Added to YB: 2026-02-24
Pitch date: 2026-02-20
NEX.PA [neutral]
Nexans S.A.
-1.36%
current return
Author Info
No bio for this author
Company Info
Nexans S.A. manufactures and sells cables in France, Canada, Norway, Germany, and internationally. It operates through PWR-Grid & Connect, PWR-Grid, PWR-Connect, PWR-Transmission, Industry & Solutions, and Other segments.
Market Cap
EUR 5.4B
Pitch Price
EUR 124.60
Price Target
N/A
Dividend
2.30%
EV/EBITDA
8.05
P/E
26.55
EV/Sales
0.73
Sector
Electrical Equipment
Category
value
NEXANS reported earnings. Is market ignoring the good news obscured by 29% miss on 2026 FCF?
NEX.PA (earnings): FY25 EBITDA €728M +27% YoY at 11.9% margin (record); FCF €344M vs €177M '24; 21.3% ROCE (+330bps); net debt cut to €266M (0.36x lev); €16B backlog (2.6x rev). 2026 FCF guide €260M vs €366M expect (-29%) due to subsea project phasing, not deterioration. Trades 9.3x fwd EV/EBITDA despite oligopoly, barriers, energy transition tailwind
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