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VEOLIA ENVIRONNEMENT (VVD.DE) Stock Fundamental Analysis

FRA:VVD - Deutsche Boerse Ag - FR0000124141 - Common Stock - Currency: EUR

30.08  -0.19 (-0.63%)

Fundamental Rating

3

Overall VVD gets a fundamental rating of 3 out of 10. We evaluated VVD against 13 industry peers in the Multi-Utilities industry. While VVD is still in line with the averages on profitability rating, there are concerns on its financial health. VVD is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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4

1. Profitability

1.1 Basic Checks

In the past year VVD was profitable.
In the past year VVD had a positive cash flow from operations.
VVD had positive earnings in each of the past 5 years.
In the past 5 years VVD always reported a positive cash flow from operatings.
VVD.DE Yearly Net Income VS EBIT VS OCF VS FCFVVD.DE 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 1B 2B 3B 4B 5B

1.2 Ratios

The Return On Assets of VVD (1.51%) is worse than 92.31% of its industry peers.
The Return On Equity of VVD (8.52%) is worse than 76.92% of its industry peers.
VVD has a Return On Invested Capital (5.75%) which is comparable to the rest of the industry.
VVD had an Average Return On Invested Capital over the past 3 years of 5.04%. This is in line with the industry average of 6.45%.
The 3 year average ROIC (5.04%) for VVD is below the current ROIC(5.75%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 1.51%
ROE 8.52%
ROIC 5.75%
ROA(3y)1.26%
ROA(5y)0.95%
ROE(3y)7.32%
ROE(5y)5.34%
ROIC(3y)5.04%
ROIC(5y)4.36%
VVD.DE Yearly ROA, ROE, ROICVVD.DE Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

VVD's Profit Margin of 2.46% is on the low side compared to the rest of the industry. VVD is outperformed by 92.31% of its industry peers.
VVD's Profit Margin has been stable in the last couple of years.
VVD's Operating Margin of 7.50% is on the low side compared to the rest of the industry. VVD is outperformed by 76.92% of its industry peers.
In the last couple of years the Operating Margin of VVD has grown nicely.
VVD's Gross Margin of 18.04% is on the low side compared to the rest of the industry. VVD is outperformed by 84.62% of its industry peers.
VVD's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 7.5%
PM (TTM) 2.46%
GM 18.04%
OM growth 3Y18.91%
OM growth 5Y3.17%
PM growth 3Y20.1%
PM growth 5Y1.34%
GM growth 3Y3.77%
GM growth 5Y1.11%
VVD.DE Yearly Profit, Operating, Gross MarginsVVD.DE Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5 10 15

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1

2. Health

2.1 Basic Checks

VVD has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
VVD has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, VVD has more shares outstanding
VVD has a worse debt/assets ratio than last year.
VVD.DE Yearly Shares OutstandingVVD.DE Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
VVD.DE Yearly Total Debt VS Total AssetsVVD.DE Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B

2.2 Solvency

Based on the Altman-Z score of 0.87, we must say that VVD is in the distress zone and has some risk of bankruptcy.
VVD has a Altman-Z score (0.87) which is comparable to the rest of the industry.
The Debt to FCF ratio of VVD is 14.13, which is on the high side as it means it would take VVD, 14.13 years of fcf income to pay off all of its debts.
VVD has a Debt to FCF ratio of 14.13. This is in the better half of the industry: VVD outperforms 61.54% of its industry peers.
VVD has a Debt/Equity ratio of 1.55. This is a high value indicating a heavy dependency on external financing.
VVD has a worse Debt to Equity ratio (1.55) than 69.23% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.55
Debt/FCF 14.13
Altman-Z 0.87
ROIC/WACC1.28
WACC4.51%
VVD.DE Yearly LT Debt VS Equity VS FCFVVD.DE Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

