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Veolia Environnement

ENXTPA:VIE
Snowflake Description

Unattractive dividend payer with concerning outlook.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
VIE
ENXTPA
€13B
Market Cap
  1. Home
  2. FR
  3. Utilities
Company description

Veolia Environnement S.A. designs and provides water, waste, and energy management solutions worldwide. The last earnings update was 30 days ago. More info.


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VIE Share Price and Events
7 Day Returns
-1.2%
ENXTPA:VIE
-0.5%
Europe Integrated Utilities
-0.9%
FR Market
1 Year Returns
27.5%
ENXTPA:VIE
13%
Europe Integrated Utilities
20.4%
FR Market
VIE Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Veolia Environnement (VIE) -1.2% 1% 3.1% 27.5% 44.5% 63.6%
Europe Integrated Utilities -0.5% -0% 4.9% 13% 18.3% -11.4%
FR Market -0.9% 0.2% 3.8% 20.4% 28.8% 49.6%
1 Year Return vs Industry and Market
  • VIE outperformed the Integrated Utilities industry which returned 13% over the past year.
  • VIE outperformed the Market in France which returned 20.4% over the past year.
Price Volatility
VIE
Industry
5yr Volatility vs Market
Related Companies

VIE Value

 Is Veolia Environnement undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Veolia Environnement to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Veolia Environnement.

ENXTPA:VIE Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Dividend Discount Model
Dividend Per Share Company Filings (2019-09-30) in EUR € 1.0850446666667
Payout Ratio Company Filings (2019-09-30) 11155.4%
Discount Rate (Cost of Equity) See below 4.7%
Perpetual Growth Rate 10-Year FR Government Bond Rate -0.1%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for ENXTPA:VIE
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year FR Govt Bond Rate -0.1%
Equity Risk Premium S&P Global 6.1%
Integrated Utilities Unlevered Beta Simply Wall St/ S&P Global 0.27
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.268 (1 + (1- 33%) (133.38%))
0.671
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.11% + (0.8 * 6.07%)
4.75%

Discounted Cash Flow Calculation for ENXTPA:VIE using Dividend Discount Model Model

The calculations below outline how an intrinsic value for Veolia Environnement is arrived at by discounting future dividends to their present value. This approach is used for finance firms where free cash flow is difficult to estimate (e.g. Banks/ Insurance firms).

If the firm does not pay the majority of its earnings out as a dividend this method will often arrive at a value significantly lower than the share price.

See our documentation to learn about this calculation.

ENXTPA:VIE Gordon Growth Model
Calculation Result
Value per share = Expected dividends per share / (Discount Rate - Perpetual growth rate)
= €1.09 / (4.75% - -0.11%)
€19.99
ENXTPA:VIE Discount to Share Price
Calculation Result
Value per share (EUR) From above. €19.99
Current discount Discount to share price of €22.96
= -1 x (€22.96 - €19.99) / €19.99
-14.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Veolia Environnement is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Veolia Environnement's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Veolia Environnement's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
ENXTPA:VIE PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in EUR €0.83
ENXTPA:VIE Share Price ** ENXTPA (2019-12-06) in EUR €22.96
Europe Integrated Utilities Industry PE Ratio Median Figure of 17 Publicly-Listed Integrated Utilities Companies 20.92x
France Market PE Ratio Median Figure of 406 Publicly-Listed Companies 17.67x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Veolia Environnement.

ENXTPA:VIE PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= ENXTPA:VIE Share Price ÷ EPS (both in EUR)

= 22.96 ÷ 0.83

27.83x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Veolia Environnement is overvalued based on earnings compared to the Europe Integrated Utilities industry average.
  • Veolia Environnement is overvalued based on earnings compared to the France market.
Price based on expected Growth
Does Veolia Environnement's expected growth come at a high price?
Raw Data
ENXTPA:VIE PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 27.83x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts
7.2%per year
Europe Integrated Utilities Industry PEG Ratio Median Figure of 11 Publicly-Listed Integrated Utilities Companies 3.53x
France Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

