- Assessing Whether Legrand (ENXTPA:LR) Still Offers Upside After Strong Recent Share Performance
May 11, 2026
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Recent performance signal behind the latest move in Legrand (ENXTPA:LR)
Legrand (ENXTPA:LR) has drawn fresh attention after a period of strong share performance, with the stock up about 5% over the past month and roughly 11% over the past 3 months.
See our latest analysis for Legrand.
Set against its 1-year total shareholder return of 49.27% and 5-year total shareholder return close to 100%, Legrand's recent share price momentum, including a 22.46% year to date share price return at €156.5, suggests investors are currently rewarding both recent execution and longer term compounding.
If you are watching how infrastructure and electrification themes play out beyond Legrand, it could be worth scanning for 36 power grid technology and infrastructure stocks
With Legrand trading close to analyst price targets and a value score of 1, the key question now is whether the recent strength leaves any upside on the table or if the market is already pricing in future growth.
Most Popular Narrative: 0.8% Undervalued
Legrand's widely followed narrative fair value of €157.79 sits just above the last close at €156.5, so the focus turns to what is baked into that view.
The analysts have a consensus price target of €157.79 for Legrand based on their expectations of its future earnings growth, profit margins and other risk factors. However, there is a degree of disagreement amongst analysts, with the most bullish reporting a price target of €180.0, and the most bearish reporting a price target of just €114.0.
Read the complete narrative.
Want to see what sits behind that tight gap between price and fair value? Revenue growth, margin shifts, and a future earnings multiple all interact in a way that is not obvious from the headline number.
Result: Fair Value of €157.79 (ABOUT RIGHT)
Have a read of the narrative in full and understand what's behind the forecasts.
However, there is still a real risk that a slowdown in data center demand, or pressure from tariffs and trade policies, could quickly challenge today’s tight fair value gap.
Find out about the key risks to this Legrand narrative.
Another Way To Look At Valuation
The analyst fair value of €157.79 lines up closely with the current price, but the P/E ratio of 31.8x tells a more cautious story. It sits above the European Electrical industry at 27.4x and above a fair ratio of 25.6x, and only below peers at 39.2x. This suggests there may be less room for disappointment if growth or margins slip.
Story Continues
When one approach says “about right” and another leans expensive, it raises the question of which signal you might want to prioritize when forming your own thesis.
See what the numbers say about this price — find out in our valuation breakdown.ENXTPA:LR P/E Ratio as at May 2026
Next Steps
With sentiment this mixed, it helps to look past the headline ratios and walk through the data yourself so your view is grounded in your own reasoning, especially with both risk and reward signals in play, including 3 key rewards and 1 important warning sign
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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.
Companies discussed in this article include LR.PA.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- How The Legrand (ENXTPA:LR) Investment Story Is Shifting As Analyst Views Diverge
May 10, 2026
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Legrand’s updated fair value estimate of €157.79, compared with €152.79 previously, sits against a backdrop of Street targets that cluster from about €155 to €175. Bullish analysts pointing to levels around €175 and more cautious voices closer to €155 help explain why the price target debate has become more active. As you read on, you will see how to interpret these moving targets and keep track of how the story around Legrand is evolving.
Stay updated as the Fair Value for Legrand shifts by adding it to your watchlist or portfolio. Alternatively, explore our Community to discover new perspectives on Legrand.
What Wall Street Has Been Saying
🐂 Bullish Takeaways
JPMorgan and Citi have each set price targets at €175 for Legrand, which sits at the upper end of the current Street range and signals confidence in the stock’s valuation versus their own assessment of its fundamentals. JPMorgan keeps an Overweight rating alongside the higher target, and Citi keeps a Buy rating, indicating that both firms see room for the investment case to work over time despite differing views elsewhere on the Street.
🐻 Bearish Takeaways
Kepler Cheuvreux moved Legrand to Hold from Buy while still lifting its target to €155, citing valuation, which suggests concern that the current price already reflects much of the near term upside. Barclays and Evercore ISI both adopt more cautious stances, with Barclays downgrading the stock and Evercore ISI starting coverage with a neutral view. They highlight execution and growth risks that, in their view, limit the risk reward balance at recent levels.
Do your thoughts align with the Bull or Bear Analysts? Perhaps you think there's more to the story. Head to the Simply Wall St Community to discover more perspectives!ENXTPA:LR 1-Year Stock Price Chart
We've flagged 1 risk for Legrand. See which could impact your investment.
What's in the News
Legrand has scheduled a board meeting on February 11, 2026 to consider and adopt its consolidated financial statements for 2025. The board plans to propose a €2.38 per share dividend for 2025 at the May 27, 2026 shareholders meeting, described as an 8.2% rise from 2024 with a 50% payout ratio, with an ex dividend date of May 29 and payment on June 2, 2026. Legrand has issued full year 2026 earnings guidance that points to expected sales growth excluding currency effects of between 10% and 15%. A board meeting is set for May 6, 2026 to approve first quarter 2026 financial statements, followed by a special shareholders meeting and Analyst and Investor Day in Paris on May 27, 2026.
Story Continues
How This Changes the Fair Value For Legrand
Fair value set at €157.79, compared with €152.79 previously, a change of about 3.3%. Revenue growth assumption at 9.16%, compared with 9.03% previously. Net profit margin assumption at 14.24%, compared with 13.93% previously. Future P/E multiple at 30.05x, compared with 30.16x previously. Discount rate at 9.88%, compared with 9.27% previously.
Never Miss an Update: Follow The Narrative
Narratives link a company’s business story to a financial forecast and fair value, so you can see how headlines and assumptions connect. They refresh as new data and research come through, helping you keep track of what has actually changed.
Head over to the Simply Wall St Community and follow the Narrative on Legrand to stay up to date on:
How demand for data centers, digital infrastructure and smart building solutions feeds into Legrand’s revenue and margin expectations. The role of acquisitions, electrification and energy efficiency products in broadening Legrand’s reach and earnings base. Key risks around dependence on data center growth, trade and tariff exposure, weak construction markets and the effort needed to keep products competitive.
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.
Companies discussed in this article include LR.PA.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Crown Affair Announces Series C Investment Led by Stride Consumer Partners
May 8, 2026
NEW YORK, May 8, 2026 /PRNewswire/ -- Crown Affair, the modern haircare brand recognized for its clean, high-performing formulas and emphasis on thoughtful rituals, announced its Series C investment led by Stride Consumer Partners—marking an important milestone in the company's ongoing growth.Crown Affair
The round consists primarily of secondary capital and reflects a long-standing relationship between Crown Affair and Stride. Stride Consumer's Operating Partner, Nicole Fourgoux, has always been an admirer of Crown Affair, following the brand since its inception and waiting for the right moment to formally cement a partnership. Nicole added "This investment represents a shared belief in Crown Affair's vision and a deep alignment in building a thoughtful, enduring brand within the haircare category. With its elevated, minimalist, and ritual-driven positioning, Crown Affair is particularly well suited to capture the shift toward the skinification of hair, where consumers are seeking more holistic efficacy, intention, and long-term care."
The funding comes at a pivotal moment for Crown Affair, as the company deepens its relationship with Sephora following a recent expansion into all retail doors nationwide. This growth underscores the brand's ability to not only launch but sustain high-performing hero products, demonstrating a commitment to creating timeless essentials, rather than chasing short-lived trends.
Crown Affair's long time investment partner, True Beauty Ventures, has been instrumental throughout the brand's growth and will continue to collaborate. Crown Affair remains focused on scaling deliberately and sustainably, guided by its mission, vision, and core philosophy. The company will continue to prioritize product integrity, community, and long-term brand building.
