Legrand tops the CAC 40, up 5.5% after raising its targets
The electrical equipment manufacturer for buildings becomes the best performer on the CAC 40 this morning, in a rising index. Its group has just raised its outlook for 2026 by publishing its nine-month accounts. The stock thus erases the difficult session of the previous day.
Growth targets raised after a third quarter with strong acceleration
On Thursday, November 5, 2026, Legrand reported revenue of €8,329.4 million for the first nine months, up 19.5%. The group now targets organic growth of between 11% and 13% for 2026, compared with 8% to 10% previously, which is justified by a third quarter with organic growth of +18.8%, compared with 12.7% over nine months.
The adjusted operating margin stands at 20.8%, up 0.1 point, and its annual target of 20.5% to 21.0% remains unchanged. The group also cites seven acquisitions completed since January, including Kratos Industries, Girtz Industries and Axel Health.
The stock gains 5.64% to €134.90, the strongest increase in the index, while the CAC 40 rises 0.77%. On Wednesday, the stock had nevertheless fallen 3.5%, ranking last before the publication.
A rebound brings the price back to its 50-day moving average, with the 200-day moving average still 4.5% above
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The stock is above its 20-day moving average (€131.95, a gap of +2.24%) and within 1% of its 50-day moving average (€136.14), which today's rise brings it close to. The 200-day moving average, at €141.24, remains 4.49% above the price, leaving some room before a return to the underlying trend.
Over one month, the price still loses 6.68%: today's rebound partly offsets this without erasing it. The MACD has moved back above its signal line (histogram at +0.47), while the RSI at 51 remains neutral. The next reference point is the 50-day moving average, at €136.14, which lies below resistance at €148.40.
SectorMachines et équipements industriels›Équipements électroniques
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Context
Period
Period: 9M 2026
Key reported figures
Revenue: 8 329 millions d'euros
Quarterly revenue: 8 329 millions d'euros
Revenue growth: 19,5 %
EBITDA: 1 950 millions d'euros
EBITDA margin: 23,4 %
Net income: 1 067 millions d'euros
Free cash flow: 1 010 millions d'euros
5 373 millions d'euros
Guidance from the release
« Forts de notre performance depuis le début de l'année, nous relevons nos objectifs pour 2026 »
Risks mentioned
Intégration de multiples acquisitions représentant un défi opérationnel majeur avec calendrier d'intégration étalé.
Impact des mouvements de change négatif (-6,6 M€ de pertes de change au compte de résultat et -588,5 M€ en réserves de conversion).
Augmentation du besoin en fonds de roulement : stocks +315,6 M€, créances clients +458,9 M€ en 9M.
Opportunities identified
Poursuite de la stratégie d'acquisitions ciblées créatrice de valeur avec 7 acquisitions complétées en 9M 2026 (Green4T, Kratos Industries, TES, Keydak, SRS Power Engineering, Girtz Industries, Axel Health).
Croissance du chiffre d'affaires de 19,5% YoY portée par le déploiement des acquisitions et l'intégration en cours.
Amélioration du cash-flow libre à 1 009,5 M€ (12,1% du CA) malgré les investissements d'acquisition.
Outlook / guidance
Expected revenue: 11 472 millions d'euros
Management commentary: « une croissance de ses ventes (hors effets de change) comprise entre +20% et +22% »
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
