Publicis Groupe S.A.
Publicis Groupe S.A., together with its subsidiaries, provides marketing, communications, and digital business transformation services in North America, Europe, the Asia Pacific, Latin America, Africa, and the Middle East, and internationally. The company offers power of one, publicis communication…
Publicis Groupe S.A., together with its subsidiaries, provides marketing, communications, and digital business transformation services in North America, Europe, the Asia Pacific, Latin America, Africa, and the Middle East, and internationally. The company offers power of one, publicis communications; publicis sapient; publicis media; publicis health; and other services. Publicis Groupe S.A. was founded in 1926 and is headquartered in Paris, France.Looks undervalued
5-year outlook: Not shown because confidence is low: Earnings-based DCF disagrees strongly.
Other models: EUR 89.52–144.43 (median 141.48). The recommended value is in line with them.
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Details and the full model are below.
Market price below modeled range
Free-cash-flow DCF using Fiscal year 2025 reported free cash flow, with cash, debt, and shares from the latest report. Base assumptions are 8.07% growth, 2.9% terminal growth, and 10.4% discount. Low/high cases vary growth by 2 and terminal growth/discount by 1 percentage point; this illustrative range is not a statistical confidence interval or investment advice.
Assumptions: growth 8.07%, discount rate 10.40%, terminal growth 2.90% (sector defaults). See a worked example.
Blended growth assumption: 8.1% (sector default 7.0%, own revenue history 10.3%, analyst revenue consensus 7.5%).
Analyst consensus expects revenue growth of 7.5% a year; the growth assumption used is 8.1%.
Adjust assumptions
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — EUR 176.95 (+72.5%)
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EPS-based Gordon proxy
— EUR 89.52 (-12.7%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— EUR 176.95 (+72.5%)
Not used: Not chosen: Free-cash-flow DCF ranks ahead of it for this company.
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FCFF (steady state)
— EUR 141.48 (+37.9%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
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EV/EBITDA (12x)
— EUR 144.43 (+40.8%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— EUR 175.67 (+71.2%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
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EV/Sales (Rule of 40)
— EUR 355.41 (+246.4%)
Not used: Used only when cash-flow models land far below the price; here they do not.
| Bear EUR 130.76 | 21.5% |
| Base EUR 176.95 | 42.0% |
| Bull EUR 257.92 | 60.2% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
At EUR 102.60 the market implies about this annual free-cash-flow growth for 5 years (terminal 2.9%, discount 10.4%).
Compare: the market implies -4.2% a year, this model assumes 8.1%. The model is more optimistic than the price, which is why it reads as undervalued.
How the Free-cash-flow DCF value changes with growth (rows) and discount rate (columns). Green cells are above the current price.
| Growth \ Discount | 8.4% | 9.4% | 10.4% | 11.4% | 12.4% |
|---|---|---|---|---|---|
| 4.1% | 205.57 | 172.90 | 148.95 | 130.64 | 116.18 |
| 6.1% | 224.66 | 188.76 | 162.45 | 142.35 | 126.48 |
| 8.1% | 245.16 | 205.79 | 176.95 | 154.90 | 137.52 |
| 10.1% | 267.17 | 224.06 | 192.48 | 168.36 | 149.34 |
| 12.1% | 290.76 | 243.63 | 209.11 | 182.75 | 161.98 |
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 90 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +10.3% a year | 20 / 20 |
| Balance sheet | net debt 0.5x EBITDA | 20 / 20 |
| Margins | EBITDA margin 18% | 10 / 20 |
Peers in Communication Services
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| PUB.PA (this company) | EUR 102.60 | 42.0% | 15.7 | 2.5 | 3.5% | 90 |
| VOD.L Vodafone Group Public Limited Company | GBP 1.17 | 56.7% | – | 0.7 | 3.2% | 66 |
| DTE.DE Deutsche Telekom AG | EUR 25.87 | 49.7% | 14.4 | 2.1 | 5.5% | 82 |
| CMCSA Comcast | USD 24.95 | 39.1% | 7.9 | 1.0 | 5.4% | 82 |
| TEF.MC Telefonica, S.A. | EUR 3.36 | 33.8% | – | – | 8.9% | 59 |
| INF.L Informa plc | GBP 8.40 | 23.0% | – | 1.9 | 2.4% | 66 |
| SONY Sony Group Corporation | USD 27.54 | 19.5% | – | – | – | 82 |
| EMBRAC-B.ST Embracer Group AB | SEK 95.44 | 18.5% | – | 1.0 | – | 56 |
| GOOG Alphabet Inc. (Class C) | USD 281.74 | 11.7% | 14.8 | 5.1 | 0.3% | 100 |
| Peer median | 14.4 | 1.5 | ||||
Dividends
Paid in the last 12 months: EUR 3.75 per share · yield 3.65% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 3.750 |
| 2025 | 3.600 |
| 2024 | 3.400 |
| 2023 | 2.900 |
| 2022 | 2.400 |
| 2021 | 2.000 |
Annual financial statement
Saved annual report · Fiscal year 2025 · EODHD annual statements · period ended 31 Dec 2025
| Revenue | EUR 17,399,000,000 |
|---|---|
| EBITDA | EUR 3,171,000,000 |
| EBIT | EUR 2,439,000,000 |
| Net income | EUR 1,653,000,000 |
| Free cash flow | EUR 2,719,000,000 |
| Capital expenditures | EUR 250,000,000 |
| Debt | EUR 5,661,000,000 |
| Cash | EUR 4,200,000,000 |
| Working capital | EUR -824,000,000 |
| Shares outstanding | 253,343,182 |
| Reported dividends per share | EUR 3.5643 |