Rankings Machinery & automation Bureau Veritas
Bureau Veritas
83
15070100
A view of the same findings, not a new score. How it works
A strong score: the model found few serious problems, but analysts see limited upside from here.
Biggest deductions
- Quality of growth−3
- Compliance case−3
- Segments under pressure−2
Strengths
- Raised guidance+2
- Growth segment (data centres)+1
- Buybacks+1
How the score is built
From 100 to 83, step by step: points off for the business, the price and the cracks, back for documented strengths, then three data adjustments.
Start
Score
Hover or select a step to see what drove it. Steps with findings open them below.
Key numbers
As of 3 Nov 2026. Analyst targets tend to be optimistic; read upside as a hint, not a forecast.
- Price
- 29.09 EUR
- Median analyst target
- 34.00 EUR
- Upside to median
- +16.9%
- Analysts
- 17
- Target range
- 28.50 – 37.00 EUR
- 52-week change
- +3%
- P/E (trailing)
- 25.8
- Forward P/E
- 18.7
- PEG
- 2.66
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 2 findings−5 of −30
- −3Quality of growthReported growth has slowed from 7.2% (2023) and 6.4% (2024) to 3.7% (2025) and 1.0% TTM, because currency and divestments eat into organic growth of about 5%; reported EPS has fallen 14% TTM to EUR 1.13.
- −2Segments under pressureAgri-Food & Commodities has shrunk from EUR 1.26bn to 1.15bn since 2024, Consumer Products has been flat at about EUR 0.80bn since 2023, and Certification grew only 1.9% organically in Q2 2026, with recovery plans needed in mature markets.
Price
Today's multiples against the company's own history and its peers. · 1 finding−1 of −35
- −1Multiples vs own historyForward P/E 16.7 vs 17.8–27.3 in 2021–25 and EV/EBITDA 10.3 vs 11.2–16.7 – at the bottom of the range. P/FCF 14.1 is, however, in line with 2025 (14.0), and analysts expect lower FCF in 2026 (€0.73bn, about 6.2% FCF yield) due to divestments.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 4 findings−8 of −35
- −3Compliance caseAn internal investigation uncovered compliance deviations in the Middle East and Africa, mainly in Government Services; the matter has been self-reported to the French authorities, €32m has been provisioned, and the company does not rule out further action. For a certification company, credibility is the core product.
- −2Portfolio reshapingOil & petrochemicals and coal (about €450m, about 7% of revenue) are being sold at 11x EBIT, and Government Services is being wound down until the beginning of 2027; reported net income fell 26% to €238m in H1 2026, and the disposals dilute earnings until the proceeds are reinvested.
- −2Macro and geopoliticsManagement cites geopolitical unrest hitting oil and petrochemical testing and activities in the Middle East; Consumer Products depends on Asian supply chains hit by tariffs.
- −1DebtNet debt/EBITDA rose from 1.4 (2025) to 1.7, and debt/equity is 1.79 after years of dividends and buybacks; equity is only €1.7bn.
Plus
Only documented strengths. · 4 findings+5 of +15
- +2Raised guidanceGuidance for 2026 organic growth raised to mid- to high single digit (from mid single digit) after H1 with 5.0% organic growth (Q2 5.5%) and adjusted operating margin of 15.5% (+29 bp at constant exchange rates).
- +1Growth segment (data centres)Buildings & Infrastructure – the largest division at EUR 2.06bn – grew 10.2% organically in Q2 2026, and data-centre-related services grew over 40%.
- +1BuybacksIn 2025, buybacks (€191m) plus dividends (€430m) totalled €621m, below FCF of €860m; the share count fell 1%, and a new €200m programme runs to February 2027 (360,097 shares bought 14–18 Sept).
- +1Stable FCF and ROICFCF of €0.66–0.86bn annually since 2021 (FCF margin about 12%) and ROIC of 18–21% since 2023 with low capital intensity (capex about 2% of revenue).
Caveats
What the score does not capture, or where the data is weak.
Testing, inspection and certification (TIC) does not fit the list exactly; the nearest industry is 'Machinery & automation' (industrial services). Forward P/E 16.7 is based on adjusted EPS (€1.54 for 2026), while reported EPS TTM is €1.13 (trailing P/E 23.5): reported net profit fell 26% in H1 2026 due to one-off items (portfolio sales and a compliance provision of €32m). stockanalysis shows a dividend of €832m TTM (payment timing shift); on an annual basis €430m was paid in 2025. The sale of oil & petrochemicals and coal (about €450m revenue) and the exit from Government Services change the basis of comparison from 2027. Customer concentration and insider trades have not been investigated.
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