olivLaw · European equity research
Eiffage FGR.PA
France · Euronext Paris · ISIN FR0000130452 · Vertical: Listed companies from France
At the close of 04 Nov 2026, Eiffage (FGR.PA) stock was 104.25 EUR (+1.76% on the day), with market capitalisation 9.9 bn EUR, P/E 9.9 on diluted EPS of 10.53 EUR over the last 12 months, dividend yield 8.12%, beta 0.80, 52-week range 97.42–146.35 EUR.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 59.6
- strong (55–70)
- Bollinger (20, 2)
- 96.66 – 103.43
- above the upper band · %B 1.12 · band width 6.8%
- SMA 50 / 200
- 103.60 / 123.42
- mixed trend
- MACD (12, 26, 9)
- -0.40 / -1.33
- 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 | +3.9% | −1.5% | +5.4 pp | — |
| 3 months | −16.3% | −5.3% | −11.1 pp | — |
| 6 months | −26.9% | +4.7% | −31.6 pp | — |
| Year to date | −14.8% | +6.0% | −20.8 pp | — |
| 1 year | −3.4% | +8.2% | −11.6 pp | −7.0% |
| 3 years | +17.8% | +47.2% | −29.4 pp | −17.3% |
| 5 years | +12.5% | +41.8% | −29.3 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 67 percentile of its own 3-quarter history (min 9.2, median 9.8, max 11.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2021 | 2022 | 2023 |
|---|---|---|---|
| Revenue | 19.2 bn | 20.9 bn | 22.4 bn |
| Revenue YoY | unavailable | +8.7% | +7.2% |
| Net income | 753.0 m | 896.0 m | 1.0 bn |
| Net income YoY | unavailable | +19.0% | +13.1% |
| Diluted EPS | 7.65 | 9.36 | 10.53 |
| Diluted EPS YoY | unavailable | +22.4% | +12.5% |
| net % | 3.9% | 4.3% | 4.5% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2023 · 31 Dec 2023
- Cash
- 4.9 bn EUR
- Financial debt
- 14.1 bn EUR
- Net debt
- 9.1 bn EUR
- Equity
- 7.9 bn EUR
- Total assets
- 37.8 bn EUR
- Debt / equity
- 1.77x
- Current ratio
- 1.00x
- ROE
- 13.2%
- ROA
- 2.7%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 19.2 bn | 20.9 bn | 22.4 bn | esef· 04 Apr 2024verified |
| Operating income | 1.8 bn | 2.2 bn | 2.4 bn | esef· 04 Apr 2024verified |
| Depreciation & amortisation | 1.3 bn | 1.3 bn | 1.4 bn | esef· 04 Apr 2024verified |
| EBITDA | 3.1 bn ≈ | 3.4 bn ≈ | 3.8 bn ≈ | esef· 04 Apr 2024derived |
| Income tax | 436.0 m | 491.0 m | 544.0 m | esef· 04 Apr 2024verified |
| Net income | 753.0 m | 896.0 m | 1.0 bn | esef· 04 Apr 2024verified |
| Diluted EPS | 7.65 | 9.36 | 10.53 | esef· 04 Apr 2024verified |
| Dividend per share | 6.36 | 7.94 | 8.46 | esef· 04 Apr 2024derived |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Cash | 4.8 bn | 4.8 bn | 4.9 bn | esef· 04 Apr 2024verified |
| Receivables | 5.3 bn | 6.1 bn | — | esef· 28 Mar 2023verified |
| Inventories | 873.0 m | 1.0 bn | 969.0 m | esef· 04 Apr 2024verified |
| Current assets | 13.2 bn | 14.1 bn | 14.7 bn | esef· 04 Apr 2024verified |
| Property, plant & equipment, net | 1.7 bn | 1.9 bn | 2.1 bn | esef· 04 Apr 2024verified |
| Goodwill | 3.5 bn | 3.7 bn | 3.8 bn | esef· 04 Apr 2024verified |
| Total assets | 33.7 bn | 36.2 bn | 37.8 bn | esef· 04 Apr 2024verified |
| Accounts payable | 4.2 bn | 4.8 bn | 5.1 bn | esef· 04 Apr 2024verified |
| Short-term debt | 2.2 bn | 2.4 bn | 1.5 bn | esef· 04 Apr 2024verified |
| Long-term debt | 11.8 bn | 11.8 bn | 12.6 bn | esef· 04 Apr 2024verified |
| Current liabilities | 12.6 bn | 14.5 bn | 14.7 bn | esef· 04 Apr 2024verified |
| Equity | 6.6 bn | 7.4 bn | 7.9 bn | esef· 04 Apr 2024verified |
| Shares outstanding at year end | 97.4 m | 94.7 m | 95.1 m | esef· 04 Apr 2024derived |
Cash flow · EUR
| Line | 2021 | 2022 | 2023 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 2.7 bn | 3.0 bn | 3.3 bn | esef· 04 Apr 2024verified |
| Investing cash flow | -910.0 m | -2.3 bn | -967.0 m | esef· 04 Apr 2024verified |
| Financing cash flow | -2.1 bn | -737.0 m | -2.2 bn | esef· 04 Apr 2024verified |
| Dividends paid | 620.0 m | 752.0 m | 805.0 m | esef· 04 Apr 2024verified |
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: 58.3% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 9.9 bn EUR
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
58% · 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: 115.10 – 338.85 EUR.