With this new partnership, Crown Affair is well-positioned to build on its momentum while staying true to the principles that have defined the brand since day one.
Crown Affair CEO, Elaine Choi, notes "Who you partner with matters as much as what you build. What drew us to Stride was their genuine understanding of our vision and the category we're helping define — and what's been remarkable is how naturally aligned we've felt from the start, on vision, on values, on what it means to build something lasting. We're excited to step into this next chapter together." Founder, Dianna Cohen, adds "I started Crown Affair with a simple belief: that the way you care for your hair can be something you actually look forward to — a moment that's yours, that transforms how you show up in the world. Watching that resonate with so many people, and now seeing Crown Affair reach them at scale through Sephora, has been one of the more rewarding parts of this journey. This partnership with Stride means we get to bring that ritual to even more people— and that's exactly what we set out to do. We're proud to have a partner who is as intentional about this as we are."
Story Continues
Brittany Sperling, Principal at Stride Consumer Partners added, "We were immediately drawn to the strength of the Crown Affair team—an incredibly talented group that has built a timeless, beloved brand supported by deep customer loyalty and best-in-class products. We are excited to partner with Dianna and Elaine and the rest of the team at Crown Affair as they continue to elevate everyday haircare into a meaningful self-care ritual."
Foley & Lardner served as the legal advisor to Crown Affair. Ropes & Gray served as the legal advisor to Stride Consumer Partners.
About Crown Affair
Crown Affair is a modern haircare brand redefining the relationship people have with their hair. With a focus on intentional rituals, high-performance clean formulations, and handcrafted tools, Crown Affair empowers individuals to create meaningful self-care routines. Founded by Dianna Cohen in 2020, Crown Affair is available online and in Sephora stores across the U.S., offering an elevated experience for consumers seeking mindful haircare solutions.
About Stride Consumer Partners
Stride is a private equity firm that specializes in partnering with talented and dynamic founders, entrepreneurs, and business leaders to build the next generation of great consumer brands. Founded by a passionate group of experienced investor-operators, Stride's unique approach brings together a fully integrated team of successful investors working alongside seasoned operators to assist high-growth and disruptive consumer products and services businesses to hit their stride. Together, Stride supports its partners on their journey as they take decisive steps toward delivering on their vision. Within consumer, the firm focuses on the following areas of expertise: beauty & personal care, food and beverage, active lifestyle and multi-unit consumer services. The Stride team has had the pleasure of working side-by-side with the founders and teams of Chomps, Crown Affair, Odele Beauty, Patrick Ta, Peachy, Serenity Kids, Skinfix and Truewerk. For more information, please visit Stride Consumer Partners website.Cision
View original content to download multimedia:https://www.prnewswire.com/news-releases/crown-affair-announces-series-c-investment-led-by-stride-consumer-partners-302766290.html
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- Release of Legrand’s Consolidated Financial Statements as of March 31, 2026
May 7, 2026
LIMOGES, France, May 07, 2026--(BUSINESS WIRE)--Regulatory News:
Legrand (Paris:LR) indicates that its consolidated financial statements for first-quarter 2026 are available as from today, at: https://www.legrand.com
Key financial dates
General Meeting of Shareholders : May 27, 2026 Ex-dividend date : May 29, 2026 Dividend payment : June 2, 2026 2026 first-half results : July 29, 2026 "Quiet period1" starts : June 29, 2026 Capital Markets Day in Singapore : September 29, 2026
About Legrand Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for residential, commercial, and datacenter markets makes it a benchmark for customers worldwide.
The Group harnesses technological and societal trends with lasting impacts on buildings with the purpose of improving life by transforming the spaces where people live, work and meet with electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable.
Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing a strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings that include products with enhanced value in use.
Legrand reported sales of €9.5 billion in 2025. The company is listed on Euronext Paris and is a component stock of the CAC 40, CAC 40 ESG and CAC Transition Climat indexes (code ISIN FR0010307819).
https://www.legrand.com
The reader is invited to verify authenticity of press releases by Legrand with the CertiDox app. More information on www.certidox.com
1 Period of time when all communication is suspended in the run-up to publication of results
View source version on businesswire.com: https://www.businesswire.com/news/home/20260506891640/en/
Contacts
Investor relations & financial communication
Ronan MARC (Legrand)
+33 1 49 72 53 53
ronan.marc@legrand.com
Press relations
Lucie DAUDIGNY (TBWA)
+33 6 77 20 71 11
lucie.daudigny@tbwa-corporate.com
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- Legrand: Unaudited Consolidated Financial Information as of March 31, 2026
May 7, 2026
LIMOGES, France, May 07, 2026--(BUSINESS WIRE)--Regulatory News:
Legrand (Paris:LR):
Consolidated statement of income
Consolidated balance sheet
Consolidated statement of cash flows
Notes
Consolidated statement of income
3 months ended (in € millions) March 31, 2026 March 31, 2025 Net sales 2,537.6 2,277.8 Operating expenses Cost of sales (1,255.6) (1,083.8) Administrative and selling expenses (650.9) (611.6) Research and development costs (105.7) (104.0) Other operating income (expenses) (40.2) (44.2) Operating profit 485.2 434.2 Financial expenses (47.5) (37.9) Financial income 15.4 17.6 Exchange gains (losses) 1.2 (5.1) Financial profit (loss) (30.9) (25.4) Profit before tax 454.3 408.8 Income tax expense (118.2) (114.5) Share of profits (losses) of equity-accounted entities 0.0 0.0 Profit for the period 336.1 294.3 Of which: - Net profit attributable to the Group 334.9 293.3 - Minority interests 1.2 1.0 Basic earnings per share (euros) 1.281 1.119 Diluted earnings per share (euros) 1.264 1.111
Consolidated balance sheet
ASSETS
(in € millions) March 31, 2026 December 31, 2025 Non-current assets Intangible assets 2,580.4 2,587.3 Goodwill 8,327.3 7,629.7 Property, plant and equipment 961.5 970.9 Right-of-use assets 406.2 410.3 Investments in equity-accounted entities 0.0 0.0 Other investments 27.8 27.2 Other non-current assets 185.1 187.2 Deferred tax assets 211.1 210.8 TOTAL NON CURRENT ASSETS 12,699.4 12,023.4 Current assets Inventories (Note 4) 1,586.6 1,466.7 Trade receivables (Note 5) 1,490.4 1,226.9 Income tax receivables 112.3 158.9 Other current assets 361.2 334.9 Other current financial assets 1.9 0.8 Cash and cash equivalents 1,940.1 2,381.2 TOTAL CURRENT ASSETS 5,492.5 5,569.4 TOTAL ASSETS 18,191.9 17,592.8
LIABILITIES
(in € millions) March 31, 2026 December 31, 2025 Equity Share capital (Note 6) 1,049.0 1,049.0 Retained earnings 7,412.0 7,119.7 Translation reserves (724.7) (874.5) Equity attributable to equity holders of Legrand 7,736.3 7,294.2 Minority interests 33.2 39.8 TOTAL EQUITY 7,769.5 7,334.0 Non-current liabilities Long-term provisions 181.9 177.9 Provisions for post-employment benefits 122.7 125.3 Long-term borrowings (Note 7) 6,305.7 6,059.3 Deferred tax liabilities 1,005.8 1,012.0 TOTAL NON-CURRENT LIABILITIES 7,616.1 7,374.5 Current liabilities Trade payables 1,174.6 1,064.0 Income tax payables 91.8 55.3 Short-term provisions 159.8 162.1 Other current liabilities 1,074.7 1,058.3 Short-term borrowings (Note 7) 304.9 544.5 Other current financial liabilities 0.5 0.1 TOTAL CURRENT LIABILITIES 2,806.3 2,884.3 TOTAL EQUITY AND LIABILITIES 18,191.9 17,592.8
