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HAVAS NV (HAVAS.AS) Stock Fundamental Analysis

Europe - AMS:HAVAS - NL0015002AH0 - Common Stock

1.559 EUR
+0 (+0.13%)
Last: 9/30/2025, 10:24:07 AM
Fundamental Rating

4

Taking everything into account, HAVAS scores 4 out of 10 in our fundamental rating. HAVAS was compared to 62 industry peers in the Media industry. HAVAS has a medium profitability rating, but doesn't score so well on its financial health evaluation. HAVAS has a bad growth rate and is valued cheaply.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year HAVAS was profitable.
In the past year HAVAS had a positive cash flow from operations.
HAVAS.AS Yearly Net Income VS EBIT VS OCF VS FCFHAVAS.AS Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2022 2023 2024 100M 200M 300M

1.2 Ratios

HAVAS has a Return On Assets (2.65%) which is comparable to the rest of the industry.
HAVAS has a Return On Equity of 10.20%. This is in the better half of the industry: HAVAS outperforms 64.52% of its industry peers.
The Return On Invested Capital of HAVAS (9.60%) is better than 82.26% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for HAVAS is in line with the industry average of 8.01%.
The 3 year average ROIC (8.24%) for HAVAS is below the current ROIC(9.60%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.65%
ROE 10.2%
ROIC 9.6%
ROA(3y)2.51%
ROA(5y)N/A
ROE(3y)9.01%
ROE(5y)N/A
ROIC(3y)8.24%
ROIC(5y)N/A
HAVAS.AS Yearly ROA, ROE, ROICHAVAS.AS Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2021 2022 2023 2024 2 4 6 8

1.3 Margins

With a decent Profit Margin value of 6.06%, HAVAS is doing good in the industry, outperforming 69.35% of the companies in the same industry.
HAVAS has a better Operating Margin (11.77%) than 75.81% of its industry peers.
Industry RankSector Rank
OM 11.77%
PM (TTM) 6.06%
GM N/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
HAVAS.AS Yearly Profit, Operating, Gross MarginsHAVAS.AS Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2022 2023 2024 2 4 6 8 10

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so HAVAS is still creating some value.
The number of shares outstanding for HAVAS remains at a similar level compared to 1 year ago.
HAVAS has a better debt/assets ratio than last year.
HAVAS.AS Yearly Shares OutstandingHAVAS.AS Yearly Shares OutstandingYearly Shares Outstanding 2021 2022 2023 2024 200M 400M 600M 800M
HAVAS.AS Yearly Total Debt VS Total AssetsHAVAS.AS Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2021 2022 2023 2024 2B 4B 6B

2.2 Solvency

HAVAS has an Altman-Z score of 0.35. This is a bad value and indicates that HAVAS is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 0.35, HAVAS is not doing good in the industry: 79.03% of the companies in the same industry are doing better.
HAVAS has a debt to FCF ratio of 3.13. This is a good value and a sign of high solvency as HAVAS would need 3.13 years to pay back of all of its debts.
Looking at the Debt to FCF ratio, with a value of 3.13, HAVAS is in the better half of the industry, outperforming 70.97% of the companies in the same industry.
HAVAS has a Debt/Equity ratio of 0.14. This is a healthy value indicating a solid balance between debt and equity.
HAVAS has a better Debt to Equity ratio (0.14) than 74.19% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF 3.13
Altman-Z 0.35
ROIC/WACC1.19
WACC8.06%
HAVAS.AS Yearly LT Debt VS Equity VS FCFHAVAS.AS Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2021 2022 2023 2024 500M 1B 1.5B

2.3 Liquidity

HAVAS has a Current Ratio of 0.83. This is a bad value and indicates that HAVAS is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of HAVAS (0.83) is worse than 74.19% of its industry peers.
A Quick Ratio of 0.80 indicates that HAVAS may have some problems paying its short term obligations.
HAVAS has a Quick ratio of 0.80. This is in the lower half of the industry: HAVAS underperforms 69.35% of its industry peers.
Industry RankSector Rank
Current Ratio 0.83
Quick Ratio 0.8
HAVAS.AS Yearly Current Assets VS Current LiabilitesHAVAS.AS Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2021 2022 2023 2024 1B 2B 3B 4B

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1

3. Growth

3.1 Past

HAVAS shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -55.28%.
HAVAS shows a decrease in Revenue. In the last year, the revenue decreased by -0.31%.
EPS 1Y (TTM)-55.28%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-56.41%
Revenue 1Y (TTM)-0.31%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%3.07%

3.2 Future

HAVAS is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 7.01% yearly.
Based on estimates for the next years, HAVAS will show a small growth in Revenue. The Revenue will grow by 2.27% on average per year.
EPS Next Y6.32%
EPS Next 2Y6.88%
EPS Next 3Y7.01%
EPS Next 5YN/A
Revenue Next Year1.48%
Revenue Next 2Y1.95%
Revenue Next 3Y2.27%
Revenue Next 5YN/A

