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Operates Hachette book publishing and Relay travel retail stores in airports and train stations worldwide.
Operates Hachette book publishing and Relay travel retail stores in airports and train stations worldwide.
Books earn per copy sold through retailers, which is steadier than travel retail. Travel retail earns from concession contracts in airports and stations, paying landlords a share of sales, so passenger traffic drives revenue directly.
Moat: narrow (brand, distribution, scale). Hachette is one of the world's largest publishers; Relay holds concession rights at prime transit locations.
Headquarters: Paris, France · Employees: 38,127
Size Lagardere (MMB.PA) is a France Consumer Staples company (Discount Stores) with a market value of $2.92B, the 91st largest of 206 France companies the cockpit tracks. Shares closed at €18.34 on 6 Nov 2026.
Performance Over six months the shares gained 3.6%, against +7.7% for the median peer and -0.4% for the France market (cap-weighted) — 5th lowest of 10 in its peer set.
Growth Revenue grew 3.6% over the last twelve months (peer median +2.9%); the operating margin is 7.3% (peer median 9.0%).
Valuation It trades at 8.7× forward earnings against a peer median of 16.6× (2nd cheapest of 10).
Price implies For today's price to make sense, revenue must grow about -6% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -22 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 2.3 points above its cost of capital (6.7% WACC).
Credit Lagardere has 3 bonds outstanding ($1.67B) and trading like BB at a weighted spread of 241 bp.
Next results Next results expected around 26 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €9.50B | €9.42B | €9.00B | €8.13B | €6.98B |
| Revenue growth | — | +5% | +11% | +17% | — |
| Gross profit | €678M | €663M | €582M | €490M | €336M |
| EBITDA | €1.53B | €1.50B | €1.33B | €1.17B | €945M |
| Net income | €210M | €203M | €168M | €144M | €161M |
| Free cash flow | €1.02B | €1.00B | €866M | €661M | €504M |
| Capital expenditure | €263M | €276M | €307M | €311M | €222M |
| Total debt | n/a | €5.13B | €4.90B | €4.95B | €4.59B |
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 |
|---|---|---|---|---|---|---|
| Lagardere MMB.PA | $2.92B | +4% | +4% | 7% | 8.7× | -5.5% |
| WH Smith SMWH.L | $851M | -10% | -31% | 8% | 11.0× | 9.1% |
| News Corp (Class A) NWSA | $14.7B | -2% | +1% | 13% | 18.4× | 8.0% |
| Avolta AVOL.SW | $8.03B | +8% | -1% | 7% | 13.8× | -1.6% |
| Arnoldo Mondadori Editore MN.MI | $579M | -5% | +2% | 9% | 8.8× | -4.9% |
| Scholastic SCHL | $685M | -7% | -3% | 1% | 20.8× | n/a |
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 | MMB.PA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.7% | +8.0% | 3rd lowest of 10 |
| 6-month return | +3.6% | +7.7% | 5th lowest of 10 |
| Distance from 52-week high | -10.1% | -15.1% | 3rd highest of 10 |
| Revenue growth (TTM) | +3.6% | +2.9% | 5th highest of 10 |
| Operating margin | 7.3% | 9.0% | 4th lowest of 10 |
| Forward P/E | 8.7× | 16.6× | 2nd cheapest of 10 |
| Growth the price implies (Req g, 7 yrs) | -5.5% | 0.9% | least demanding of 10 |
| Growth delivered (Del g) | +16.0% | +4.8% | 3rd highest of 10 |
| Hurdle (Req g minus delivered) | -21.6 pp | -3.9 pp | 2nd least demanding of 10 |
| ROIC minus cost of capital | +2.3 pp | +2.5 pp | 5th lowest of 10 |
| EV / EBITDA | 4.8× | 11.1× | cheapest of 8 |
| Net debt / EBITDA | 3.0× | 2.6× | 4th most indebted of 9 |
| Bond spread | 241 bp | 91 bp | widest of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Lagardere MMB.PA | France | $2.92B | +4% | +4% | 7% | 8.7× | -5.5% | +16.0% |
| Carmila CARM.PA | France | $2.40B | -7% | -1% | 60% | 8.2× | 4.3% | +5.5% |
| B&M European Value Retail BME.L | United Kingdom | $3.79B | +71% | +4% | 8% | 12.9× | -0.6% | +3.8% |
| Europris EPR.OL | Norway | $1.44B | -9% | +3% | 9% | 15.2× | -4.3% | +13.2% |
| Avolta AVOL.SW | Switzerland | $8.03B | +8% | -1% | 7% | 13.8× | -1.6% | +40.3% |
| Five Below FIVE | United States | $13.2B | +8% | +26% | 15% | 23.7× | 8.1% | +19.4% |
| China Tourism Group Duty Free 601888.SS | China | $15.9B | -17% | -1% | 10% | 24.7× | 8.6% | +0.4% |
| Dollar Tree DLTR | United States | $24.6B | +39% | -8% | 11% | 19.1× | 0.1% | -5.3% |
| Can Do 2698.T | Japan | $307M | -4% | +4% | 1% | 69.5× | 12.4% | +3.6% |
| Dollar General DG | United States | $29.5B | +18% | +5% | 6% | 16.6× | 0.9% | +4.8% |
Lagardere has 3 bonds outstanding with $1.67B face value. Weighted yield 5.46%, a spread of 241 bp over government bonds.