2.3 Liquidity

A Current Ratio of 0.91 indicates that VVD may have some problems paying its short term obligations.
VVD has a Current ratio of 0.91. This is in the lower half of the industry: VVD underperforms 69.23% of its industry peers.
VVD has a Quick Ratio of 0.91. This is a bad value and indicates that VVD is not financially healthy enough and could expect problems in meeting its short term obligations.
The Quick ratio of VVD (0.86) is worse than 76.92% of its industry peers.
Industry RankSector Rank
Current Ratio 0.91
Quick Ratio 0.86
VVD.DE Yearly Current Assets VS Current LiabilitesVVD.DE Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B

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4

3. Growth

3.1 Past

The Earnings Per Share has grown by an nice 15.01% over the past year.
VVD shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 7.31% yearly.
VVD shows a decrease in Revenue. In the last year, the revenue decreased by -1.45%.
Measured over the past years, VVD shows a quite strong growth in Revenue. The Revenue has been growing by 10.45% on average per year.
EPS 1Y (TTM)15.01%
EPS 3Y31.56%
EPS 5Y7.31%
EPS Q2Q%7.14%
Revenue 1Y (TTM)-1.45%
Revenue growth 3Y16.17%
Revenue growth 5Y10.45%
Sales Q2Q%-0.2%

3.2 Future

Based on estimates for the next years, VVD will show a small growth in Earnings Per Share. The EPS will grow by 7.27% on average per year.
Based on estimates for the next years, VVD will show a small growth in Revenue. The Revenue will grow by 3.45% on average per year.
EPS Next Y7.74%
EPS Next 2Y8.34%
EPS Next 3Y8.65%
EPS Next 5Y7.27%
Revenue Next Year2.07%
Revenue Next 2Y3.09%
Revenue Next 3Y3.44%
Revenue Next 5Y3.45%

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 stable.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
VVD.DE Yearly Revenue VS EstimatesVVD.DE Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 10B 20B 30B 40B 50B
VVD.DE Yearly EPS VS EstimatesVVD.DE Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1 2 3

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3

4. Valuation

4.1 Price/Earnings Ratio

VVD is valuated rather expensively with a Price/Earnings ratio of 20.32.
92.31% of the companies in the same industry are cheaper than VVD, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of VVD to the average of the S&P500 Index (26.52), we can say VVD is valued slightly cheaper.
VVD is valuated correctly with a Price/Forward Earnings ratio of 13.52.
76.92% of the companies in the same industry are cheaper than VVD, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 22.25. VVD is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 20.32
Fwd PE 13.52
VVD.DE Price Earnings VS Forward Price EarningsVVD.DE Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

VVD's Enterprise Value to EBITDA is on the same level as the industry average.
Based on the Price/Free Cash Flow ratio, VVD is valued cheaper than 84.62% of the companies in the same industry.
Industry RankSector Rank
P/FCF 10.75
EV/EBITDA 5.74
VVD.DE Per share dataVVD.DE EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

4.3 Compensation for Growth

The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
PEG (NY)2.63
PEG (5Y)2.78
EPS Next 2Y8.34%
EPS Next 3Y8.65%

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6

5. Dividend

5.1 Amount

VVD has a Yearly Dividend Yield of 4.66%, which is a nice return.
Compared to an average industry Dividend Yield of 5.19, VVD pays a bit more dividend than its industry peers.
Compared to an average S&P500 Dividend Yield of 2.38, VVD pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.66%

5.2 History

The dividend of VVD is nicely growing with an annual growth rate of 14.14%!
Dividend Growth(5Y)14.14%
Div Incr Years4
Div Non Decr Years4
VVD.DE Yearly Dividends per shareVVD.DE 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

110.63% of the earnings are spent on dividend by VVD. This is not a sustainable payout ratio.
VVD's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP110.63%
EPS Next 2Y8.34%
EPS Next 3Y8.65%
VVD.DE Yearly Income VS Free CF VS DividendVVD.DE Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
VVD.DE Dividend Payout.VVD.DE Dividend Payout, showing the Payout Ratio.VVD.DE Dividend Payout.PayoutRetained Earnings

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VEOLIA ENVIRONNEMENT

FRA:VVD (6/6/2025, 7:00:00 PM)

30.08

-0.19 (-0.63%)

