AI 銘柄分析 · 10年

Exor N.V.

EXO · EUR · 分析基準日 2026-11-06

{ "as_of": "2026-11-06", "market_price_eur": 73.35, "entry_cohort_cap_oku": 147.20703921, "reference_NAV_proxy_oku": 343.27135658, "indicative_NAV_per_share_eur": 171.04449719, "probability_weighted_fair_value_per_share_eur": 78.78680795, "expected_IRR": 0.103330206, "required_return": 0.095, "scenario_summary": [ { "case": "strong_bull", "probability": 0.12, "10y_payout_oku": 29.03332908, "2036_terminal_old_cohort_mcap_oku": 786.32510777, "pv_oku": 336.41514993, "irr": 0.194104269117 }, { "case": "mild_bull", "probability": 0.2, "10y_payout_oku": 25.94978686, "2036_terminal_old_cohort_mcap_oku": 474.48413113, "pv_oku": 208.79355421, "irr": 0.136341643073 }, { "case": "base", "probability": 0.4, "10y_payout_oku": 22.98685141, "2036_terminal_old_cohort_mcap_oku": 315.40904784, "pv_oku": 142.86699775, "irr": 0.091495005555 }, { "case": "mild_bear", "probability": 0.2, "10y_payout_oku": 14.26556663, "2036_terminal_old_cohort_mcap_oku": 177.34700317, "pv_oku": 81.31776373, "irr": 0.027959658752 }, { "case": "bear", "probability": 0.08, "10y_payout_oku": 5.34787171, "2036_terminal_old_cohort_mcap_oku": 70.28441458, "pv_oku": 32.2419613, "irr": -0.066578541683 } ], "publication_status": "model_only_reverified_2037_stock_neutralization_and_IFRS_investment_company_display_2026_11_06_cutoff_still_unverified_share_count", "five_year_to_ten_year_correction": "All 2027..2035 inclusive plus 2036 Jan1-Nov6 included; no 2036 Nov7-Dec31 payouts added." }

10年期待年率10.33%

資本コスト9.50%

直近終値73.35 EUR2026-11-06

AIによるシナリオ分析です。基準日以降の出来事、株価や為替の変化は個別に確認が必要です。各数値は元の分析の単位と前提に従います。

分析の要約

{
"investment_thesis": "Exor is a discounted collection of equity interests rather than a consolidated automotive group; key determinants are Ferrari premium economics, recovery in Stellantis/CNH, disciplined capital deployment, Lingotto and private holdings, debt and buybacks.",
"valuation_policy": "All 2036 investment exit marks projected from individual investees’ post-2036 sustainable owner FCFE and capital charge; interim share buyback execution prices are explicit market assumptions, NOT a terminal NAV discount.",
"revenue_profit_note": "Exor H1 IFRS investment company reports dividend income, FVTPL remeasurements, G&A incl SBC, other, finance income/cost, PBT and taxes; neither operating sales nor operating profit are reported. Standard stockfu sales/EBIT fields are unsupported; see investment_entity_IFRS_display_metric_policy.",
"past_5_year_payout_error": "Prior model undercounted or mislabeled shareholder distributions by treating years 1–5 as all ten years; replaced by ledger from post-Nov6 2026 through Nov6 2036, events with actual ACT/365.25 year fractions and 5 probability paths.",
"incomplete_baseline_facts": [
"No public exact treasury count at November 6 before November 9 update; November 2 report is latest allowable proxy.",
"Exor tender acceptance/individual cash receipt date for Iveco not proven by Iveco 89.42% aggregate initial settlement; opening model uses offer receivable, settles Nov13 as conditional forecast.",
"Private and Lingotto FV marks are June30 2026 old; Oct/Nov marks not audited.",
"Nov6 actual investee stock holdings may change after June; held constant unless confirmed (Philips 2026 H1 in-kind award already included).",
"After-March-2027 buybacks, future dividends, award vesting, tax, prices and all forecast dates are assumptions."
],
"definitions": {
"payout_oku": "Sum of cash dividends and proportional tender/sale cash actually modeled to original Nov6 shareholder cohort, never book P&L or unrealized NAV.",
"mcap_oku": "End-of-period residual equity intrinsic value times remaining original shareholder cohort ownership; not entire Exor market cap.",
"NAV": "Investments at fair value plus cash, less holding-level debt and liabilities; no additive investee operating CF."
},
"conservative_bias": "A separate terminal reserve charges post-2036 stock-neutralizing repurchases at expected market price rather than treating expensed share awards as costless.",
"staleness_and_model_risk": "Large model uncertainty in 2037 owner-FCFE; not a factual company 2036 forecast.",
"sbc_terminal_validation": "Future >2036-11-06 annual neutralization reserve uses first 2037 buyback at intrinsic 2037 year-growth price. 2037+ old holders pro-rata tender, receive buyback and owner-cash-equivalent distributions while H declines and N remains neutral; 10-year infinite/finite tail PV identity verified to the same 2036 old-cohort terminal value. Prior 2026-36 SBC P&L and equity reserve only cancel for net book NAV; no second P&L charge in terminal."
}