ENXTPA:VIE PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 27.83x ÷ 7.2%

3.84x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Veolia Environnement is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Veolia Environnement's assets?
Raw Data
ENXTPA:VIE PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in EUR €10.16
ENXTPA:VIE Share Price * ENXTPA (2019-12-06) in EUR €22.96
Europe Integrated Utilities Industry PB Ratio Median Figure of 20 Publicly-Listed Integrated Utilities Companies 1.86x
France Market PB Ratio Median Figure of 595 Publicly-Listed Companies 1.45x
ENXTPA:VIE PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= ENXTPA:VIE Share Price ÷ Book Value per Share (both in EUR)

= 22.96 ÷ 10.16

2.26x

* Primary Listing of Veolia Environnement.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Veolia Environnement is overvalued based on assets compared to the Europe Integrated Utilities industry average.
X
Value checks
We assess Veolia Environnement's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Integrated Utilities industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Integrated Utilities industry average (and greater than 0)? (1 check)
  5. Veolia Environnement has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

VIE Future Performance

 How is Veolia Environnement expected to perform in the next 1 to 3 years based on estimates from 14 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Veolia Environnement expected to grow at an attractive rate?
  • Veolia Environnement's earnings growth is expected to exceed the low risk savings rate of -0.1%.
Growth vs Market Checks
  • Veolia Environnement's earnings growth is positive but not above the France market average.
  • Veolia Environnement's revenue growth is positive but not above the France market average.
Annual Growth Rates Comparison
Raw Data
ENXTPA:VIE Future Growth Rates Data Sources
Data Point Source Value (per year)
ENXTPA:VIE Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 14 Analysts 7.2%
ENXTPA:VIE Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 14 Analysts 2.7%
Europe Integrated Utilities Industry Earnings Growth Rate Market Cap Weighted Average 10.9%
Europe Integrated Utilities Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
France Market Earnings Growth Rate Market Cap Weighted Average 11.6%
France Market Revenue Growth Rate Market Cap Weighted Average 4.7%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
ENXTPA:VIE Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
ENXTPA:VIE Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 29,918 3,433 954 1
2022-12-31 29,355 3,293 930 4
2021-12-31 28,267 2,728 862 11
2020-12-31 27,393 2,722 775 14
2019-12-31 26,901 2,558 881 11
2019-12-07
ENXTPA:VIE Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2019-09-30 26,887 457
2019-06-30 26,647 2,336 567
2019-03-31 26,258 437
2018-12-31 25,911 2,391 424
2018-09-30 25,104 551
2018-06-30 25,220 2,581 400
2018-03-31 25,370 453
2017-12-31 24,818 2,452 311
2017-09-30 24,678 2,477 302
2017-06-30 24,538 2,502 292
2017-03-31 24,363 2,529 316
2016-12-31 24,187 2,556 340

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Veolia Environnement's earnings are expected to grow by 7.2% yearly, however this is not considered high growth (20% yearly).
  • Veolia Environnement's revenue is expected to grow by 2.7% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
ENXTPA:VIE Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below

All data from Veolia Environnement Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:VIE Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.87 2.04 1.69 2.00
2022-12-31 1.65 1.90 1.49 4.00
2021-12-31 1.51 1.68 1.37 7.00
2020-12-31 1.38 1.53 1.23 10.00
2019-12-31 1.39 1.47 1.34 7.00
2019-12-07
ENXTPA:VIE Past Financials Data
Date (Data in EUR Millions) EPS *
2019-09-30 0.83
2019-06-30 1.03
2019-03-31
2018-12-31 0.77
2018-09-30
2018-06-30 0.73
2018-03-31
2017-12-31 0.57
2017-09-30 0.55
2017-06-30 0.53
2017-03-31 0.58
2016-12-31 0.62

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Veolia Environnement is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Veolia Environnement's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Veolia Environnement has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

VIE Past Performance

  How has Veolia Environnement performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Veolia Environnement's growth in the last year to its industry (Integrated Utilities).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Veolia Environnement's year on year earnings growth rate has been positive over the past 5 years.
  • Veolia Environnement's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Veolia Environnement's 1-year earnings growth is negative, it can't be compared to the Europe Integrated Utilities industry average.
Earnings and Revenue History
Veolia Environnement's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Veolia Environnement Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