Chartmill FA Rating
GICS SectorUtilities
GICS IndustryGroupUtilities
GICS IndustryMulti-Utilities
Earnings (Last)05-07 2025-05-07
Earnings (Next)07-31 2025-07-31
Inst Owners59.93%
Inst Owner ChangeN/A
Ins Owners0.03%
Ins Owner ChangeN/A
Market Cap22.28B
Analysts76.8
Price Target35.85 (19.18%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.66%
Yearly Dividend1.72
Dividend Growth(5Y)14.14%
DP110.63%
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)-1.23%
PT rev (3m)-1.69%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-1.58%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.2%
Revenue NY rev (3m)-1.61%
Valuation
Industry RankSector Rank
PE 20.32
Fwd PE 13.52
P/S 0.5
P/FCF 10.75
P/OCF 4.42
P/B 1.73
P/tB N/A
EV/EBITDA 5.74
EPS(TTM)1.48
EY4.92%
EPS(NY)2.23
Fwd EY7.4%
FCF(TTM)2.8
FCFY9.3%
OCF(TTM)6.8
OCFY22.61%
SpS60.34
BVpS17.44
TBVpS-9.39
PEG (NY)2.63
PEG (5Y)2.78
Profitability
Industry RankSector Rank
ROA 1.51%
ROE 8.52%
ROCE 7.92%
ROIC 5.75%
ROICexc 8.05%
ROICexgc 23.25%
OM 7.5%
PM (TTM) 2.46%
GM 18.04%
FCFM 4.64%
ROA(3y)1.26%
ROA(5y)0.95%
ROE(3y)7.32%
ROE(5y)5.34%
ROIC(3y)5.04%
ROIC(5y)4.36%
ROICexc(3y)6.81%
ROICexc(5y)6.13%
ROICexgc(3y)18.27%
ROICexgc(5y)16.36%
ROCE(3y)6.95%
ROCE(5y)6.02%
ROICexcg growth 3Y15.28%
ROICexcg growth 5Y0.49%
ROICexc growth 3Y14.61%
ROICexc growth 5Y-0.23%
OM growth 3Y18.91%
OM growth 5Y3.17%
PM growth 3Y20.1%
PM growth 5Y1.34%
GM growth 3Y3.77%
GM growth 5Y1.11%
F-Score6
Asset Turnover0.61
Health
Industry RankSector Rank
Debt/Equity 1.55
Debt/FCF 14.13
Debt/EBITDA 3.11
Cap/Depr 96.55%
Cap/Sales 6.63%
Interest Coverage 4.55
Cash Conversion 78.45%
Profit Quality 188.28%
Current Ratio 0.91
Quick Ratio 0.86
Altman-Z 0.87
F-Score6
WACC4.51%
ROIC/WACC1.28
Cap/Depr(3y)95.76%
Cap/Depr(5y)89.42%
Cap/Sales(3y)6.68%
Cap/Sales(5y)6.46%
Profit Quality(3y)191.78%
Profit Quality(5y)437.08%
High Growth Momentum
Growth
EPS 1Y (TTM)15.01%
EPS 3Y31.56%
EPS 5Y7.31%
EPS Q2Q%7.14%
EPS Next Y7.74%
EPS Next 2Y8.34%
EPS Next 3Y8.65%
EPS Next 5Y7.27%
Revenue 1Y (TTM)-1.45%
Revenue growth 3Y16.17%
Revenue growth 5Y10.45%
Sales Q2Q%-0.2%
Revenue Next Year2.07%
Revenue Next 2Y3.09%
Revenue Next 3Y3.44%
Revenue Next 5Y3.45%
EBIT growth 1Y7.58%
EBIT growth 3Y38.14%
EBIT growth 5Y13.96%
EBIT Next Year98.78%
EBIT Next 3Y30.19%
EBIT Next 5Y18.61%
FCF growth 1Y10.91%
FCF growth 3Y13.48%
FCF growth 5Y7.99%
OCF growth 1Y0.58%
OCF growth 3Y16.98%
OCF growth 5Y10.29%