Exor はIFRS投資会社であり、投資先の売上・営業利益を連結売上・営業利益として表示しない。投資配当、公正価値評価損益、費用、金融収支からの損益接続は年次台帳に記載。11月6日の株数は10月30日までの報告値を代理使用し、Iveco受渡時期と非上場資産の評価は未確認。予測権利日・資産売却・買戻しなどの確認時期を超えたら期待リターンを保留。終価の株式報酬補填・比例応札と希薄化を同時にモデル化。

事業

accounting: Since investment entity assessment, parent uses IFRS10 investment entity exception for equity investments at FVTPL, including controlled Juventus; only service companies consolidated. Carrying stakes are public prices and private valuations; no group automotive or health product sales are booked as parent revenue.
holdings: Ferrari luxury sport cars / Stellantis mass auto / CNH farm and construction / Philips health tech / Juventus football / Via transit SaaS / Clarivate business data / Lingotto asset management and LP funds / private stakes.
capital_allocation: Buyback executed below estimated NAV is accretive to continuing shares but old cohort assumed to tender pro-rata and receives cash; no buyer-survivor NAV accretion assigned twice to old cohort.
dividends: Dividend inflow from investees to holdco (and historical Iveco one-off) distinct from Exor ordinary cash dividend to shareholders.
2026_Ferrari_after_cutoff: No. Q3 result dated Nov3 and included, parent profit is not Ferrari operating profit times ownership recognized as equity-accounted earnings.
investee_operating_cashflow_not_added_to_portfolio_values: はい

競争力・事業の質

strengths

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1: Ferrari premium margins and brand moat
2: material net asset cover and historically strong holdco credit rating A-
3: diverse optional reinvestment into funds and healthcare
4: cancelled ordinary treasury has no economic dilution

weaknesses

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1: extreme Ferrari concentration
2: Stellantis/CNH cyclical operating leverage and regulatory risk
3: opaque illiquid holdings
4: discretionary and sometimes dilutive manager LTI and voting control
5: Exor discount may persist indefinitely

leverage

June30 2026 gross notes €35.07億, financial liabilities €1.84億 (of which FX €1.39億 assumed settled Jul1), cash €21.79億, GAV €357.68億; 4.7% published LTV before subsequent transactions.

company_guidance_not_a_projection

2026 second-half results not known at November 6; 2036 normalized investee FCFE scenario values are hypotheses.

業界と環境

Ferrari: scarcity / high-end personalization; capex for new vehicles and brand; premium valuation sensitivity
Stellantis: ICE/EV mix, tariffs, US/Europe demand, pricing discipline, industrial FCF negative through cycle, regulation; expected 2027 return to cash generation uncertain
CNH: agriculture machine market trough, dealers, precision agriculture R&D, captive finance receivables differ from industrial leverage
Philips: hospital spending/recall claims, imaging and monitoring technology, compliance and product innovation
Juventus: match-day media revenues and player wage/contracts drive large operating swings; NCI not consolidated in investment entity NAV
Lingotto_other: liquid and illiquid LPs with FX/market beta and fund fees, residual market pricing uncertain
private: Louboutin consumer luxury, Economist subscriber churn, Institut Merieux diagnostics, Welltec equipment and oil & gas services disposal risk
future_investment: Investment cost does not create instant gain, future 2037 FCFE based on cost and after-maintenance-capex sustainable yield.

