Vivendi SE (VIV.PA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-173.9%

-€1.19

vs €1.60 price

Levered DCF

-€0.76

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.03

Distress zone

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	117.91×	-0.43×	5.37×	-3.14×	-5.28×	1.87×	1.8×	18.9×
P/B	0.5×	0.56×	0.13×	0.13×	0.15×	0.17×	0.18×	0.14×
P/S	7.67×	8.72×	0.21×	0.23×	0.3×	0.17×	0.18×	0.17×
EV / EBITDA	-45.31×	51.86×	6.57×	12.21×	23.52×	8.7×	3.91×	2.93×
Gross margin	21.8%	29.0%	45.8%	44.2%	44.0%	45.2%	44.4%	45.3%
Operating margin	-34.2%	-45.8%	8.1%	3.8%	7.9%	9.1%	8.7%	8.5%
Net margin	6.5%	-2021.5%	3.9%	-6.7%	-5.6%	8.9%	10.0%	0.9%
Current ratio	0.16×	0.24×	0.76×	1.11×	1.22×	0.63×	0.78×	1.11×
Debt / equity	0.29×	0.59×	0.52×	0.24×	0.26×	0.48×	0.54×	0.24×
Interest coverage	-1.15×	-1.64×	4.63×	6.74×	10.05×	15.45×	12.22×	14.07×
Dividend yield	1.7%	9.8%	11.6%	11.9%	22.4%	25.7%	22.4%	23.8%
Payout ratio	200.0%	-4.2%	63.2%	-40.3%	-121.4%	47.9%	40.2%	447.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.4%	-130.7%	2.4%	-3.7%	-2.8%	9.1%	10.3%	0.7%
Return on invested capital	-1.4%	-1.8%	2.2%	1.6%	3.0%	4.0%	5.2%	1.5%
Return on assets	0.3%	-75.7%	1.1%	-2.1%	-1.6%	3.8%	4.2%	0.4%
Free cash flow yield	0.8%	71.0%	24.8%	16.6%	40.4%	29.4%	30.1%	35.0%
Earnings yield	0.8%	-231.9%	18.4%	-29.6%	-18.5%	53.7%	55.8%	5.3%
Enterprise value	€3.5B	€5.2B	€8.9B	€4.5B	€4.6B	€9.3B	€9B	€2.8B
Net debt / EBITDA	-15.13×	26.23×	4.94×	6.29×	8.51×	6.19×	2.68×	0.44×
Cash conversion cycle (days)	-111	-9	-184	-200	-195	-44	-59	-81