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Lagardere SCA
🇫🇷 MMB.PA · Paris · FR0000130213
Communication Services
EUR 19.22 price at analysis
Scores
Key Metrics
Powered by EODHDP/E (TTM)
13.4
P/E (Price-to-Earnings)Shows how much investors pay for each $1 of profit. We display the TTM P/E (Trailing Twelve Months) which uses actual earnings from the last 4 quarters. This is more reliable than Forward P/E which uses analyst estimates.
Calculation: 19.22 ÷ 1.43 = 13.4
TTM period through: 2025-12-31
Forward P/E (estimated): 8.8
Based on analyst estimates
Reference: Provider P/E (Trailing): 13.4
Net Debt/EBITDA (TTM)
3.0x
Latest quarter: 5.5x
Net Debt / EBITDAA leverage ratio showing how many years of EBITDA (earnings before interest, taxes, depreciation, and amortization) it would take to repay net debt. EBITDA approximates operating cash generation. Lower ratios (e.g., <3x) are generally safer; higher (e.g., >5x) may indicate more financial risk.
TTM through: 2025-12-31
Latest quarter (2025-12-31): 5.5x
The quarterly value can spike when quarterly EBITDA is very low (e.g., one-time charges).
Quick guide: <2x manageable, >4x can be risky (sector-dependent).
ROE
24.2%
ROE (Return on Equity)A profitability measure: how much profit is generated from shareholders’ equity. Higher isn’t always better if it comes from high debt.
EV/EBITDA
5.0x
EV/EBITDAA valuation ratio that compares total business value (including debt) to EBITDA. Lower can mean cheaper, but context matters.
Dividend Summary
Powered by EODHDDividend Yield (Fwd)
3.49%
TTM: 3.47%
Dividend YieldThe Forward yield (Fwd) shows the next announced annual dividend / current price — what you'd earn going forward. The Trailing yield (TTM) in the tooltip shows dividends actually paid in the last 12 months. Forward is shown as primary because it reflects the company's current commitment to shareholders.
Forward Yield (estimated): 3.49%
Trailing Yield (TTM, last 12 months): 3.47%
Payout Ratio (Fwd)
46.9%
TTM: 46.8%
Payout RatioDividends as a percentage of earnings. The Forward payout (Fwd) uses the announced dividend divided by actual past earnings (TTM) — it tells you if the company can afford what it promised. Very high payouts can be risky, especially if profits fall.
Announced dividend / actual earnings (TTM)
Payout (Fwd): 46.9%
Payout (TTM): 46.8%
Cash Flow Payout (TTM): 7.7%
FCF Coverage (TTM): 10.32x
Growth Streak
1 yrs
Consec. increases
Div. Growth (5Y)
-12.8%
Dividend History
EODHD Dividends API| Status | Type | Decl. Date | Ex-Div Date | Pay Date | Currency | Amount |
|---|---|---|---|---|---|---|
| Forecast* | Final | — | 30 Apr 2027 | — | EUR | 0.67 |
| Paid | Interim | 20 Feb 2026 | 06 May 2026 | 08 May 2026 | EUR | 0.67 |
* Extrapolated from past dividend history. Not an official announcement — treat as an estimate, not a confirmed date or amount.
Summary
Lagardère is a global leader in publishing and travel retail, generating robust free cash flow from captive-audience concessions that securely covers its 3.47% dividend yield. The recent headline net loss is a classic temporary problem driven by one-off restructuring, masking a 50% jump in underlying recurring operating profit. Trading at €19.22 (P/E 13.4, P/FFO 2.2), well below fair value estimates of €104-156, it offers substantial upside potential making it worth considering for new positions despite the corporate governance overhang.
Sector Context
Lagardère operates globally as a leader in publishing (Hachette) and travel retail (duty-free and convenience stores in transit hubs). The travel retail segment functions similarly to infrastructure concessions by capturing captive audiences, though it carries strict lease and minimum guarantee obligations, while publishing provides highly stable cash flows subject to regulatory pricing constraints.
Temporary Opportunity Identified
Headline net loss of €20M in H1 2024 driven by one-off restructuring costs and localized retail closures in China, masking a 50.3% increase in recurring operating profitability.
📊 Strategy Analysis
- • Trading at an attractive P/E of 13.44 and an exceptionally low P/FFO of 2.21, representing significant undervaluation relative to the firm's cash generation capabilities.
- • Robust Free Cash Flow (€713M) provides massive dividend coverage (10.3x), confirming the proactive 2024 dividend cut was a prudent strategic reset rather than a sign of financial distress.
- • The recent headline net loss obscures powerful underlying core performance, highlighted by a 10.1% revenue growth and a 50.3% surge in recurring EBIT during H1 2024.
- • Proactive deleveraging trend (Net Debt/EBITDA improved to 3.0x from historical highs of 4.6x) supports balance sheet stabilization.
⚠ What to Watch
- • Significant corporate governance and regulatory overhangs persist, including ongoing judicial supervision of the CEO and unresolved EU antitrust 'gun-jumping' proceedings.
- • Structural reliance on travel retail concessions exposes the company to rigid Minimum Annual Guarantee (MAG) lease squeezes during regional traffic downturns, as seen recently in China.
- • Debt/Equity remains highly elevated at 5.77x, and despite EBITDA growth, Net Debt/EBITDA at 3.0x sits exactly on the maximum threshold for conservative dividend strategies.
📊 Historical Trends (10 Years)
Powered by EODHDThese charts show how key metrics have evolved over the past decade, helping you identify if the company is improving or deteriorating.
Debt Evolution (Net Debt / EBITDA)
Lower values are better. A declining trend indicates the company is reducing its debt (deleveraging).
Revenue & Earnings Growth
Consistent growth in revenueRevenue
The money a company brings in from selling its products or services. It’s the top line before costs. (blue) and earningsEarnings (Profit)
What’s left after expenses. Positive earnings mean the business made a profit; negative means a loss. (green) indicates a healthy business. Look for upward trends and recoveries after temporary dips.
Dividend Sustainability (FCF vs Dividends Paid)
Free cash flowFree Cash Flow
Cash left after the company pays for running the business and maintaining it. Often used to fund dividends, pay debt, or buy back shares. (FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., blue) should cover dividends paidDividends Paid
Cash the company paid out to shareholders. It’s not guaranteed and can change over time. (green). If dividends consistently exceed FCFFCF (Free Cash Flow)
Short for Free Cash Flow: cash left after operating needs and maintenance spending., the dividend may be at risk.
Analysis date: 2026-06-27
Disclaimer: This information is for educational purposes only. Not financial advice.