Consolidated statement of cash flows
3 months ended (in € millions) March 31, 2026 March 31, 2025 Profit for the period 336.1 294.3 Adjustments for non-cash movements in assets and liabilities: – Depreciation and impairment of tangible assets 35.7 33.8 – Amortization and impairment of intangible assets 35.8 33.3 – Amortization and impairment of capitalized development costs 6.4 5.4 – Depreciation and impairment of right-of-use assets 24.8 21.4 – Amortization of financial expenses 1.3 1.3 – Impairment of goodwill 0.0 0.0 – Changes in long-term deferred taxes (8.8) 2.0 – Changes in other non-current assets and liabilities 9.0 7.7 – Unrealized exchange (gains)/losses 1.2 (0.1) – Share of (profits) losses of equity-accounted entities 0.0 0.0 – Other adjustments 9.2 7.0 – Net (gains)/losses on sales of activities and assets 0.2 0.2 Changes in working capital requirement: – Inventories (Note 4) (106.2) (86.6) – Trade receivables (Note 5) (250.5) (241.7) – Trade payables 99.3 74.5 – Other operating assets and liabilities 63.3 68.5 Net cash from operating activities 256.8 221.0 – Net proceeds on asset disposals 0.6 0.3 – Capital expenditure (30.2) (26.5) – Capitalized development costs (6.2) (6.7) – Changes in non-current financial assets and liabilities 2.6 (0.5) – Acquisitions and disposals of subsidiaries, net of cash (522.3) (111.8) Net cash from investing activities (555.5) (145.2) – Proceeds from issues of share capital and premium (Note 6) 0.0 0.0 – Net sales/(buybacks) of treasury shares and transactions under the liquidity contract (Note 6) (39.7) (2.2) – Dividends paid to equity holders of Legrand 0.0 0.0 – Dividends paid by Legrand subsidiaries 0.0 0.0 – Proceeds from long-term financing 250.0 500.0 – Repayment of long-term financing* (Note 7) (24.8) (21.1) – Debt issuance costs 0.0 (5.5) – Increase/(reduction) in short-term financing (328.1) (325.9) – Acquisitions of ownership interests with no gain of control (10.7) 0.0 Net cash from financing activities (153.3) 145.3 Translation net change in cash and cash equivalents 10.9 (13.5) Increase/(decrease) in cash and cash equivalents (441.1) 207.6 Cash and cash equivalents at the beginning of the period 2,381.2 2,080.7 Cash and cash equivalents at the end of the period 1,940.1 2,288.3 Items included in cash flows: – Interest paid during the period** 25.7 18.3 – Income taxes paid during the period 46.5 44.7
* Of which €23.6 million corresponding to lease financial liabilities repayment for the 3 months ended March 31, 2026 (€21.2 million for the 3 months ended March 31, 2025). ** Interest paid is included in the net cash from operating activities; of which €4.7 million interest on lease financial liabilities for the 3 months ended March 31, 2026 (€3.5 million for the 3 months ended March 31, 2025).
Notes
KEY FIGURES
NOTE 1 - INTRODUCTION NOTE 2 - SIGNIFICANT TRANSACTIONS AND EVENTS FOR THE PERIOD NOTE 3 - CHANGES IN THE SCOPE OF CONSOLIDATION NOTE 4 - INVENTORIES NOTE 5 - TRADE RECEIVABLES NOTE 6 - SHARE CAPITAL NOTE 7 - LONG-TERM AND SHORT-TERM BORROWINGS NOTE 8 - SEGMENT INFORMATION NOTE 9 - SUBSEQUENT EVENTS
KEY FIGURES
(in € millions) 3 months ended
March 31, 2026 3 months ended
March 31, 2025 Net sales 2,537.6 2,277.8 Adjusted operating profit 524.7 470.4 As % of net sales 20.7% 20.7% 20.5% before acquisitions ⁽¹⁾ Operating profit 485.2 434.2 As % of net sales 19.1% 19.1% Net profit attributable to the Group 334.9 293.3 As % of net sales 13.2% 12.9% Free cash flow 221.0 188.1 As % of net sales 8.7% 8.3% Net financial debt at March 31 4,670.5 3,031.6 (1) At 2025 scope of consolidation.
Adjusted operating profit is defined as operating profit adjusted for amortization and depreciation of revaluation of assets at the time of acquisitions and for other P&L impacts relating to acquisitions, and, where applicable, impairment of goodwill.
Story Continues
Free cash flow is defined as the sum of net cash from operating activities and net proceeds on asset disposals, less capital expenditure and capitalized development costs.
Net financial debt is defined as the sum of short-term borrowings and long-term borrowings, less cash and cash equivalents and marketable securities.
The reconciliation of consolidated key figures with the financial statements is available in the appendices to the first three months 2026 results press release.
NOTE 1 - INTRODUCTION
This unaudited consolidated financial information is presented for the 3 months ended March 31, 2026. It does not include all the information required by International Financial Reporting Standards (IFRS) and it should be read in conjunction with consolidated financial statements for the year ended December 31, 2025, as presented in the Universal Registration Document deposited under visa no D.26-0231 with the French Financial Markets Authority (AMF) on April 8, 2026.
All the amounts are presented in millions of euros unless otherwise indicated. Some totals may include rounding differences.
The unaudited consolidated financial information has been prepared in accordance with the International Financial Reporting Standards (IFRS) and International Financial Reporting Interpretations Committee (IFRIC) interpretations adopted by the European Union and applicable or authorized for early adoption from January 1, 2026.
The IFRS standards issued by the International Accounting Standards Board (IASB) that have not been adopted for use in the European Union are not applicable to the Group.
NOTE 2 - SIGNIFICANT TRANSACTIONS AND EVENTS FOR THE PERIOD
None.
NOTE 3 - CHANGES IN THE SCOPE OF CONSOLIDATION
The contributions to the Group’s consolidated accounts of companies acquired since the end of 2024 were as follows:
2025 March 31 June 30 September 30 December 31 Full consolidation method APP Balance sheet only 6 months' profit 9 months' profit 12 months' profit Power Bus Way Balance sheet only 6 months' profit 9 months' profit 12 months' profit Performation Balance sheet only Balance sheet only Balance sheet only 11 months' profit Computer Room Solutions Balance sheet only Balance sheet only Balance sheet only 9 months' profit Linkk Busway Systems Balance sheet only 6 months' profit Amperio Project Balance sheet only Balance sheet only Quitérios Balance sheet only 5 months' profit Cogelec Balance sheet only Avtron Power Solutions 2 months' profit
2026 March 31 Full consolidation method APP 3 months' profit Power Bus Way 3 months' profit Performation 3 months' profit Computer Room Solutions 3 months' profit Linkk Busway Systems 3 months' profit Amperio Project 3 months' profit Quitérios 3 months' profit Cogelec Balance sheet only Avtron Power Solutions 3 months' profit Green4T Balance sheet only Kratos Industries Balance sheet only TES Balance sheet only
During the first three months of 2026, the main acquisitions were as follows:
Green4T, a Brazilian specialist in the installation, maintenance and operation of technical infrastructure for datacenters. Based in São Paulo, Green4T employs nearly 750 people and generates annual sales of around €45 million;
Kratos Industries, a U.S. specialist in low and medium voltage power distribution systems. Based in Denver, Colorado, in the United States, Kratos Industries employs nearly 325 people and generates annual sales of around $100 million;
TES, a European specialist in power distribution systems. Based in Cookstown, United Kingdom, the company employs 280 people and generates close to €85 million in annual revenue.
