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Veolia Environnement SA VIE

Morningstar Rating
€30.13 −0.24 (0.79%)
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Company Report

European Utilities Sell Off in Q1 on Falling Power Prices; RWE, SSE, Centrica, and Orsted Top Picks

European utilities have reversed their outperformance in the fourth quarter of 2023 because of a fall in wholesale power prices in the wake of gas prices after a very mild winter, and a pickup in interest rates due to inflation receding more slowly than expected. The former led to some of the companies, most exposed to power prices, cutting their guidance for 2024.

Price vs Fair Value

VIE is trading at a 4% discount.
Price
€29.65
Fair Value
€41.00
Uncertainty
Medium
1-Star Price
€14.67
5-Star Price
€68.40
Economic Moat
Jbzt
Capital Allocation
Hpgzvdhfk

Bulls Say, Bears Say

Bulls

The acquisition of Suez will be significantly value-accretive for Veolia thanks to high synergies despite the high price paid. To get the comparable international assets through bolt-on acquisitions would have been much more costly.

Bears

The integration of Suez will be dilutive on returns on invested capital.

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News

Trading Information

Previous Close Price
€30.37
Day Range
€30.0530.56
52-Week Range
€24.8630.70
Bid/Ask
€30.04 / €30.16
Market Cap
€21.54 Bil
Volume/Avg
1.6 Mil / 1.6 Mil

Key Statistics

Price/Earnings (Normalized)
20.01
Price/Sales
0.48
Dividend Yield (Trailing)
3.69%
Dividend Yield (Forward)
4.12%
Total Yield
3.69%

Company Profile

Veolia is the largest water company globally and a leading player in France. It is also involved in waste management with a significant exposure to France, the United Kingdom, Germany, the United States, and Australia. The third pillar of the group is energy services, giving the group significant exposure to Central Europe. Veolia started to refocus its activities in 2011, leading to the exit of almost half of its countries and of its transport activity. The integration of most activities of the historical rival Suez in 2022 drove a turnover increase of nearly 40%.
Sector
Industrials
Industry
Waste Management
Stock Style Box
Large Core
Total Number of Employees
207,393

Competitors

Valuation

Metric
VIE
AWK
Price/Earnings (Normalized)
20.0125.47
Price/Book Value
2.612.41
Price/Sales
0.485.54
Price/Cash Flow
5.2813.04
Price/Earnings
VIE
AWK

Financial Strength

Metric
VIE
AWK
Quick Ratio
0.870.49
Current Ratio
0.940.65
Interest Coverage
3.603.44
Quick Ratio
VIE
AWK

Profitability

Metric
VIE
AWK
Return on Assets (Normalized)
1.76%3.24%
Return on Equity (Normalized)
14.89%10.12%
Return on Invested Capital (Normalized)
4.98%5.82%
Return on Assets
VIE
AWK
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Waste Management Industry Comparables

Ticker
Name
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
WM
Waste Management IncLswvryfySxjkj$85.9 Bil
RSG
Republic Services IncVbngfvjZpjw$60.3 Bil
WCN
Waste Connections IncHnkfzwyjfNccbj$44.2 Bil
VEOEF
Veolia Environnement SASlzcd$23.5 Bil
VEOEY
Veolia Environnement SA ADRBqycnrwgHqbp$23.5 Bil
GFL
GFL Environmental IncJnlkqg$12.9 Bil
CLH
Clean Harbors IncRnwktrtmWkjbw$10.8 Bil
CWST
Casella Waste Systems Inc Class APfyqyg$5.7 Bil
SRCL
Stericycle IncPghrkghShdhn$4.9 Bil
TMRAY
Tomra Systems ASA ADRQslplnc$4.7 Bil

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