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BUREAU VERITAS SA (BVI.PA) Stock Fundamental Analysis

EPA:BVI - Euronext Paris - Matif - FR0006174348 - Common Stock - Currency: EUR

27.98  -0.12 (-0.43%)

Fundamental Rating

6

BVI gets a fundamental rating of 6 out of 10. The analysis compared the fundamentals against 32 industry peers in the Professional Services industry. BVI scores excellent on profitability, but there are some minor concerns on its financial health. BVI is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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8

1. Profitability

1.1 Basic Checks

BVI had positive earnings in the past year.
In the past year BVI had a positive cash flow from operations.
In the past 5 years BVI has always been profitable.
Each year in the past 5 years BVI had a positive operating cash flow.
BVI.PA Yearly Net Income VS EBIT VS OCF VS FCFBVI.PA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M 1B

1.2 Ratios

BVI has a Return On Assets of 7.91%. This is amongst the best in the industry. BVI outperforms 83.33% of its industry peers.
BVI's Return On Equity of 28.88% is amongst the best of the industry. BVI outperforms 86.67% of its industry peers.
The Return On Invested Capital of BVI (13.18%) is better than 76.67% of its industry peers.
The Average Return On Invested Capital over the past 3 years for BVI is in line with the industry average of 10.46%.
The 3 year average ROIC (11.84%) for BVI is below the current ROIC(13.18%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 7.91%
ROE 28.88%
ROIC 13.18%
ROA(3y)7.35%
ROA(5y)6.04%
ROE(3y)26.65%
ROE(5y)23.15%
ROIC(3y)11.84%
ROIC(5y)10.41%
BVI.PA Yearly ROA, ROE, ROICBVI.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

Looking at the Profit Margin, with a value of 9.12%, BVI is in the better half of the industry, outperforming 80.00% of the companies in the same industry.
In the last couple of years the Profit Margin of BVI has grown nicely.
BVI has a Operating Margin of 14.53%. This is in the better half of the industry: BVI outperforms 80.00% of its industry peers.
In the last couple of years the Operating Margin of BVI has remained more or less at the same level.
Looking at the Gross Margin, with a value of 103.26%, BVI belongs to the top of the industry, outperforming 96.67% of the companies in the same industry.
In the last couple of years the Gross Margin of BVI has remained more or less at the same level.
Industry RankSector Rank
OM 14.53%
PM (TTM) 9.12%
GM 103.26%
OM growth 3Y1.18%
OM growth 5Y0.5%
PM growth 3Y2.59%
PM growth 5Y4.81%
GM growth 3Y1.43%
GM growth 5Y0.65%
BVI.PA Yearly Profit, Operating, Gross MarginsBVI.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60 80 100

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6

2. Health

2.1 Basic Checks

BVI has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
The number of shares outstanding for BVI has been reduced compared to 1 year ago.
The number of shares outstanding for BVI remains at a similar level compared to 5 years ago.
Compared to 1 year ago, BVI has a worse debt to assets ratio.
BVI.PA Yearly Shares OutstandingBVI.PA Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M
BVI.PA Yearly Total Debt VS Total AssetsBVI.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

BVI has an Altman-Z score of 3.24. This indicates that BVI is financially healthy and has little risk of bankruptcy at the moment.
BVI's Altman-Z score of 3.24 is fine compared to the rest of the industry. BVI outperforms 70.00% of its industry peers.
The Debt to FCF ratio of BVI is 3.36, which is a good value as it means it would take BVI, 3.36 years of fcf income to pay off all of its debts.
BVI has a better Debt to FCF ratio (3.36) than 66.67% of its industry peers.
A Debt/Equity ratio of 1.13 is on the high side and indicates that BVI has dependencies on debt financing.
Looking at the Debt to Equity ratio, with a value of 1.13, BVI is doing worse than 66.67% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF 3.36
Altman-Z 3.24
ROIC/WACC1.99
WACC6.61%
BVI.PA Yearly LT Debt VS Equity VS FCFBVI.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.3 Liquidity

