Added to YB: 2026-09-16
Pitch date: 2026-09-13
FDJU.PA [neutral]
FDJ United
-0.63%
current return
Author Info
No bio for this author
Company Info
FDJ United engages in the gambling operation and distribution business in France and internationally.
Market Cap
EUR 4.1B
Pitch Price
EUR 22.33
Price Target
N/A
Dividend
9.45%
EV/EBITDA
5.57
P/E
171.53
EV/Sales
1.64
Sector
Hotels, Restaurants and Leisure
Category
value
FDJ: Did the sanction go too far?
FDJU.PA (overview): FDJ United’s value still rests on its French lottery and retail-betting monopoly through 2044, which was projected to generate €913M of current EBITDA on €2.54B of 2025 revenue — more profit than the whole group. At roughly €22 in September 2026, the shares have delivered only ~4.3% annualized including dividends since the IPO. Online lottery migration offers potential margin improvement, while the business faces jackpot volatility, network erosion, heavy taxation and expanded lower-margin competitive exposure following Kindred.
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