Short interest and trading figures
The September 30 short-interest total was 153,800 shares. The reported proportion of Bouygues stock sold short was approximately 0.0%. With average daily trading volume of 87 shares, the short-interest ratio stood at 3,235.2 days.
BOUYF opened Friday at $43.90, also the reported low and high for its 52-week range. Its simple moving averages were $53.17 over 50 days and $54.56 over 200 days.
Bouygues had a market capitalization of $83.18 billion, a price-to-earnings ratio of 11.55 and a beta of 0.48. Its debt-to-equity ratio was 0.62, while its quick and current ratios were 0.81 and 0.89, respectively.
Earnings and operating performance
Paris-based Bouygues operates in construction, energy and services, telecommunications and media. Francis Bouygues founded the group in 1952. Its construction businesses include Bouygues Construction, Bouygues Immobilier and Colas, covering building and civil engineering, property development, roads and infrastructure services.
In its latest quarterly earnings release on July 30, Bouygues reported $1.14 in earnings per share, exceeding the $0.95 consensus estimate by $0.19. Revenue of $16.11 billion also topped analysts' forecast of $15.90 billion. Return on equity was 8.64%, and the net margin was 2.22%.
For the first half of 2026, group sales totaled €26.3 billion, a year-over-year decline of 2.2%, or 1.3% at constant exchange rates. Current operating profit from activities (COPA) increased by €33 million to €829 million. Net profit attributable to the Group rose by €114 million to €287 million despite an exceptional French income tax surcharge of €35 million.
At the end of June, net debt was €6.5 billion, an improvement of €2 billion from a year earlier.
Equans, which Bouygues acquired from Engie in 2022, provides energy, facilities management and technical services. The unit's first-half margin from activities increased by 1.2 percentage points to 5.2%. Its backlog reached a record €27.6 billion at the end of June, up €1.7 billion year over year. Bouygues raised Equans' full-year margin target from 5% to at least 5.2%.
Proposed SFR acquisition and UBS assessment
Bouygues Telecom, which supplies mobile, fixed-line broadband and related communications services in France, is pursuing an acquisition of SFR with the Free-iliad Group and Orange. The three companies signed a memorandum of understanding with Altice France on June 6, 2026.
The proposal values the Altice France assets under consideration at a total enterprise value of €20.35 billion. Bouygues Telecom would account for about 42% of the purchase price, the Free-iliad Group for 31% and Orange for 27%. Completion is expected in the second half of 2027, subject to regulatory approvals, but Bouygues has cautioned that the transaction is not certain to proceed.
Using 2025 figures, Bouygues Telecom's proposed portion represents 52% of the sales of the assets being acquired, or about €4.1 billion, and 42% of their EBITDAaL, or about €1.0 billion.
Bouygues Telecom estimates that the transaction would deliver around €1 billion in annual EBITDAaL-Capex synergies. It expects to reach about 70% of the projected net annualized synergies by 2032, with the full effect in 2034. Estimated integration costs total €3.5 billion to €4 billion.
UBS cited the proposed deal when it began covering Bouygues on October 16 with a "buy" rating and a 12-month price target of €53.60, according to Investing.com via Yahoo Finance. The bank estimated that the acquisition could more than double Bouygues Telecom's equity free cash flow by 2034.
UBS described the recent share-price decline as a "compelling buying opportunity." It noted that Bouygues shares had fallen about 16% over the previous two months amid concerns about France's fiscal outlook.
TF1 charge ahead of November results
On October 30, 2026, Bouygues said it would write down its TF1 stake by €569 million, eliminating all goodwill associated with the investment. The non-cash charge will bring TF1's carrying value on the group's consolidated balance sheet to €2.0 billion as of September 30, 2026. That represents €9.67 per share, compared with €15.36 before the impairment.
Bouygues said the charge would be recorded in non-current profit or loss and would lower net profit attributable to the Group. It is not tax-deductible. The company said COPA, net debt, liquidity and investment capacity would be unaffected.
The group's financial calendar schedules its nine-month 2026 results for November 5, 2026, at 7:30 a.m. CET.
