Added to YB: 2026-09-24
Pitch date: 2026-09-18
VIV.PA [bullish]
Vivendi SE
-1.73%
current return
Author Info
No bio for this author
Company Info
Vivendi SE operates in the content, media, and entertainment industries in Europe, North America, Asia Pacific, Latin America, the Middle East, and Africa.
Market Cap
EUR 1.5B
Pitch Price
EUR 1.50
Price Target
2.03 (+37%)
Dividend
2.68%
EV/EBITDA
39.28
P/E
93.21
EV/Sales
10.28
Sector
Entertainment
Category
value
Vivendi: A Double Discount on Universal Music Group
VIV.PA: Vivendi offers a double discount: at €1.46, it trades 53% below estimated NAV of €3.12, while UMG — 82% of NAV — trades near post-IPO valuation lows at 13.7x 2025 adjusted earnings. Narrowing Vivendi’s discount to 35% implies €2.03, or 39% upside, without a UMG recovery or takeover. The key risks are structurally weaker UMG cash generation, persistent Bolloré-related governance discounts and refinancing or legal liabilities.
Read full article (14 min)