Vinci’s strategy to extend the maturity of its concession portfolio will help the business earn maintainable economic profits. The group's portfolio of long-dated concession assets such as toll roads and airports (70% of operating profits) are difficult to replicate and provide a stable source of income.
Vinci’s portfolio of diversified concession assets is a unique opportunity for investors to own irreplaceable infrastructure across multiple assets. Returns are supported by long-term concession contracts with tariffs being contractually tied to inflation.
The high operating margins Vinci earns on its transport infrastructure have caught the attention of regulators, evident by the new transport tax imposed in France.
|
Metric
|
DG
|
EN
|
ALX
|
|---|---|---|---|
Price/Earnings (Normalized) | 13.07 | 12.98 | 24.04 |
Price/Book Value | 2.31 | 1.10 | 2.31 |
Price/Sales | 0.93 | 0.24 | 58.38 |
Price/Cash Flow | 7.19 | 3.21 | 102.86 |
|
Metric
|
DG
|
EN
|
ALX
|
|---|---|---|---|
Quick Ratio | 0.70 | 0.81 | 2.88 |
Current Ratio | 0.91 | 0.95 | 2.90 |
Interest Coverage | 6.97 | 4.53 | 3.32 |
|
Metric
|
DG
|
EN
|
ALX
|
|---|---|---|---|
Return on Assets (Normalized) | 4.29% | 2.10% | 3.11% |
Return on Equity (Normalized) | 18.27% | 10.42% | 4.69% |
Return on Invested Capital (Normalized) | 9.34% | 5.27% | 3.88% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
VCISY
| Vinci SA ADR | — | Yrbyfhq | $69.0 Bil | |
VCISF
| Vinci SA | — | Ytwwt | $69.0 Bil | |
LTOUF
| Larsen & Toubro Ltd DR | — | Jhvw | $58.4 Bil | |
PWR
| Quanta Services Inc | Cqtdfxm | Lmpf | $36.0 Bil | |
CRWOF
| China Railway Group Ltd Class H | — | Rydp | $22.7 Bil | |
J
| Jacobs Solutions Inc | Gprfwgfwc | Vsctd | $18.0 Bil | |
ACM
| AECOM | Lstjwfdx | Lzhqj | $12.7 Bil | |
KBR
| KBR Inc | Yytlzpbhf | Ryj | $8.4 Bil | |
FLR
| Fluor Corp | Cvm | Vfsb | $6.7 Bil | |
MTZ
| MasTec Inc | Gjqpmdjty | Phh | $6.6 Bil |
