Viridien (VIRI) AI Stock Analysis

• Market Cap: €901.27M
• Dividend Yield: N/A
• Average Volume (3M): 47.46K
• Price to Earnings (P/E): 11.2
• Beta (1Y): 0.81
• Revenue Growth: 11.28%
• EPS Growth: 589.70%
• Country: FR
• Employees: 3,400
• Sector: General
• Sector Strength: N/A
• Industry: Oil & Gas Equipment & Services
• EPS (TTM): 6.30
• Shares Outstanding: 7,189,314
• 10 Day Avg. Volume: 53,365
• 30 Day Avg. Volume: 47,460
• PEG Ratio: 0.23
• Price to Book (P/B): 0.73
• Price to Sales (P/S): 0.74
• P/FCF Ratio: 2.32
• 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: €149.00
• Price Target Upside: 18.44% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3
• EPS Forecast (FY): 11.64
• Revenue Forecast (FY): €1.15B

• Rating: 62 Neutral
• Price Target: €133.00 ▲(5.72% Upside)
• Action: Reiterated Date: 03/01/26
• Date: Action: Reiterated 03/01/26

The score is supported primarily by improved financial performance, especially stronger profitability and robust free cash flow, with a reasonable P/E valuation. These positives are tempered by weak near-term technicals (price below key moving averages and negative MACD) and uneven top-line trends alongside a still-meaningful debt load.

Positive Factors

Strong cash generation

Robust operating and free cash flow in 2025 provides a durable internal funding source for multiclient surveys, technology investments and debt servicing. Strong cash conversion improves resilience through cyclical oilfield spending cycles and supports strategic reinvestment without relying on external financing.

Improved profitability and operating leverage

A meaningful step-up in operating profit and recovered margins indicate better cost discipline and operational leverage. Sustainable margins increase free cash flow potential and make the business less vulnerable to cyclicality by enabling the company to generate positive profits across industry cycles.

Balance sheet trend improvement

Leverage trending lower and maintained equity ratios enhance financial flexibility over the medium term. An improving debt-to-equity trend reduces refinancing pressure, giving management room to fund data library programs or capex and better absorb E&P spending swings without immediate capital raises.

Negative Factors

Revenue volatility and recent decline

A fall in revenue after prior growth highlights pronounced cyclicality in licensing and services demand. Persistent top-line volatility makes multi-year cashflow and backlog visibility weaker, complicating capacity planning and potentially pressuring margins and investment during downturns.

Substantial absolute debt for cyclical sector

Material absolute debt levels increase leverage-related risk during E&P downturns: higher interest and principal commitments reduce flexibility to invest in data acquisition, tech, or M&A. In a cyclical market, this raises refinancing and liquidity vulnerability if revenues soften.

Cash-growth sensitivity to short-term obligations

Although FCF is robust, slight negative cash-flow growth in 2025 and inconsistent coverage of short-term obligations signal sensitivity to weaker operating conditions. That variance could strain liquidity if cyclical revenue drops coincide with debt maturities or higher capex needs.

Viridien Business Overview & Revenue Model

Company Description

Viridien engages in the provision of data, products, services, and solutions in Earth science, data science, sensing, and monitoring in North America, Latin America, the Central and South Americas, Europe, Africa, the Middle East, and the Asia Pacific. It operates through two segments: Data, Digital & Energy Transition (DDE); and Sensing & Monitoring (SMO). The DDE segments engages in the developing and licensing Earth data seismic surveys; processing and imaging seismic data; sale of seismic data processing software under the Geovation brand; provision of geoscience and petroleum engineering consulting services; and collecting, developing, and licensing geological data. The SMO segment is involved in the design, engineering, and manufacturing of seismic equipment for the land and marine seismic data acquisition, including seismic recording equipment, software, and seismic sources for land vibrators or marine sources, and sensing and monitoring equipment and solutions under the Sercel, Metrolog, GRC, DeRegt, and Geocomp brand names. This segment also provides customer support services, such as training. It provides its solutions for natural resources, environmental, infrastructure, energy transition, and digital applications. The company was formerly known as CGG and changed its name to Viridien in May 2024. Viridien was incorporated in 1931 and is headquartered in Massy, France.

