BVI FINANCIAL STATEMENTS

Bureau Veritas SA — balance sheet, income statement and cash flow trends

BVIBureau Veritas SA

🇫🇷 France · PA · Industrials · Consulting Services

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q2 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue6.5 B €+10.2%

Gross Profit1.5 B €+12.6%

Operating Income938.7 M €+12.9%

EBITDA1.2 B €+9.1%

Net Income588 M €+16.7%

Peer Comparison· Consulting Services

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
BVI	2.1%	23.9%	19.2%	9.1%
EFX	9.6%	44.7%	30.0%	11.1%
ALQ	10.7%	17.1%	23.8%	9.6%
VRSK	5.9%	67.4%	53.9%	29.3%
BAH	-6.4%	44.5%	10.8%	7.6%
FCN	5.6%	31.8%	11.5%	6.9%
Industry median	5.9%	35.7%	12.8%	6.9%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
BVI	2.1%	23.9%	19.2%	9.1%
FGR	8.8%	47.5%	16.0%	3.9%
EN	-1.0%	18.2%	10.1%	2.1%
VIE	-0.7%	17.6%	15.9%	2.7%
LR	9.5%	50.4%	23.9%	13.2%
SGO	-0.2%	27.2%	11.5%	4.5%
Industry median	5.9%	35.7%	12.8%	6.9%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q2 2025

Equity1.7 B €24%
Current Liabilities2.2 B €31%
Long-term Liabilities3.1 B €44%

Key Figures

YoY change

Total Assets7.1 B €+6.3%

Total Liabilities5.3 B €+14.2%

Total Equity1.7 B €-11.6%

Cash & ST Investments1.4 B €+16.4%

Total Debt3.1 B €+21.6%

Net Debt1.7 B €+26.0%

Peer Comparison· Consulting Services

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
BVI	1.50	180.3%	1.38	24.2%
EFX	0.61	116.9%	2.72	38.0%
ALQ	1.47	92.5%	1.80	42.8%
VRSK	1.02	-396.1%	2.45	-25.4%
BAH	1.78	373.0%	2.80	14.9%
FCN	2.30	60.6%	1.81	47.4%
Industry median	1.48	92.5%	2.50	38.0%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
BVI	1.50	180.3%	1.38	24.2%
FGR	0.95	210.3%	2.35	18.3%
EN	0.94	116.0%	1.47	20.3%
VIE	0.86	474.8%	3.59	9.9%
LR	1.96	85.4%	2.00	42.5%
SGO	1.27	72.2%	1.87	40.3%
Industry median	1.48	92.5%	2.50	38.0%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q2 2025 · TTM

Key Figures

YoY change

Operating Cash Flow966.7 M €+20.4%

Capital Expenditures147 M €-6.7%

Free Cash Flow819.7 M €+27.1%

Dividends Paid-430 M €-208.5%

Peer Comparison· Consulting Services

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
BVI	14.9%	12.7%	2.3%	164.4%
EFX	26.0%	18.1%	7.9%	233.8%
ALQ	14.9%	7.0%	7.9%	155.2%
VRSK	44.5%	36.3%	8.2%	151.8%
BAH	9.3%	8.5%	0.8%	122.6%
FCN	7.9%	8.2%	0.4%	115.2%
Industry median	9.4%	8.3%	1.2%	133.1%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
BVI	14.9%	12.7%	2.3%	164.4%
FGR	13.3%	10.8%	2.5%	339.4%
EN	9.1%	4.7%	4.3%	426.8%
VIE	10.2%	3.8%	6.9%	371.2%
LR	16.6%	14.2%	2.4%	125.4%
SGO	12.1%	7.0%	3.5%	272.6%
Industry median	9.4%	8.3%	1.2%	133.1%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.