UNIVERSAL MUSIC GROUP NV (UMG.AS) Fundamental Analysis & Valuation

AMS:UMG • NL0015000IY2

19.36 EUR
+0.48 (+2.57%)
Last: Mar 5, 2026, 05:36 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This UMG.AS fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

5

Overall UMG gets a fundamental rating of 5 out of 10. We evaluated UMG against 49 industry peers in the Entertainment industry. UMG has an excellent profitability rating, but there are concerns on its financial health. UMG has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

8

1. UMG.AS Profitability Analysis

1.1 Basic Checks

  • UMG had positive earnings in the past year.
  • UMG had a positive operating cash flow in the past year.
  • UMG had positive earnings in each of the past 5 years.
  • Each year in the past 5 years UMG had a positive operating cash flow.
UMG.AS Yearly Net Income VS EBIT VS OCF VS FCFUMG.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

1.2 Ratios

  • UMG's Return On Assets of 11.40% is amongst the best of the industry. UMG outperforms 91.84% of its industry peers.
  • Looking at the Return On Equity, with a value of 42.77%, UMG belongs to the top of the industry, outperforming 97.96% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 11.64%, UMG belongs to the top of the industry, outperforming 85.71% of the companies in the same industry.
  • UMG had an Average Return On Invested Capital over the past 3 years of 17.13%. This is significantly above the industry average of 9.38%.
  • The last Return On Invested Capital (11.64%) for UMG is well below the 3 year average (17.13%), which needs to be investigated, but indicates that UMG had better years and this may not be a problem.
Industry RankSector Rank
ROA 11.4%
ROE 42.77%
ROIC 11.64%
ROA(3y)9.46%
ROA(5y)9.51%
ROE(3y)40.62%
ROE(5y)49.82%
ROIC(3y)17.13%
ROIC(5y)16.12%
UMG.AS Yearly ROA, ROE, ROICUMG.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 20 40 60 80

1.3 Margins

  • With an excellent Profit Margin value of 17.63%, UMG belongs to the best of the industry, outperforming 91.84% of the companies in the same industry.
  • In the last couple of years the Profit Margin of UMG has grown nicely.
  • With an excellent Operating Margin value of 15.00%, UMG belongs to the best of the industry, outperforming 87.76% of the companies in the same industry.
  • UMG's Operating Margin has been stable in the last couple of years.
  • UMG's Gross Margin of 42.99% is on the low side compared to the rest of the industry. UMG is outperformed by 61.22% of its industry peers.
  • UMG's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 15%
PM (TTM) 17.63%
GM 42.99%
OM growth 3Y-2.92%
OM growth 5Y0.16%
PM growth 3Y19.16%
PM growth 5Y5.36%
GM growth 3Y-2.09%
GM growth 5Y-1.63%
UMG.AS Yearly Profit, Operating, Gross MarginsUMG.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. UMG.AS Health Analysis

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), UMG is creating value.
  • Compared to 1 year ago, UMG has more shares outstanding
  • Compared to 5 years ago, UMG has more shares outstanding
  • UMG has a better debt/assets ratio than last year.
UMG.AS Yearly Shares OutstandingUMG.AS Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B
UMG.AS Yearly Total Debt VS Total AssetsUMG.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

  • UMG has an Altman-Z score of 0.16. This is a bad value and indicates that UMG is not financially healthy and even has some risk of bankruptcy.
  • UMG has a worse Altman-Z score (0.16) than 73.47% of its industry peers.
  • The Debt to FCF ratio of UMG is 2.22, which is a good value as it means it would take UMG, 2.22 years of fcf income to pay off all of its debts.
  • With a decent Debt to FCF ratio value of 2.22, UMG is doing good in the industry, outperforming 75.51% of the companies in the same industry.
  • A Debt/Equity ratio of 0.54 indicates that UMG is somewhat dependend on debt financing.
  • UMG has a Debt to Equity ratio (0.54) which is comparable to the rest of the industry.
  • Even though the debt/equity ratio score it not favorable for UMG, it has very limited outstanding debt, so we won't put too much weight on the DE evaluation.
Industry RankSector Rank
Debt/Equity 0.54
Debt/FCF 2.22
Altman-Z 0.16
ROIC/WACC1.68
WACC6.91%
UMG.AS Yearly LT Debt VS Equity VS FCFUMG.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B 4B

