olivLaw · European equity research
VusionGroup VU.PA
France · Euronext Paris · ISIN FR0010282822 · Vertical: Listed companies from France
VusionGroup develops electronic shelf labels and digital solutions for retailers worldwide. The company operates in a market where store modernisation and price competition from Asia shape its strategic direction today.
At the close of 05 Nov 2026, VusionGroup (VU.PA) stock was 136.70 EUR (−5.33% on the day), with market capitalisation 2.2 bn EUR, P/E 17.0 on diluted EPS of 8.02 EUR over the last 12 months, dividend yield 0.44%, beta 0.57, 52-week range 101.20–216.40 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 59.2
- strong (55–70)
- Bollinger (20, 2)
- 114.42 – 142.01
- in the upper half of the band · %B 0.81 · band width 21.5%
- SMA 50 / 200
- 125.52 / 124.74
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 3.85 / 2.20
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +7.2% | −0.6% | +7.9 pp | — |
| 3 months | +8.2% | −4.2% | +12.4 pp | — |
| 6 months | +14.9% | +4.3% | +10.5 pp | — |
| Year to date | −33.1% | +7.5% | −40.6 pp | — |
| 1 year | −37.4% | +9.9% | −47.3 pp | −6.8% |
| 3 years | +29.0% | +49.8% | −20.9 pp | −15.9% |
| 5 years | +120.8% | +42.8% | +78.0 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 2-quarter history (min 25.5, median 28.0, max 30.4; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 802.0 m | 954.7 m | 1.5 bn |
| Revenue YoY | unavailable | +19.0% | +54.2% |
| Net income | 79.8 m | -27.8 m | 143.3 m |
| Net income YoY | unavailable | −134.8% | unavailable |
| Diluted EPS | 4.46 | -1.73 | 8.02 |
| Diluted EPS YoY | unavailable | −138.8% | unavailable |
| net % | 9.9% | -2.9% | 9.7% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 353.0 m EUR
- Financial debt
- 41.8 m EUR
- Net debt
- -311.2 m EUR
- Equity
- 442.6 m EUR
- Total assets
- 1.6 bn EUR
- Debt / equity
- 0.09x
- Current ratio
- 1.00x
- ROE
- 41.8%
- ROA
- 8.9%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 802.0 m | 954.7 m | 1.5 bn | esef· 29 Apr 2026verified |
| Operating income | 51.5 m | 23.3 m | 109.1 m | esef· 29 Apr 2026verified |
| Depreciation & amortisation | 36.5 m | 57.5 m | 84.4 m | esef· 29 Apr 2026verified |
| EBITDA | 88.0 m ≈ | 80.8 m ≈ | 193.5 m ≈ | esef· 29 Apr 2026derived |
| Income tax | 14.9 m | 2.2 m | 54.4 m | esef· 29 Apr 2026verified |
| Net income | 79.8 m | -27.8 m | 143.3 m | esef· 29 Apr 2026verified |
| Diluted EPS | 4.46 | -1.73 | 8.02 | esef· 29 Apr 2026verified |
| Dividend per share | 0.00 | 0.30 | 0.60 | esef· 29 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 199.9 m | 535.6 m | 353.0 m | esef· 29 Apr 2026verified |
| Inventories | 125.0 m | 147.4 m | 169.9 m | esef· 29 Apr 2026verified |
| Current assets | 675.2 m | 1.2 bn | 1.0 bn | esef· 29 Apr 2026verified |
| Property, plant & equipment, net | 36.2 m | 144.3 m | 203.5 m | esef· 29 Apr 2026verified |
| Total assets | 1.1 bn | 1.7 bn | 1.6 bn | esef· 29 Apr 2026verified |
| Long-term debt | 172.7 m | 142.9 m | 41.8 m | esef· 29 Apr 2026verified |
| Current liabilities | 553.4 m | 1.2 bn | 1.0 bn | esef· 29 Apr 2026verified |
| Equity | 276.9 m | 244.0 m | 442.6 m | esef· 29 Apr 2026verified |
| Shares outstanding at year end | 15.9 m | 16.0 m | 16.4 m | esef· 29 Apr 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 47.9% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 2.2 bn EUR
Key indicators
Coverage and freshness
Score by group
48% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 88.95 – 239.00 EUR.
Methods computed but outside the aggregate range: Dividend discount (DDM) (a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate).
