Vicat SA (VCT) AI Stock Analysis

• Market Cap: €3.45B
• Dividend Yield: 2.66%
• Average Volume (3M): 29.85K
• Price to Earnings (P/E): 12.8
• Beta (1Y): 0.84
• Revenue Growth: -3.29%
• EPS Growth: 0.92%
• Country: FR
• Employees: 9,840
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Construction Materials
• EPS (TTM): 2.27
• Shares Outstanding: 44,900,000
• 10 Day Avg. Volume: 41,992
• 30 Day Avg. Volume: 29,851
• PEG Ratio: 1.12
• Price to Book (P/B): 0.55
• Price to Sales (P/S): 0.42
• P/FCF Ratio: 4.57
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €92.50
• Price Target Upside: 16.65% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 78 Outperform
• Price Target: €90.00 ▲(13.49% Upside)

Vicat SA's strong financial performance and attractive valuation are the primary drivers of its high score. The company's robust cash flow and operational efficiency provide a solid foundation, while the undervalued P/E ratio and appealing dividend yield enhance its investment appeal. However, technical indicators suggest caution due to overbought conditions, which may lead to short-term volatility.

Positive Factors

Strong cash generation

Robust operating cash conversion and rising free cash flow underpin funding for capex, dividends and deleveraging without relying on external financing. Over a multi‑month horizon this supports strategic reinvestment and resilience through construction demand cycles.

Manageable leverage

A debt-to-equity around 0.6 and a healthy equity ratio provide balance sheet flexibility to pursue projects or weather downturns. This structural capital strength reduces refinancing risk and preserves investment capacity across industry cycles lasting several months to years.

Margin and operational efficiency

High gross and EBITDA margins indicate durable production and pricing efficiency in cement and concrete operations. Sustained operational leverage allows the company to absorb input volatility and maintain profitability across construction cycles, supporting steady cash flows.

Negative Factors

Recent revenue decline

Negative recent revenue growth signals exposure to cyclical or regional weakness in construction demand. If the trend persists, it can compress operating leverage, slow free cash flow expansion and reduce headroom for strategic investments over the next several months.

Moderate net profitability

A mid-single-digit net margin limits retained earnings and the pace of balance sheet strengthening relative to peers. Over a multi-month horizon, limited net profitability constrains capacity to invest in growth initiatives or buffer margin shocks from raw material or energy cost spikes.

Modest return on equity

An ROE near 9% reflects modest capital efficiency given the asset‑heavy industry. Sustained mid-single-digit ROE may challenge long‑term shareholder return expectations and indicates the need for operational improvements or higher value projects to lift long‑run profitability.

Vicat SA Business Overview & Revenue Model

Company Description

Vicat S.A. produces and sells cement, ready-mixed concrete, and aggregates. The company operates in three segments: Cement, Concrete & Aggregates, and Other Products & Services. It offers various cement products, including Portland cement, Portland composite cement, blast furnace cement, slag cement, and Pozzolan cement for the general contractors, such as concrete mixers; manufacturers of precast concrete products; construction and public works contractors; local authorities; residential property developers or master masons; and construction material wholesalers or retail chains. The company also provides ready-mixed concrete comprising standard and special concrete for the construction and public works contractors, including construction groups, house building companies, farmers, or private individuals, as well as industrial, commercial buildings, roads, bridges, tunnels, and highways; aggregates, such as sands and gravel products for the ready-mixed concrete and precast concrete products manufacturers. In addition, it offers construction chemicals for use in exterior wall coatings, mortar and traditional concretes, tiling adhesives, and thermal insulation products, as well as for the products used to repair floors and walls; adhesives, and paper bags for the agro-food, chemical, and construction sectors. Further, the company provides various services comprising logistics, transportation, and distribution. It operates in France, Switzerland, Italy, the United States, Turkey, Egypt, Senegal, Mali, Mauritania, Kazakhstan, India, and Brazil. Vicat S.A. was incorporated in 1853 and is headquartered in L'Isle-d'Abeau, France.

