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SPIE SA
(SPIE)
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Rating:57Neutral
Price Target:
€42.00
▼(-6.33% Downside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by solid financial performance (strong revenue growth and generally healthy cash generation), but it is held back by meaningful leverage and weaker net profitability in 2025. Technical indicators are bearish and valuation is expensive on P/E, which further weighs on the overall score.
Positive Factors
Strong revenue growth
Sustained revenue expansion indicates strong demand for SPIE’s technical infrastructure services and broad market reach. Continued top-line growth can support scale efficiencies, strengthen customer relationships, and provide a durable base for investment across energy, buildings, industry, and communications.
Negative Factors
Elevated leverage
Debt at this level creates a meaningful constraint for an engineering and construction business, particularly if project activity or customer spending weakens. Leverage can limit financial flexibility, increase the importance of steady cash generation, and restrict capacity for acquisitions or other strategic investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
Sustained revenue expansion indicates strong demand for SPIE’s technical infrastructure services and broad market reach. Continued top-line growth can support scale efficiencies, strengthen customer relationships, and provide a durable base for investment across energy, buildings, industry, and communications.
Read all positive factors
SPIE SA (SPIE) vs. iShares MSCI France ETF (EWQ)
Market Cap
€7.47B
Dividend Yield2.54%
Average Volume (3M)491.29K
Price to Earnings (P/E)43.2
Beta (1Y)0.96
Revenue Growth3.06%
EPS Growth47.94%
CountryFR
Employees54,673
SectorGeneral
Sector StrengthN/A
IndustryEngineering & Construction
Share Statistics
EPS (TTM)1.00
Shares Outstanding172,855,990
10 Day Avg. Volume309,220
30 Day Avg. Volume491,288
Financial Highlights & Ratios
PEG Ratio-2.25
Price to Book (P/B)15.58
Price to Sales (P/S)3.23
P/FCF Ratio44.87
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€54.75Price Target Upside22.10% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)3.09
Revenue Forecast (FY)€11.24B
SPIE SA Business Overview & Revenue Model
Company Description
SPIE SA, an enterprise established in 1900 and headquartered in Cergy-Pontoise, France, specializes in delivering comprehensive multi-technical services across the energy and communication domains. Its operations are structured into four key segme...
How the Company Makes Money
SPIE primarily makes money by providing multi-year and project-based technical services to corporate and public-sector customers, billing for labor, engineering expertise, materials, and subcontracted work depending on contract scope. Its revenue ...
SPIE SA Financial Statement Overview
Summary
Income Statement
67
Positive
Balance Sheet
61
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.57B | 10.40B | 9.92B | 8.73B | 8.11B | 6.99B |
| Gross Profit | 537.35M | 504.70M | 8.56B | 703.53M | 7.01B | 6.09B |
| EBITDA | 1.05B | 1.06B | 876.11M | 750.71M | 570.52M | 578.81M |
| Net Income | 301.67M | 176.40M | 273.18M | 238.51M | 151.54M | 169.10M |
Balance Sheet | ||||||
| Total Assets | 11.22B | 10.30B | 9.99B | 9.15B | 8.93B | 8.61B |
| Cash, Cash Equivalents and Short-Term Investments | 421.10M | 791.80M | 718.16M | 1.21B | 1.28B | 1.25B |
| Total Debt | 3.37B | 2.80B | 2.75B | 2.51B | 2.61B | 2.52B |
| Total Liabilities | 9.11B | 8.12B | 7.89B | 7.17B | 7.03B | 6.93B |
| Stockholders Equity | 2.09B | 2.15B | 2.08B | 1.95B | 1.89B | 1.68B |
Cash Flow | ||||||
| Free Cash Flow | 883.81M | 747.50M | 831.97M | 651.66M | 511.54M | 448.98M |
| Operating Cash Flow | 954.68M | 822.50M | 920.52M | 713.33M | 577.36M | 515.88M |
| Investing Cash Flow | -992.91M | -295.40M | -994.84M | -231.29M | -315.21M | -208.46M |
| Financing Cash Flow | 135.03M | -414.10M | -391.27M | -545.77M | -301.26M | -262.04M |
SPIE SA Technical Analysis
Positive
44.84
Price Trends
42.84
Positive
45.57
Negative
46.28
Negative
Market Momentum
-0.21
Negative
60.39
Neutral
93.28
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:SPIE, the sentiment is Positive. The current price of 44.84 is above the 20-day moving average (MA) of 41.76, above the 50-day MA of 42.84, and below the 200-day MA of 46.28, indicating a neutral trend. The MACD of -0.21 indicates Negative momentum. The RSI at 60.39 is Neutral, neither overbought nor oversold. The STOCH value of 93.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:SPIE.
