Ubisoft Entertainment S.A. (UBI.PA)

Ubisoft Entertainment S.A. (UBI.PA) — VMCI valuation read

Headline read on UBI.PA: VMCI of 50/100 versus a Technology sector median of 50. The 0-point below-median position is what makes Ubisoft Entertainment S.A. a relative-value laggard in the mid-cap cohort, before any pillar-level review.

Form 4 filings on UBI.PA: zero in the trailing 30 days. The absence of insider transactions is itself a data point, just a low-information one. The thesis runs on financials and price action until that changes.

**Investor frame.** Three reads on UBI.PA: value (UBI.PA trades at 17.0x earnings, 6% below the Technology median of 18.0x), quality (ROIC of 11.0% sits 1.0pp above the Technology median (10.0%)), and risk (net debt to EBITDA of 1.1x leaves covenant headroom). The value read also implies an EV/EBITDA gap of +4.0x against the Technology 12.0x baseline.

UBI.PA rose 1.4% over the trailing 7 days, with a +2.0% read on a 30-day basis.