Wendel (WNDLF)
SubavaliadaFundamental
43
Preço
$80.40
Capitalização de Mercado
$3.13B
Parte 1 · Quanto vale a empresa
Visão Geral
Wendel is a French investment holding company: it does not sell a product of its own, it buys controlling or influential stakes in other companies and manages them over long horizons, then eventually sells. It also runs a separate business managing private-market funds for outside investors — the IK Partners and Monroe Capital platforms, together overseeing about €47 billion of third-party money. Its own capital, valued at €164.2 net asset value per share at the end of 2025, is invested across roughly a dozen companies spanning testing and certification, education, professional training, engineering consulting and specialty chemicals.
Como gera receita
Wendel's consolidated financial statements report the full sales of the portfolio companies it controls, not just its share of their profits, which is why its reported 2025 net sales of about €7.6 billion are dominated by Bureau Veritas, a testing and certification company Wendel controls through governance rights despite owning only about a quarter of its shares. Companies where Wendel holds influence but not control, such as Tarkett and Globeducate, are booked only as a share of profit rather than added to consolidated sales. On top of this, Wendel earns management fees from the private-fund platforms it operates for outside investors.
Os argumentos a favor
Buyers argue that Wendel's stock has historically traded at a discount to the sum of its stakes' market and private valuations, that a shift toward managing third-party private-fund capital diversifies income away from any single portfolio company, and that experienced, long-horizon ownership lets the underlying businesses invest without quarterly pressure.
Os argumentos contra
Sellers fear that a holding company's value depends on decisions made inside businesses it does not fully own, that concentration in a handful of large stakes such as Bureau Veritas leaves little room for error in any one of them, and that the conglomerate discount can persist indefinitely rather than close.
Written by the editors, published on 18 de agosto de 2026
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
No competitor list for this company yet.
Balanço & Liquidez
Receita
$6.71B
Últimos 12 meses até o último trimestre divulgado — estimativa a partir de métricas por ação
Resultado Líquido
$-78M
Últimos 12 meses até o último trimestre divulgado — estimativa a partir de métricas por ação
Fluxo de Caixa Livre
$-353M
Capital Próprio Total
$3.07B
Passivo Total
$5.65B
Rácio de Liquidez
1.38
Cobertura de Juros
-
Dívida/EBITDA
5.34
Resultados Por Ação
Receita & Resultado Líquido
Fluxo de Caixa Livre
Decomposição dos Resultados
Demonstração histórica
Margens ao longo do tempo
A dívida ao longo do tempo
Quanto pesa a dívida
Grelha do crescimento
Crescimento — Receitas
Estimativa de Valor Justo
Valor Justo
$130.96
Preço Atual
$80.40
Margem de Segurança
+38.6%
Intervalo de Valor Justo
$100.59 - $161.33
Dispersão entre os métodos de avaliação utilizados, não um intervalo de confiança calibrado estatisticamente.
Métodos de Estimativa
Métricas de Avaliação
Rácio P/E
-
ROE
8.0%
Rácio P/B
1.01
P/FCF
-
Margem Bruta
11.6%
ROIC
9.0%
Radar de Rentabilidade
Criação de Valor (Vantagem Competitiva)
ROIC
9.0%
WACC
3.9%
ROIC − WACC
+5.1 pp
O ROIC supera o custo do capital — a empresa está a criar valor para os acionistas.
Critérios de Análise Fundamental
Aprovado (7)
- ROIC 9.0%
- P/B Ratio 1.01
- Debt/Equity ratio
- Operating Margin 12.5%
- Current Ratio
- Debt/EBITDA
- Analyst Consensus 75% Buy
Reprovado (8)
- Price CAGR -2.80%
- Gross Margin 11.6%
- Positive Free Cash Flow
- DCF valuation (Unknown)
- ROE -2.6%
- Revenue Growth 5Y 2.1%
- Net Margin Trend -2.0% vs 3.6%
- Piotroski F-Score 2/9
Indisponível (12)
- EPS data insufficient
- P/FCF NaN
- Dividend Payout NaN%
- CapEx intensity
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Price below Graham Number
- Earnings Surprise (Finnhub)
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
- Share Dilution (missing shares data)
Piotroski F-Score
Preocupações financeiras graves
Qualidade dos Resultados
Baixa qualidade: investigar a contabilidade
Diluição de Ações
A recomprar ações. Favorável ao acionista
Participações institucionais
Não há declarações institucionais para esta empresa.
Governação
Equipa Executiva
| Nome | Cargo | Idade |
|---|---|---|
| Mr. Laurent Mignon | Group CEO & Chairman of the Executive Board | 62 |
| Mr. David Darmon | Deputy CEO & Member of Executive Board | 52 |
| Ms. Harper Mates | MD, CEO of Wendel NA & Employee Representative Member of Supervisory Board | 43 |
| Mr. Benoit Drillaud | Chief Financial Officer | 50 |
| Mr. Cyril Marie | Executive VP of Asset Management & Member of Executive Board | 51 |
| Mr. Sébastien Metzger | General Counsel | 44 |
| Ms. Christine Anglade-Pirzadeh | Director of Communications, ESG & Sustainable Development and Advisor to the Executive Board | 54 |
| Ms. Laure Delabeye | Director of Human Resources & Services | 54 |
| Mr. Jérôme Michiels | Executive Vice President | 50 |
| Mr. Nabil Bennis | Head of Valuation & Investment Strategy Performance Monitoring | 35 |
Risco de Auditoria
5
Risco do Conselho
6
Risco de Remuneração
2
Risco dos Direitos dos Acionistas
7
Parte 2 · O preço e o momento de entrar
Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.
Latest News
Recent headlines for WNDLF, sourced from Markets Gazette.