(BVI) Bureau Veritas - Overview
Stock: Testing, Inspection, Certification, Auditing, Compliance
Dividends
| Dividend Yield | 3.22% |
| Yield on Cost 5y | 4.53% |
| Yield CAGR 5y | 25.74% |
| Payout Consistency | 89.2% |
| Payout Ratio | 62.1% |
| Risk 5d forecast | |
|---|---|
| Volatility | 19.8% |
| Relative Tail Risk | -5.65% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.36 |
| Alpha | -8.85 |
| Character TTM | |
|---|---|
| Beta | 0.043 |
| Beta Downside | -0.011 |
| Drawdowns 3y | |
|---|---|
| Max DD | 20.96% |
| CAGR/Max DD | 0.22 |
Description: BVI Bureau Veritas January 04, 2026
Bureau Veritas SA (Ticker: BVI) is a French-based leader in testing, inspection and certification (TIC) services, operating across six segments: Marine & Offshore, Agri-Food & Commodities, Industry, Buildings & Infrastructure, Certification, and Consumer Products. The firm audits, inspects, analyzes and certifies client assets and management systems against regulatory or voluntary standards, delivering compliance reports and risk-mitigation solutions.
In FY 2023 the company generated roughly €5.6 billion in revenue, with an adjusted operating margin around 9 %. Growth has been driven by rising demand for ESG-related certifications and the expansion of its digital inspection platform, which now accounts for about 12 % of total service volume.
The business is highly exposed to macro-drivers such as global infrastructure spending (estimated to exceed €15 trillion through 2030) and the volatility of oil and gas prices, which directly affect the Marine & Offshore and Industry segments. Conversely, the Agri-Food & Commodities division benefits from tightening food safety regulations in Europe and North America.
Given the breadth of its client base-from construction and aerospace to financial services and public sector entities-Bureau Veritas serves as a bellwether for compliance spending across multiple high-growth industries.
For a deeper quantitative breakdown, you might explore the ValueRay platform’s analyst toolkit.
Piotroski VR‑10 (Strict, 0-10) 8.5
| Net Income: 1.16b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.23 > 0.02 and ΔFCF/TA 11.58 > 1.0 |
| NWC/Revenue: 3.48% < 20% (prev 12.85%; Δ -9.37% < -1%) |
| CFO/TA 0.28 > 3% & CFO 1.82b > Net Income 1.16b |
| Net Debt (1.72b) to EBITDA (2.48b): 0.69 < 3 |
| Current Ratio: 1.18 > 1.5 & < 3 |
| Outstanding Shares: last quarter (451.5m) vs 12m ago -1.12% < -2% |
| Gross Margin: 48.41% > 18% (prev 0.33%; Δ 4809 % > 0.5%) |
| Asset Turnover: 182.4% > 50% (prev 120.3%; Δ 62.14% > 0%) |
| Interest Coverage Ratio: 9.22 > 6 (EBITDA TTM 2.48b / Interest Expense TTM 207.2m) |
Altman Z'' 3.54
| A: 0.07 (Total Current Assets 2.92b - Total Current Liabilities 2.48b) / Total Assets 6.56b |
| B: 0.21 (Retained Earnings 1.39b / Total Assets 6.56b) |
| C: 0.28 (EBIT TTM 1.91b / Avg Total Assets 6.85b) |
| D: 0.52 (Book Value of Equity 2.62b / Total Liabilities 5.08b) |
| Altman-Z'' Score: 3.54 = A |
Beneish M -3.26
| DSRI: 0.70 (Receivables 2.03b/1.98b, Revenue 12.49b/8.59b) |
| GMI: 0.67 (GM 48.41% / 32.59%) |
| AQI: 1.14 (AQ_t 0.43 / AQ_t-1 0.38) |
| SGI: 1.46 (Revenue 12.49b / 8.59b) |
| TATA: -0.10 (NI 1.16b - CFO 1.82b) / TA 6.56b) |
| Beneish M-Score: -3.26 (Cap -4..+1) = AA |
What is the price of BVI shares?
