Publicis Groupe SA

PUB: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€394.00	Yxjdn	Tnryqxcpf

Narrow-Moat Publicis Is Displaying Strength in Data, Technology, and Media

Ali Mogharabi

Feb 3, 2022

Business Strategy and Outlook

Publicis is the third-largest player in advertising (based on revenue), operating in more than 100 countries. Its restructuring to improve availability of and access to its solutions is likely to help it generate competitive organic growth, increase focus on the faster-growing emerging and the overall digital ad markets, and maintain margins at levels above its peers.

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We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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