ENXTPA:VIE Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 26,887.10 456.50 2,769.30
2019-06-30 26,647.10 566.50 2,779.00
2019-03-31 26,258.10 436.50 2,769.30
2018-12-31 25,911.10 423.50 2,769.30
2018-09-30 25,103.95 550.65 705.95
2018-06-30 25,219.80 399.60 2,806.10
2018-03-31 25,370.35 453.10 2,138.80
2017-12-31 24,818.40 311.40 2,818.70
2017-09-30 24,678.40 301.50 2,809.60
2017-06-30 24,538.40 291.60 2,800.50
2017-03-31 24,362.70 315.85 2,817.50
2016-12-31 24,187.00 340.10 2,834.50
2016-09-30 24,334.65 294.85 2,879.15
2016-06-30 24,482.30 249.60 2,923.80
2016-03-31 24,723.55 307.90 2,951.85
2015-12-31 24,964.80 366.20 2,979.90
2015-09-30 24,839.80 378.45 3,013.10
2015-06-30 24,714.80 390.70 3,046.30
2015-03-31 24,297.20 293.20 2,999.50
2014-12-31 23,879.60 195.70 2,952.70
2014-09-30 23,553.95 38.65 2,912.25
2014-06-30 23,228.30 -118.40 2,871.80
2014-03-31 23,024.00 -161.20 2,883.45
2013-12-31 22,819.70 -204.00 2,895.10
2013-09-30 22,842.05 -91.05 2,929.35
2013-06-30 22,864.40 21.90 2,963.60
2013-03-31 23,051.65 -2.95 2,998.10
2012-12-31 23,238.90 -27.80 3,032.60

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Veolia Environnement has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Veolia Environnement used its assets less efficiently than the Europe Integrated Utilities industry average last year based on Return on Assets.
  • Veolia Environnement's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Veolia Environnement's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Integrated Utilities industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Veolia Environnement has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

VIE Health

 How is Veolia Environnement's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Veolia Environnement's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Veolia Environnement's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Veolia Environnement's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Veolia Environnement's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Veolia Environnement Company Filings, last reported 2 months ago.

ENXTPA:VIE Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 6,795.60 16,810.00 4,393.00
2019-06-30 6,795.60 14,956.40 4,393.00
2019-03-31 7,144.30 14,493.70 4,846.10
2018-12-31 7,144.30 14,327.10 4,846.10
2018-09-30
2018-06-30 6,713.80 13,896.80 3,379.90
2018-03-31 8,656.70 14,281.10 6,636.80
2017-12-31 8,633.90 14,101.80 6,636.80
2017-09-30 8,633.90 14,101.80 6,636.80
2017-06-30 8,418.40 13,720.60 5,271.40
2017-03-31 8,418.40 13,720.60 5,271.40
2016-12-31 8,876.50 13,163.00 5,670.20
2016-09-30 8,876.50 13,163.00 5,670.20
2016-06-30 9,051.00 12,351.60 3,826.20
2016-03-31 9,051.00 12,351.60 3,826.20
2015-12-31 9,130.30 12,142.70 4,340.40
2015-09-30 9,130.30 12,142.70 4,340.40
2015-06-30 9,547.30 10,965.40 1,870.00
2015-03-31 9,547.30 10,965.40 1,870.00
2014-12-31 9,479.40 11,322.80 3,277.80
2014-09-30 9,479.40 11,322.80 3,277.80
2014-06-30 9,577.60 11,652.50 2,983.70
2014-03-31 9,577.60 11,652.50 2,983.70
2013-12-31 9,659.50 12,663.10 4,385.20
2013-09-30 9,659.50 12,663.10 4,385.20
2013-06-30 9,764.10 13,941.70 3,840.30
2013-03-31 9,764.10 13,941.70 3,840.30
2012-12-31 8,497.60 15,609.80 5,167.40
  • Veolia Environnement's level of debt (220.1%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (119.4% vs 220.1% today).
  • Debt is not well covered by operating cash flow (15.6%, less than 20% of total debt).
  • Interest payments on debt are not well covered by earnings (EBIT is 3x annual interest expense, ideally 3x coverage).
X
Financial health checks
We assess Veolia Environnement's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Veolia Environnement has a total score of 0/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

VIE Dividends

 What is Veolia Environnement's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
4.01%
Current annual income from Veolia Environnement dividends. Estimated to be 4.73% next year.
If you bought €2,000 of Veolia Environnement shares you are expected to receive €80 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Veolia Environnement's pays a higher dividend yield than the bottom 25% of dividend payers in France (1.49%).
  • Veolia Environnement's dividend is below the markets top 25% of dividend payers in France (4.6%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
ENXTPA:VIE Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 14 Analyst Estimates (S&P Global) See Below
Europe Integrated Utilities Industry Average Dividend Yield Market Cap Weighted Average of 18 Stocks 4.6%
France Market Average Dividend Yield Market Cap Weighted Average of 310 Stocks 2.9%
France Minimum Threshold Dividend Yield 10th Percentile 0.9%
France Bottom 25% Dividend Yield 25th Percentile 1.5%
France Top 25% Dividend Yield 75th Percentile 4.6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

