Vicat is a French cement, aggregates and ready-mix concrete producer, with cement plants and quarries across France, Europe, Africa and Asia, and it also sells the building materials that go with them, such as mortars and precast products. The moat is the economics of heavy construction materials: cement is costly to haul, so plants win on local proximity and pricing discipline, and Vicat's 36.2% gross margin and 9.6% operating margin reflect that pricing power. Revenue growth of 8.0% is the number to test, since it has to come from volume and price rather than acquisitions, and it is worth checking how much is coming from its emerging-market operations versus France. At 9.0 trailing and 8.1 forward earnings with a 10.2% ROE, the stock is priced for a cyclical business with modest returns, so the question for a deeper look is whether energy costs and European construction activity hold up enough for those margins to stay where they are. The company has no index membership, which means the holder base and liquidity profile are worth examining before sizing any position.
Plain-English pros, cons, and what to watch. Pro feature.
See what each model says, the assumptions behind it, the bad, normal and good cases, and why the fair value changed.
The full quality picture: a reason under every score, how the scores moved, and the conviction breakdown.
The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.
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| Date | Type | New | Previous | Price |
|---|---|---|---|---|
| 23 Oct 2026, 01:53 CEST | ACCE price target | €65.00 | first publication | €58.20 |
| 22 Oct 2026, 13:04 CEST | Rating | Undervalued | first publication | €58.90 |
| 22 Oct 2026, 13:04 CEST | Fair value | €84.72 | first publication | €58.90 |
Answered from Vicat S.A. fundamentals + recent valuations. Every number shows its source and date.
| Company | Price | Fair value | vs fair value | P/E | ROE | Quality | Score |
|---|---|---|---|---|---|---|---|
| VCT.PA Vicat S.A. | €58.50 | €85 | 31% below | 9.1x | 10.2% | 59 | 59 |
| 5233.T Taiheiyo Cement Corporation | ¥4055.00 | - | - | 16.7x | 4.2% | 43 | 62 |
| KNF Knife Riv Holding Co. Common Stock | $53.85 | $48 | 13% above | 21.3x | 9.1% | 52 | 43 |
| GCC.MX Grupo Cementos de Chihuahua | MXN 177.77 | MXN 229 | 22% below | 10.5x | 13.9% | 78 | 62 |
| DALBHARAT.NS Dalmia Bharat Limited | ₹1620.60 | - | - | 31.9x | - | 76 | 43 |
| USLM United States Lime & Minerals Inc. Common Stock | $111.50 | $76 | 47% above | 22.8x | 21.3% | 91 | 58 |
| CMO.MC Cementos Molins, S.A. | €35.40 | €43 | 18% below | 11.2x | 13.7% | 79 | 56 |
Where VCT.PA ranks against its sector peers on each metric.