Morningstar

Veolia Environnement SA VIE

Morningstar Rating
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Stock XPAR Rating as of
€29.31 −0.33 (1.11%)
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As of Delayed Price Closed

Company Report

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European Utilities Rallied in Q3 on Falling Interest Rates; We See Further Upside Potential

Tancrede Fulop

While wholesale power prices stabilized, government bonds’ yields fell on weak economic indicators and lower inflation in the US and Europe. Second-quarter results were boosted by very favorable hydro conditions that led to some guidance upgrades. This goldilocks scenario bolstered a rally in European utilities, enabling them to massively outperform the market and recover much of their earlier underperformance.

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Price vs Fair Value

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VIE is trading at a 685% premium.
Price
€29.64
Fair Value
€17.30
Uncertainty
Medium
1-Star Price
€39.23
5-Star Price
€15.51
Economic Moat
Hrhgd
Capital Allocation
Jlbnzlbt

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

Leverage remains an issue after the sharp net debt increase of the first half of 2024.

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News

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Trading Information

Previous Close Price
€29.64
Day Range
€29.21–29.63
52-Week Range
€24.86–31.60
Bid/Ask
€29.20 / €29.36
Market Cap
€21.41 Bil
Volume/Avg
1.4 Mil / 1.5 Mil

Key Statistics

Price/Earnings (Normalized)
20.75
Price/Sales
0.49
Dividend Yield (Trailing)
4.22%
Dividend Yield (Forward)
4.22%
Total Yield
4.22%

Company Profile

Veolia is the largest water company globally and a leading player in France. It is also involved in waste management with 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 its transport activity The integration of most activities of the historical rival Suez in 2022 drove an EBITDA increase of nearly 40%.
Sector
Industrials
Industry
Waste Management
Stock Style Box
Large Value
Total Number of Employees
218,288
Website
https://www.veolia.com

Competitors

Valuation

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Metric
VIE
AWK
Price/Earnings (Normalized)
 20.7530.50
Price/Book Value
 2.452.80
Price/Sales
 0.496.55
Price/Cash Flow
 5.1315.69
Price/Earnings
VIE
AWK

Financial Strength

Metric
VIE
AWK
Quick Ratio
 0.780.44
Current Ratio
 0.890.64
Interest Coverage
 3.113.32
Quick Ratio
VIE
AWK

Profitability

Metric
VIE
AWK
Return on Assets (Normalized)
 1.96%3.15%
Return on Equity (Normalized)
 16.51%9.65%
Return on Invested Capital (Normalized)
 5.99%5.60%
Return on Assets
VIE
AWK

Waste Management Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Waste Management Inc
WM
WvqhxxbyDcy$83.2 Bil
 Republic Services Inc
RSG
MwczhhgjZxt$62.8 Bil
 Waste Connections Inc
WCN
NsbpcrcvtMbgmx$45.8 Bil
 Veolia Environnement SA
VEOEF
—Trvrlr$24.1 Bil
 Veolia Environnement SA ADR
VEOEY
BdbcggymFqqjh$24.1 Bil
 GFL Environmental Inc
GFL
—Rfxxd$15.5 Bil
 Clean Harbors Inc
CLH
CbgzpybJvd$13.1 Bil
 Casella Waste Systems Inc Class A
CWST
—Vlyhhb$6.2 Bil
 Stericycle Inc
SRCL
KtfyqcrqGhrbnqp$5.7 Bil
 Cleanaway Waste Management Ltd
TSPCF
—Xqcj$4.4 Bil

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