ENXTPA:VIE Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 1.37 1.00
2022-12-31 1.25 4.00
2021-12-31 1.14 12.00
2020-12-31 1.06 15.00
2019-12-31 0.99 13.00
2019-12-07
ENXTPA:VIE Past Annualized Dividends Data
Date (Data in €) Dividend per share (annual) Avg. Yield (%)
2019-02-21 0.920 4.261
2018-02-22 0.840 4.520
2017-02-27 0.800 4.159
2016-02-25 0.730 3.931
2015-02-26 0.700 3.526
2014-02-27 0.700 4.967
2012-11-07 0.700 6.746
2012-08-07 0.700 8.299
2012-08-02 0.700 8.453
2012-03-01 0.700 6.870
2011-03-04 1.210 9.886
2010-03-05 1.210 5.601
2009-05-07 1.210 5.247

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Veolia Environnement's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.9x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.3x coverage).
X
Income/ dividend checks
We assess Veolia Environnement's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.9%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Veolia Environnement afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Veolia Environnement has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

VIE Management

 What is the CEO of Veolia Environnement's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Antoine Frérot
COMPENSATION €2,944,931
AGE 61
TENURE AS CEO 10.1 years
CEO Bio

Mr. Antoine Frérot serves as the Chairman and Chief Executive Officer at Veolia Komodity CR, s.r.o. Mr. Frérot serves as the Chairman and Chief Executive Officer of Veolia Environmental Services North America Corp. He has been the Chairman and Chief Executive Officer of Van Gansewinkel Environmental Services Belgium NV since December 2010. Mr. Frérot serves as Chief Executive Officer at Veolia Ceska Republika, a.s. Mr. Frérot has been the Chief Executive Officer of Veolia Environnement Services Re at Dalkia AB since November 2009. He serves as Chief Executive Officer of Veolia Water at Veolia North America, LLC. Mr. Frérot has been the Chairman of Veolia Environnement Services Re at Dalkia AB since December 12, 2010. He has been the Chairman of Veolia Ceska Republika, a.s. since December 12, 2010. He served as Senior Executive Vice-President of Veolia Environnement S.A. since January 2003. He served as the Head of Veolia Eau-Compagnie Général des Eaux. He served as the Head of Water Division of Veolia Water Solutions & Technologies S.A. He served as the Chief Executive Officer of Veolia Eau-Compagnie Général des Eaux since January 21, 2003 and served as its Member of the Management Board. He served as an Executive Vice President of Veolia Environnement S.A. at Veolia Eau-Compagnie Générale des Eaux since April 2000. He served as the Chief Executive Officer of Veolia Water S.A since 1995 and also served as its Member of Management Board. He served as the Chief Executive Officer of Veolia Water Solutions & Technologies S.A., a subsidiary of Veolia Environnement Services Re since 1995. He served as the Head of Water Division of Veolia Environnement SA since April 2000 and served as its Member of the Management Board from April 2000 to April 30, 2003. Mr. Frérot started his career in 1981 as a Research Engineer at the Bureau Central d'Études pour l'Outre-Mer. In 1983, he joined the Research centre at the École Nationale des Ponts et Chaussées as Project Manager and served as its Deputy Director from 1984 to 1988. From 1988 to 1990, he served as the Head of Financial Operations of the Crédit National. He joined the Générale des Eaux in 1990 and served as Managing Director in charge of public transport of Connex since 1995. Since 2000, he served as the Chief Executive Officer of Veolia Transportation, VE's Transport Division. He serves as President of The Supervisory Board at EOLFI SA. He serves as a Member of Supervisory Board at Dalkia International and Veolia Energie International. He serves as Member of the Board of Directors of Société des Eaux de Marseille S.A. He has been a Director of Veolia Environnement Services Re since May 7, 2010. He is graduated from the Ecole Polytechnique in 1977 and holds a Ph.D in Civil Engineering from the École Nationale des Ponts et Chaussées.

