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Publicis Groupe S.A.

PUB.PA
61
Advertising Agencies · Communication Services
Price
€102.35
+0.50 (+0.49%)
Market Cap
€25.63B
Exchange
Euronext Paris
Winston Score
61
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Mixed
Cash Flow
Exceptional
Stability
Strong
Valuation
Strong
Dividends
Strong

Winston Score History

The full picture

Publicis Groupe is one of the largest advertising and marketing companies in the world. It helps businesses get noticed by creating ads, managing social media, buying ad space, and running data-driven marketing campaigns. Its clients include major brands across consumer goods, healthcare, finance, and technology, and it owns well-known agency networks such as Saatchi & Saatchi, Leo Burnett, and Epsilon.

The company earns money by charging clients fees and retainers for its creative, media, and technology services. Publicis operates globally, with significant revenue coming from North America and Europe, and it generates roughly €13–14 billion in annual net revenue. Its main competitive advantage is Epsilon, a data and technology platform that helps clients target consumers more precisely than traditional agencies can. The key growth driver is continued demand for data-driven and AI-assisted marketing, but the main risk is that large clients may bring more marketing work in-house, reducing their reliance on outside agencies.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+3.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

-3.4% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

13.3%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

~8 months

€2.5B cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Publicis Groupe S.A. has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.7% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 251.7M (2021) → 253.3M (2025)

Score breakdown

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Quality

Profit per sale
Gross Margin
14.1%
Thin — 14.1% gross margin
Profit after running costs
Operating Margin
14.1%
Healthy — 14.1% operating margin
Return on the money invested
ROCE
18.5%
Strong — 18.5% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
+4.7%
Slow sales growth (+4.7% YoY)
Profit growth
EPS YoY
-5.1%
Earnings shrinking (-5.1% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
167%
Turns 167% of profit into real cash
Spare cash per sale
FCF Margin
14.1%
Converts sales into free cash efficiently (14.1%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

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Stability

What it owes vs what it owns
Debt / Equity
0.35
Conservative — low debt load (0.35)
Covers its interest
Interest Cover
12.70x
Comfortably covers interest (12.7x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
15.8x
Fair value — P/E 15.8

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
+4.2
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (15.8 → 11.6)

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Dividends

Dividend
Dividend Yield
3.77%
Moderate income — 3.77% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+159.0%
Dividend growing fast (159.0% YoY)

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