Rankings Construction & materials Saint-Gobain
Saint-Gobain
88
15070100
A view of the same findings, not a new score. How it works
In the 70+ zone: a score above 70 with more than 20% upside to the median analyst target.
Biggest deductions
- Quality of growth−4
- ROIC−3
- Multiples vs own history and peers−3
Strengths
- Buybacks+2
- Construction chemicals and portfolio shift+2
- Diversified base+1
How the score is built
From 100 to 88, 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
- 69.36 EUR
- Median analyst target
- 95.00 EUR
- Upside to median
- +37.0%
- Analysts
- 16
- Target range
- 65.00 – 132.60 EUR
- 52-week change
- −17%
- P/E (trailing)
- 12.9
- Forward P/E
- 10.9
- PEG
- 1.95
Findings
Every deduction and every plus, with its source. Open a step to read them.
Business
Is the company getting stronger, not just bigger? · 3 findings−8 of −30
- −4Quality of growthRevenue has fallen from €51.2bn (2022) to €46.2bn TTM, and EPS from €5.80 to €5.39, even though Saint-Gobain has spent about €10.5bn on acquisitions in 2021–25. Organic growth was only 0.7% in H1 2026 after declines in 2023–25.
- −3ROICROIC has fallen from 12.5% (2022) to 10.0% TTM – only about 2 percentage points above the WACC of 8.1% – while the acquisitions have made the balance sheet goodwill-heavy (P/TBV 5.7 vs P/B 1.3).
- −1MarginEBITDA margin 15.4% in H1 (unchanged), but guidance for 2026 is only 'over 15%' vs 15.5% in 2025; the net margin is 5.8% TTM.
Price
Today's multiples against the company's own history and its peers. · 1 finding−3 of −35
- −3Multiples vs own history and peersForward P/E 10.8 vs 8.2–12.8 in 2021–25 and EV/EBITDA 6.3 vs 5.0–8.3 – in the lower half of the range – but trailing P/E 13.1 (7.9–15.0) is mid-range, and analysts expect an EPS fall of 5.7% in 2026. The low multiple reflects earnings that are not growing.
Cracks
Cash flow, customers, debt, insiders, guidance and what sits behind the headline numbers. · 5 findings−9 of −35
- −3North America and Latin AmericaThe Americas segment has fallen from EUR 13.56bn to 12.46bn in revenue (TTM vs 2024); new construction in North America remains under pressure (only +1.2% organic in Q2), and Latin America fell 1.3% in H1. Roofing depends on the hurricane season.
- −2Asbestos (DBMP)The asbestos liability from CertainTeed was spun off to DBMP in 2019 via a 'Texas two-step' and bankruptcy; the case is still running in 2026 with new court documents in September and a hearing on 5 November 2026, in which the parent company is also a party.
- −2Price/cost and weaker margin guidanceThe price-cost spread was slightly negative in H1, and the company expects only a 'slightly positive' spread for the full year; the 2026 margin guidance is below the 2025 level, which sent the stock down at the annual results.
- −1DebtNet debt has risen from €7.4bn (2023) to €11.5bn (June 2026), and net debt/EBITDA from 1.1 to 1.75 after acquisitions.
- −1CurrencyExchange rates took 1.3% off revenue in H1, and EPS fell 2.6% in local currency.
Plus
Only documented strengths. · 3 findings+5 of +15
- +2BuybacksDividend (€1.12bn) and buybacks (€0.92bn) TTM are below FCF after leasing (about €2.6bn), and the share count has fallen 1.05% over a year; the buyback continues in September 2026.
- +2Construction chemicals and portfolio shiftConstruction chemicals are growing at double digits independently of the construction market, and acquisitions and divestments of EUR 3bn (a third of the 2030 target) have been signed/completed, including Xypex and AGC Polymer Materials.
- +1Diversified baseRevenue is spread across Northern Europe (€13.8bn), Southern Europe/Middle East/Africa (16.2), the Americas (12.5) and Asia-Pacific (5.3) with no customer concentration; organic growth accelerated to 3.5% in Q2 with prices +1.6%.
Caveats
What the score does not capture, or where the data is weak.
Analysts' EPS (EUR 6.70 for 2025, 6.32 expected for 2026) is adjusted/recurring, while reported EPS is EUR 5.39 TTM; forward P/E 10.8 is therefore based on adjusted figures (trailing P/E 13.1). FCF of EUR 3.38bn TTM is before leases; after leases (EUR 0.75bn) about EUR 2.6bn. The share is −23% over 52 weeks and fell from EUR 82.40 after the H1 results to about 70 in September without any company-specific news (interest rates, oil, weak construction sector); price targets (average EUR 97.66) have not been adjusted correspondingly. Semi-annual reporting, so TTM is as of 30/6-2026; Q3 revenue 30/10. Insider trading and credit rating after 2024 (BBB+) have not been investigated.
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