NOTE 4 - INVENTORIES
Inventories are as follows:
(in € millions) March 31, 2026 December 31, 2025 Purchased raw materials and components 726.0 686.9 Sub-assemblies, work in progress 293.0 246.4 Finished products 850.3 801.4 Gross value at the end of the period 1,869.3 1,734.7 Impairment (282.7) (268.0) NET VALUE AT THE END OF THE PERIOD 1,586.6 1,466.7
NOTE 5 - TRADE RECEIVABLES
Trade receivables are as follows:
(in € millions) March 31, 2026 December 31, 2025 Trade receivables 1,595.6 1,329.4 Impairment (105.2) (102.5) NET VALUE AT THE END OF THE PERIOD 1,490.4 1,226.9
NOTE 6 - SHARE CAPITAL
Share capital as of March 31, 2026, amounted to €1,048,982,932 represented by 262,245,733 ordinary shares with a par value of €4 each, for 262,245,733 theoretical voting rights and 261,364,529 exercisable voting rights (after subtracting shares held in treasury by the Group as of this date).
Changes in share capital in the first 3 months of 2026 were as follows:
Number of shares Par value Share capital (euros) Premiums (euros) As of December 31, 2025 262,245,733 4 1,048,982,932 110,351,249 As of March 31, 2026 262,245,733 4 1,048,982,932 110,351,249
As of March 31, 2026, the Group held 881,204 shares in treasury, versus 612,474 shares as of December 31, 2025, i.e. 268,730 additional shares corresponding to:
the net acquisition of 250,000 shares outside of the liquidity contract at a cost of €37.4 million mainly for transfer under performance share plans and employee share ownership plans;
the net purchase of 18,730 shares under the liquidity contract that led to a cash outflow of €2.3 million.
Number of shares of which number of
shares held by the Group As of December 31, 2025 262,245,733 612,474 Transfer to employees Share buybacks 250,000 Transactions under the liquidity contract 18,730 Shares cancellation As of March 31, 2026 262,245,733 881,204 of which for transfer to employees 798,624 of which liquidity contract 82,580 of which for shares cancellation
NOTE 7 - LONG-TERM AND SHORT-TERM BORROWINGS
7.1 LONG-TERM BORROWINGS
Long-term borrowings can be analyzed as follows:
(in € millions) March 31, 2026 December 31, 2025 Negotiable commercial paper 500.0 321.5 Bonds 5,037.9 5,034.5 Lease financial liabilities 340.8 344.5 Other borrowings 460.8 393.8 Long-term borrowings excluding debt issuance costs 6,339.5 6,094.3 Debt issuance costs (33.8) (35.0) TOTAL 6,305.7 6,059.3
7.2 SHORT-TERM BORROWINGS
Short-term borrowings can be analyzed as follows:
(in € millions) March 31, 2026 December 31, 2025 Negotiable commercial paper 141.5 0.0 Bonds 0.0 400.0 Lease financial liabilities 91.1 89.1 Other borrowings 72.3 55.4 TOTAL 304.9 544.5
NOTE 8 - SEGMENT INFORMATION
In accordance with IFRS 8, operating segments are determined based on the reporting made available to the chief operating decision maker of the Group and to the Group's management.
Given that Legrand’s activities are carried out locally, the Group is organized for management purposes by countries or groups of countries which have been allocated for internal reporting purposes into three operating segments:
Europe, mainly including Benelux, France, Germany, Iberia (Portugal and Spain), Ireland, Italy, Poland, Scandinavia, Turkey, and the United Kingdom;
North and Central America, including Canada, Mexico, the United States, and Central American countries; and
Rest of the World, including Australia, China, India, Malaysia and South America (in particular Brazil, Chile and Colombia).
These three operating segments are under the responsibility of three segment managers who are directly accountable to the chief operating decision maker of the Group.
3 months ended March 31, 2026 (in € millions) Europe North and
Central
America Rest of the
World Total Net sales to third parties 996.1 1,152.1 389.4 2,537.6 Cost of sales (447.2) (577.4) (231.0) (1,255.6) Administrative and selling expenses, R&D costs (337.9) (321.0) (97.7) (756.6) Other operating income (expenses) (20.3) (17.6) (2.3) (40.2) Operating profit 190.7 236.1 58.4 485.2 - of which acquisition-related amortization, expenses and income · accounted for in administrative and selling expenses, R&D costs (12.7) (24.4) (2.4) (39.5) · accounted for in other operating income (expenses) 0.0 0.0 0.0 0.0 - of which goodwill impairment 0.0 0.0 0.0 0.0 Adjusted operating profit 203.4 260.5 60.8 524.7 - of which depreciation and impairment of tangible assets (21.1) (6.6) (7.9) (35.6) - of which amortization and impairment of intangible assets (3.7) (0.2) (0.3) (4.2) - of which amortization and impairment of development costs (6.1) 0.0 (0.3) (6.4) - of which amortization and impairment of right-of-use assets (9.8) (8.6) (6.4) (24.8) - of which restructuring costs (4.4) (2.7) (2.0) (9.1) Capital expenditure (14.0) (7.8) (8.4) (30.2) Capitalized development costs (5.7) 0.0 (0.5) (6.2) Net tangible assets 591.0 196.4 174.1 961.5 Total current assets 2,868.8 1,607.7 1,016.0 5,492.5 Total current liabilities 1,445.1 845.0 516.2 2,806.3
3 months ended March 31, 2025 (in € millions) Europe North and
Central
America Rest of the
World Total Net sales to third parties 974.0 940.5 363.3 2,277.8 Cost of sales (433.2) (446.9) (203.7) (1,083.8) Administrative and selling expenses, R&D costs (318.5) (301.1) (96.0) (715.6) Other operating income (expenses) (14.8) (22.3) (7.1) (44.2) Operating profit 207.5 170.2 56.5 434.2 - of which acquisition-related amortization, expenses and income · accounted for in administrative and selling expenses, R&D costs (12.2) (21.9) (2.1) (36.2) · accounted for in other operating income (expenses) 0.0 0.0 0.0 0.0 - of which goodwill impairment 0.0 0.0 0.0 0.0 Adjusted operating profit 219.7 192.1 58.6 470.4 - of which depreciation and impairment of tangible assets (20.0) (6.5) (7.2) (33.7) - of which amortization and impairment of intangible assets (3.2) (0.4) (0.6) (4.2) - of which amortization and impairment of development costs (5.0) 0.0 (0.4) (5.4) - of which amortization and impairment of right-of-use assets (8.5) (7.7) (5.3) (21.5) - of which restructuring costs (6.4) (6.4) (3.9) (16.7) Capital expenditure (14.4) (7.6) (4.5) (26.5) Capitalized development costs (6.3) 0.0 (0.4) (6.7) Net tangible assets 570.5 168.8 153.4 892.7 Total current assets 3,417.0 1,209.0 830.7 5,456.7 Total current liabilities 1,704.8 632.6 476.7 2,814.1
NOTE 9 - SUBSEQUENT EVENTS
In April 2026, Legrand achieved the acquisition of Keydak, a leading Chinese rack manufacturer based in Guangzhou. The company employs more than 330 people and generates annual revenue of more than €60 million.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260506162217/en/
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Legrand
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- Legrand: 2026 First-quarter Results
May 7, 2026
Legrand delivers strong +18% sales growth (excl. currency effects)
and excellent profitability in the first quarter of 2026
Organic sales growth: +9.3%, and growth through acquisitions: +8.2%
Adjusted operating margin after acquisitions: 20.7%
Net profit attributable to the Group: +14.2%
4 acquisitions in datacenters and energy transition
since the beginning of the year
2026 full-year targets confirmed
LIMOGES, France, May 07, 2026--(BUSINESS WIRE)--Regulatory News:
Benoît Coquart, Legrand’s (Paris:LR) Chief Executive Officer, commented:
"Our first-quarter 2026 sales delivered strong growth of +18% excluding currency effects, driven by datacenters and acquisitions. Our financial results remain very solid, demonstrating our ability to combine growth with financial and operational discipline. We continue to execute our strategic plan methodically. In the first quarter, we completed four acquisitions in datacenters and energy transition, while continuing to roll out our product innovation and customer service initiatives. The great success of our second international employee share ownership plandemonstrates the full commitment of the Group’s teams to Legrand’s strategic roadmap. Confident in our execution capabilities and our ability to adapt in an increasingly uncertain economic environment, we confirm our 2026 targets. Finally, we are pleased to announce that our next Investor Day will be held in Singapore on September 29, 2026."
