Veolia (VIE.PA) stock forecast 2027–2029
What is the Veolia (VIE.PA) stock forecast?
Our forecast for Veolia
€32.25by November 2027
€37.12by November 2029
From €33.78 at the November 6, 2026 close, that is a 0 % gain by 2027 and 25 % by 2029, dividends included.
It blends three cases for November 2027, € per share:
- Bear25.1825 % chance
- Base33.0455 % chance
- Bull38.9020 % chance
Our own forecast, built from Veolia's filings. It is not an average of analysts' price targets, so it can differ from them.
New accounts get one company's ready report free. No card.
Executive summary + 8 chapters · 23,448 words · 208 sources
Veolia (VIE.PA) key numbers
Market value is what all the shares are worth together. P/E, price to profit, is how many years of expected profit the price equals. Dividend yield is a year of dividends as a share of the price.
- €24.7 billionmarket value
- 12.8xP/E on the profit our report expects over the next 12 months
- 4.4 %dividend yield
- Feb 17, 2027next results, expected
- €22.2 billionrevenue in the quarter to Jun 2026, +1 % on a year earlier
Prices and ratios: our report, at the November 6, 2026 close. Revenue: the company's own figures.
Where could Veolia's shares be by 2029?
The forecast puts Veolia at €32.25 in November 2027, including dividends, broadly unchanged from today’s €33.78. It reaches €34.44 in November 2028, a 12% total return, and €37.12 in November 2029, a 25% total return.
The November 2029 range is wide: €19.43 in the bear case to €56.38 in the bull case. The base case receives the highest probability at 55%, against 25% for bear and 20% for bull.
What has to go right or wrong for Veolia?
Earnings are the main driver. The base path rises from €1,936 million to €2,239 million by November 2029; the bear path falls from €1,758 million to €1,680 million; the bull path accelerates from €2,034 million to €2,576 million. The base reflects a record of rising adjusted income, confirmed minimum 2026 growth of 8% and expected Clean Earth accretion from 2027. The bear reflects delayed projects, slow collections and financing costs; the bull requires Water Technologies conversion, integration savings and disposals to improve margins and cash.
The base case gives €33.04 first and €38.16 last, with 55% probability. Existing services grow, Clean Earth contributes, seasonal working capital improves and leverage declines gradually. The earnings record, management guidance and dividend history support this as the central path, while capital needs prevent a higher multiple.
Bull case, 20 % chance: if it goes right
€56.38 by November 2029, +83 % with dividends.
Bear case, 25 % chance: if it goes wrong
€19.43 by November 2029, −30 % with dividends.
The next test: results expected February 17, 2027
How much cash does Veolia really make?
Cash from operations was €5.153 billion in 2025. Capital spending used €3.056 billion. Lease payments used €556 million, while interest paid used €764 million. The resulting free cash flow was €777 million. After the stock-pay deduction, real free cash flow was €718 million.
What does an investor pay for Veolia today?
Our report makes no buy or sell call.
- Enterprise valuethe price of all its shares minus the cash it holds beyond its debts€47.0 billion
- P/E, last 12 months19.6x
- Real free cash flow yield2.9%
Veolia earnings: how did the last quarter go?
Questions about Veolia (VIE.PA) stock
Where will Veolia stock be in 5 years?
Our report's forecast goes to November 2029. By then it puts the shares between €19.43 in the bear case and €56.38 in the bull case, and at €37.12 with the three cases weighted by their chances. It makes no forecast past November 2029.
When is Veolia's next earnings date?
Results are expected on February 17, 2027. Veolia earnings: the next date and the last eight quarters →
Does Veolia pay a dividend?
Yes. At the November 6, 2026 close, a year of dividends came to 4.4 % of the share price (our report). Veolia dividend →
Who are Veolia's competitors?
Our report compares Veolia with WM and United Utilities.
Why is this forecast different from analysts' price targets?
Analysts' price targets average the share prices that brokerage analysts expect. Our report builds its own three cases from Veolia's filings, gives each a chance and counts dividends.
More on Veolia (VIE.PA)
This page gives the forecast. The report gives the reasons.
The full report: an executive summary and 8 chapters, 23,448 words, 54 tables. Its first page opens here, no account needed.
How it is made: AI reads Veolia's filings, writes the report, checks the numbers against them and cites each source, 208 in this one. How we work · Corrections
Read Veolia's full report freeNew accounts get one company's ready report free. No card.
Information only, not investment advice. The forecast gives three cases with their chances; it promises no price. Prices are those of the date shown.