Veolia Environnement VE SA (VIE) Fair Value & Analysis
Industrials · FR · Market cap €27.5B · ISIN FR0000124141
What is Veolia Environnement VE SA really worth?
Below-average quality, and trading another 37% above our fair value of €23.26.
Risks
For context
Fair value as of: Sep 1, 2026
From 25 valuation models · updated 4 days ago
Share price −9.6% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Weak quality (41/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide (€14.96 to €41.70). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 1, 2026.
How to read this chart
60‑month range €16.13 – €37.52 · fair‑value band €14.96 – €41.70 · the €31.90 price screens above the €23.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 1, 2026.
Analysis
Veolia Environnement VE SA (VIE) currently trades at €31.90, while our model-based Fair Value estimate is €23.26, implying the stock looks roughly 37.1% overvalued today. The Quality Score stands at 41/100 (below-average quality), in the Industrials sector. Bull case: the Multiples group reads highest at a median of €29.91 per share, and 7 of the 25 models we run sit above the €31.90 price. Bear case: the Asset-Based group reads lowest at €6.43, and 18 of the 25 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Veolia Environnement VE SA generated revenue of €44.4B at a net margin of 2.7%. Revenue declined 0.4% year over year. It earns a return on equity of 12.2%. Net debt stands at €12.2B. Fundamentals as of Sep 1, 2026
Our scenario range runs from €14.96 (bear case) to €41.70 (bull case); at €31.90, 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 10% below its 52-week high and 21% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −35% fair-value upside, at −27%, VIE screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly €0.1359 per share, which is 0.6 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 25 models by family
Widest divergence: Multiples (€29.91) versus Asset-Based (€6.43). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Sep 1, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 41 · Market factors (momentum, volatility) 57
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Veolia Environnement SA designs and provides water, waste, and energy management solutions. It operates through France and Hazardous Waste Europe; Europe; Americas, Asia Pacific, Africa Middle-East; Water Technologies; and Other segments.
Full company description
Veolia Environnement SA designs and provides water, waste, and energy management solutions. It operates through France and Hazardous Waste Europe; Europe; Americas, Asia Pacific, Africa Middle-East; Water Technologies; and Other segments. The company is involved in resource management; production, treatment, distribution, and delivery of drinking and industrial process water; customer relationship management; collection, treatment, and recycling of wastewater; provision of organic matter, salts, metals, complex molecules, and energy; design and construction of water treatment and network infrastructure; and sale of water treatment equipment, technologies, and facilities. It also provides waste collection, product and waste material recovery, and waste-to-energy processing, including sale of recycled products; material recovery of organic waste; dismantling and remediation; hazardous waste processing and treatment; urban cleaning; and industrial maintenance and cleaning services. In addition, the company engages in the operation and maintenance of heating and cooling networks; optimization of industrial utilities, such as steam generation, cooling, electricity, and compressed air; installation and maintenance of production equipment; development of energy services to reduce energy consumption and CO2 emissions of buildings; integrated services for building management; production of electricity from renewable and alternative energy sources, including geothermy, biomass, co-generation, and wastewater plants, etc.; and provision of Hubgrade, a management platform for building and infrastructure energy efficiency monitoring, as well as thermal and multi-technical services. It serves industrial and service sector companies, public authorities, and individuals. The company was formerly known as Vivendi Environnement and changed its name to Veolia Environnement SA in January 2003. Veolia Environnement SA was founded in 1853 and is headquartered in Aubervilliers, France.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Veolia Environnement VE SA reported revenue of €44.4B in FY2025 versus €28.5B in FY2021, a compound +11.7%/yr. Reported net income was €1.2B in FY2025, compounding +31.7%/yr from FY2021.
of which total revenue +7.0 % · buybacks/dilution −3.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
VIE screens 37% overvalued. Compare with Waste Management, Inc →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Saudi Arabia: Veolia Signs Three Strategic Agreements To Accelerate the Kingdom's Environmental Security
- Greener Game, Bigger Impact: Veolia Brings Sustainability Leadership to Pickleball Tournaments in North Carolina and Arizona with Profession
- Veolia Successfully Issues 1.15 Bn EUR on the Bond Market
- Veolia Environnement (ENXTPA:VIE), What Is Drawing Fresh Attention Now?
Peer Group
Waste Management · 165 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.
Valuation Multiples vs Waste Management median · lower = cheaper
Strength profile in five axes (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 0: the price sits above our fair-value range.
Insider activity: 30/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Waste Management stocks, each showing price versus our Fair Value estimate (as of Sep 1, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Waste Management, Inc WM | $217.76 | $128.02 | −41% |
| Republic Services, Inc RSG | $220.92 | $120.63 | −45% |
| Waste Connections, Inc WCN | C$230.52 | C$78.67 | −66% |
| Clean Harbors, Inc CLH | $311.81 | $154.01 | −51% |
| GFL Environmental Inc GFL | C$57.62 | C$44.27 | −23% |
| Fomento de Construcciones y Contratas, S.A FCC | €11.30 | €7.30 | −35% |
| GEM Co 002340 | ¥6.67 | ¥5.27 | −21% |
| Zhejiang Weiming Environment Protection Co 603568 | ¥14.86 | ¥20.95 | +41% |
| Cleanaway Waste Management Limited CWY | A$2.60 | A$1.18 | −55% |
| Beijing GeoEnviron Engineering & Technology, Inc 603588 | ¥14.10 | ¥9.35 | −34% |
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