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HAVAS NV (HAVAS.AS) Stock Fundamental Analysis

AMS:HAVAS - NL0015002AH0 - Common Stock

1.52 EUR
-0.02 (-1.01%)
Last: 9/5/2025, 7:00:00 PM
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 is cheap, but on the other hand it scores bad on growth.


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's Return On Assets of 2.65% is in line compared to the rest of the industry. HAVAS outperforms 59.68% of its industry peers.
HAVAS has a Return On Equity of 10.20%. This is in the better half of the industry: HAVAS outperforms 67.74% of its industry peers.
The Return On Invested Capital of HAVAS (9.60%) is better than 85.48% of its industry peers.
HAVAS had an Average Return On Invested Capital over the past 3 years of 8.24%. This is in line with the industry average of 7.82%.
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

The Profit Margin of HAVAS (6.06%) is better than 72.58% of its industry peers.
HAVAS has a better Operating Margin (11.77%) than 79.03% 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

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), HAVAS is creating some value.
The number of shares outstanding for HAVAS remains at a similar level compared to 1 year ago.
Compared to 1 year ago, HAVAS has an improved debt to assets ratio.
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

Based on the Altman-Z score of 0.34, we must say that HAVAS is in the distress zone and has some risk of bankruptcy.
HAVAS's Altman-Z score of 0.34 is on the low side compared to the rest of the industry. HAVAS is outperformed by 75.81% of its industry peers.
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.
HAVAS has a better Debt to FCF ratio (3.13) than 70.97% of its industry peers.
A Debt/Equity ratio of 0.14 indicates that HAVAS is not too dependend on debt financing.
HAVAS has a Debt to Equity ratio of 0.14. This is in the better half of the industry: HAVAS outperforms 75.81% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.14
Debt/FCF 3.13
Altman-Z 0.34
ROIC/WACC1.21
WACC7.92%
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.
HAVAS's Current ratio of 0.83 is on the low side compared to the rest of the industry. HAVAS is outperformed by 70.97% 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 67.74% 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%.
The Revenue has decreased by -0.31% in the past year.
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.
The Revenue is expected to grow by 2.21% on average over the next years.
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 3Y2.21%
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

The Price/Earnings ratio is 8.44, which indicates a very decent valuation of HAVAS.
HAVAS's Price/Earnings ratio is rather cheap when compared to the industry. HAVAS is cheaper than 87.10% of the companies in the same industry.
HAVAS is valuated cheaply when we compare the Price/Earnings ratio to 27.06, which is the current average of the S&P500 Index.
HAVAS is valuated cheaply with a Price/Forward Earnings ratio of 6.87.
Based on the Price/Forward Earnings ratio, HAVAS is valued cheaply inside the industry as 87.10% of the companies are valued more expensively.
HAVAS is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.69, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 8.44
Fwd PE 6.87
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

HAVAS's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. HAVAS is cheaper than 75.81% of the companies in the same industry.
74.19% of the companies in the same industry are more expensive than HAVAS, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 6.5
EV/EBITDA 4.02
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

HAVAS's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
PEG (NY)1.34
PEG (5Y)N/A
EPS Next 2Y6.88%
EPS Next 3Y7.01%

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5

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 5.21%, HAVAS is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 5.92, HAVAS pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.41, HAVAS pays a better dividend.
Industry RankSector Rank
Dividend Yield 5.21%

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 (9/5/2025, 7:00:00 PM)

1.52

-0.02 (-1.01%)

Chartmill FA Rating
GICS SectorCommunication Services
GICS IndustryGroupMedia & Entertainment
GICS IndustryMedia
Earnings (Last)07-29 2025-07-29
Earnings (Next)03-03 2026-03-03
Inst Owners21.83%
Inst Owner ChangeN/A
Ins Owners2.67%
Ins Owner ChangeN/A
Market Cap1.51B
Analysts81.25
Price Target1.89 (24.34%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 5.21%
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)0.49%
PT rev (3m)1.53%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-2.91%
EPS NY rev (3m)-2.91%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.43%
Revenue NY rev (3m)-1.3%
Valuation
Industry RankSector Rank
PE 8.44
Fwd PE 6.87
P/S 0.52
P/FCF 6.5
P/OCF 5.63
P/B 0.87
P/tB N/A
EV/EBITDA 4.02
EPS(TTM)0.18
EY11.84%
EPS(NY)0.22
Fwd EY14.55%
FCF(TTM)0.23
FCFY15.39%
OCF(TTM)0.27
OCFY17.78%
SpS2.93
BVpS1.74
TBVpS-0.82
PEG (NY)1.34
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 0.34
F-Score8
WACC7.92%
ROIC/WACC1.21
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 3Y2.21%
Revenue Next 5YN/A
EBIT growth 1Y4.13%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year39.69%
EBIT Next 3Y15.74%
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