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDA91.81 – 148.17 (Mid 111.41)4 companies used · median multiple 7.9x · quartiles 6.2x – 11.0xABEO.PA, AI.PA, ANTIN.PA, ATE.PA
- Peers: P/E88.95 – 239.00 (Mid 137.39)20 companies used · median multiple 17.1x · quartiles 11.1x – 29.8x74SW.PA, ABEO.PA, AC.PA, ADP.PA, AF.PA, AI.PA, ALBON.PA, ALCIS.PA, ALCLA.PA, ALFER.PA, ALHEX.PA, ALO.PA, ALPWG.PA, ALSOG.PA, ANTIN.PA, ARAMI.PA, ATE.PA, AUB.PA, AURE.PA, BB.PA
- Dividend discount (DDM)outside the aggregate8.16 – 11.13 (Mid 9.42)a small share of earnings is paid as dividends (capital returns through buybacks): the dividend model does not describe the value and stays outside the aggregate
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 47.9% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 9.7% | 90 (vs peers) | 13% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | -1.6x | 71 (vs peers) | 22% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.0x | 17 (on a fixed band) | 9% |
| P/E (TTM) · Valuation | 17.0x | 57 (vs peers) | 22% |
| EV/EBITDA · Valuation | 10.0x | 20 (vs peers) | 22% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 0.4% | 6 (on a fixed band) | 13% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet56/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial90/100 · 1/3 factors with a value
- Returns· partial6/100 · 1/2 factors with a value
- Valuation38/100 · 2/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
VUSIONGROUP (VU.PA). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 1.5 bn EUR in 2025; YoY growth 54.2%; net margin 9.7%; ROE 41.1%; net debt/EBITDA -1.6x.
The estimated value range is 90.38–193.59 EUR per share (median of 2 methods, agreement: same basis (multiples on one peer group, not independent confirmations)); assumptions are illustrative. Against the central value of 124.40 EUR, the price of 136.70 EUR leaves a potential of -9.0% (value / price − 1) and a margin of safety of -9.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 47.9% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 9.7%
- Net debt / EBITDA: -1.6x
What contradicts it
- Current ratio: 1.0x
- EV/EBITDA: 10.0x
- Shareholder yield (distributions): 0.4%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Interest coverage, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from France · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AI.PAL'air Liquide Societe Anonyme Pour L'etude Et L'exploitation Des Procedes Georges Claude | 109.3 bn | 33.2 | 12.9% | 12.2% | −2.0% | +26% / +32% |
| AC.PAAccor | 13.8 bn | 30.7 | 9.6% | 8.0% | +0.6% | +6% / +56% |
| ADP.PAAeroports De Paris | 11.7 bn | 34.1 | 7.8% | 5.6% | +12.1% | −7% / +4% |
| AKE.PAArkema | 7.1 bn | 115.4 | 0.9% | 0.7% | −5.0% | +12% / −37% |
| ALO.PAAlstom | 5.8 bn | 18.3 | 3.1% | 1.7% | +3.7% | −51% / −4% |
| AF.PAAir France - Klm | 4.3 bn | 13.6 | — | 1.0% | +4.8% | +20% / +9% |
| ATE.PAAlten | 3.1 bn | 29.5 | 4.8% | 2.6% | −1.1% | +33% / −29% |
| BB.PASociete Bic | 2.7 bn | 31.3 | 5.0% | 4.1% | −4.8% | +32% / +5% |
| VU.PAVusiongroup | 2.2 bn | 17.0 | 41.1% | 9.7% | +54.2% | −35% / +32% |
| ANTIN.PAAntin Infrastructure Partners | 1.4 bn | 13.0 | 21.9% | 36.6% | −8.1% | −24% / −35% |
| 74SW.PA74software | 792.7 m | 20.9 | 8.9% | 8.5% | +44.8% | −13% / +41% |
| AUB.PAAubay | 667.4 m | 17.8 | 13.6% | 6.3% | +11.3% | +3% / +45% |
| ASY.PAAssystem | 507.1 m | 69.9 | 2.5% | 1.1% | +7.4% | −19% / −18% |
| ATO.PAAtos Se | 483.0 m | — | -23,400.0% | -17.5% | −16.5% | −45% / −94% |
| ARAMI.PAAramis Group | 298.8 m | 15.0 | 10.0% | 0.8% | +6.3% | −33% / −16% |
| ARVEN.PAArverne Group | 246.1 m | — | -14.0% | -115.3% | +27.0% | +20% / −35% |
| BGO.PACompagnie Chargeurs Invest | 189.4 m | — | -8.6% | -5.7% | −2.9% | unavailable / unavailable |
| ALCIS.PACatering International & Services | 145.0 m | 28.4 | 9.3% | 1.9% | +5.8% | +39% / +107% |
| ALCGM.PACegedim | 144.6 m | — | -2.6% | -1.2% | +10.9% | −26% / −49% |
| ATEME.PAAteme | 144.0 m | 151.3 | 2.8% | 1.0% | +2.2% | +82% / +77% |
| ALHEX.PAHexaom | 144.0 m | 6.7 | 9.9% | 2.2% | +13.1% | −32% / +7% |
| ALBON.PACompagnie Lebon | 111.7 m | 16.5 | 4.2% | 8.8% | −17.9% | +6% / +8% |
| ALHYF.PALhyfe | 75.8 m | — | -33.4% | -570.5% | +287.2% | unavailable / unavailable |
| ALFER.PASergeferrari Group | 61.5 m | 11.5 | 5.1% | 1.5% | +7.4% | −33% / −27% |
| ABEO.PAAbeo | 60.8 m | 7.3 | 6.9% | 3.0% | +12.6% | −13% / −54% |
1- and 3-year price returns: for VU.PA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 97.13 Total return -29% · Per year -29% | 170.93 Total return 26% · Per year 26% | 256.39 Total return 88% · Per year 88% |
| 3 years | 115.21 Total return -14% · Per year -5% | 226.05 Total return 67% · Per year 19% | 369.20 Total return 172% · Per year 40% |
| 5 years | 136.65 Total return 2% · Per year 0% | 298.95 Total return 122% · Per year 17% | 531.65 Total return 294% · Per year 32% |
- Exit P/E± 56.51
- Net margin± 39.56
- Annual revenue growth± 29.50
- Annual dilution± 3.32
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
VusionGroup develops electronic shelf labels and digital solutions for retailers worldwide. The company operates in a market where store modernisation and price competition from Asia shape its strategic direction today.
