Sodexo S.A.

SJ7.F · Industrials · Specialty Business Services · Valued as of 2026-11-04 · Statements 2025-08-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

9.60B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

11.46B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

4.26B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

8.44B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

9.30B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.91×

the ratio the screener ranks by

Margin of Safety

-10.2%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 9.60B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)13.35B USD
−②Net Debt Today4.97B USD
+③Growth Value1.22B USD
=Value9.60B USD

EPV of the Operations (NOPAT over WACC)

13.35B USD

Net debt today

-4.97B USD

Growth Value

+1.22B USD

Value

9.60B USD

①EPV (Earnings Power Value)

13.35B USD

②Net Debt Today

4.97B USD

③Growth Value

1.22B USD

Market value

Market Cap9.30B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+3.1%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 11.46B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE7.93B USD
+②Equity at Year 15, Today3.53B USD
=Value11.46B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

7.93B USD

②Equity at Year 15, Today

3.53B USD

Market value

Market Cap9.30B USD

The price on the date above times the shares.

Value vs market

Margin of Safety+18.8%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 4.26B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (no invested capital or measured change in working capital for the latest year), so the value is the book value today, 4.26B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap9.30B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-118.3%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 9.46%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.25×Market Risk Premium 6.00%= 5.98%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC 25.00% (default): the statements print a tax provision of 0 USD on a pretax income of 0 USD, which gives no rate between 0 and the profit before tax, so the 25% default stands for the tax the interest saves.

Interest Expense =EBIT 1.24B USD−Pretax Income 0 USD= 1.24B USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 1.24B USDTotal Debt 6.39B USD×(1 − Tax Rate for WACC 25.00%)= 14.54%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 6.39B USDMarket Cap + Total Debt 9.30B USD + 6.39B USD= 40.71%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 59.29%×Cost of Equity 5.98%+Debt Weight 40.71%×Cost of Debt 14.54%= 9.46%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-02-28.

Total Assets 17.49B USD − Total Liabilities 13.22B USD = Book Value Today 4.26B USD

Total Debt 6.39B USD − Cash and Short-Term Investments 1.42B USD = Net Debt Today 4.97B USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-0.4%at most 5%passes145,841,315 / 146,370,761
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets—at least -10.0%not measured(— − 0 USD) ÷ 17.49B USD
Price to bookMarket Cap ÷ Book Value Today2.18×at most 3×passes9.30B USD ÷ 4.26B USD
Operating marginOperating Income ÷ Revenue—above 10.0%not measured1.26B USD ÷ 0 USD
Revenue growthRevenue ÷ Revenue a Year Before − 1—above 10.0%not measured0 USD / 26.40B USD
Net cash(Cash − Total Debt) ÷ Market Cap-53.7%above -30%does not pass(1.39B USD − 6.39B USD) ÷ 9.30B USD
Operating efficiencyOperating Income ÷ Gross Profit—above 25.0%not measured1.26B USD ÷ 0 USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

56.96 EUR

Enterprise value

12.39B EUR

the provider's own figure

EV / EBITDA

10.91×

Price / book

2.31×

the provider's book

Price / earnings

18.66×

Return on equity

11.9%

the provider's figure, not this page's

Profit margin

1.9%

Revenue growth

-3.7%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

20.33B24.77B26.40B—

Gross profit

2.46B2.98B3.16B—

Operating income

759.66M973.97M1.14B1.26B

EBITDA

operating income before depreciation and amortisation

1.30B1.49B1.81B1.81B

Pretax income

728.55M819.67M1.10B—

Net income

697.44M868.91M186.34M—

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

482.51M655.74M798.96M903.65M

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

20.99B22.76B16.66B—

Total liabilities

16.55B17.77B12.45B—

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

4.43B4.97B4.19B—

Total debt

6.68B6.99B6.03B6.34B

Cash and equivalents

3.24B2.22B2.35B2.43B

Net PP&E

fixed assets after depreciation

1.41B1.42B1.36B—

Working capital

current assets less current liabilities

866.03M1.74B526.85M—
Cash flow (USD)2022202320242025

Operating cash flow

1.04B1.46B1.46B—

Capital expenditure

paid out, so below zero

-266.93M-369.89M-397.08M—

Depreciation and amortisation

458.60M501.21M521.30M—

Free cash flow

operating cash flow plus capital expenditure

771.70M1.09B1.07B—