SPIE SA Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | €60.57B | 11.91 | 16.58% | 4.65% | 3.81% | 8.38% | |
65 Neutral | €9.76B | 9.00 | 13.97% | 4.76% | 5.42% | 7.59% | |
63 Neutral | €15.77B | 12.48 | 9.79% | 5.15% | -1.41% | 17.79% | |
61 Neutral | €10.64B | 15.12 | 12.27% | 3.48% | 1.02% | 171.38% | |
59 Neutral | €500.60M | -141.46 | -1.26% | 5.89% | 3.50% | -143.54% | |
57 Neutral | €7.47B | 43.24 | 14.23% | 2.54% | 3.06% | 47.94% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
FR:SPIE
SPIE SA
43.24
0.13
0.29%
FR:ASY
Assystem
33.95
-8.52
-20.06%
FR:EN
Bouygues
40.80
3.26
8.69%
FR:FGR
Eiffage
100.80
-1.94
-1.88%
FR:RXL
Rexel SA
34.47
5.41
18.63%
FR:DG
Vinci SA
108.60
-2.80
-2.52%
SPIE SA Corporate Events
SPIE boosts liquidity and extends debt profile with €500 million sustainability-linked bond
Oct 20, 2026
SPIE SA has refinanced its outstanding sustainability-linked ORNANEs due 2028 by issuing a new €500 million sustainability-linked bond with a 5.5-year maturity and a 4.875% coupon, executed in a challenging debt market. The proceeds were use...
SPIE buys CLAUSER to bolster industrial maintenance and electrification capabilities
Oct 5, 2026
SPIE, the European multi-technical services leader in energy and communications, is expanding its footprint in industrial maintenance and high-power electrical installations with the acquisition of 94% of CLAUSER. CLAUSER, founded in 1963 and empl...
SPIE Reshapes Capital Structure With €388 Million Repurchase of 2028 Sustainability-Indexed Bonds
Sep 24, 2026
SPIE has executed a major repurchase of its sustainability-indexed ORNANEs maturing in January 2028, buying back 2,801 bonds with a principal of €280.1 million, or about 70% of the original issue. The reverse bookbuilding process set a final...
SPIE refinances 2028 ORNANEs with €500 million sustainability-linked bond
Sep 22, 2026
SPIE has launched a partial cash tender offer of up to €388 million to buy back its sustainability-linked ORNANEs due January 2028, followed by the early redemption of any remaining notes on 22 October 2026 at par plus accrued interest. The ...
SPIE launches sustainability-linked bond to refinance debt and bolster green strategy
Sep 21, 2026
SPIE has launched a sustainability-linked bond issue, with proceeds earmarked for general corporate purposes and the partial refinancing of existing group debt. The transaction includes refinancing of bonds due in January 2028, strengthening the g...
SPIE Delivers Strong H1 2026 Results and Scales Up Industrial Services
Jul 30, 2026
SPIE SA, a European multi-technical services specialist, reported a robust first half of 2026, with revenue rising 3.6 percent to €5.16 billion and organic growth rebounding to 3.1 percent in the second quarter. EBITA margin expanded by 20 b...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.