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Bureau Veritas SA (BVI) Fair Value & Analysis

Industrials · FR · Market cap €12.0B

BV Bureau Veritas SA BVI · PA
Price€28.44
Fair Value€27.81
Upside-2.2%
Quality68/100
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Healthy Growth
Thin margins · 8.8% net margin
Moderate debt · generates free cash flow
3.41% dividend yield
Mixed vs. peers (7/15)
Wide moat 67/100
Evidence: High Range €18.02 – €34.76 Share as image

Fair value as of: Jul 11, 2026

From 26 valuation models · updated 27 days ago

Share price +4.5% over the past month.

A solid business, currently priced close to our fair value.

What matters now

  • The price sits close to our fair value, market and models broadly agree here, little valuation tension.
  • A fairly wide model range (€18.02 to €34.76) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€29.30 €19.35 Fair Value €27.81 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 11, 2026.

How to read this chart

60‑month range €19.35 – €29.30 · fair‑value band €18.02 – €34.76 · the €28.44 price screens above the €27.81 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 11, 2026.

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Analysis

Bureau Veritas SA (BVI) currently trades at €28.44, while our model-based Fair Value estimate is €27.81, implying the stock looks roughly 2.2% fairly valued today. We read business quality at 68/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Bureau Veritas SA generated revenue of €6.7B at a net margin of 8.8%. Revenue grew 1.8% year over year. It earns a return on equity of 32.2%. Net debt stands at €2.1B. Fundamentals as of Jul 11, 2026

Our scenario range runs from €18.02 (bear case) to €34.76 (bull case); at €28.44, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 1% below its 52-week high and 20% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -15% fair-value upside, at -2%, BVI screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF €18.79 €28.65 €42.64 80
Residual Income €7.83 €9.48 €35.94 76
Rev-Margin DCF €16.46 €27.17 €39.32 74
All 26 models by family
DCF Models
FCF DCF €18.38 €29.42 €46.03 38
Owner Earnings €16.38 €26.35 €41.36 31
5Y Revenue Exit €16.46 €27.07 €40.46 39
5Y EBITDA Exit €20.24 €34.08 €50.04 41
5Y P/E Exit €16.39 €26.94 €37.83 38
10Y Revenue Exit €16.41 €26.21 €39.07 36
10Y EBITDA Exit €19.37 €31.05 €46.31 37
10Y P/E Exit €16.92 €26.12 €37.08 35
Earnings-Based
Graham-Dodd €9.00 €26.62 €35.21 54
Lynch FV €5.59 €7.98 €10.38 50
PEG = 1.0 €5.59 €7.98 €10.38 46
EPV €11.51 €13.82 €15.83 59
Dividend Discount
Gordon GGM €8.89 €18.49 €29.32 70
DDM Multi-Stage €8.89 €14.38 €19.40 61
Multiples
P/E Multiple €19.86 €26.48 €33.10 63
P/S Multiple €16.88 €22.51 €28.14 58
P/B Multiple €8.67 €11.56 €14.45 55
EV/EBIT €25.37 €34.59 €43.82 53
EV/EBITDA €24.26 €33.11 €41.96 54
EV/Revenue €16.35 €24.34 €32.34 43
Asset-Based
NCAV (Graham) €1.93 €2.58 €3.85 50
Growth DCF
Growth DCF €18.79 €28.65 €42.64 80
Rev-Margin DCF €16.46 €27.17 €39.32 74
Economic Profit
Residual Income €7.83 €9.48 €35.94 76
ROIC Compounder €12.41 €16.11 €20.29 72
Growth Earnings
Growth-Adj P/E €16.22 €23.17 €30.12 68

Widest divergence: Growth DCF (€27.17) versus Asset-Based (€2.58). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €6.7B
Revenue growth (YoY) +1.8%
Net margin 8.8%
Return on equity 32.2%
Free cash flow €820M FY2025
P/E ratio 20.6
More key figures
Operating margin 18.4%
EPS (TTM) €1.31
Dividend yield 3.4%
EPS growth (YoY) -19.2%
Net debt €2.1B FY2025

Figures from reported company fundamentals · as of Jul 11, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 68/100

Of which business quality 66 · Market factors (momentum, volatility) 64

Profitability 59
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 69
Earnings quality: real cash, not paper profit
Fin. Strength 54
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 50
Price trend over the last 3–12 months (market factor)
52W Momentum 69
Distance to the 52-week high (market factor)
Net Issuance 90
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Bureau Veritas SA provides laboratory testing, inspection, and certification services. It operates through six segments: Marine & Offshore; Agri-Food & Commodities; Industry; Buildings & Infrastructure; Certification; and Consumer Products services.