2.3 Liquidity

  • A Current Ratio of 0.63 indicates that UMG may have some problems paying its short term obligations.
  • The Current ratio of UMG (0.63) is worse than 67.35% of its industry peers.
  • UMG has a Quick Ratio of 0.63. This is a bad value and indicates that UMG is not financially healthy enough and could expect problems in meeting its short term obligations.
  • UMG has a Quick ratio of 0.60. This is in the lower half of the industry: UMG underperforms 67.35% of its industry peers.
Industry RankSector Rank
Current Ratio 0.63
Quick Ratio 0.6
UMG.AS Yearly Current Assets VS Current LiabilitesUMG.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. UMG.AS Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 66.18% over the past year.
  • The Earnings Per Share has been growing by 15.91% on average over the past years. This is quite good.
  • UMG shows a small growth in Revenue. In the last year, the Revenue has grown by 6.54%.
  • The Revenue has been growing by 10.57% on average over the past years. This is quite good.
EPS 1Y (TTM)66.18%
EPS 3Y32.12%
EPS 5Y15.91%
EPS Q2Q%N/A
Revenue 1Y (TTM)6.54%
Revenue growth 3Y11.64%
Revenue growth 5Y10.57%
Sales Q2Q%N/A

3.2 Future

  • UMG is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 10.57% yearly.
  • The Revenue is expected to grow by 5.56% on average over the next years.
EPS Next Y11.55%
EPS Next 2Y9.92%
EPS Next 3Y9.96%
EPS Next 5Y10.57%
Revenue Next Year5.35%
Revenue Next 2Y6.26%
Revenue Next 3Y6.49%
Revenue Next 5Y5.56%

3.3 Evolution

  • The estimated forward EPS growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
UMG.AS Yearly Revenue VS EstimatesUMG.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 5B 10B 15B
UMG.AS Yearly EPS VS EstimatesUMG.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.5 1 1.5

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5

4. UMG.AS Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 17.13, UMG is valued on the expensive side.
  • 87.76% of the companies in the same industry are more expensive than UMG, based on the Price/Earnings ratio.
  • Compared to an average S&P500 Price/Earnings ratio of 27.03, UMG is valued a bit cheaper.
  • The Price/Forward Earnings ratio is 17.49, which indicates a rather expensive current valuation of UMG.
  • UMG's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. UMG is cheaper than 73.47% of the companies in the same industry.
  • UMG is valuated rather cheaply when we compare the Price/Forward Earnings ratio to 25.11, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 17.13
Fwd PE 17.49
UMG.AS Price Earnings VS Forward Price EarningsUMG.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80 100

4.2 Price Multiples

  • UMG's Enterprise Value to EBITDA ratio is in line with the industry average.
  • Based on the Price/Free Cash Flow ratio, UMG is valued a bit cheaper than 69.39% of the companies in the same industry.
Industry RankSector Rank
P/FCF 21.09
EV/EBITDA 17.3
UMG.AS Per share dataUMG.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 2 4 6

4.3 Compensation for Growth

  • UMG's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • The excellent profitability rating of UMG may justify a higher PE ratio.
PEG (NY)1.48
PEG (5Y)1.08
EPS Next 2Y9.92%
EPS Next 3Y9.96%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

5

5. UMG.AS Dividend Analysis

5.1 Amount

  • UMG has a Yearly Dividend Yield of 2.76%.
  • Compared to an average industry Dividend Yield of 1.06, UMG pays a better dividend. On top of this UMG pays more dividend than 87.76% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.82, UMG pays a better dividend.
Industry RankSector Rank
Dividend Yield 2.76%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years3
UMG.AS Yearly Dividends per shareUMG.AS Yearly Dividends per shareYearly Dividends per share 2021 2022 2023 2024 2025 0.1 0.2 0.3 0.4 0.5

5.3 Sustainability

  • UMG pays out 44.87% of its income as dividend. This is a bit on the high side, but may be sustainable.
DP44.87%
EPS Next 2Y9.92%
EPS Next 3Y9.96%
UMG.AS Yearly Income VS Free CF VS DividendUMG.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
UMG.AS Dividend Payout.UMG.AS Dividend Payout, showing the Payout Ratio.UMG.AS Dividend Payout.PayoutRetained Earnings

More info and screens

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UMG.AS Fundamentals: All Metrics, Ratios and Statistics

UNIVERSAL MUSIC GROUP NV

AMS:UMG (3/5/2026, 5:36:15 PM)

19.36

+0.48 (+2.57%)