CEO Compensation
  • Antoine's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Antoine's remuneration is about average for companies of similar size in France.
Management Team Tenure

Average tenure and age of the Veolia Environnement management team in years:

1.9
Average Tenure
54
Average Age
  • The average tenure for the Veolia Environnement management team is less than 2 years, this suggests a new team.
Management Team

Antoine Frérot

TITLE
Chairman & CEO
COMPENSATION
€3M
AGE
61
TENURE
10.1 yrs

Claude Laruelle

TITLE
Chief Financial Officer
TENURE
1.2 yrs

Estelle Brachlianoff

TITLE
Chief Operating Officer
AGE
47
TENURE
1.3 yrs

Jean-Christophe Laissy

TITLE
Senior VP of Information Systems & Technology? and CIO
TENURE
1.9 yrs

Ronald Wasylec

TITLE
Head of Investor Relations

Éric Haza

TITLE
Chief Legal Officer

Jean-Baptiste Carpentier

TITLE
Chief Compliance Officer
AGE
54
TENURE
1.9 yrs

Laurent Obadia

TITLE
Senior VP of Communications and Advisor to the Chairman & CEO
TENURE
1.9 yrs

Jean-Marie Lambert

TITLE
Senior Executive Vice President of Human Resources
AGE
62

Laurent Auguste

TITLE
Senior Executive Vice President of Development
AGE
52
Board of Directors Tenure

Average tenure and age of the Veolia Environnement board of directors in years:

7.3
Average Tenure
63.5
Average Age
  • The tenure for the Veolia Environnement board of directors is about average.
Board of Directors

Antoine Frérot

TITLE
Chairman & CEO
COMPENSATION
€3M
AGE
61
TENURE
9 yrs

Louis Schweitzer

TITLE
Vice Chairman
COMPENSATION
€123K
AGE
76
TENURE
6.6 yrs

Nathalie Rachou

TITLE
Independent Director
COMPENSATION
€97K
AGE
62
TENURE
7.6 yrs

Maryse Aulagnon

TITLE
Senior Independent Director
COMPENSATION
€105K
AGE
70
TENURE
2.1 yrs

Paolo Scaroni

TITLE
Director
COMPENSATION
€48K
AGE
73
TENURE
13 yrs

Olivier Mareuse

TITLE
Independent Director
COMPENSATION
€37K
AGE
56
TENURE
7.8 yrs

Jacques Aschenbroich

TITLE
Independent Director
COMPENSATION
€68K
AGE
65
TENURE
7.6 yrs

Marion Guillou

TITLE
Independent Director
COMPENSATION
€56K
AGE
65
TENURE
7 yrs

Pavel Páša

TITLE
Representative Director
COMPENSATION
€48K
AGE
54
TENURE
5.2 yrs

Isabelle Courville

TITLE
Independent Director
COMPENSATION
€70K
AGE
56
TENURE
3.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess Veolia Environnement's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Veolia Environnement has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

VIE News

Simply Wall St News

Does Veolia Environnement's (EPA:VIE) Share Price Gain of 51% Match Its Business Performance?

To wit, the Veolia Environnement share price has climbed 51% in five years, easily topping the market return of 31% (ignoring dividends). … Indeed, the Veolia Environnement share price has gained 8.0% in three years. … We note that for Veolia Environnement the TSR over the last 5 years was 85%, which is better than the share price return mentioned above.

Simply Wall St -

Does Veolia Environnement S.A. (EPA:VIE) Create Value For Shareholders?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Veolia Environnement: 11% = €567m ÷ €6.8b (Based on the trailing twelve months to June 2019.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Combining Veolia Environnement's Debt And Its 11% Return On Equity It's worth noting the significant use of debt by Veolia Environnement, leading to its debt to equity ratio of 2.20. … A company that can achieve a high return on equity without debt could be considered a high quality business.

Simply Wall St -

Veolia Environnement S.A. (EPA:VIE): What We Can Expect From This Growth Stock

Overall, analyst consensus outlook appear vastly optimistic, with earnings expected to grow by a high double-digit of 67% in the upcoming year, relative to the previous 5-year average growth rate of 26%. … See our latest analysis for Veolia Environnement Can we expect Veolia Environnement to keep growing? … To reduce the year-on-year volatility of analyst earnings forecast, I've inserted a line of best fit through the expected earnings figures to determine the annual growth rate from the slope of the line.