Over the past week, the price has changed by +3.17%, over one month by +2.87%, over three months by -1.27% and over the past year by -1.85%.
Is BVI a buy, sell or hold?
What are the forecasts/targets for the BVI price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 33.5 | 20% |
| Analysts Target Price | - | - |
| ValueRay Target Price | 29.8 | 6.5% |
BVI Fundamental Data Overview February 03, 2026
P/E Trailing = 18.6897
P/E Forward = 17.6367
P/S = 1.8156
P/B = 8.3075
P/EG = 2.3529
Revenue TTM = 12.49b EUR
EBIT TTM = 1.91b EUR
EBITDA TTM = 2.48b EUR
Long Term Debt = 1.89b EUR (from longTermDebt, last quarter)
Short Term Debt = 341.4m EUR (from shortTermDebt, last quarter)
Debt = 2.58b EUR (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.72b EUR (from netDebt column, last quarter)
Enterprise Value = 13.74b EUR (12.02b + Debt 2.58b - CCE 867.5m)
Interest Coverage Ratio = 9.22 (Ebit TTM 1.91b / Interest Expense TTM 207.2m)
EV/FCF = 8.97x (Enterprise Value 13.74b / FCF TTM 1.53b)
FCF Yield = 11.15% (FCF TTM 1.53b / Enterprise Value 13.74b)
FCF Margin = 12.27% (FCF TTM 1.53b / Revenue TTM 12.49b)
Net Margin = 9.31% (Net Income TTM 1.16b / Revenue TTM 12.49b)
Gross Margin = 48.41% ((Revenue TTM 12.49b - Cost of Revenue TTM 6.44b) / Revenue TTM)
Gross Margin QoQ = 23.27% (prev none%)
Tobins Q-Ratio = 2.10 (Enterprise Value 13.74b / Total Assets 6.56b)
Interest Expense / Debt = 1.58% (Interest Expense 40.8m / Debt 2.58b)
Taxrate = 26.06% (119.0m / 456.7m)
NOPAT = 1.41b (EBIT 1.91b * (1 - 26.06%))
Current Ratio = 1.18 (Total Current Assets 2.92b / Total Current Liabilities 2.48b)
Debt / Equity = 1.79 (Debt 2.58b / totalStockholderEquity, last quarter 1.44b)
Debt / EBITDA = 0.69 (Net Debt 1.72b / EBITDA 2.48b)
Debt / FCF = 1.12 (Net Debt 1.72b / FCF TTM 1.53b)
Total Stockholder Equity = 1.74b (last 4 quarters mean from totalStockholderEquity)
RoA = 16.98% (Net Income 1.16b / Total Assets 6.56b)
RoE = 66.64% (Net Income TTM 1.16b / Total Stockholder Equity 1.74b)
RoCE = 52.52% (EBIT 1.91b / Capital Employed (Equity 1.74b + L.T.Debt 1.89b))
RoIC = 34.72% (NOPAT 1.41b / Invested Capital 4.07b)
WACC = 5.20% (E(12.02b)/V(14.61b) * Re(6.07%) + D(2.58b)/V(14.61b) * Rd(1.58%) * (1-Tc(0.26)))
Discount Rate = 6.07% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -100.0 | Cagr: -0.72%
[DCF Debug] Terminal Value 88.43% ; FCFF base≈1.26b ; Y1≈1.55b ; Y5≈2.64b
Fair Price DCF = 169.3 (EV 76.85b - Net Debt 1.72b = Equity 75.13b / Shares 443.7m; r=5.90% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: -10.98 | EPS CAGR: -42.03% | SUE: 0.0 | # QB: 0
Revenue Correlation: 34.80 | Revenue CAGR: 9.97% | SUE: 0.03 | # QB: 0
EPS next Year (2026-12-31): EPS=1.56 | Chg30d=+0.000 | Revisions Net=-1 | Growth EPS=+9.6% | Growth Revenue=+5.1%