Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Pierre et Vacances SA is a leading European operator in the tourism and property development sectors, specializing in holiday residences, villages, and hotels. Founded in 1967 by Gérard Brémond and headquartered in Paris, France, the company pioneered innovative concepts like vehicle-free ski resorts at Avoriaz and the 'Nouvelle Propriété' model, allowing property owners to retain usage rights while outsourcing rentals for steady income. It manages a vast portfolio under brands including Pierre & Vacances, Center Parcs, Sunparks, Maeva, Villages Nature Paris, and Adagio (in partnership with Accor), offering upscale to midscale accommodations such as apartments, cottages, domains, and city aparthotels. With operations spanning France, Belgium, the Netherlands, Germany, Spain, Italy, Switzerland, Austria, and beyond, it provides nearly 236,000 beds across approximately 300 sites, welcoming millions of guests annually for seaside, mountain, countryside, and urban stays. Pierre et Vacances SA emphasizes environmentally friendly leisure concepts, playing a pivotal role in the consumer cyclical tourism industry by blending property services with vacation experiences.
13.79% operating margin is respectable but not wide. ROIC at 4.97%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue growth slowed to 2.7%, essentially flat. This is a business that needs a catalyst.
ROIC dropped from 6.99% to 4.97%, capital efficiency is deteriorating. Net debt of €3.15B represents 14.0x FCF, leverage limits flexibility.
Profitability & Returns
Revenue (TTM)
€1.87B
▲ +2.7% YoY
Net Income (TTM)
€34M
▲ +21.7% YoY
Op. Margin
13.79%
ROIC
4.97%
▼ -2.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€225M
▲ +15.2% YoY
Op. Cash Flow (TTM)
€234M
▼ -4.5% YoY
Net Debt
€3.15B
Cash & Equiv.
€110M
3Y CAGR: +5.0%
3Y CAGR: +103.2%
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