Full company description

Bureau Veritas SA provides laboratory testing, inspection, and certification services. It operates through six segments: Marine & Offshore; Agri-Food & Commodities; Industry; Buildings & Infrastructure; Certification; and Consumer Products services. The company engages in inspecting, analyzing, auditing, and certifying the products, assets, and management systems of its clients in relation to regulatory or self-imposed standards, as well as issues compliance reports. It also provides technical services, including asset integrity management for marine and offshore; post accident expertise, risk assessment for the offshore industry, marine accident investigations, pre- and post salvage advice, and refloating of vessels; inspection, audit, certification, and testing services for oil and petrochemicals, metals and minerals, and agri commodities; technical control, code compliance, independent technical assistance, quality assurance/quality control, construction management, and project management assistance; laboratory and on-site testing services for manufacturing and process industries; inspection services for products, services, assets, and installations, as well as various services designed to control quality, verify quantity, and meet regulatory requirements; and certification services for management systems, products, and people. The company serves construction and civil engineering, real estate, transportation, oil and gas, marine and offshore, nuclear, defense, automotive, aerospace, IT, electronics, power and utilities, consumer products, and retail industries, as well as financial services and public sectors. It operates in approximately 140 countries through a network of offices and laboratories. Bureau Veritas SA was founded in 1828 and is headquartered in Neuilly-sur-Seine, France.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bureau Veritas SA reported revenue of €6.5B in FY2025 versus €5.0B in FY2021, a compound +6.7%/yr. Reported net income was €588M in FY2025, compounding +8.7%/yr from FY2021.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€6.5B
Latest YoY
+3.6%
Avg. growth/yr (3Y)
+4.6%
Avg. growth/yr (5Y)
+7.0%
Avg. growth/yr (25Y)
+0.6%
Revenue +6.7%/yr
FY21 €5.0B
FY22 €5.7B
FY23 €5.9B
FY24 €6.2B
FY25 €6.5B
Net income +8.7%/yr
FY21 €421M
FY22 €467M
FY23 €504M
FY24 €569M
FY25 €588M

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Cite: Fair Value Calculator (2026). "Bureau Veritas SA Fair Value". https://www.fairvalue-calculator.com/stock/BVI

Recent news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Consulting Services · 83 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 68 · Top 25%
Fair Value upside −2% · Above median
Return on equity (TTM) 32% · Top 25%
Return on assets 9% · Top 25%
Net margin (TTM) 9% · Above median
Operating margin (TTM) 18% · Top 25%
Revenue growth 2% · Below median
Dividend yield (TTM) 3.4% · Above median
Debt / equity 1.40× · Higher than 75% of peers

Valuation Multiples vs Consulting Services median · lower = cheaper

P/E (TTM) 20.6× · Pricier than median
P/B 8.07× · Pricier than 75% of peers
P/S (TTM) 2.07× · Pricier than median
P/FCF 16.8× · Pricier than median
EV/EBITDA 12.1× · Pricier than median
PEG 2.84× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 30 · sector 26
FUTURE 9 · sector 11
PAST 100 · sector 41
HEALTH 30 · sector 89
DIVIDEND 68 · sector 59

Insider activity: 30/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Consulting Services stocks, each showing price versus our Fair Value estimate (as of Jul 11, 2026).

Stock Price Fair Value vs Fair Value
Verisk Analytics, Inc VRSK $201.49 $145.58 -28%
SGS SA SGSN CHF 94.68 CHF 68.96 -27%
Equifax Inc EFX $177.08 $101.34 -43%
ALS Limited ALQ A$21.96 A$11.02 -50%
Booz Allen Hamilton Holding BAH $63.94 $120.62 +89%
DKSH Holding DKSH CHF 67.60 CHF 64.81 -4%
FTI Consulting, Inc FCN $156.86 $171.64 +9%
Centre Testing International Group 300012 ¥14.06 ¥11.90 -15%
GRG Metrology & Test Group 002967 ¥16.56 ¥11.69 -29%
Ipsos SA IPS €34.88 €85.77 +146%

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Frequently asked questions

Is Bureau Veritas SA (BVI) overvalued or undervalued?
As of Jul 11, 2026, our model estimates a fair value of €27.81 versus a price of €28.44, about −2% (fairly valued).
What is the fair value of BVI?
Our model-based fair value for Bureau Veritas SA is €27.81 (as of Jul 11, 2026), built from audited fundamentals. The current price is €28.44.
What is the quality score of BVI?
Bureau Veritas SA has a Quality Score of 68/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Bureau Veritas SA (BVI)?
Bureau Veritas SA reported trailing-twelve-month revenue of about €6.7B (latest available figure, as of Jul 11, 2026).
What is the net profit margin of BVI?
The net profit margin of Bureau Veritas SA is about 8.8%, meaning it keeps roughly 8.8% of revenue as net income. Based on the latest reported figures.
Does Bureau Veritas SA pay a dividend?
Bureau Veritas SA currently shows a dividend yield of about 3.57% relative to its recent price (as of Jul 11, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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