2026 full-year targets confirmed1
In 2026, the Group will continue to accelerate its profitable and responsible growth, in line with its strategic roadmap2. Taking into account the current global macroeconomic environment, Legrand is targeting the following in 2026:
- sales growth (excluding currency effects) of between +10% and +15%, comprising organic growth of between +4% and +7%, and growth through acquisitions of between +6% and +8%;
- adjusted operating margin (after acquisitions) of 20.5% to 21.0% of sales;
- a CSR achievement rate of at least 100% for the second year of its 2025-2027 roadmap3.
Financial performance at March 31, 2026
Key figures
Consolidated data
(€ millions)(1) 1st quarter 2025 1st quarter 2026 Change Sales 2,277.8 2,537.6 +11.4% Adjusted operating profit 470.4 524.7 +11.5% As % of sales 20.7% 20.7% 20.5% before acquisitions(2) Operating profit 434.2 485.2 +11.7% As % of sales 19.1% 19.1% Net profit attributable to the Group 293.3 334.9 +14.2% As % of sales 12.9% 13.2% Free cash flow 188.1 221.0 +17.5% As % of sales 8.3% 8.7% Net financial debt at March 31 3,031.6 4,670.5 +54.1%
(1) See appendices to this press release for definitions and indicator reconciliation tables
(2) At 2025 scope of consolidation
Story Continues
Consolidated sales
In the first quarter of 2026, sales grew +11.4% from the same period of 2025, to reach €2,537.6 million. Organic sales growth was +9.3% for the period, with no significant impact from the geopolitical environment in the Middle East.
The impact of broader scope of consolidation was +8.2% in the first quarter of 2026. Based on acquisitions announced and their likely dates of consolidation, their overall impact would be close to +7% full year.
The exchange-rate effect on sales in the first quarter of 2026 was -5.8%. Based on average exchange rates in April 2026, the full-year effect would be around -2% in 2026.
Changes in sales by destination at constant scope of consolidation and exchange rates by region:
1st quarter 2026 / 1st quarter 2025 Europe -2.8% North and Central America +25.8% Rest of the world -1.8% Total +9.3%
These changes are analyzed below by geographical region:
- Europe (36.3% of Group revenue): In a still contrasted building market, sales at constant scope of consolidation and exchange rates were down -2.8% in the first quarter. Growths notably in Germany and Italy were not sufficient to offset the declines in France, Spain or the United Kingdom.
- North and Central America (46.1% of Group revenue): Sales increased by +25.8% from the first quarter of 2025 at constant scope of consolidation and exchange rates.
In the United States alone (43.4% of Group revenue), sales rose a sharp +29.1%, driven by success of datacenter-related offerings.
Sales declined in both Mexico and Canada.
- Rest of the world (17.6% of Group revenue): Sales at constant scope of consolidation and exchange rates declined by -1.8% in the first quarter.
In Asia-Pacific (11.6% of Group revenue), sales were down -3.0% in the quarter, as significant growth in India and Australia failed to offset the retreat in China and Malaysia.
In Africa and the Middle East (3.1% of Group revenue), revenue rose by +13.1% in the first quarter, with growth in the Middle East, despite the geopolitical situation, and in Africa.
In South America (2.9% of Group revenue), sales declined by -9.9% in the first quarter.
Adjusted operating profit and margin
Adjusted operating profit stood at €524.7 million, up +11.5% from the first quarter of 2025. This corresponds to an adjusted operating margin equal to 20.7% of sales, stable compared to the first quarter of 2025.
In the first quarter of 2026, EBITDA represented 23.2% of sales.
Over the quarter, despite inflation already affecting the cost base, the Group maintained strong and resilient profitability, reflecting solid execution, adaptability, and the quality of its recent acquisitions.
The Group remains fully mobilized to address the global geopolitical environment.
Value creation and solid balance sheet
Over the quarter, net profit attributable to the Group came to €334.9 million, up +14.2% from the first quarter of 2025 and equal to 13.2% of sales. This increase was driven primarily by higher operating profit, a lower corporate income tax rate of 26.0%, and the negative evolution of the financial result.
At March 31, 2026, the ratio of net debt to EBITDA4 stood at 2.1.
Sustained acquisition momentum
Legrand continues to actively execute its development strategy, with four acquisitions announced since the beginning of the year, all in datacenters and the energy transition. These represent combined annual revenue of around €275 million:
- Green4T, a Brazilian specialist in the installation, maintenance and operation of technical infrastructure for datacenters. Based in São Paulo, Green4T employs nearly 750 people and generates annual sales of around €45 million;
- Kratos Industries, a U.S. specialist in low- and medium-voltage power distribution systems. Based in Denver, Colorado, in the United States, Kratos Industries employs nearly 325 people and generates annual sales of around $100 million;
- Keydak, leading Chinese rack manufacturer based in Guangzhou. The company employs more than 330 people and generates annual revenue of over €60 million;
- TES, a European specialist in power distribution systems. Based in Cookstown in the United Kingdom, the company employs 280 people and generates close to €85 million in annual revenue.
These transactions strengthen the Group’s leadership positions in the buoyant datacenter and energy transition markets. They demonstrate once again Legrand’s excellent capabilities in identifying opportunities and in executing and docking acquisitions.
Success of the second international share ownership plan for employees
To recognize and further strengthen employees’ engagement with its strategic roadmap, Legrand launched a second international employee share ownership plan in March 2026, covering more than 70% of the Group’s workforce.
This non-dilutive plan, funded through share buybacks, was close to 40% subscribed, reflecting the confidence of Legrand teams in the Group's strategy.
Combined General Meeting of Shareholders on May 27, 2026
Board of Directors5
The terms of office of directors Isabelle Boccon-Gibod, Valérie Chort, Benoît Coquart, Angeles Garcia-Poveda and Clare Scherrer end this year. Their reappointments will be submitted for approval at the next General Meeting of shareholders.
Subject to these renewals, the Board of Directors would continue to align with best governance practices, comprising 80% independent Directors, 60% women and representing seven nationalities6.
