Added to YB: 2026-10-15
Pitch date: 2026-10-13
VIV.PA [bullish]
Vivendi SE
+0.53%
current return
Author Info
Price to Tangible Bruce is a deep value investor. Buying what most investors don't like across global public markets. Sign up for the newsletter.
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 1.51
Price Target
N/A
Dividend
2.73%
EV/EBITDA
38.95
P/E
91.58
EV/Sales
10.19
Sector
Entertainment
Category
value
A Double Discount on a Global Powerhouse - Vivendi SE
VIV.PA: Vivendi offers discounted exposure to UMG: its 10% stake represents ~86% of NAV, yet the holding company trades at 0.47x NAV while UMG itself trades at ~13x forward earnings and ~11x 2027 earnings. Returns could come first from UMG growth or rerating and second from discount narrowing, but the forced-bid thesis is now unlikely; persistent discount, UMG weakness and collateralized leverage are key risks.
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