4 models fit Viridien Société anonyme and they disagree: 0 of 4 land within 15% of the average.
Two or more of our models back this value.
Large discount(i)Bronze47
Valued as a cyclical company: P/E comparison, EV/EBITDA comparison, Discounted cash flow, and Graham number.
ACCE opinionViridien Société anonyme (VIRI.PA)
Fair value (4 models)
€133
ACCE price target
€103
Rating
Undervalued
Horizon
12 months
Fair value published on 22 Oct 2026, 14:04 CEST.
ACCE price target published on 23 Oct 2026, 01:53 CEST.
Rating published on 22 Oct 2026, 14:04 CEST.
Price used: €93.70 at the close on 23 Oct 2026, 17:30 CEST.
Models: Discounted cash flow, P/E comparison, EV/EBITDA comparison, and Graham number.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
29.3% below
+41.5% to fair value
ACCE score
65
out of 100
P/E
14.5x
forward 7.3x
1-year return
+19.2%
Dividend yield
0.00%
Viridien Société anonyme in four questions
Plain answers, details below
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Overview
ACCE thesis
Viridien (formerly CGG) sells seismic data acquisition, subsurface imaging and geoscience services to oil and gas explorers and, increasingly, to offshore wind and carbon storage developers. The reported 43.2% revenue growth is the number that stands out, but the business is still thin: a 27.0% gross margin collapses to a 0.7% operating margin, so this is a cyclical services company still working its way back to profitability rather than a compounder. The investment case rests on whether the energy transition work (site surveys for offshore wind and CO2 storage) and a restructured balance sheet can lift margins from near zero toward something the market will pay for. At 13.5 trailing and 6.8 forward earnings, the stock is priced for a meaningful earnings rebound, and the forward multiple only holds if that recovery shows up in the reported numbers. This looks worth a deeper look for the margin trajectory and the mix shift toward multi-client data libraries, which carry higher returns than contract work, rather than on the headline growth rate.
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
moderate
Thin operating margin
Operating margin is only +0.7% against a +27.0% gross margin, so the 5.1% net margin likely leans on non-operating items. Earnings jumped +82.9% off a small base, which makes that growth less dependable.
moderate
Leverage relative to equity
Debt/Equity of 0.94 is meaningful for a company earning a 5.0% ROE. Higher rates or a revenue slowdown would leave less cushion.
AI research notes
AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 43.2% year over year in the June 2026 interim report, well above its 6.6% average annual pace over five years.
Free cash flow over the last twelve months reached $358M, and the stock's free cash flow yield is 48.4% at current prices.
Analysts' mean price target of EUR 140.47 sits 61.3% above the share price of €93.70, with the stock at €93.70.
Why it could disappoint
Return on equity of 5.0% and return on invested capital of 2.8% show the company earns little on the capital it uses.
Net margin of 5.1% and debt to equity of 0.94 leave a thin profit cushion against a heavy debt load.
The latest earnings per share came in at -4.01 against -1.81 expected, a surprise of -121.5%.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 3, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
INVESTOR
Where VIRI.PA's valuation models land
Price
€93.70
Model fair value
€133
Model range
€90.05 to €173
Fair value €133
Price €93.70
The price sits inside the model range.
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
Graham number
P/E comparison
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