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Bureau Veritas SA BVI

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Stock XPAR Rating as of
€26.57 −0.03 (0.11%)
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Wide-Moat Testing Firm Bureau Veritas Strongly Positioned to Benefit From AI Tailwinds

Ben Slupecki

Bureau Veritas is the second-largest testing, inspection, and certification firm, with global offerings spanning consumer products, marine, and offshore services. The industry is highly fragmented, with only four global players and a slew of regional and local players. This gives large players such as Bureau Veritas an advantage, especially with multinational clients. Bureau Veritas’s portfolio of over 1,000 government accreditations, authorizations, and certifications is another advantage, providing a significant barrier to entry. Compared with its peers, the company focuses more on capital-light inspection and certification services.

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Price vs Fair Value

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BVI is trading at a LOCK|dc!NC premium.
Price
€26.60
Fair Value
LOCK|.m
Uncertainty
LOCK|m&^LB
1-Star Price
LOCK|.&>s
5-Star Price
LOCK|.%b
Economic Moat
LOCK|H$!
Capital Allocation
LOCK|RD%>&dF

Bulls Say, Bears Say

Bulls

Bureau Veritas is in a strong position to benefit from structural growth trends in the TIC market, including more regulation, greater demand for sustainability, and increased outsourcing.

Bears

Greater competition for bolt-on acquisitions makes growth via acquisitions more difficult and expensive.

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Trading Information

Previous Close Price
€26.60
Day Range
€26.42–26.77
52-Week Range
€24.58–30.18
Bid/Ask
€26.40 / €26.98
Shares Outstanding
443.90M
Market Cap
€11.79B
Volume/Avg
932,162 / 900,414

Key Statistics

Price/Earnings (Normalized)
20.54
Price/Sales
1.82
Dividend Yield (Trailing)
3.46%
Dividend Yield (Forward)
3.46%
Dividend Payment Schedule
May
Total Yield
3.46%

Company Profile

Bureau Veritas is a testing, inspection, and certification company. Its primary activities include testing products and materials, inspecting sites and equipment, and certifying products and systems to maintain global standards. Bureau Veritas is one of a handful of companies in the TIC sector that operate globally across numerous industries, including marine, industry, commodities, construction, and consumer products. Bureau Veritas was listed in 2007; it was previously privately owned by the Wendel Group, which retains a significant holding.
Sector
Industrials
Industry
Consulting Services
Stock Style Box
Mid Core
Total Number of Employees
750
Website
https://group.bureauveritas.com

Competitors

Valuation

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Metric
BVI
SGSN
ITRK
Price/Earnings (Normalized)
 20.5425.5525.35
Price/Book Value
 7.1218.448.50
Price/Sales
 1.822.552.59
Price/Cash Flow
 12.2415.4515.26
Price/Earnings
BVI
SGSN
ITRK

Financial Strength

Metric
BVI
SGSN
ITRK
Quick Ratio
 1.100.931.08
Current Ratio
 1.290.951.10
Interest Coverage
 8.1911.639.08
Quick Ratio
BVI
SGSN
ITRK

Profitability

Metric
BVI
SGSN
ITRK
Return on Assets (Normalized)
 9.35%9.61%11.07%
Return on Equity (Normalized)
 40.08%88.73%38.17%
Return on Invested Capital (Normalized)
 15.36%13.55%16.24%
Return on Assets
BVI
SGSN
ITRK

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—LOCK|H^R$13B
 Bureau Veritas SA ADR
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—LOCK|nk$13B
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