3.3 Evolution

HAVAS.AS Yearly Revenue VS EstimatesHAVAS.AS Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2022 2023 2024 2025 2026 2027 1B 2B 3B
HAVAS.AS Yearly EPS VS EstimatesHAVAS.AS Yearly EPS VS EstimatesYearly EPS VS Estimates 2024 2025 2026 2027 0.05 0.1 0.15 0.2

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7

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 8.66, the valuation of HAVAS can be described as very reasonable.
Based on the Price/Earnings ratio, HAVAS is valued cheaper than 87.10% of the companies in the same industry.
The average S&P500 Price/Earnings ratio is at 27.67. HAVAS is valued rather cheaply when compared to this.
With a Price/Forward Earnings ratio of 7.05, the valuation of HAVAS can be described as very cheap.
HAVAS's Price/Forward Earnings ratio is rather cheap when compared to the industry. HAVAS is cheaper than 82.26% of the companies in the same industry.
HAVAS is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.13, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 8.66
Fwd PE 7.05
HAVAS.AS Price Earnings VS Forward Price EarningsHAVAS.AS Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of HAVAS indicates a somewhat cheap valuation: HAVAS is cheaper than 74.19% of the companies listed in the same industry.
Based on the Price/Free Cash Flow ratio, HAVAS is valued a bit cheaper than the industry average as 74.19% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 6.66
EV/EBITDA 4.1
HAVAS.AS Per share dataHAVAS.AS EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 1 2

4.3 Compensation for Growth

The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.37
PEG (5Y)N/A
EPS Next 2Y6.88%
EPS Next 3Y7.01%

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5

5. Dividend

5.1 Amount

HAVAS has a Yearly Dividend Yield of 5.16%, which is a nice return.
HAVAS's Dividend Yield is a higher than the industry average which is at 6.29.
Compared to an average S&P500 Dividend Yield of 2.41, HAVAS pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.16%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
HAVAS.AS Yearly Dividends per shareHAVAS.AS Yearly Dividends per shareYearly Dividends per share 2025 0.02 0.04 0.06

5.3 Sustainability

DPN/A
EPS Next 2Y6.88%
EPS Next 3Y7.01%
HAVAS.AS Yearly Income VS Free CF VS DividendHAVAS.AS Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2022 2023 2024 100M 200M 300M

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HAVAS NV

AMS:HAVAS (9/30/2025, 10:24:07 AM)

1.559

+0 (+0.13%)

Chartmill FA Rating
GICS IndustryGroupMedia & Entertainment
GICS IndustryMedia
Earnings (Last)07-29 2025-07-29
Earnings (Next)10-14 2025-10-14
Inst Owners30.08%
Inst Owner ChangeN/A
Ins Owners2.67%
Ins Owner ChangeN/A
Market Cap1.55B
Analysts81.25
Price Target1.89 (21.23%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.16%
Yearly Dividend0.25
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
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)1.53%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-2.91%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.3%
Valuation
Industry RankSector Rank
PE 8.66
Fwd PE 7.05
P/S 0.53
P/FCF 6.66
P/OCF 5.77
P/B 0.9
P/tB N/A
EV/EBITDA 4.1
EPS(TTM)0.18
EY11.55%
EPS(NY)0.22
Fwd EY14.19%
FCF(TTM)0.23
FCFY15%
OCF(TTM)0.27
OCFY17.33%
SpS2.93
BVpS1.74
TBVpS-0.82
PEG (NY)1.37
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 2.65%
ROE 10.2%
ROCE 14.38%
ROIC 9.6%
ROICexc 11.32%
ROICexgc N/A
OM 11.77%
PM (TTM) 6.06%
GM N/A
FCFM 7.99%
ROA(3y)2.51%
ROA(5y)N/A
ROE(3y)9.01%
ROE(5y)N/A
ROIC(3y)8.24%
ROIC(5y)N/A
ROICexc(3y)9.34%
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)12.32%
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score8
Asset Turnover0.44
Health
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF 3.13
Debt/EBITDA 0.51
Cap/Depr 32.43%
Cap/Sales 1.24%
Interest Coverage 7.6
Cash Conversion 59.16%
Profit Quality 131.82%
Current Ratio 0.83
Quick Ratio 0.8
Altman-Z 0.35
F-Score8
WACC8.06%
ROIC/WACC1.19
Cap/Depr(3y)29.4%
Cap/Depr(5y)N/A
Cap/Sales(3y)1.25%
Cap/Sales(5y)N/A
Profit Quality(3y)166.07%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-55.28%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-56.41%
EPS Next Y6.32%
EPS Next 2Y6.88%
EPS Next 3Y7.01%
EPS Next 5YN/A
Revenue 1Y (TTM)-0.31%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%3.07%
Revenue Next Year1.48%
Revenue Next 2Y1.95%
Revenue Next 3Y2.27%
Revenue Next 5YN/A
EBIT growth 1Y4.13%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year40.5%
EBIT Next 3Y15.6%
EBIT Next 5YN/A
FCF growth 1Y-32.03%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-29.03%
OCF growth 3YN/A
OCF growth 5YN/A