Proposed dividend
As announced on February 12, 2026, Legrand’s Board of Directors will ask the General Meeting of Shareholders to be held on May 27, 2026 to approve a dividend of €2.38 per share in respect of 2025. This represents a rise of +8.2% compared with 2024 and corresponds to a payout ratio of 50%.
The ex-dividend date is May 29, 2026, with payment7 on June 2, 2026.
Capital Markets Days on September 29, 2026
At its last Investor Day on September 24, 2024, Legrand outlined the pillars of its highly value‑creating strategic model and presented its ambitions for 2030.
The 2025 results and the 2026 targets illustrate the disciplined implementation of this roadmap, notably through the strengthening of the Group’s growth profile.
Legrand will present a progress update on this 2030 roadmap – with a particular focus on its datacenter strategy – at an upcoming Capital Markets Day to be held in Singapore on September 29, 2026, alongside Data Center World Asia.
----------------
The Board adopted consolidated financial statements for first-quarter 2026 at its meeting on May 6, 2026. These consolidated financial statements, a presentation of 2026 first-quarter results, and the related teleconference (live and replay) are available at www.legrand.com.
KEY FINANCIAL DATES
General Meeting of Shareholders : May 27, 2026 Ex-dividend date : May 29, 2026 Dividend payment : June 2, 2026 2026 first-half results : July 29, 2026 "Quiet period8" starts : June 29, 2026
Capital Markets Day in Singapore : September 29, 2026
ABOUT LEGRAND
Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for residential, commercial, and datacenter markets makes it a benchmark for customers worldwide.
The Group harnesses technological and societal trends with lasting impacts on buildings with the purpose of improving life by transforming the spaces where people live, work and meet with electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable.
Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing a strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings that include products with enhanced value in use.
Legrand reported sales of €9.5 billion in 2025. The company is listed on Euronext Paris and is a component stock of the CAC 40, CAC 40 ESG and CAC Transition Climat indexes (code ISIN FR0010307819).
https://www.legrand.com
Appendices
Glossary
Working capital requirement: Working capital requirement is defined as the sum of trade receivables, inventories, other current assets, income tax receivables and short-term deferred tax assets, less the sum of trade payables, other current liabilities, income tax payables, short-term provisions and short-term deferred tax liabilities.
Free cash flow: Free cash flow is defined as the sum of net cash from operating activities and net proceeds from sales of fixed and financial assets, less capital expenditure and capitalized development costs.
Organic growth: Organic growth is defined as the change in sales at constant structure (scope of consolidation) and exchange rates.
Net financial debt: Net financial debt is defined as the sum of short-term borrowings and long-term borrowings, less cash and cash equivalents and marketable securities.
EBITDA: EBITDA is defined as operating profit plus depreciation and impairment of tangible and right of use assets, amortization and impairment of intangible assets (including capitalized development costs) and impairment of goodwill.
Cash flow from operations: Cash flow from operations is defined as net cash from operating activities excluding changes in working capital requirement.
Adjusted operating profit: Adjusted operating profit is defined as operating profit adjusted for amortization and depreciation of revaluation of assets at the time of acquisitions and for other P&L impacts relating to acquisitions, and where applicable, impairment of goodwill.
CSR: Corporate Social Responsibility.
Payout: Payout is defined as the ratio between the proposed dividend per share for a given year, divided by the net profit attributable to the Group per share of the same year, calculated on the basis of the average number of ordinary shares at December 31 of that year, excluding shares held in treasury.
Calculation of working capital requirement
In € millions Q1 2025 Q1 2026 Trade receivables 1,278.9 1,490.4 Inventories 1,381.9 1,586.6 Other current assets 318.8 361.2 Income tax receivables 187.5 112.3 Short-term deferred taxes assets / (liabilities) 135.1 164.2 Trade payables (1,028.3) (1,174.6) Other current liabilities (963.1) (1,074.7) Income tax payables (94.9) (91.8) Short-term provisions (158.3) (159.8) Working capital required 1,057.6 1,213.8
Calculation of net financial debt
In € millions Q1 2025 Q1 2026 Short-term borrowings 569.5 304.9 Long-term borrowings 4,750.4 6,305.7 Cash and cash equivalents (2,288.3) (1,940.1) Net financial debt 3,031.6 4,670.5
Reconciliation of adjusted operating profit with profit for the period
In € millions Q1 2025 Q1 2026 Profit for the period 294.3 336.1 Share of profits / (losses) of equity-accounted entities 0.0 0.0 Income tax expense 114.5 118.2 Exchange (gains) / losses 5.1 (1.2) Financial income (17.6) (15.4) Financial expense 37.9 47.5 Operating profit 434.2 485.2 Amortization & depreciation of revaluation of assets at the time of acquisitions and other P&L impacts relating to acquisitions 36.2 39.5 Impairment of goodwill 0.0 0.0 Adjusted operating profit 470.4 524.7
Reconciliation of EBITDA with profit for the period
In € millions Q1 2025 Q1 2026 Profit for the period 294.3 336.1 Share of profits / (losses) of equity-accounted entities 0.0 0.0 Income tax expense 114.5 118.2 Exchange (gains) / losses 5.1 (1.2) Financial income (17.6) (15.4) Financial expense 37.9 47.5 Operating profit 434.2 485.2 Depreciation and impairment of tangible assets (including right-of-use assets) 55.2 60.5 Amortization and impairment of intangible assets (including capitalized development costs) 38.7 42.2 Impairment of goodwill 0.0 0.0 EBITDA 528.1 587.9
Reconciliation of cash flow from operations and free cash flow with profit for the period
In € millions Q1 2025 Q1 2026 Profit for the period 294.3 336.1 Adjustments for non-cash movements in assets and liabilities: Depreciation, amortization and impairment 95.2 104.0 Changes in other non-current assets and liabilities and long-term deferred Taxes 9.7 0.2 Unrealized exchange (gains) / losses (0.1) 1.2 (Gains) / losses on sales of assets, net 0.2 0.2 Other adjustments 7.0 9.2 Cash flow from operations 406.3 450.9 Decrease / (Increase) in working capital requirement (185.3) (194.1) Net cash provided from operating activities 221.0 256.8 Capital expenditure (including capitalized development costs) (33.2) (36.4) Net proceeds on asset disposals 0.3 0.6 Free cash flow 188.1 221.0
Scope of consolidation
2025 Q1 H1 9M Full-year Full consolidation method APP Balance sheet only 6 months 9 months 12 months Power Bus Way Balance sheet only 6 months 9 months 12 months Performation Balance sheet only Balance sheet only Balance sheet only 11 months CRS Balance sheet only Balance sheet only Balance sheet only 9 months Linkk Busway Systems Balance sheet only 6 months Amperio Project Balance sheet only Balance sheet only Quitérios Balance sheet only 5 months Cogelec Balance sheet only Avtron Power Solutions 2 months
2026 Q1 H1 9M Full-year Full consolidation method APP 3 months 6 months 9 months 12 months Power Bus Way 3 months 6 months 9 months 12 months Performation 3 months 6 months 9 months 12 months CRS 3 months 6 months 9 months 12 months Linkk Busway Systems 3 months 6 months 9 months 12 months Amperio Project 3 months 6 months 9 months 12 months Quitérios 3 months 6 months 9 months 12 months Cogelec Balance sheet only To be determined To be determined To be determined Avtron Power Solutions 3 months 6 months 9 months 12 months Green4T Balance sheet only To be determined To be determined To be determined Kratos Industries Balance sheet only To be determined To be determined To be determined TES Balance sheet only To be determined To be determined To be determined Keydak To be determined To be determined To be determined
Disclaimer
This press release may contain forward-looking statements, relating to Legrand's financial situation as well as certain sustainability issues relevant to its activities, which are not historical data. Although Legrand considers these statements to be based on reasonable hypothesis and assumptions at the time of publication of this document, they are subject to various risks and uncertainties that could cause actual results to differ from those expressed or implied herein.