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/EBITDA151.81 – 338.85 (Mid 217.84)4 companies used · median multiple 7.9x · quartiles 6.3x – 11.0xABEO.PA, AI.PA, ANTIN.PA, ATE.PA
- Peers: P/E115.18 – 315.18 (Mid 178.44)20 companies used · median multiple 16.9x · quartiles 10.9x – 29.9x74SW.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)115.10 – 156.95 (Mid 132.81)
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: 58.3% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 11.6% | 67 (vs peers) | 18% |
| Net margin · Quality | 4.5% | 77 (vs peers) | 11% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 2.4x | 29 (vs peers) | 18% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.0x | 17 (on a fixed band) | 7% |
| P/E (TTM) · Valuation | 9.9x | 78 (vs peers) | 18% |
| EV/EBITDA · Valuation | 5.1x | 80 (vs peers) | 18% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 8.1% | 100 (on a fixed band) | 11% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet25/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality71/100 · 2/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation79/100 · 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
EIFFAGE (FGR.PA). Latest full fiscal year: 2023; data up to 2023-12-31.
Figures computed from the financial statements: revenue 22.4 bn EUR in 2023; YoY growth 7.2%; net margin 4.5%; ROE 16.0%; net debt/EBITDA 2.4x.
The estimated value range is 115.18–315.18 EUR per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 178.44 EUR, the price of 104.25 EUR leaves a potential of 71.2% (value / price − 1) and a margin of safety of 41.6% (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: 58.3% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net margin: 4.5%
- P/E (TTM): 9.9x
- EV/EBITDA: 5.1x
- Shareholder yield (distributions): 8.1%
- The price is below the estimated value range
What contradicts it
- Net debt / EBITDA: 2.4x
- Current ratio: 1.0x
Not assessed (insufficient data or a ratio without meaning): 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 | 107.9 bn | 32.8 | 12.9% | 12.2% | −2.0% | +25% / +30% |
| AC.PAAccor | 13.8 bn | 30.7 | 9.6% | 8.0% | +0.6% | +6% / +55% |
| ADP.PAAeroports De Paris | 11.6 bn | 34.0 | 7.8% | 5.6% | +12.1% | −7% / +4% |
| FGR.PAEiffage | 9.9 bn | 9.9 | 16.0% | 4.5% | +7.2% | −12% / +12% |
| AKE.PAArkema | 7.0 bn | 113.4 | 0.9% | 0.7% | −5.0% | +10% / −38% |
| ALO.PAAlstom | 5.9 bn | 18.6 | 3.1% | 1.7% | +3.7% | −51% / −2% |
| AF.PAAir France - Klm | 3.8 bn | 12.1 | — | 1.0% | +4.8% | +7% / −3% |
| ATE.PAAlten | 3.1 bn | 29.7 | 4.8% | 2.6% | −1.1% | +34% / −28% |
| BB.PASociete Bic | 2.6 bn | 30.8 | 5.0% | 4.1% | −4.8% | +30% / +4% |
| ANTIN.PAAntin Infrastructure Partners | 1.4 bn | 13.1 | 21.9% | 36.6% | −8.1% | −23% / −34% |
| 74SW.PA74software | 806.8 m | 21.2 | 8.9% | 8.5% | +44.8% | −11% / +43% |
| AUB.PAAubay | 671.2 m | 17.9 | 13.6% | 6.3% | +11.3% | +4% / +46% |
| ASY.PAAssystem | 507.8 m | 70.0 | 2.5% | 1.1% | +7.4% | −19% / −18% |
| ATO.PAAtos Se | 503.9 m | — | -23,400.0% | -17.5% | −16.5% | −42% / −94% |
| ARAMI.PAAramis Group | 293.9 m | 14.8 | 10.0% | 0.8% | +6.3% | −34% / −17% |
| ARVEN.PAArverne Group | 246.9 m | — | -14.0% | -115.3% | +27.0% | +20% / −34% |
| BGO.PACompagnie Chargeurs Invest | 184.8 m | — | -8.6% | -5.7% | −2.9% | unavailable / unavailable |
| ALCIS.PACatering International & Services | 148.2 m | 29.0 | 9.3% | 1.9% | +5.8% | +42% / +111% |
| ALCGM.PACegedim | 145.3 m | — | -2.6% | -1.2% | +10.9% | −25% / −49% |
| ALHEX.PAHexaom | 143.3 m | 6.6 | 9.9% | 2.2% | +13.1% | −32% / +7% |
| ATEME.PAAteme | 133.9 m | 140.6 | 2.8% | 1.0% | +2.2% | +69% / +65% |
| ALBON.PACompagnie Lebon | 108.5 m | 16.0 | 4.2% | 8.8% | −17.9% | +3% / +5% |
| ALHYF.PALhyfe | 75.9 m | — | -33.4% | -570.5% | +287.2% | unavailable / unavailable |
| ABEO.PAAbeo | 62.3 m | 7.4 | 6.9% | 3.0% | +12.6% | −11% / −53% |
| ALFER.PASergeferrari Group | 60.6 m | 11.3 | 5.1% | 1.5% | +7.4% | −34% / −28% |
1- and 3-year price returns: for FGR.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 | 64.01 Total return -32% · Per year -32% | 113.03 Total return 17% · Per year 17% | 170.06 Total return 74% · Per year 74% |
| 3 years | 65.54 Total return -17% · Per year -6% | 129.88 Total return 53% · Per year 15% | 214.07 Total return 141% · Per year 34% |
| 5 years | 67.10 Total return -2% · Per year -0% | 149.26 Total return 94% · Per year 14% | 269.48 Total return 226% · Per year 27% |
- Exit P/E± 32.47
- Net margin± 22.73
- Annual revenue growth± 18.19
- Annual dilution± 1.91
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
- Eiffage secures two French hospital contracts worth $154mYahoo Finance — News · 26 Aug 2026 · EN
Annual reports (ESEF)
- Annual report 202304 Apr 2024
- Annual report 202228 Mar 2023
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.