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1. Company Snapshot

1.a. Company Description

Believe S.A. provides music distribution and marketing services for artists and labels worldwide.The company's physical and digital distribution services include a range of digital music services and video streaming, as well as a network of physical distribution partners.It also provides trade marketing, video, sync, and additional services; and technology and analytics for clients to manage and promote their catalog.


Believe S.A. was incorporated in 2005 and is headquartered in Paris, France.

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1.b. Last Insights on BLV

Believe S.A.'s recent performance was driven by its strong growth potential in the high-growth tech sector. The company's innovation in digital audio and music distribution solutions, as well as its adaptability to market trends, positions it well to capitalize on the favorable economic backdrop. Additionally, Believe's resilience to economic fluctuations and its ability to navigate the competitive tech landscape are key drivers of its recent performance. The company's potential to benefit from the Federal Reserve's rate cuts and robust job growth also contributes to its growth prospects.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Believe: Results of the public buyout offer Imminent implementation of the mandatory squeeze-out

Jul -22

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High Growth Tech Stocks To Watch In Europe June 2025

Jun -09

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Increase in the price of the public buyout Offer followed by a squeeze-out on Believe’s shares filed by Upbeat BidCo.

Jun -04

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Amper Leads 3 High Growth Tech Stocks in Europe

May -09

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POSTPONEMENT OF BELIEVE'S ANNUAL GENERAL MEETING SCHEDULED FOR 26 JUNE 2025

Apr -29

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Believe’s majority shareholder, Upbeat BidCo, announces its intention to file a public buy-out offer, followed by a squeeze-out, on the shares it does not hold.

Apr -16

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Exploring Three High Growth Tech Stocks In Europe

Apr -08

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BELIEVE: Significant profitability improvement and solid organic growth despite currency impacts in FY’24

Mar -13

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.40%)

6. Segments

Premium Solutions

Expected Growth: 10.43%

Believe S.A.'s Premium Solutions segment growth of 10.43% is driven by increasing demand for high-margin digital music distribution services, expansion into new markets, and strategic partnerships with independent labels and artists. Additionally, the company's focus on innovative marketing and promotional tools, as well as its ability to capitalize on the growing trend of independent artists seeking alternative distribution channels, contribute to its rapid growth.

Automated Solutions

Expected Growth: 9.95%

Believe S.A.'s Automated Solutions segment growth of 9.95% is driven by increasing demand for digital music distribution, expansion into new markets, and strategic partnerships. Additionally, the company's focus on innovation, such as AI-powered music recommendation tools, has enhanced customer engagement and retention, contributing to the segment's rapid growth.

7. Detailed Products

Tunecore

A digital music distribution platform that allows artists to release their music on various streaming platforms

Believe Distribution

A digital music distribution platform that provides a range of services, including music distribution, marketing, and analytics

Believe Publishing

A music publishing administration service that helps songwriters and publishers manage their rights and royalties

Believe Artist Services

A range of services designed to support artists in their careers, including marketing, promotion, and distribution

Nexus

A digital music platform that provides a range of services, including music distribution, marketing, and analytics

8. Believe S.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Believe S.A. is medium, as there are some alternatives available in the market, but they are not very attractive to customers.

Bargaining Power Of Customers

The bargaining power of customers for Believe S.A. is high, as customers have many options available and can easily switch to competitors.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Believe S.A. is low, as the company has multiple suppliers to choose from and can negotiate better prices.

Threat Of New Entrants

The threat of new entrants for Believe S.A. is medium, as there are some barriers to entry, but it's not impossible for new companies to enter the market.

Intensity Of Rivalry

The intensity of rivalry for Believe S.A. is high, as there are many competitors in the market and the competition is fierce.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 2.78%
Debt Cost 3.95%
Equity Weight 97.22%
Equity Cost 10.93%
WACC 10.74%
Leverage 2.86%

11. Quality Control: Believe S.A. passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Believe

A-Score: 4.5/10

Value: 3.4

Growth: 5.3

Quality: 4.1

Yield: 0.0

Momentum: 6.5

Volatility: 7.7

1-Year Total Return ->

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Stock-Card
BHG

A-Score: 4.0/10

Value: 7.6

Growth: 2.4

Quality: 2.9

Yield: 0.0

Momentum: 9.5

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
Ceconomy

A-Score: 3.7/10

Value: 6.4

Growth: 2.7

Quality: 2.3

Yield: 0.6

Momentum: 8.0

Volatility: 2.0

1-Year Total Return ->

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Stock-Card
Fenix Outdoor

A-Score: 3.6/10

Value: 5.2

Growth: 4.0

Quality: 3.8

Yield: 3.1

Momentum: 0.5

Volatility: 5.0

1-Year Total Return ->

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Stock-Card
WH Smith

A-Score: 3.5/10

Value: 5.7

Growth: 5.8

Quality: 3.4

Yield: 4.4

Momentum: 0.5

Volatility: 1.3

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

17.2$

Current Price

17.2$

Potential

-0.00%

Expected Cash-Flows