Chartmill FA Rating
GICS IndustryGroupMedia & Entertainment
GICS IndustryEntertainment
Earnings (Last)10-30
Earnings (Next)03-05
Inst Owners35.41%
Inst Owner ChangeN/A
Ins Owners18.52%
Ins Owner ChangeN/A
Market Cap35.51B
Revenue(TTM)11.83B
Net Income(TTM)2.09B
Analysts74.07
Price Target28.28 (46.07%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.76%
Yearly Dividend0.51
Dividend Growth(5Y)N/A
DP44.87%
Div Incr Years0
Div Non Decr Years3
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)-1.87%
PT rev (3m)-2.77%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0.79%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.22%
Revenue NY rev (3m)-0.14%
Valuation
Industry RankSector Rank
PE 17.13
Fwd PE 17.49
P/S 3
P/FCF 21.09
P/OCF 20.06
P/B 7.28
P/tB N/A
EV/EBITDA 17.3
EPS(TTM)1.13
EY5.84%
EPS(NY)1.11
Fwd EY5.72%
FCF(TTM)0.92
FCFY4.74%
OCF(TTM)0.97
OCFY4.98%
SpS6.45
BVpS2.66
TBVpS-1.16
PEG (NY)1.48
PEG (5Y)1.08
Graham Number8.22
Profitability
Industry RankSector Rank
ROA 11.4%
ROE 42.77%
ROCE 15.95%
ROIC 11.64%
ROICexc 12.22%
ROICexgc 35.79%
OM 15%
PM (TTM) 17.63%
GM 42.99%
FCFM 14.23%
ROA(3y)9.46%
ROA(5y)9.51%
ROE(3y)40.62%
ROE(5y)49.82%
ROIC(3y)17.13%
ROIC(5y)16.12%
ROICexc(3y)18.53%
ROICexc(5y)17.84%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)23.45%
ROCE(5y)22.06%
ROICexgc growth 3Y-73.19%
ROICexgc growth 5Y-8.8%
ROICexc growth 3Y-5.14%
ROICexc growth 5Y-4.57%
OM growth 3Y-2.92%
OM growth 5Y0.16%
PM growth 3Y19.16%
PM growth 5Y5.36%
GM growth 3Y-2.09%
GM growth 5Y-1.63%
F-Score5
Asset Turnover0.65
Health
Industry RankSector Rank
Debt/Equity 0.54
Debt/FCF 2.22
Debt/EBITDA 1.21
Cap/Depr 21.03%
Cap/Sales 0.73%
Interest Coverage 80.68
Cash Conversion 81.04%
Profit Quality 80.73%
Current Ratio 0.63
Quick Ratio 0.6
Altman-Z 0.16
F-Score5
WACC6.91%
ROIC/WACC1.68
Cap/Depr(3y)14.44%
Cap/Depr(5y)12.06%
Cap/Sales(3y)0.5%
Cap/Sales(5y)0.41%
Profit Quality(3y)147.67%
Profit Quality(5y)127.18%
High Growth Momentum
Growth
EPS 1Y (TTM)66.18%
EPS 3Y32.12%
EPS 5Y15.91%
EPS Q2Q%N/A
EPS Next Y11.55%
EPS Next 2Y9.92%
EPS Next 3Y9.96%
EPS Next 5Y10.57%
Revenue 1Y (TTM)6.54%
Revenue growth 3Y11.64%
Revenue growth 5Y10.57%
Sales Q2Q%N/A
Revenue Next Year5.35%
Revenue Next 2Y6.26%
Revenue Next 3Y6.49%
Revenue Next 5Y5.56%
EBIT growth 1Y25.18%
EBIT growth 3Y8.39%
EBIT growth 5Y10.76%
EBIT Next Year39.77%
EBIT Next 3Y19.73%
EBIT Next 5Y13.15%
FCF growth 1Y-1.41%
FCF growth 3Y13.87%
FCF growth 5Y22.23%
OCF growth 1Y0.97%
OCF growth 3Y15.47%
OCF growth 5Y20.7%

UNIVERSAL MUSIC GROUP NV / UMG.AS FAQ

Can you provide the ChartMill fundamental rating for UNIVERSAL MUSIC GROUP NV?

ChartMill assigns a fundamental rating of 5 / 10 to UMG.AS.


What is the valuation status of UNIVERSAL MUSIC GROUP NV (UMG.AS) stock?

ChartMill assigns a valuation rating of 5 / 10 to UNIVERSAL MUSIC GROUP NV (UMG.AS). This can be considered as Fairly Valued.


How profitable is UNIVERSAL MUSIC GROUP NV (UMG.AS) stock?

UNIVERSAL MUSIC GROUP NV (UMG.AS) has a profitability rating of 8 / 10.


Can you provide the PE and PB ratios for UMG stock?

The Price/Earnings (PE) ratio for UNIVERSAL MUSIC GROUP NV (UMG.AS) is 17.13 and the Price/Book (PB) ratio is 7.28.


Is the dividend of UNIVERSAL MUSIC GROUP NV sustainable?

The dividend rating of UNIVERSAL MUSIC GROUP NV (UMG.AS) is 5 / 10 and the dividend payout ratio is 44.87%.