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Bouygues SA (EN) Fair Value & Analysis

Industrials · FR · Market cap €18.3B

BS Bouygues SA EN · PA
Price€49.19
Fair Value€65.67
Upside+33.5%
Quality55/100
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Healthy Growth
Thin margins · 2.1% net margin
Moderate debt · generates free cash flow
4.48% dividend yield
Mixed vs. peers (7/15)
Narrow moat 33/100
Evidence: High Range €49.25 – €82.09 Share as image

Fair value as of: Jul 16, 2026

From 25 valuation models · updated 22 days ago

Fair value updated Jul 16, 2026, revised from €65.73 to €65.67 (−0.1%) since Jul 15, 2026. Share price +4.8% over the past month.

A solid business, screening 34% undervalued on our models.

What matters now

  • Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
  • Our model range runs from €49.25 (bear) to €82.09 (bull), base €65.67. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 55/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

€53.00 €21.26 Fair Value €65.67 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 2026.

How to read this chart

60‑month range €21.26 – €53.00 · fair‑value band €49.25 – €82.09 · the €49.19 price screens below the €65.67 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 16, 2026.

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Analysis

Bouygues SA (EN) currently trades at €49.19, while our model-based Fair Value estimate is €65.67, implying the stock looks roughly 33.5% undervalued today. We read business quality at 55/100 (solid quality), in the Industrials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Bouygues SA generated revenue of €56.5B at a net margin of 2.1%. Revenue declined 3.2% year over year. It earns a return on equity of 9.1%. Net debt stands at €10.5B. Fundamentals as of Jul 16, 2026

Our scenario range runs from €49.25 (bear case) to €82.09 (bull case); at €49.19, the current price sits below 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 8% below its 52-week high and 45% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -45% fair-value upside, at 34%, EN 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 €69.52 €100.11 €142.04 80
Residual Income €29.28 €32.10 €42.50 76
Rev-Margin DCF €56.93 €88.47 €122.60 74
All 25 models by family
DCF Models
FCF DCF €67.45 €100.49 €147.85 38
Owner Earnings €45.03 €67.93 €100.76 31
5Y Revenue Exit €56.93 €87.63 €125.29 39
5Y EBITDA Exit €101.00 €166.31 €239.77 41
5Y P/E Exit €47.07 €70.02 €92.68 38
10Y Revenue Exit €58.45 €86.67 €121.42 36
10Y EBITDA Exit €87.78 €139.96 €205.13 37
10Y P/E Exit €54.02 €74.74 €97.57 35
Earnings-Based
Graham-Dodd €21.27 €51.13 €66.00 54
PEG = 1.0 €9.00 €12.85 €16.71 46
EPV €43.28 €51.43 €58.56 59
Dividend Discount
Gordon GGM €17.96 €31.87 €49.57 70
DDM Multi-Stage €17.96 €26.82 €36.53 61
Multiples
P/E Multiple €46.91 €62.55 €78.18 63
P/S Multiple €39.87 €53.16 €66.45 58
P/B Multiple €39.87 €53.16 €66.45 55
EV/EBIT €83.77 €113.56 €143.35 53
EV/EBITDA €137.74 €185.52 €233.29 54
EV/Revenue €54.64 €80.46 €106.28 43
Asset-Based
NCAV (Graham) €16.89 €22.63 €33.78 50
Growth DCF
Growth DCF €69.52 €100.11 €142.04 80
Rev-Margin DCF €56.93 €88.47 €122.60 74
Economic Profit
Residual Income €29.28 €32.10 €42.50 76
ROIC Compounder €44.66 €56.44 €69.93 72
Growth Earnings
Growth-Adj P/E €35.87 €51.24 €66.61 68

Widest divergence: Growth DCF (€88.47) versus Asset-Based (€22.63). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) €56.5B
Revenue growth (YoY) -3.2%
Net margin 2.1%
Return on equity 9.1%
Free cash flow €2.6B FY2025
P/E ratio 15.0
More key figures
Operating margin 0.3%
EPS (TTM) €3.16
Dividend yield 4.5%
EPS growth (YoY) +22.1%
Net debt €10.5B FY2025

Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 55/100

Of which business quality 46 · Market factors (momentum, volatility) 70

Profitability 32
Margins and returns on capital today
Quality Growth 26
Are margins and returns improving?
Cashflow 50
Earnings quality: real cash, not paper profit
Fin. Strength 31
Balance sheet, leverage, solvency risk
Investment 89
Disciplined investing over empire-building
Low Volatility 84
Calm price path (market factor)
Momentum 56
Price trend over the last 3–12 months (market factor)
52W Momentum 77
Distance to the 52-week high (market factor)
Net Issuance 72
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

Bouygues SA, together with its subsidiaries, operates in the construction, energies and services, telecom, and media sectors in France and internationally. It operates through Colas, Bouygues Construction, Bouygues Immobilier, Equans, Bouygues Telecom, TF1, and Other segments.