SWOT
Strengths
- Leading position in electronic labelling and a research and development strategy supported by significant investment 1.
- Global presence with research centres in several regions and a network of sub-contractors in China 1.
- Combination of hardware, software and services that could improve margins over the longer term 1.
Weaknesses
Opportunities
Risks
- Price competitionhigh
Aggressively priced competitors from Asia could reduce sales and profitability 1.
- Geopolitical operational disruptionhigh
Major external disruptions could interrupt operations for prolonged periods 1.
- Slowdown in customer demandmedium
If the economy deteriorates, customers could reduce or defer investments in the group's solutions 1.
- Dependence on major customersmedium
An unfavourable change in relations with certain major customers could affect the financial position 1.
- Cyber risksmedium
Attacks on IT systems and data can generate costs and reputational damage 1.
Investment thesis
What would need to be true (bull case)
- If store digitalisation continues and software and service revenues grow in weight, group margins could support higher results.
- Regional rebalancing towards America and contracts with large retailers could reduce dependence on a single economic zone.
- Investment in research and development and intellectual property protection could strengthen technological leadership.
What would break the thesis
- Competitive pressure from Asia could force price cuts and erode hardware margins.
- If the global economy slows, distributors could postpone transformation programmes, affecting demand.
- Reliance on outsourced logistics chains and geopolitical tensions could delay deliveries and raise costs.
What to watch
- Trend in hardware gross margin and in software and services revenuenext 10-K
- Pace of customer adoption of Computer Vision and Data Analytics solutions2027
- Americas results and continuation of contracts with large retailersQ1 2027
- Effects of trade restrictions on the supply chain2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
VusionGroup is a group that designs and sells electronic shelf labels, together with associated software and services for stores. Its activity relies on research and development teams in Europe, America and Taiwan, as well as sub-contractors in China 1.
Segments
Electronic labels and hardware
The group's historic activity is electronic shelf labelling, where margins are improved through revenues from associated software and services 1.
Software and services
Computer Vision, Data Analytics and industrial solutions are increasingly important for the group's growth plan and contribute strongly to operating margin 1.
Market context
The market depends on distributors' investment in modernising and digitalising stores. The company has expanded in the Americas, where it considered penetration of IoT solutions still very low 1.
Trends
- Store digitalisationtailwind
Demand for electronic labels and digital services depends on distributors' transformation programmes, which could support medium-term growth 1.
- Economic slowdownheadwind
If consumption or distributor margins deteriorate, customers could postpone investments in the group's solutions 1.
- Geopolitical and trade tensionsmixed
Trade restrictions and disruptions to international logistics chains can affect deliveries, although the group has diversified routes and suppliers 1.
- Decarbonisation and sustainability requirementsmixed
Decarbonisation requirements may create opportunities for digital solutions, but they can also weigh on costs and competitiveness 1.
Competitive position
The group faces intense price competition from international players, especially in Asia, who pursue market share through very competitive prices. Consolidation among assemblers and component suppliers could further change pricing pressure 1.
- International players from Asia
Competitors practising very competitive hardware pricing and seeking market share, as described in the risk factors of the source document 1.
- Industrial assemblers and component suppliers
A consolidation process in this category could reshape the competitive landscape of electronic labelling 1.
- Digital retail solution providers
Providers of data analytics and store services may compete for the same digitalisation budgets 1.
- Display technology producers
The group works with key value-chain partners, but disruptive technologies could reshape existing offerings 1.
News & filings
In the press
- Vusion Explores Strategic Options, Including Possible SaleBloomberg Markets · 05 Aug 2026 · EN
Annual reports (ESEF)
- Annual report 202529 Apr 2026
- Annual report 202407 May 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / VusionGroup · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.