Simply Wall St -

Does Veolia Environnement S.A.'s (EPA:VIE) Stock Price Account For Its Growth?

VIE is trading at price-to-earnings (PE) ratio of 29.02x, which suggests that Veolia Environnement is overvalued based on current earnings compared to the Integrated Utilities industry average of 19.38x , and overvalued compared to the FR market average ratio of 17.64x. … However, to properly examine the value of a high-growth stock such as Veolia Environnement, we must reflect its earnings growth into the valuation. … This tells us that when we include its growth in our analysis Veolia Environnement's stock can be considered overvalued , based on its fundamentals.

Simply Wall St -

Veolia Environnement (EPA:VIE) Has A Somewhat Strained Balance Sheet

ENXTPA:VIE Historical Debt, July 12th 2019 How Healthy Is Veolia Environnement's Balance Sheet? … Either way, since Veolia Environnement does have more debt than cash, it's worth keeping an eye on its balance sheet. … Our View Veolia Environnement's struggle to handle its total liabilities had us second guessing its balance sheet strength, but the other data-points we considered were relatively redeeming.

Simply Wall St -

Veolia Environnement S.A. (EPA:VIE) Is Yielding 4.3% - But Is It A Buy?

(EPA:VIE) a good dividend stock? How can we tell? Dividend paying companies with growing earnings can be highly rewarding in the long term. If you are hoping to live on the income from dividends, it's important to be a lot more stringent with your investments than the average punter. A high yield and a long history of paying dividends is an appealing combination for Veolia Environnement. We'd guess that plenty of investors have purchased it for the income. Some simple research can reduce the risk of buying Veolia Environnement for its dividend - read on to learn more. Click the interactive chart for our full dividend analysis ENXTPA:VIE Historical Dividend Yield, July 2nd 2019 Payout ratios Dividends are usually paid out of company earnings. If a company is paying more than it earns, then the dividend might become unsustainable - hardly an ideal situation. Comparing dividend payments to a company's net profit after tax is a simple way of reality-checking whether a dividend is sustainable. Veolia Environnement paid out 117% of its profit as dividends, over the trailing twelve month period. A payout ratio above 100% is definitely an item of concern, unless there are some other circumstances that would justify it. Another important check we do is to see if the free cash flow generated is sufficient to pay the dividend. The company paid out 51% of its free cash flow, which is not bad per se, but does start to limit the amount of cash Veolia Environnement has available to meet other needs. It's disappointing to see that the dividend was not covered by profits, but cash is more important from a dividend sustainability perspective, and Veolia Environnement fortunately did generate enough cash to fund its dividend. Still, if the company repeatedly paid a dividend greater than its profits, we'd be concerned. Extraordinarily few companies are capable of persistently paying a dividend that is greater than their profits. Is Veolia Environnement's Balance Sheet Risky? As Veolia Environnement has a meaningful amount of debt, we need to check its balance sheet to see if the company might have debt risks. A rough way to check this is with these two simple ratios: a) net debt divided by EBITDA (earnings before interest, tax, depreciation and amortisation), and b) net interest cover. … However, it's also important to assess if earnings per share (EPS) are growing. Growing EPS can help maintain or increase the purchasing power of the dividend over the long run. It's good to see Veolia Environnement has been growing its earnings per share at 26% a year over the past 5 years. The company has been growing its EPS at a very rapid rate, while paying out virtually all of its income as dividends. While EPS could grow fast enough to make the dividend sustainable, in this type of situation, we'd want to pay extra attention to any fragilities in the company's balance sheet. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing. … Earnings growth generally bodes well for the future value of company dividend payments.

Simply Wall St -

What We Think Of Veolia Environnement S.A.’s (EPA:VIE) Investment Potential

The formula for calculating the return on capital employed is: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Veolia Environnement: 0.068 = €1.4b ÷ (€38b - €17b) (Based on the trailing twelve months to March 2019.) Therefore, Veolia Environnement has an ROCE of 6.8%. … Do Veolia Environnement's Current Liabilities Skew Its ROCE? … Veolia Environnement's ROCE is improved somewhat by its moderate amount of current liabilities.

Simply Wall St -

Should You Worry About Veolia Environnement S.A.'s (EPA:VIE) CEO Pay?