A Current Ratio of 1.29 indicates that BVI should not have too much problems paying its short term obligations.
BVI has a better Current ratio (1.29) than 66.67% of its industry peers.
A Quick Ratio of 1.29 indicates that BVI should not have too much problems paying its short term obligations.
BVI's Quick ratio of 1.29 is fine compared to the rest of the industry. BVI outperforms 73.33% of its industry peers.
Industry RankSector Rank
Current Ratio 1.29
Quick Ratio 1.29
BVI.PA Yearly Current Assets VS Current LiabilitesBVI.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

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5

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 8.66% over the past year.
BVI shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 6.23% yearly.
Looking at the last year, BVI shows a small growth in Revenue. The Revenue has grown by 6.36% in the last year.
Measured over the past years, BVI shows a small growth in Revenue. The Revenue has been growing by 4.12% on average per year.
EPS 1Y (TTM)8.66%
EPS 3Y8.85%
EPS 5Y6.23%
EPS Q2Q%12.12%
Revenue 1Y (TTM)6.36%
Revenue growth 3Y7.81%
Revenue growth 5Y4.12%
Sales Q2Q%8.62%

3.2 Future

BVI is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.63% yearly.
BVI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 6.58% yearly.
EPS Next Y9.27%
EPS Next 2Y8.92%
EPS Next 3Y8.48%
EPS Next 5Y7.63%
Revenue Next Year5.79%
Revenue Next 2Y5.87%
Revenue Next 3Y5.98%
Revenue Next 5Y6.58%

3.3 Evolution

When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
BVI.PA Yearly Revenue VS EstimatesBVI.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2B 4B 6B 8B
BVI.PA Yearly EPS VS EstimatesBVI.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 0.5 1 1.5

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3

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 20.28 indicates a rather expensive valuation of BVI.
The rest of the industry has a similar Price/Earnings ratio as BVI.
When comparing the Price/Earnings ratio of BVI to the average of the S&P500 Index (27.45), we can say BVI is valued slightly cheaper.
A Price/Forward Earnings ratio of 18.56 indicates a rather expensive valuation of BVI.
The rest of the industry has a similar Price/Forward Earnings ratio as BVI.
BVI's Price/Forward Earnings ratio indicates a similar valuation than the S&P500 average which is at 21.90.
Industry RankSector Rank
PE 20.28
Fwd PE 18.56
BVI.PA Price Earnings VS Forward Price EarningsBVI.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

BVI's Enterprise Value to EBITDA is on the same level as the industry average.
The rest of the industry has a similar Price/Free Cash Flow ratio as BVI.
Industry RankSector Rank
P/FCF 14.85
EV/EBITDA 12.09
BVI.PA Per share dataBVI.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
BVI has an outstanding profitability rating, which may justify a higher PE ratio.
PEG (NY)2.19
PEG (5Y)3.25
EPS Next 2Y8.92%
EPS Next 3Y8.48%

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4

5. Dividend

5.1 Amount

BVI has a Yearly Dividend Yield of 3.20%.
Compared to an average industry Dividend Yield of 2.76, BVI pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.38, BVI pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.2%

5.2 History

On average, the dividend of BVI grows each year by 32.58%, which is quite nice.
Dividend Growth(5Y)32.58%
Div Incr Years4
Div Non Decr Years4
BVI.PA Yearly Dividends per shareBVI.PA Yearly Dividends per shareYearly Dividends per share 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

71.46% of the earnings are spent on dividend by BVI. This is not a sustainable payout ratio.
The dividend of BVI is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP71.46%
EPS Next 2Y8.92%
EPS Next 3Y8.48%
BVI.PA Yearly Income VS Free CF VS DividendBVI.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M
BVI.PA Dividend Payout.BVI.PA Dividend Payout, showing the Payout Ratio.BVI.PA Dividend Payout.PayoutRetained Earnings

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BUREAU VERITAS SA

EPA:BVI (7/4/2025, 7:00:00 PM)