Details on risks are provided in the most recent version of Legrand Universal Registration Document filed with the Autorité des marchés financiers (French Financial Markets Authority, AMF). which is available on-line on the websites of both AMF (www.amf-france.org) and Legrand (www.legrand.com).
Investors and holders of Legrand securities are reminded that no forward-looking statement contained in this press release is or should be construed as a promise or a guarantee of actual results by Legrand or anyone else. which are liable to differ significantly. Therefore such statements should be used with caution taking into account their inherent uncertainty.
The forward-looking statements contained in this press release are only valid on the date of its publication. Subject to applicable regulations. Legrand does not undertake to update these statements to reflect events, information or circumstances occurring after the date of publication of this release.
This press release does not constitute an offer to sell. or a solicitation of an offer to buy Legrand securities in any jurisdiction.
Readers are invited to verify the authenticity of Legrand press releases with the CertiDox app. Learn more at www.certidox.com
1 For more information, see the Legrand press release dated February 13, 2025
2 For further information, please refer to documents published in the Capital Markets Day 2024 - Legrand section
3 For further information, please refer to documents published in the CSR Capital Markets Day 2025 - Legrand section
4 Based on EBITDA for the past 12 months
5 Subject to the approval of the General Meeting of shareholders to be held on May 27, 2026
6 Proposed changes to the composition of Board Committees are set out in chapter 6.1.1.1 of the universal registration document - Legrand_URD_2025_ENGLISH
7 This distribution will be made in full out of distributable income
8 Period of time when all communication is suspended in the run-up to publication of results
View source version on businesswire.com: https://www.businesswire.com/news/home/20260506514847/en/
Contacts
INVESTOR RELATIONS & FINANCIAL COMMUNICATION
Ronan MARC (Legrand)
+33 1 49 72 53 53
ronan.marc@legrand.com
PRESS RELATIONS
Lucie DAUDIGNY (TBWA)
+33 6 77 20 71 11
lucie.daudigny@tbwa-corporate.com
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- We Think Stride's (NYSE:LRN) Solid Earnings Are Understated
May 6, 2026
The market seemed underwhelmed by last week's earnings announcement from Stride, Inc. (NYSE:LRN) despite the healthy numbers. Our analysis suggests that shareholders might be missing some positive underlying factors in the earnings report.
AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early.NYSE:LRN Earnings and Revenue History May 6th 2026
The Impact Of Unusual Items On Profit
To properly understand Stride's profit results, we need to consider the US$60m expense attributed to unusual items. While deductions due to unusual items are disappointing in the first instance, there is a silver lining. We looked at thousands of listed companies and found that unusual items are very often one-off in nature. And that's hardly a surprise given these line items are considered unusual. Assuming those unusual expenses don't come up again, we'd therefore expect Stride to produce a higher profit next year, all else being equal.
That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates.
Our Take On Stride's Profit Performance
Because unusual items detracted from Stride's earnings over the last year, you could argue that we can expect an improved result in the current quarter. Based on this observation, we consider it likely that Stride's statutory profit actually understates its earnings potential! Better yet, its EPS are growing strongly, which is nice to see. The goal of this article has been to assess how well we can rely on the statutory earnings to reflect the company's potential, but there is plenty more to consider. Obviously, we love to consider the historical data to inform our opinion of a company. But it can be really valuable to consider what other analysts are forecasting. So feel free to check out our free graph representing analyst forecasts.
Today we've zoomed in on a single data point to better understand the nature of Stride's profit. But there is always more to discover if you are capable of focussing your mind on minutiae. For example, many people consider a high return on equity as an indication of favorable business economics, while others like to 'follow the money' and search out stocks that insiders are buying. While it might take a little research on your behalf, you may find this free collection of companies boasting high return on equity, or this list of stocks with significant insider holdings to be useful.
Have feedback on this article? Concerned about the content?Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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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- Legrand : Total Number of Shares and Voting Rights
May 5, 2026
LIMOGES, France, May 05, 2026--(BUSINESS WIRE)--Regulatory News:
Legrand (Paris:LR):
Date Total number of shares composing the share capital Total number of voting rights April 30, 2026 262,245,733 Theoretical number of voting rights:
262,245,733 Number of exercisable voting rights*:
261,395,129
(*) After deduction of shares without voting rights
The variation of the total number of shares since the latest release of financial statements is reminded below:
Total number of shares as at February 28, 2026 262,245,733 Exercise of stock options Total number of shares as at March 31, 2026 262,245,733 Exercise of stock options Total number of shares as at April 30, 2026 262,245,733 Exercise of stock options
-----------------
KEY FINANCIAL DATES
2026 first-quarter results: May 7, 2026 "Quiet period1" starts: April 7, 2026 General Meeting of Shareholders: May 27, 2026 Ex-dividend date: May 29, 2026 Dividend payment: June 2, 2026 2026 first-half results: July 29, 2026 "Quiet period1" starts: June 29, 2026
ABOUT LEGRAND Legrand is the global specialist in electrical and digital building infrastructures. Its comprehensive offering of solutions for residential, commercial, and datacenter markets makes it a benchmark for customers worldwide.
The Group harnesses technological and societal trends with lasting impacts on buildings with the purpose of improving life by transforming the spaces where people live, work and meet with electrical, digital infrastructures and connected solutions that are simple, innovative and sustainable.
Drawing on an approach that involves all teams and stakeholders, Legrand is pursuing a strategy of profitable and responsible growth driven by acquisitions and innovation, with a steady flow of new offerings that include products with enhanced value in use.
Legrand reported sales of €9.5 billion in 2025. The company is listed on Euronext Paris and is a component stock of the CAC 40, CAC 40 ESG and CAC Transition Climat indexes (code ISIN FR0010307819).
https://www.legrand.com
Readers are invited to verify the authenticity of Legrand press releases with the CertiDox app. Learn more at www.certidox.com
1 Period of time when all communication is suspended in the run-up to publication of results
View source version on businesswire.com: https://www.businesswire.com/news/home/20260505503085/en/
Contacts
INVESTOR RELATIONS & FINANCIAL COMMUNICATION
Ronan MARC (Legrand)
+33 1 49 72 53 53
ronan.marc@legrand.com
PRESS RELATIONS
Lucie DAUDIGNY (TBWA)
+33 6 77 20 71 11
lucie.daudigny@tbwa-corporate.com
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- A Look At Stride’s Valuation After Q3 Results And Updated Full Year Outlook
May 3, 2026
Never miss an important update on your stock portfolio and cut through the noise. Over 7 million investors trust Simply Wall St to stay informed where it matters for FREE.
What Stride’s latest earnings tell you
Stride (LRN) put fresh numbers on the table with its third quarter results and an updated full year outlook, giving you a clearer view of how its online education business is currently performing.
For the quarter ended March 31, 2026, Stride reported sales of US$629.87 million, compared with US$613.38 million a year earlier. Net income for the period was US$88.53 million versus US$99.35 million, with basic earnings per share from continuing operations at US$2.09 compared with US$2.31 and diluted earnings per share at US$1.93 compared with US$2.02.