Antoine Frérot has been the CEO of Veolia Environnement S.A. … First, this article will compare CEO compensation with compensation at other large companies. … See our latest analysis for Veolia Environnement How Does Antoine Frérot's Compensation Compare With Similar Sized Companies?

Simply Wall St -

What Does Veolia Environnement S.A.'s (EPA:VIE) P/E Ratio Tell You?

We'll look at Veolia Environnement S.A.'s (EPA:VIE) P/E ratio and reflect on what it tells us about the company's share price. … Looking at earnings over the last twelve months, Veolia Environnement has a P/E ratio of 26.87. … Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS)

Simply Wall St -

The Veolia Environnement (EPA:VIE) Share Price Has Gained 58% And Shareholders Are Hoping For More

During the five years of share price growth, Veolia Environnement moved from a loss to profitability. … In fact, the Veolia Environnement stock price is 2.1% lower in the last three years. … It would appear there's a real mismatch between the increasing EPS and the share price, which has declined -0.7% a year for three years?

Simply Wall St -

VIE Company Info

Description

Veolia Environnement S.A. designs and provides water, waste, and energy management solutions worldwide. The company is involved in the resource management, production, and delivery of drinking water and industrial process water; collection, treatment, and recycling of wastewater, including the treatment and recovery of waste; and design and construction of treatment and network infrastructure. It also provides waste collection, waste material recovery, waste-to-energy, organic waste material recovery, hazardous waste treatment, dismantling and remediation, urban cleaning, and industrial maintenance and cleaning services. In addition, the company engages in the operation and maintenance of heating and cooling networks; development of energy services to reduce the energy consumption and CO2 emissions of buildings; and optimization of industrial utilities, as well as energy use related to processes and industrial buildings. It offers drinking water to 95 million people; wastewater treatment services to 63 million people; and waste collection services to 43 million people, as well as supplies heating to approximately 8.4 million people. The company was formerly known as Vivendi Environnement and changed its name to Veolia Environnement S.A. in 2003. Veolia Environnement S.A. was founded in 1853 and is headquartered in Aubervilliers, France.

Details
Name: Veolia Environnement S.A.
VIE
Exchange: ENXTPA
Founded: 1853
€12,602,946,448
554,707,150
Website: http://www.veolia.com/fr
Address: Veolia Environnement S.A.
30, rue Madeleine-Vionnet,
Aubervilliers,
Ile-de-France, 93300,
France
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
ENXTPA VIE Ordinary Shares Euronext Paris FR EUR 20. Jul 2000
OTCPK VEOE.F Ordinary Shares Pink Sheets LLC US USD 20. Jul 2000
DB VVD Ordinary Shares Deutsche Boerse AG DE EUR 20. Jul 2000
XTRA VVD Ordinary Shares XETRA Trading Platform DE EUR 20. Jul 2000
LSE 0NY8 Ordinary Shares London Stock Exchange GB EUR 20. Jul 2000
SWX VIE Ordinary Shares SIX Swiss Exchange CH CHF 20. Jul 2000
WBAG VIE Ordinary Shares Wiener Boerse AG AT EUR 20. Jul 2000
BMV VIE N Ordinary Shares Bolsa Mexicana de Valores MX MXN 20. Jul 2000
ETLX VVD Ordinary Shares Eurotlx IT EUR 20. Jul 2000
BATS-CHIXE VIEP Ordinary Shares BATS 'Chi-X Europe' GB EUR 20. Jul 2000
OTCPK VEOE.Y ADR EACH REP ONE ORD EUR13.5(SPON) Pink Sheets LLC US USD 05. Oct 2001
DB VVDH ADR EACH REP ONE ORD EUR13.5(SPON) Deutsche Boerse AG DE EUR 05. Oct 2001
BST VVDH ADR EACH REP ONE ORD EUR13.5(SPON) Boerse-Stuttgart DE EUR 05. Oct 2001
BST A1HEWB 4.45%-VAR SUB NTS PERP EUR1000 Boerse-Stuttgart DE EUR 10. Jan 2013
Number of employees
Current staff
Staff numbers
162,740
Veolia Environnement employees.
Industry
Multi-Utilities
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/12/07 20:44
End of day share price update: 2019/12/06 00:00
Last estimates confirmation: 2019/12/03
Last earnings filing: 2019/11/07
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.