27.98

-0.12 (-0.43%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryProfessional Services
Earnings (Last)04-24 2025-04-24
Earnings (Next)07-25 2025-07-25
Inst Owners78.26%
Inst Owner ChangeN/A
Ins Owners0%
Ins Owner ChangeN/A
Market Cap12.70B
Analysts79
Price Target34.63 (23.77%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.2%
Yearly Dividend0.9
Dividend Growth(5Y)32.58%
DP71.46%
Div Incr Years4
Div Non Decr Years4
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-1.37%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-0.78%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.7%
Valuation
Industry RankSector Rank
PE 20.28
Fwd PE 18.56
P/S 2.03
P/FCF 14.85
P/OCF 12.68
P/B 6.44
P/tB N/A
EV/EBITDA 12.09
EPS(TTM)1.38
EY4.93%
EPS(NY)1.51
Fwd EY5.39%
FCF(TTM)1.88
FCFY6.74%
OCF(TTM)2.21
OCFY7.88%
SpS13.75
BVpS4.34
TBVpS-1.78
PEG (NY)2.19
PEG (5Y)3.25
Profitability
Industry RankSector Rank
ROA 7.91%
ROE 28.88%
ROCE 19.33%
ROIC 13.18%
ROICexc 17.79%
ROICexgc 88.37%
OM 14.53%
PM (TTM) 9.12%
GM 103.26%
FCFM 13.7%
ROA(3y)7.35%
ROA(5y)6.04%
ROE(3y)26.65%
ROE(5y)23.15%
ROIC(3y)11.84%
ROIC(5y)10.41%
ROICexc(3y)16.62%
ROICexc(5y)14.87%
ROICexgc(3y)78.54%
ROICexgc(5y)69.9%
ROCE(3y)17.37%
ROCE(5y)15.28%
ROICexcg growth 3Y20.39%
ROICexcg growth 5Y9.91%
ROICexc growth 3Y8.51%
ROICexc growth 5Y5.26%
OM growth 3Y1.18%
OM growth 5Y0.5%
PM growth 3Y2.59%
PM growth 5Y4.81%
GM growth 3Y1.43%
GM growth 5Y0.65%
F-Score7
Asset Turnover0.87
Health
Industry RankSector Rank
Debt/Equity 1.13
Debt/FCF 3.36
Debt/EBITDA 1.87
Cap/Depr 51.43%
Cap/Sales 2.34%
Interest Coverage 41.78
Cash Conversion 84.11%
Profit Quality 150.21%
Current Ratio 1.29
Quick Ratio 1.29
Altman-Z 3.24
F-Score7
WACC6.61%
ROIC/WACC1.99
Cap/Depr(3y)49.76%
Cap/Depr(5y)44.07%
Cap/Sales(3y)2.44%
Cap/Sales(5y)2.38%
Profit Quality(3y)144.23%
Profit Quality(5y)231.8%
High Growth Momentum
Growth
EPS 1Y (TTM)8.66%
EPS 3Y8.85%
EPS 5Y6.23%
EPS Q2Q%12.12%
EPS Next Y9.27%
EPS Next 2Y8.92%
EPS Next 3Y8.48%
EPS Next 5Y7.63%
Revenue 1Y (TTM)6.36%
Revenue growth 3Y7.81%
Revenue growth 5Y4.12%
Sales Q2Q%8.62%
Revenue Next Year5.79%
Revenue Next 2Y5.87%
Revenue Next 3Y5.98%
Revenue Next 5Y6.58%
EBIT growth 1Y12.09%
EBIT growth 3Y9.08%
EBIT growth 5Y4.64%
EBIT Next Year40.38%
EBIT Next 3Y17.17%
EBIT Next 5Y12.81%
FCF growth 1Y29.18%
FCF growth 3Y8.5%
FCF growth 5Y4.31%
OCF growth 1Y22.14%
OCF growth 3Y8.19%
OCF growth 5Y4.06%