Across the first nine months of the fiscal year, sales were US$1.88b, compared with US$1.75b a year ago. Net income for this period was US$256.8 million versus US$236.62 million, while basic earnings per share from continuing operations were US$5.98 compared with US$5.50 and diluted earnings per share were US$5.39 compared with US$4.95.
Alongside the earnings release, management narrowed full year revenue guidance to a range of US$2.49b to US$2.52b and outlined an income from operations range of US$443 million to US$450 million. For you as a shareholder or potential investor, this pairing of reported results with guidance helps set expectations for how the rest of the fiscal year may unfold.
See our latest analysis for Stride.
Stride’s share price has been sensitive to the latest earnings and guidance, with a 1 day share price return of 4.2% decline and a 7 day share price return of 5.1% decline, while a 30 day share price return of 3.8% and year to date share price return of 44.1% sit alongside a 1 year total shareholder return of 41.7% decline and multi year total shareholder returns that have been very strong. This suggests that longer term momentum remains intact even as recent sentiment cools.
If Stride’s recent move has you thinking about what else is shaping education and training, it could be worth scanning 66 profitable AI stocks that aren't just burning cash as another way to spot potential opportunities.
Stride now trades on an EBITDA multiple near 5x and at a sizeable discount to one set of intrinsic value estimates. Should investors view this as mispricing that leaves potential upside on the table, or assume markets are already incorporating expectations for future growth?
Most Popular Narrative: 82.5% Overvalued
According to the most followed narrative on Stride, the fair value sits at $51 per share compared with the latest close of $93.08. This frames the current debate around how much investors are paying for its online and career-focused education model.
Story Continues
Stride represents a bet on the evolution of education itself. By aligning learning with employment and treating education as a lifelong process rather than a one-time event, Stride has positioned itself beyond the volatility of pandemic-era remote learning.
For investors, LRN is not a momentum play. It is a structural thesis on how education adapts to a changing economy. If that adaptation continues, Stride’s quiet reinvention may prove more durable than the market currently assumes.Read the complete narrative.
Curious what justifies a fair value that sits well below today’s share price? The narrative leans heavily on how revenue, profit margins, and future earnings power line up with a slower growth profile and a more measured profit multiple than fast growth peers. The full breakdown shows exactly which assumptions pull the valuation down and which parts of the business model keep it supported.
Result: Fair Value of $51 (OVERVALUED)
Have a read of the narrative in full and understand what's behind the forecasts.
However, this thesis could be shaken by tighter regulation around virtual schools or weaker proof that Stride’s programs translate into the job outcomes investors are paying for.
Find out about the key risks to this Stride narrative.
Another view on value
The narrative-based fair value of $51 suggests Stride is 82.5% overvalued, but the current P/E of 12.7x tells a different story. It sits well below the Consumer Services industry at 16.5x, the peer average at 18.2x, and the fair ratio of 19x. This points to a meaningful valuation gap that could either be a cushion or a warning sign if sentiment shifts.
For a closer look at how this gap could matter for your risk and return trade off, See what the numbers say about this price — find out in our valuation breakdown.NYSE:LRN P/E Ratio as at May 2026
Next Steps
If the mixed signals in this story leave you unsure, now is a good time to check the numbers yourself and decide what really matters. To see what the market is optimistic about, start by reviewing 4 key rewards
Looking for more investment ideas?
If Stride has your attention, do not stop here. Broaden your watchlist with fresh ideas so you are not relying on a single story.
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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.
Companies discussed in this article include LRN.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com
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- Stride Inc (LRN) Q3 2026 Earnings Call Highlights: Navigating Growth and Challenges in a ...
Apr 29, 2026
This article first appeared on GuruFocus.
Total Revenue: $629.9 million, up 2.7% year-over-year. Career Learning Revenue: $259.5 million, up nearly 16% driven by 11.6% enrollment growth. General Education Revenue: $357.5 million, down 3.6% due to a 5% enrollment decline. Total Enrollment: 244,500, up 1.8%. Revenue per Enrollment: $2,485, up 2.9% from $2,415 last year. Gross Margin: 36.8%, down 380 basis points. SG&A Expenses: $102.5 million, down 13.5% from last year. Stock-Based Compensation: $9.6 million for the quarter. Adjusted Operating Income: $140.4 million, down 1%. Adjusted EBITDA: $171.3 million, up 1.8%. Adjusted EPS: $2.30, down $0.03 from last year. Capital Expenditures: $18.5 million, up from $15.8 million last year. Free Cash Flow: $202.4 million, up from $37.3 million last year. Cash and Equivalents: $856 million. Full-Year Revenue Guidance: $2.490 billion to $2.520 billion. Full-Year Adjusted Operating Income Guidance: $490 million to $500 million. Full-Year CapEx Guidance: $75 million to $80 million. Effective Tax Rate Guidance: 24% to 25%.
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Release Date: April 28, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
Total enrollment grew by 1.8% to 244,500, indicating a positive trend in student interest. Revenue for Career Learning - Middle and High School programs increased by nearly 16%, driven by strong enrollment growth of 11.6%. Stride Inc (NYSE:LRN) reported a total revenue of $629.9 million for the quarter, up 2.7% compared to last year. The company has a strong pipeline of new business activity, which is as robust as it has been in the past five years. Free cash flow increased significantly to $202.4 million, up from $37.3 million last year, showcasing improved financial health.
Negative Points
General Education revenue declined by 3.6% due to a 5% drop in enrollment. Gross margins decreased by 380 basis points to 36.8%, primarily due to continued investments in the business. Adjusted operating income was down 1%, and adjusted earnings per share decreased by $0.03 from last year. The company anticipates a sequential decline in enrollment next quarter as most programs no longer accept enrollments during the fourth quarter. The Adult Learning segment, particularly the boot camps, is experiencing secular decline, impacting overall growth prospects.
Q & A Highlights
Q: Can you comment on the contract renewal pipeline or new business, and if there is any pushback from issues experienced last summer? A: James Rhyu, CEO, stated that existing clients remain positive about Stride's programs, and the company maintains strong relationships with partners. On the new business side, there has been no negative impact, and the pipeline is as strong as it has been in the past five years. Customers are focused on the success Stride can deliver, and the company is receiving positive feedback despite past platform issues.
Story Continues
Q: Are there any changes in state funding for virtual schools, and is this a trend that might continue? A: James Rhyu, CEO, explained that while Pennsylvania has had legislation to cut virtual funding for years, the market remains robust. He does not see a significant trend change in state funding for virtual programs compared to the past 10-15 years. Stride views these situations as opportunities for stronger players like themselves.
Q: Did enrollment windows close earlier this year, and what impact did this have on third-quarter enrollment? A: James Rhyu, CEO, confirmed that some enrollment windows closed earlier, and Stride proactively chose not to grow enrollment aggressively this year. This approach put downward pressure on enrollment, but it does not reflect a lack of demand, which remains strong for the fall.
Q: How is Stride planning to manage marketing spend given the progress on platform issues? A: James Rhyu, CEO, indicated that Stride is on a trajectory for business as usual and plans to be aggressive in the market. He noted that AI might improve conversion rates, potentially lowering customer acquisition costs, which is a positive trend for the business.
Q: What is the outlook for the Adult Learning segment, and what is needed for it to return to growth? A: James Rhyu, CEO, mentioned that the Adult Learning segment is not significant enough to impact shareholders materially. The boot camps are in secular decline, but MedCerts remains an attractive market. Stride plans to continue investing in MedCerts, despite past execution challenges, as it benefits their K-12 programs and presents market opportunities.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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