Wendel stock holds firm as portfolio results and asset value guide investors

Wendel stock (FR0000120966) is framed today by its latest published portfolio figures, with net asset value at EUR 7.2 billion and NAV per share at EUR 163.9 at 31 December 2025. The holding company also reported a 2025 net income of EUR 640 million, helping anchor valuation around its latest published balance-sheet and earnings base.

EUR 163.9 per share

At 31 December 2025, Wendel reported NAV per share of EUR 163.9, which gives investors a concrete reference point for the group´s listed holding structure. The company also said net asset value was EUR 7.2 billion on the same date, a figure that sets the scale of the portfolio in a single snapshot.

The comparison that matters is the earnings swing: Wendel reported net income of EUR 640 million for 2025, versus a net loss of EUR 1.2 billion in 2024. That shift is the clearest quantified change in the latest published figures and it changes how the market can read portfolio resilience.

EUR 640 million swing

Wendel´s 2025 net income was helped by portfolio-level developments and by the way the group presents NAV as the main valuation lens. For a holding company, that matters more than a simple operating-margin story because the share price tends to track asset value, cash generation, and portfolio exits together.

The latest reported NAV per share of EUR 163.9 can also be read against the 2025 net income of EUR 640 million and the EUR 7.2 billion asset base. That combination gives a more complete picture than any one metric on its own.

Portfolio lens

Wendel´s model is built around a listed investment portfolio, so NAV and net asset value are the central reference metrics rather than revenue or guidance in the usual industrial sense. That means the headline numbers from 31 December 2025 remain the key guide for assessing the share.

Within that frame, the 2025 profit reversal from a EUR 1.2 billion loss to EUR 640 million of net income is the most important year-on-year comparison available in the latest figures. It suggests a much firmer backdrop for the portfolio value story than the prior year.

Cobham is central

One representative asset in Wendel´s portfolio is Cobham, which sits inside the broader investment structure that drives NAV. For investors, any movement in a major holding like that feeds directly into the next NAV reading and the way the market prices the parent company.

That is why the 31 December 2025 NAV per share of EUR 163.9 matters alongside the EUR 7.2 billion net asset value and EUR 640 million net income. The stock case is still mainly a portfolio-value case.

Latest valuation read

Wendel stock trades through the lens of portfolio value and reported balance-sheet strength rather than a simple quarterly sales line. The latest available published reference point is the 31 December 2025 NAV per share of EUR 163.9, with net asset value at EUR 7.2 billion and 2025 net income at EUR 640 million.