What Lagardere’s Half Year Results Tell You About The Business
Lagardere (ENXTPA:MMB) released half year results to June 30, 2026, reporting sales of €4,436 million and revenue of €4,466 million. Net income reached €31 million, with basic earnings per share of €0.22.
See our latest analysis for Lagardere.
The half year results arrived after a mixed period for Lagardere’s stock, with a 7 day share price return of 4.78% and a 90 day share price return of 3.86%, while the 1 year total shareholder return declined 4.72% and the 5 year total shareholder return declined 1.49%.
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Lagardere’s half year report and recent share price bounce at €18.84 put you at a crossroads: lean in after this move, or wait and hope for a cheaper entry as the valuation picture becomes clearer next.
Most Popular Narrative: 19.8% Undervalued
Lagardere's most followed narrative points to a fair value of €23.50 compared with the last close at €18.84, so the story currently prices in a sizeable gap between modelled worth and market price.
Active portfolio optimization, including cost discipline, business rationalization in low-performing geographies (like North Asia), and divestitures (e.g., Paris Match), continues to drive margin improvement and strengthen free cash flow, enhancing Lagardère's financial flexibility for future growth investments or further deleveraging.
Want to see what sits behind that valuation gap for Lagardere? The narrative leans on modest revenue growth, softer margins, and a richer future earnings multiple to justify its fair value.
Result: Fair Value of €23.50 (UNDERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, the Lagardere narrative can quickly change if regional travel retail weakness returns, or if high debt continues to limit how much the group can reinvest.
Find out about the key risks to this Lagardere narrative.
Another View On Lagardere’s Valuation
The earlier fair value of €23.50 comes from a narrative model built on long term earnings assumptions. Our P/E based view paints a different picture. Lagardere trades on a 12.8x P/E, above its fair ratio of 11.2x, yet below both the peer average of 30.5x and French Media at 15.5x. That mix of “locally expensive, sector cheap” raises a simple question: Is the risk here that expectations are too low or that they are already baked in?
See what the numbers say about this price — find out in our valuation breakdown.
Next Steps
Mixed signals on Lagardere so far. Given there are both risks and rewards in play, it pays to move quickly, review the data for yourself, and then weigh up the 1 key reward and 4 important warning signs.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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