How the Company Makes Money

Vicat generates revenue primarily through the sale of cement, concrete, and aggregates. The cement division is the largest contributor to the company's earnings, with Vicat producing various types of cement for different construction needs. Additionally, the concrete and aggregates segments serve construction companies and contractors, providing ready-mixed concrete and raw materials for building projects. The company benefits from long-term contracts and relationships with key clients in the construction industry, which contribute to stable revenue streams. Vicat also focuses on sustainability, offering eco-friendly products that meet the growing demand for green construction materials. Partnerships with construction firms and participation in large infrastructure projects further enhance its earning potential.

Vicat SA Financial Statement Overview

Summary

Vicat SA demonstrates solid financial health with consistent revenue growth and strong operational efficiency. The company's balance sheet is sound with controlled leverage, and cash flow performance is particularly strong, indicating effective cash management. However, there is room for improvement in profitability ratios.

Income Statement

Vicat SA has shown a consistent revenue growth trend over the years, with a robust gross profit margin of 36.05% in 2024. The EBIT margin at 11.79% and EBITDA margin at 21.51% indicate strong operational efficiency. However, the net profit margin is relatively moderate at 7.02%, suggesting room for improvement in profitability.

Balance Sheet

The company's debt-to-equity ratio of 0.60 indicates a manageable level of debt relative to equity. The equity ratio stands at 46.17%, reflecting a healthy proportion of equity financing. Return on Equity (ROE) is 9.21%, showing reasonable profitability from shareholders' investments, though there's potential for enhanced returns.

Cash Flow

Vicat SA's free cash flow growth rate is strong, with free cash flow increasing significantly from the previous year. The operating cash flow to net income ratio is 2.57, highlighting robust cash generation from operations. The free cash flow to net income ratio of 1.31 further underscores efficient cash management.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	3.83B	3.88B	3.94B	3.64B	3.12B	2.81B
Gross Profit	1.40B	1.40B	1.34B	1.13B	1.12B	1.08B
EBITDA	634.49M	835.31M	785.48M	497.93M	553.50M	583.32M
Net Income	270.83M	272.63M	258.43M	156.09M	204.18M	156.00M
Balance Sheet
Total Assets	6.37B	6.41B	6.36B	6.39B	5.71B	5.24B
Cash, Cash Equivalents and Short-Term Investments	529.06M	535.68M	493.55M	503.60M	527.39M	422.84M
Total Debt	1.91B	1.78B	1.94B	2.11B	1.88B	1.64B
Total Liabilities	3.30B	3.15B	3.35B	3.53B	3.11B	2.82B
Stockholders Equity	2.77B	2.96B	2.73B	2.59B	2.36B	2.19B
Cash Flow
Free Cash Flow	418.48M	356.56M	279.28M	-65.46M	52.34M	208.85M
Operating Cash Flow	706.70M	700.89M	608.26M	356.90M	438.91M	528.22M
Investing Cash Flow	-266.81M	-328.33M	-312.94M	-477.90M	-442.87M	-322.12M
Financing Cash Flow	-366.96M	-295.75M	-301.49M	184.93M	66.06M	-138.06M

Vicat SA Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 79.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:VCT, the sentiment is Positive. The current price of 79.3 is above the 20-day moving average (MA) of 78.02, above the 50-day MA of 74.84, and above the 200-day MA of 63.08, indicating a bullish trend. The MACD of 1.30 indicates Positive momentum. The RSI at 57.66 is Neutral, neither overbought nor oversold. The STOCH value of 56.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:VCT.

Vicat SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VCT	78 Outperform	€3.45B	12.84	9.78%	2.66%	-3.29%	0.92%
FII	73 Outperform	€2.43B	38.81	6.49%	0.74%	9.17%	12.78%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
SAMS	60 Neutral	€416.97M	22.04	―	6.56%	7.61%	-56.24%
NK	56 Neutral	€2.22B	-13.41	-5.29%	6.28%	-7.71%	-451.19%
ALHGR	47 Neutral	€82.86M	-8.93	-14.10%	―	76.56%	13.26%