acquisitions and cyclical recoveries. Without sustained organic growth, maintaining margin gains and funding structural initiatives becomes harder, exposing returns to episodic improvements.
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Positive Factors
Negative Factors
Margin improvement & guidance
Saint‑Gobain has restored and sustained mid‑teens EBITDA margins versus 2020 levels and explicitly guides to >15% in 2026. Durable margin strength reflects pricing discipline, plant optimisations and a maintained positive price/cost spread, supporting persistent operating profitability and resilience across cycles.
Read all positive factors
Compagnie de Saint Gobain (SGO) vs. iShares MSCI France ETF (EWQ)
Market Cap
€37.12B
Dividend YieldN/A
Average Volume (3M)1.01M
Price to Earnings (P/E)17.9
Beta (1Y)1.59
Revenue Growth-0.19%
EPS Growth2.50%
CountryFR
Employees161,688
SectorIndustrials
Sector Strength72
IndustryConstruction Materials
Share Statistics
EPS (TTM)4.19
Shares Outstanding494,834,000
10 Day Avg. Volume1,000,607
30 Day Avg. Volume1,010,284
Financial Highlights & Ratios
PEG Ratio6.06
Price to Book (P/B)1.75
Price to Sales (P/S)0.92
P/FCF Ratio12.41
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€95.78Price Target Upside6.14% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering12
EPS Forecast (FY)6.14
Revenue Forecast (FY)€46.72B
Compagnie de Saint Gobain Business Overview & Revenue Model
Company Description
Compagnie de Saint-Gobain S.A. operates as a global leader in the design, manufacturing, and distribution of a wide array of materials and innovative solutions aimed at improving well-being worldwide. Its extensive operations are segmented into fi...
How the Company Makes Money
Saint-Gobain primarily makes money by selling building materials, systems, and related solutions to construction professionals, industrial customers, and through building-material distribution channels. Key revenue streams include (1) product sale...
Compagnie de Saint Gobain Earnings Call Summary
Earnings Call Date:Feb 26, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 30, 2026
Earnings Call Sentiment Positive
The call presented a majority of positive operational and financial outcomes: sales and earnings growth, strong free cash flow (58% conversion), disciplined capital allocation, successful integrations (Construction Chemicals) and solid regional outperformance in Asia and Latin America. These positives were tempered by significant near‑term headwinds — FX, weather‑related volume losses (notably North American roofing and French flooding), elevated non‑operating costs in H2 and some regional softness (Germany, parts of Northern Europe, and modest weakness in China). Management expects H1 2026 to be weaker with normalization and recovery in H2, and reiterated strategic growth initiatives and portfolio rotation that support medium‑term confidence.Positive Updates
Group revenue and profit growth
Sales +2.1% in local currencies (like‑for‑like virtually stable). Operating income +3.8% in local currencies and EBITDA +3.4% in local currencies with EBITDA margin stable at 15.5%.
Negative Updates
Currency headwinds
FX was a headwind of -2.3% on sales for the year (worsening to about -3% in H2) and management expects ~-3% sales impact in Q1 2026 at current rates. FX impact on operating income was larger (close to -4%).
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Q4-2025 Updates
Positive
Negative
Group revenue and profit growth
Sales +2.1% in local currencies (like‑for‑like virtually stable). Operating income +3.8% in local currencies and EBITDA +3.4% in local currencies with EBITDA margin stable at 15.5%.
Read all positive updates
Company Guidance
Saint‑Gobain guided to an EBITDA margin above 15% in 2026 (roughly >11% EBIT equivalent) while warning H1 will be weaker because of extreme weather (Q1 volumes expected to be down low‑to‑mid single digits, roughly −3% to −5%) and FX headwinds of about −3% on Q1 sales (H1 FX ≈ −2% at current spots); management expects to preserve a positive price/cost spread, keep CapEx around 4.5% of sales, sustain free‑cash‑flow conversion above 50% (2025 FCF €3.8bn, conversion 58%), maintain net debt/EBITDA near 1.4x, keep non‑operating costs around ~€250m p.a., a recurring tax rate ~24%, and active portfolio rotation (rotated €1.2bn of sales in 2025 and targeting >20% of sales by 2030) while growing construction chemicals from a €6.5bn platform (76 countries) toward >€9bn by 2030 and continuing shareholder returns (proposed dividend €2.30/share; €1.5bn returned in 2025; planned €2bn buybacks + ~€6bn dividends for 2026–2030).Compagnie de Saint Gobain Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
70
Positive
Cash Flow
66
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 46.48B | 46.57B | 47.94B | 51.20B | 44.16B |
| Gross Profit | 12.65B | 12.88B | 12.65B | 13.07B | 11.67B |
| EBITDA | 7.53B | 7.49B | 7.05B | 6.74B | 5.86B |
| Net Income | 2.88B | 2.84B | 2.67B | 3.00B | 2.52B |
Balance Sheet | |||||
| Total Assets | 60.84B | 61.72B | 57.30B | 55.38B | 51.58B |
| Cash, Cash Equivalents and Short-Term Investments | 7.73B | 8.46B | 8.60B | 6.13B | 6.94B |
| Total Debt | 17.73B | 17.84B | 15.55B | 14.37B | 14.13B |
| Total Liabilities | 35.73B | 36.07B | 33.54B | 32.22B | 30.46B |
| Stockholders Equity | 24.54B | 25.14B | 23.27B | 22.71B | 20.71B |
Cash Flow | |||||
| Free Cash Flow | 3.46B | 3.49B | 4.06B | 3.82B | 3.00B |
| Operating Cash Flow | 5.64B | 5.57B | 6.04B | 5.71B | 4.44B |
| Investing Cash Flow | -3.72B | -5.27B | -3.23B | -4.79B | -2.18B |
| Financing Cash Flow | -2.70B | -402.00M | -209.00M | -1.90B | -3.81B |
Compagnie de Saint Gobain Peers Comparison
UnderperformOutperform
Sector (63)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | €37.12B | 17.87 | ― | ― | -0.19% | 2.50% | |
65 Neutral | €408.36M | 15.92 | ― | 6.56% | -0.38% | -1.29% | |
64 Neutral | €15.06M | -26.80 | 0.46% | 9.97% | -3.49% | -362.66% | |
63 Neutral | $10.79B | 15.43 | 7.44% | 2.01% | 2.89% | -14.66% | |
43 Neutral | €216.27M | -9.53 | 1.37% | 1.30% | -42.48% | -429.57% |
* Industrials Sector Average
FR:SGO
Compagnie de Saint Gobain
74.88
-21.89
-22.62%
FR:CRI
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9.15
-1.63
-15.12%
FR:ALGIR
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17.15
3.31
23.92%
FR:ALPJT
Poujoulat SA
5.40
-3.16
-36.92%
FR:SAMS
SAMSE SA
118.00
-32.21
-21.45%
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.
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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.