財務・資本配分

share_counts

June30 2026 issued 207,779,752, treasury 5,044,751; November2 2026 treasury 7,088,492, effective 200,691,260; net treasury +2,043,741 vs disclosed first+second tranche gross 2,050,116 discrepancy -6,375 (cannot infer exact award delivery without ledger).

special_voting_shares_A

117997914

ordinary_economic_special_voting_share_issue

いいえ

dividend_2026_confirmed_ex_date

2026-05-25

dividend_2026_confirmed_payment

2026-05-27

confirmed_2026_final_dividend_eur_per_share

0.49

included_2026_11_06_to_2036_11_06

いいえ

2026_LTI_PSO_scenario_exercise_assumptions

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strong_bull

2029_exercised_fraction: 0.75

mild_bull

2031_exercised_fraction: 0.5

base

2031_exercised_fraction: 0.25

mild_bear

exercise_fraction: 0

bear

exercise_fraction: 0

2026_LTI_reported

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2026_1h_sbc_expense_oku: 0.14
2026_1h_equity_credited_oku: 0.14
shares_delivered_2026_1h: 503043
PSO_granted: 891447
PSO_strike_eur: 86.46
PSO_vesting: 2028-12-31 conditional, exercise not guaranteed, omitted in issuance ledger
PSU_granted: 133147
PSU_vesting: 2028-12-31 conditional
RSU_granted: 10085
RSU_vesting: 2026–28 three instalments conditional

future_issuance_treatment

cash third-party issue adds cash and shares, reduces original cohort fraction; PSUs/RSUs release from existing treasury without cash to old owners; cancellation reduces issued and treasury equally.

share_repurchase_pro_rata

all future buyback shareholder receipts reported as initial shareholder fraction times issuer cash spent at each event; the remaining original cohort numerator falls pro-rata with outstanding denominator.

sbc_terminal_cost

2036 equity FCFE terminal deducts ONLY future stock-neutralizing employee compensation cost for 2037+, with first 2037 price (1+g)*2036 fair per share and a self-consistent fixed point. Future repurchase cash returned to pro-rata selling old holders appears in post-horizon cohort tail decomposition, not in 2026-2036 timed_cashflows again; employee delivery transfers ownership. Grant-date IFRS SBC expense and equal equity reserve credit cancel in current book equity and are not subtracted again.

financing

Annual interest on holdco notes deducted cash. Hypothetical same-day matched refinancing loans/repayments are visible as zero-net shareholder events, preserving gross holdco debt; note-by-note 2027–2036 maturities unverified. Terminal debt principal subtracted once, no second coupon perpetuity. Undrawn EUR11億 credit facility not modeled as cash.

cash_management_limitations

Proxy gross €35.52億 holdco notes + remaining financial liabilities; future maturities assumed rolled and interest recalculated, not future company-announced contracts.

評価の前提と確認

時価総額（億）

147.20703921

opening_NAV_oku

343.27135658

not_using_market_PE_to_choose_terminal

はい

not_using_fixed_discount_to_NAV_as_terminal

はい

held_portfolio_2026_prices

nov6 public spot prices, stale private/H1 marks disclosed

annual_fair_value_policy

before 2036, each investee mark evolves by scenario gross equity total return minus dividends received by holdco; in 2036 terminal replace booked mark with explicit year+1 normalized owner FCFE / (cost-of-equity - growth).

discount_not_assumed_to_close

はい

group_enterprise_value_not_added

Existing investee equity share prices already deduct their own debt/NCI. Never add investee net income as Exor consolidated profit AND claim priced shares.

no_extra_dividend_on_march_2027_after_horizon

はい

terminal_DCF_sensitivity

理由: Ferrari/Philips growth and k dominate terminal valuation; each 1pp larger r-g reduces all else equal entity Gordon value materially.
計算式: 2037 owner_FCFE / (r-g). E.g one 2027 ownerFCFE 1億, growth 4% through ~2036, 2037 terminal g=2%, r=10% => terminal ≈1.54/(0.08)=19.25億; at r=11% => 17.11億.
単位: 億EUR

2026_11_06_to_2036_11_06_start_and_end_stub

はい

no_double_count_in_terminal_grants

はい

資本コストの前提

資本コスト: 9.50%
currency: EUR
real_or_nominal: nominal_EUR
cost_type: required_initial_shareholder_annual_discount_rate
basis: assumed required shareholder nominal return, used only for scenario present value; investee/terminal rates scenario specific
day_count: ACT/365.25 (calendar anniversary 2036-11-06 is 3653 days, t=10.0013689254)