Full company description

Bouygues SA, together with its subsidiaries, operates in the construction, energies and services, telecom, and media sectors in France and internationally. It operates through Colas, Bouygues Construction, Bouygues Immobilier, Equans, Bouygues Telecom, TF1, and Other segments. The company engages in the construction and maintenance of roads; production, distribution, sale, and recycling of aggregates, emulsions, asphalt mixes, ready-mix concrete, and bitumen; design, construction, upgrade, and maintenance of rail networks; design, construction, refurbishment, and renovation of buildings, as well as property development and consulting; public works, which include civil engineering, bridges, nuclear power station, tunnels and underground structures, prestressing, and stay cable systems; and concession activities. It is also involved in property development of housing, offices, and hotels; urban operations; design, building, management, and decarbonization of electrical installations; mechanical and robotics; HVAC; cooling and fire protection; facility management solutions, including technical services for installations; and digital technology and ICT services. In addition, the company engages in the roll out, maintenance, and management of mobile and fixed networks; B2C and B2B services; production, editing, and broadcasting of televisual content; music production and live events; and creation and distribution of programmes for TV channels and digital platforms. Further, it operates unencrypted television channels comprising TF1, TMC, TFX, TF1 Séries Films, and LCI; theme television channels consisting of Ushuaia TV, Histoire TV, TV Breizh, and Série Club; TF1+, a free streaming platform for family entertainment and news; TFOU MAX, an on-demand platform; and TF1 PUB, an advertising sales unit. The company exports its products. Bouygues SA was founded in 1952 and is headquartered in Paris, France.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Bouygues SA reported revenue of €56.9B in FY2025 versus €37.6B in FY2021, a compound +10.9%/yr. Reported net income was €1.2B in FY2025, compounding +1.8%/yr from FY2021.

Growth Quality 77/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€56.9B
Latest YoY
+0.2%
Avg. growth/yr (3Y)
+8.7%
Avg. growth/yr (5Y)
+10.3%
Avg. growth/yr (23Y)
+4.2%
Revenue +10.9%/yr
FY21 €37.6B
FY22 €44.3B
FY23 €56.1B
FY24 €56.8B
FY25 €56.9B
Net income +1.8%/yr
FY21 €1.1B
FY22 €973M
FY23 €1.0B
FY24 €1.1B
FY25 €1.2B

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Cite: Fair Value Calculator (2026). "Bouygues SA Fair Value". https://www.fairvalue-calculator.com/stock/EN

Recent news

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

Peer Group

Engineering & Construction · 831 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 55 · Above median
Fair Value upside +34% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 2% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 0% · Below median
Revenue growth -3% · Below median
Dividend yield (TTM) 4.5% · Top 25%
Debt / equity 0.74× · Higher than 75% of peers

Valuation Multiples vs Engineering & Construction median · lower = cheaper

P/E (TTM) 15.0× · Cheaper than median
P/B 1.61× · Pricier than median
P/S (TTM) 0.37× · Cheaper than median
P/FCF 8.0× · Pricier than median
EV/EBITDA 5.0× · Cheaper than median
PEG 2.00× · Pricier than median

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 78 · sector 17
FUTURE 0 · sector 17
PAST 36 · sector 26
HEALTH 63 · sector 94
DIVIDEND 90 · sector 33

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 Engineering & Construction stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).

Stock Price Fair Value vs Fair Value
Larsen & Toubro Limited LT ₹3,815 ₹1,994 -48%
Samsung C&T Corporation 028260 346,000 KRW 268,779 KRW -22%
Hyundai Engineering & Construction Co 000720 99,000 KRW 63,993 KRW -35%
United Integrated Services Co 2404 1,250 TWD 925.62 TWD -26%
Samsung E&A Co 028050 42,550 KRW 44,840 KRW +5%
Rail Vikas Nigam Limited RVNL ₹232.67 ₹61.46 -74%
Daewoo Engineering & Construction Co 047040 16,240 KRW 6,507 KRW -60%
NBCC (India) Limited NBCC ₹102.36 ₹48.22 -53%
Cemindia Projects Limited CEMPRO ₹1,330 ₹730.69 -45%
KEPCO Engineering & Construction Company 052690 92,700 KRW 20,172 KRW -78%

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Frequently asked questions

Is Bouygues SA (EN) overvalued or undervalued?
As of Jul 16, 2026, our model estimates a fair value of €65.67 versus a price of €49.19, about +34% (undervalued).
What is the fair value of EN?
Our model-based fair value for Bouygues SA is €65.67 (as of Jul 16, 2026), built from audited fundamentals. The current price is €49.19.
What is the quality score of EN?
Bouygues SA has a Quality Score of 55/100. 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 Bouygues SA (EN)?
Bouygues SA reported trailing-twelve-month revenue of about €56.5B (latest available figure, as of Jul 16, 2026).
What is the net profit margin of EN?
The net profit margin of Bouygues SA is about 2.1%, meaning it keeps roughly 2.1% of revenue as net income. Based on the latest reported figures.
Does Bouygues SA pay a dividend?
Bouygues SA currently shows a dividend yield of about 4.19% relative to its recent price (as of Jul 16, 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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