Added to YB: 2026-05-25
Pitch date: 2026-05-21
UMG.AS [neutral]
Universal Music Group N.V.
-8.24%
current return
Author Info
No bio for this author
Company Info
Universal Music Group N.V. operates as a music company worldwide. The company operates through Recorded Music, Music Publishing, and Merchandising & Other segments.
Market Cap
EUR 34.4B
Pitch Price
EUR 20.51
Price Target
48.00 (+155%)
Dividend
2.74%
EV/EBITDA
16.17
P/E
22.60
EV/Sales
2.98
Sector
Entertainment
Category
special_situation
23.5x to 12x: How Bolloré Suppressed UMG’s Multiple by 50% While EBITDA Grew
UMG.AS (overview): Forward P/E compressed 50% from 23.5x to 12x over 11mo despite EBITDA growth & JPM raising PT from €41 to €48 (+20% AI premium). Bolloré family (28% stake via Odet→Bolloré SE→Vivendi pyramid) structurally incentivized to suppress price during consolidation—lower UMG = cheaper minority buyouts. Ackman resigned board after failed US listing push opposed Bolloré's accumulation. Catalysts: Paris Court ruling on mandatory Vivendi tender (May-Jun'26), Q2'26 streaming results, Drake deal renewal (late'27-mid'28). JPM sees 170% upside post-consolidation.
Read full article (8 min)