Vallourec (ENXTPA:VK) Valuation Check as New CFO Nathalie Delbreuve Prepares to Take Over

Vallourec (ENXTPA:VK) is back on investors radar after naming former Verallia finance chief Nathalie Delbreuve as its new CFO. This leadership shift could subtly reshape capital allocation and balance sheet strategy.

See our latest analysis for Vallourec.

The timing of Delbreuve’s arrival comes as Vallourec’s share price return has softened in recent months, even though the three and five year total shareholder returns remain strongly positive. This suggests long term investors still see a credible recovery story building.

If this leadership change has you thinking more broadly about where capital might work harder, it could be a good moment to explore aerospace and defense stocks for other cyclical, performance driven ideas.

With Vallourec trading below analyst targets yet already boasting a hefty multi year recovery, investors now face a key question: Is the market overlooking further upside, or sensibly pricing in the company’s next leg of growth?

Most Popular Narrative: 24.5% Undervalued

With Vallourec last closing at €15.33 versus a narrative fair value of €20.30, the story points to potential upside if its roadmap holds.

Recent cost reduction and operational excellence initiatives, especially in Brazil, are significantly ahead of schedule and exceeding targets, positioning Vallourec for structurally higher group margins and improved EBITDA from 2026 onward.

Read the complete narrative.

Curious how steady but unspectacular growth assumptions can still justify a sizeable re rating from here? The narrative focuses on expanding margins, disciplined balance sheet moves, and a richer earnings multiple than Vallourec commands today. Want to see exactly how those moving parts are combined to reach that higher fair value target?

Result: Fair Value of €20.30 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, structural oil demand shifts and Vallourec’s high fixed cost base could quickly squeeze margins and challenge the upbeat earnings and valuation narrative.

Find out about the key risks to this Vallourec narrative.

Build Your Own Vallourec Narrative

If you are not fully aligned with this view, or would rather dig into the numbers yourself, you can quickly build a personalised narrative in minutes: Do it your way

A great starting point for your Vallourec research is our analysis highlighting 5 key rewards and 1 important warning sign that could impact your investment decision.

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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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