SQU Income Statement - Vinci SA

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Price: 110.9 EUR -0.14% Market Closed

Market Cap: €63.3B

V	Vinci SA F:SQU	FR
	Aspen Pharmacare Holdings Ltd OTC:APNHF	ZA
	Ameriprise Financial Inc NYSE:AMP	US
U	United Utilities Group PLC F:UUEA	UK
	Pirelli and C. S.p.a F:2PI	IT
U	United Airlines Holdings Inc XMUN:UAL1	US
3	3i Group PLC F:IGQ5	UK
C	Chipotle Mexican Grill Inc F:C9F	US
P	Pro Medicus Ltd F:PMC	AU

Financial profile · Q2 FY2026

A diversified infrastructure group pairing cash generation with sustained reinvestment

VINCI’s multi-year record shows a diversified model combining concessions, energy solutions and construction, supporting sustained revenue expansion and operating leverage. The group has remained cash generative while funding a substantial investment base and gradually reducing its share count through buybacks.

What is developing

The latest comparable results show operating income, net income, EPS and operating cash flow growing faster than revenue, while capital spending remains broadly stable. This improves current cash conversion and per-share economics without yet changing VINCI’s diversified, capital-intensive financial model.

What matters next

Whether TTM free cash flow remains above €8 billion while TTM capital spending stays near €3.9 billion.

Metric	FY2016 Dec 2016	FY2017 Dec 2017	FY2018 Dec 2018	FY2019 Dec 2019	FY2020 Dec 2020	FY2021 Dec 2021	FY2022 Dec 2022	FY2023 Dec 2023	FY2024 Dec 2024	FY2025 Dec 2025
Revenue	38.5B	40.9B	44.2B	48.8B	43.9B	50B	62.3B	69.6B	72.5B	75.4B
Cost of Revenue	(8.1B)	(8.6B)	(9.8B)	(10.4B)	(9.7B)	(10.7B)	(14.9B)	(15.8B)	(15.7B)	(15B)
Gross Profit	30.5B	32.3B	34.3B	38.4B	34.2B	39.3B	47.4B	53.8B	56.8B	60.4B
Operating Expenses	(26.5B)	(27.9B)	(29.6B)	(32.9B)	(31.6B)	(34.9B)	(41B)	(45.8B)	(48.2B)	(51.4B)
Selling, General & Administrative	(11.8B)	(12.2B)	(13.3B)	(14.7B)	(14.2B)	(15.3B)	(18.1B)	(19.7B)	(21.4B)	(22.8B)
Depreciation & Amortization	(2B)	(2.1B)	(2.2B)	(3B)	(3.2B)	(3.2B)	(3.6B)	(3.8B)	(4B)	(4.2B)
Other Operating Expenses	(12.7B)	(13.5B)	(14B)	(15.2B)	(14.3B)	(16.4B)	(19.2B)	(22.3B)	(22.8B)	(24.4B)
Operating Income	4B	4.4B	4.8B	5.4B	2.6B	4.4B	6.4B	8B	8.6B	9B
Net Interest Income (Expense)	(404m)	(237m)	(308m)	(314m)	(739m)	(552m)	(350m)	(866m)	(1.1B)	(1.1B)
Interest Expense	640m	567m	579m	753m	756m	720m	810m	1.1B	1.3B	1.4B
Non-Recurring Items	13m	27m	62m	5m	(13m)	(1m)	43m	(64m)	(21m)	91m
Total Other Income	(66m)	(34m)	(30m)	(80m)	(31m)	(30m)	56m	(88m)	(109m)	(87m)
Pre-Tax Income	3.6B	4.1B	4.5B	5B	1.8B	3.8B	6.2B	7B	7.4B	7.9B
Tax Provision	(1B)	(1.3B)	(1.4B)	(1.6B)	(807m)	(1.6B)	(1.7B)	(1.9B)	(2.1B)	(2.7B)
Income from Continuing Operations	2.5B	2.8B	3.1B	3.4B	1B	2.2B	4.4B	5.1B	5.3B	5.3B
Income to Minority Interest	(39m)	(90m)	(74m)	(148m)	226m	402m	(157m)	(400m)	(410m)	(372m)
Net Income	2.5B	2.7B	3B	3.3B	1.2B	2.6B	4.3B	4.7B	4.9B	4.9B
EPS (Diluted)	4.48	4.91	5.32	5.82	2.21	4.51	7.47	8.18	8.43	8.65