Loading…
French outdoor advertising company operating street furniture, billboards, transit and airport ad displays worldwide.
French outdoor advertising company operating street furniture, billboards, transit and airport ad displays worldwide.
Wins long contracts from cities, airports and transit operators to place its advertising displays, then sells the space to brands; in many cities it also provides and maintains street furniture such as bus shelters in return for the advertising rights. Airport and transport sites are most exposed to travel. The Decaux family controls the company.
Moat: narrow (scale, regulatory licence, installed base). Long-term municipal advertising concessions create high barriers to entry in each city.
Headquarters: Neuilly-sur-Seine, France · Founded: 1964 · Employees: 11,320
Size JCDecaux (DEC.PA) is a France Communication Services company (Advertising/Marketing Services) with a market value of $6.40B, the 59th largest of 206 France companies the cockpit tracks. Shares closed at €26.66 on 6 Nov 2026.
Performance Over six months the shares gained 42.0%, against +2.7% for the median peer and -0.4% for the France market (cap-weighted) — 2nd highest of 15 in its peer set.
Growth Revenue grew 1.1% over the last twelve months (peer median +5.3%); the operating margin is 12.5% (peer median 7.2%).
Valuation It trades at 18.6× forward earnings against a peer median of 14.9× (6th most expensive of 12).
Price implies For today's price to make sense, revenue must grow about 7% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 1.4 points below its cost of capital (8.0% WACC).
Credit JCDecaux has 3 bonds outstanding ($1.89B), rated BBB- by the agencies and trading like A- at a weighted spread of 79 bp.
Next results Next results expected around 11 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €3.74B | €3.67B | €3.63B | €3.30B | €3.07B |
| Revenue growth | — | +1% | +10% | +7% | — |
| Gross profit | €1.19B | €1.14B | €1.08B | €954M | €818M |
| EBITDA | €1.26B | €1.29B | €1.30B | €1.27B | €1.28B |
| Net income | €327M | €263M | €259M | €209M | €132M |
| Free cash flow | €927M | €878M | €811M | €728M | €748M |
| Capital expenditure | €288M | €303M | €319M | €373M | €351M |
| Total debt | n/a | €3.99B | €4.52B | €5.41B | €6.43B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| JCDecaux DEC.PA | $6.40B | +42% | +1% | 12% | 18.6× | 6.6% |
| Clear Channel Outdoor CCO | n/a | +2% | n/a | n/a | n/a | n/a |
| Lamar Advertising LAMR | $15.8B | -1% | +4% | 32% | 25.0× | n/a |
| Focus Media Information Technology 002027.SZ | $12.0B | -12% | -2% | 30% | 14.4× | 1.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | DEC.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +11.4% | +9.2% | 4th highest of 15 |
| 6-month return | +42.0% | +2.7% | 2nd highest of 15 |
| Distance from 52-week high | -2.8% | -16.2% | highest of 15 |
| Revenue growth (TTM) | +1.1% | +5.3% | 5th lowest of 15 |
| Operating margin | 12.5% | 7.2% | 3rd highest of 15 |
| Forward P/E | 18.6× | 14.9× | 6th most expensive of 12 |
| Growth the price implies (Req g, 7 yrs) | 6.6% | 0.8% | 6th most demanding of 13 |
| Growth delivered (Del g) | +11.8% | +9.0% | 5th highest of 13 |
| Hurdle (Req g minus delivered) | -5.2 pp | -8.4 pp | 6th most demanding of 13 |
| ROIC minus cost of capital | -1.4 pp | +1.0 pp | 7th lowest of 15 |
| EV / EBITDA | 6.8× | 6.2× | 4th most expensive of 9 |
| Net debt / EBITDA | 2.1× | 0.4× | 3rd most indebted of 10 |
| Bond spread | 79 bp | 117 bp | tightest of 4 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| JCDecaux DEC.PA | France | $6.40B | +42% | +1% | 12% | 18.6× | 6.6% | +11.8% |
| Dentsu 4324.T | Japan | $6.37B | +30% | +4% | 10% | 12.8× | -12.0% | +8.8% |
| Compagnie du Cambodge CBDG.PA | France | $6.33B | -11% | +45% | -11% | n/a | 55.9% | +269.1% |
| WPP WPP.L | United Kingdom | $5.93B | +58% | -6% | 9% | 7.8× | -8.1% | +2.5% |
| BlueFocus Intelligent Communications 300058.SZ | China | $6.98B | -24% | +6% | 0% | 123.3× | 58.3% | +11.1% |
| Pattern PTRN | United States | $3.24B | +15% | +44% | 1% | 24.0× | 37.8% | +36.2% |
| Easy Click Worldwide Network Technology 301171.SZ | China | $3.20B | +3% | +29% | 2% | 99.2× | 57.4% | +9.1% |
| Hakuhodo Dy 2433.T | Japan | $3.05B | +34% | -6% | 5% | 20.9× | -2.8% | +3.8% |
| REA REA.AX | Australia | $15.9B | +2% | +4% | 48% | 31.3× | 19.3% | +14.5% |
| Kuaishou-w 1024.HK | Hong Kong | $16.0B | -39% | +11% | 11% | 14.9× | -4.4% | +18.6% |
| Stroeer SE & Co. KGaA SAX.DE | Germany | $2.41B | -1% | +3% | 11% | 13.3× | 4.5% | +7.5% |
| Havas HAVAS.AS | Netherlands | $1.99B | +10% | +1% | 9% | 8.2× | -8.4% | +1.8% |
| Guangdong Guangzhou Daily Media 002181.SZ | China | $1.96B | -32% | 0% | -6% | n/a | n/a | n/a |
| Omnicom OMC | United States | $23.6B | +13% | +54% | 15% | 7.9× | -6.9% | +5.6% |
| Guangdong Advertising 002400.SZ | China | $1.72B | -27% | +11% | 0% | n/a | n/a | n/a |
JCDecaux has 3 bonds outstanding with $1.89B face value. The agencies rate it BBB-; its bonds trade like A-. Weighted yield 4.07%, a spread of 79 bp over government bonds.