How the Company Makes Money

Viridien makes money primarily by selling and licensing geoscience data and by providing geoscience services to customers. Key revenue streams typically include: (1) Data products (often marketed as multi-client or library data): the company funds or co-funds the acquisition/creation of seismic datasets and then monetizes them by licensing usage rights to multiple customers; revenue depends on customer licensing activity and the size/quality/coverage of the data library. (2) Services and solutions: the company performs contracted work such as seismic data processing, imaging, and interpretation-oriented deliverables, generating revenue from project fees under customer contracts. (3) Technology and digital offerings: where applicable, the company may earn revenue from software, digital platforms, or related subscriptions/usage-based fees tied to subsurface workflows. Significant factors influencing earnings typically include exploration and production spending cycles, customer demand for seismic licensing, and contract wins for geoscience services. Specific partnership arrangements, customer concentration, and the exact split of revenue by segment are null.

Viridien Financial Statement Overview

Summary

Financials show a solid recovery: profitability improved meaningfully with a step-up in operating profit in 2025, and cash generation is strong with robust free cash flow and good earnings quality. Offsetting this, revenue declined in 2025 after prior growth and the debt load remains meaningful for a cyclical industry.

Income Statement

Profitability has improved meaningfully versus earlier years, with the company posting solid operating and net margins in 2024–2025 (annual), a sharp turnaround from the losses seen in 2020–2021 (annual). 2025 (annual) also shows a notable step-up in operating profit versus 2024. The main weakness is growth consistency: revenue declined in 2025 (annual) after strong growth in 2023–2024, suggesting a more cyclical/top-line volatile profile.

Balance Sheet

Leverage is moderate: debt remains close to equity in 2025 (annual), but the direction has improved versus 2023–2024 as debt-to-equity moved down. Equity has been maintained at a solid level relative to total assets, and returns on equity have recovered into positive mid-single digits after being negative in 2020–2021. The key risk is that absolute debt is still substantial for a cyclical industry, leaving less room for earnings volatility.

Cash Flow

Cash generation is a clear strength: operating cash flow is strong and free cash flow is robust in 2025 (annual), with a major improvement versus 2024 and steady positive free cash flow across the period shown. Free cash flow remains high relative to net income, supporting earnings quality. The main weakness is that cash-flow growth was slightly negative in 2025 (annual) and cash generation relative to short-term obligations is not consistently strong, implying some sensitivity if operating conditions soften.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.11B	1.21B	1.08B	881.94M	898.66M
Gross Profit	363.65M	340.20M	258.40M	258.81M	176.82M
EBITDA	487.81M	267.60M	199.30M	434.51M	385.54M
Net Income	74.00M	49.80M	12.90M	43.10M	-154.32M
Balance Sheet
Total Assets	2.75B	2.84B	2.92B	2.71B	2.57B
Cash, Cash Equivalents and Short-Term Investments	173.02M	301.70M	327.00M	288.22M	289.66M
Total Debt	1.06B	1.17B	1.30B	1.15B	1.13B
Total Liabilities	1.58B	1.72B	1.85B	1.72B	1.69B
Stockholders Equity	1.13B	1.08B	925.90M	955.07M	846.55M
Cash Flow
Free Cash Flow	357.82M	171.70M	176.30M	188.97M	159.31M
Operating Cash Flow	400.49M	456.70M	408.30M	240.82M	208.89M
Investing Cash Flow	-197.43M	-286.00M	-232.00M	-210.09M	-147.89M
Financing Cash Flow	-342.41M	-226.40M	-148.30M	-34.92M	-108.12M

Viridien Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 125.80
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:VIRI, the sentiment is Positive. The current price of 125.8 is above the 20-day moving average (MA) of 121.03, above the 50-day MA of 120.17, and above the 200-day MA of 83.66, indicating a bullish trend. The MACD of 1.43 indicates Negative momentum. The RSI at 58.77 is Neutral, neither overbought nor oversold. The STOCH value of 84.17 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:VIRI.

Viridien Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
PAT	68 Neutral	€390.16M	8.79	―	5.92%	15.61%	17.82%
INEA	63 Neutral	€377.26M	75.52	―	8.06%	10.30%	―
IMDA	63 Neutral	€381.37M	13.81	―	3.91%	-2.53%	―
VIRI	62 Neutral	€901.27M	11.20	-0.50%	―	11.28%	589.70%
SELER	59 Neutral	€337.57M	12.67	―	4.94%	-6.93%	58.90%
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%