Pierre et Vacances SA/€VAC
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Capital at risk
About Pierre et Vacances SA
Pierre et Vacances SA is a European tourism services company headquartered in Paris, France. It operates in the tourism and real estate development industries, primarily through the brands Pierre & Vacances, Center Parcs, and Adagio. The company provides holiday residences, resorts, and other tourist accommodations. Founded in 1967 by Gérard Brémond, Pierre et Vacances has developed a unique business model combining tourism and real estate. Its operations are largely concentrated in Europe, with a significant presence in France, the Netherlands, and Germany. The company has established a strong market position by leveraging its expertise in both the tourism and real estate sectors.
- Ticker
- €VAC
- Sector
- Consumer Discretionary
- Primary listing
- PAR
- Employees
- 9,174
- Headquarters
- Paris, France
- Website
- www.groupepvcp.com
VAC Metrics
BasicAdvanced
€850M
17.19
€0.11
1.74
-
Price and volume
Market cap
€850M
Beta
1.74
52-week high
€2.00
52-week low
€1.53
Average daily volume
132K
Financial strength
Current ratio
0.248
Quick ratio
0.248
Long term debt to equity
-7.382
Total debt to equity
-7.382
Interest coverage (TTM)
1.41%
Profitability
EBITDA (TTM)
328.137
Gross margin (TTM)
35.22%
Net profit margin (TTM)
2.92%
Operating margin (TTM)
14.04%
Effective tax rate (TTM)
12.97%
Revenue per employee (TTM)
€210,000
Management effectiveness
Return on assets (TTM)
4.90%
Return on equity (TTM)
-11.82%
Valuation
Price to earnings (TTM)
17.188
Price to revenue (TTM)
0.45
Price to book
-1.96
Price to tangible book (TTM)
-1.16
Price to free cash flow (TTM)
2.915
Free cash flow yield (TTM)
34.30%
Free cash flow per share (TTM)
0.632
Growth
Revenue change (TTM)
4.72%
Earnings per share change (TTM)
509.24%
3-year revenue growth (CAGR)
3.24%
10-year revenue growth (CAGR)
3.73%
3-year earnings per share growth (CAGR)
-55.35%
10-year earnings per share growth (CAGR)
-1.45%
Bulls say / Bears say
Tourism momentum remains positive: Q3 accommodation revenue increased 1.9%, occupancy improved by 1.9 percentage points, and management expects full-year tourism revenue to exceed the prior year. (Pierre & Vacances-Center Parcs)
Mubadala has signed a binding combination agreement at €1.90 per ordinary share with a potential €0.10 squeeze-out premium, while shareholders representing 80.13% of outstanding capital have committed to tender; this materially improves transaction visibility and provides a defined cash-exit catalyst. (Pierre & Vacances-Center Parcs)
First-half tourism revenue grew 6.0% across the group’s brands, supported by higher accommodation revenue, prices and nights sold, while management maintained an adjusted EBITDA target of €185 million for 2025/2026. (Euronext)
Pierre & Vacances reported a first-half adjusted EBITDA loss of €41.6 million, highlighting the group’s strong seasonality and the need for profitable execution in the second half. (Reuters)
Q3 accommodation revenue rose only 1.9% as higher occupancy was partly offset by the impact of VAT increases in Belgium and the Netherlands on Center Parcs pricing, creating pressure on revenue quality and margins. (Pierre & Vacances-Center Parcs)
The Mubadala transaction remains conditional: the offer is expected to be filed no later than Q1 2027 and still requires regulatory approvals, a motivated board opinion, shareholder approval of the €0.11 extraordinary distribution, and financing waivers. (Pierre & Vacances-Center Parcs)
Data summarised monthly by Lightyear AI. Last updated on 9 Sept 2026.
Upcoming events
No upcoming events
Funds containing VAC
AllEURGBP
Fund name | Fund size | €VAC weighting |
|---|---|---|
Xtrackers MSCI Europe Small Cap€DX2J | €3.2B | 0.02% |
Xtrackers MSCI Europe Small Cap£XXSC | £2.8B | 0.02% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.