事業別データ

事業別の内訳と、収録されている年度別データを確認できます。

事業別データを開く →

10年のシナリオ

シナリオごとの確率、期間内の株主還元・追加負担、終価です。金額は億EUR。株主の範囲や受取時点は各分析の前提を確認してください。

シナリオ	確率	株主還元・追加負担	終価
強気	12.0%	29.03	786.33
やや強気	20.0%	25.95	474.48
中立	40.0%	22.99	315.41
やや弱気	20.0%	14.27	177.35
弱気	8.0%	5.35	70.28

強気（確率 12.0%）

growth_shift: 0.055
growth_scale: 1.18
r_shift: -0.009
tg_shift: 0.009
invest_div_mult: 1.3
div_growth: 0.06
buyback_after2027: 1.5
buyback_initial: 3.57
new_invest_annual: 3.5
new_invest_return: 0.09
market_trade_growth: 0.085
cash_interest: 0.035
debt_rate: 0.025
税率: 0.80%
sell_welltec: 2027-03-31
welltec_sale_mult: 1.1
cash_dvd_base: 0.49
sbc_shares_annual: 230000
sbc_expense_annual: 0.27
equity_issuance_2030_oku: 0
terminal_coc: 0.085
holdco_terminal_g: 0.024

確率の根拠

投資先の成長・持株会社の資金配分・事業リスクについての分析上の確率仮定。

このシナリオの数値・キャッシュフローを開く →

やや強気（確率 20.0%）

growth_shift: 0.025
growth_scale: 1.08
r_shift: -0.004
tg_shift: 0.004
invest_div_mult: 1.12
div_growth: 0.043
buyback_after2027: 1.25
buyback_initial: 3.57
new_invest_annual: 3
new_invest_return: 0.083
market_trade_growth: 0.06
cash_interest: 0.03
debt_rate: 0.027
税率: 1.00%
sell_welltec: 2027-03-31
welltec_sale_mult: 1.04
cash_dvd_base: 0.49
sbc_shares_annual: 250000
sbc_expense_annual: 0.28
equity_issuance_2030_oku: 0
terminal_coc: 0.09
holdco_terminal_g: 0.022

確率の根拠

投資先の成長・持株会社の資金配分・事業リスクについての分析上の確率仮定。

事業別の前提

記載なし

日付別キャッシュフロー

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想定日: 2026-11-13
year: 0.0191649555
金額: 0
種類: iveco_tender_receivable_to_cash
date_status: conditional_forecast
underlying_value_oku: 10.56752352
economic_event: asset_to_cash_only
confirmed_offer_settlement_2026_10_30: はい
exor_own_settlement_not_verified: はい
cashflow_to_old_shareholders: いいえ
verification_gate_id: Conditional_Iveco_receivable
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
market_offer_reopened_settlement_announced_date: 2026-11-13
actual_Exor_position_settlement_unverified: はい

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想定日: 2026-12-15
year: 0.1067761807
金額: 0
種類: repurchase_record_date_assumed
date_status: forecast_unannounced
execution_price_eur: 73.807787
tender_election: pro_rata
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2026-12-15
year: 0.1067761807
金額: 1.0699996
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.0699996
issuer_shares_purchased: 1449711
old_cohort_shares_tendered_equivalent: 1449711
old_fraction_pre_buyback: 1
execution_price_eur: 73.807787
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2026-12-31
year: 0.1505817933
金額: 0
種類: equity_incentive_share_delivery
date_status: forecast_vesting_not_confirmed
shares_delivered: 3362
holder_cash: 0
old_holder_shares_unchanged: はい
economic_effect: dilution; equity-based SBC expense already in P&L but reserve credit cancels noncash hit to NAV
verification_gate_id: 2026LTI_and_successor_grants
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
vest_assessment_date_in_existing_2026_LTI_plan: はい
plan_date_source_id: exor_h1
delivery_still_contingent: はい

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想定日: 2027-03-15
year: 0.3531827515
金額: 0
種類: repurchase_record_date_assumed
date_status: forecast_unannounced
execution_price_eur: 74.875151
tender_election: pro_rata
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2027-03-15
year: 0.3531827515
金額: 2.49995751
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 2.49999969
issuer_shares_purchased: 3338891
old_cohort_shares_tendered_equivalent: 3338834.660536
old_fraction_pre_buyback: 0.999983126294
execution_price_eur: 74.875151
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2027-03-31
year: 0.3969883641
金額: 0
種類: portfolio_sale_close
date_status: forecast_unconfirmed
investee: Welltec
company_sale_cash_oku: 5.05116995
company_sale_gain_vs_book_oku: 0.27259437
old_holder_cash: 0
verification_gate_id: Welltec_divestment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2027-05-16
year: 0.52292950034223
金額: 0
種類: forecast_dividend_review
注記: 予測の権利落ちより前に発表を確認する管理日。

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想定日: 2027-06-15
year: 0.605065024
金額: 0
種類: dividend_ex_date_assumed
date_status: forecast_unannounced
pay_date_assumed: 2027-06-30
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
ex_date_assumed: 2027-06-15

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想定日: 2027-06-30
year: 0.6461327858
金額: 0.97628359
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 0.97630006
per_ordinary_share_eur: 0.49
holder_shares_on_assumed_ex_date: 199241549
ex_date_assumed: 2027-06-15
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2027-09-30
year: 0.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Ferrari
amount_received_by_company_oku: 1.65646543
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2027-09-30
year: 0.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Philips
amount_received_by_company_oku: 1.23115674
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2027-09-30
year: 0.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: CNH
amount_received_by_company_oku: 0.33577002
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2027-09-30
year: 0.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Institut Merieux
amount_received_by_company_oku: 0.10073101
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2027-09-30
year: 0.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Christian Louboutin
amount_received_by_company_oku: 0.05596167
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2027-09-30
year: 0.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: The Economist Group
amount_received_by_company_oku: 0.07834634
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2027-09-30
year: 0.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Tag Holding
amount_received_by_company_oku: 0.0167885
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2027-09-30
year: 0.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Lingotto LP interests
amount_received_by_company_oku: 0.61557837
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2027-09-30
year: 0.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Other assets incl bioMerieux
amount_received_by_company_oku: 0.69392471
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2027-10-15
year: 0.93908282
金額: 0
種類: new_portfolio_investment
date_status: forecast_unannounced
company_investment_oku: 4.04722793
estimated_owner_fcfe_y1_oku: 0.33591992
old_holder_cash: 0
verification_gate_id: New_investments
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2027-11-01
year: 0.9856262834
金額: 0
種類: assumed_holdco_notes_refinancing_cash_neutral
date_status: hypothetical_not_issuer_maturity_schedule
new_debt_proceeds_oku: 0.35
maturing_principal_repaid_oku: 0.35
original_cohort_cash: 0
verification_gate_id: Debt_rollovers
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2027-12-31
year: 1.1498973306
金額: 0
種類: equity_incentive_share_delivery
date_status: forecast_vesting_not_confirmed
shares_delivered: 3362
holder_cash: 0
old_holder_shares_unchanged: はい
economic_effect: dilution; equity-based SBC expense already in P&L but reserve credit cancels noncash hit to NAV
verification_gate_id: 2026LTI_and_successor_grants
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
vest_assessment_date_in_existing_2026_LTI_plan: はい
plan_date_source_id: exor_h1
delivery_still_contingent: はい

内容を開く

想定日: 2028-05-16
year: 1.5249828884326
金額: 0
種類: forecast_dividend_review
注記: 予測の権利落ちより前に発表を確認する管理日。

内容を開く

想定日: 2028-06-15
year: 1.607118412
金額: 0
種類: dividend_ex_date_assumed
date_status: forecast_unannounced
pay_date_assumed: 2028-06-30
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
ex_date_assumed: 2028-06-15

内容を開く

想定日: 2028-06-30
year: 1.6481861739
金額: 1.0012
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.00123408
per_ordinary_share_eur: 0.51107
holder_shares_on_assumed_ex_date: 195902714.33946
ex_date_assumed: 2028-06-15
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-09-15
year: 1.8590006845
金額: 0
種類: repurchase_record_date_assumed
date_status: forecast_unannounced
execution_price_eur: 81.741714
tender_election: pro_rata
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-09-15
year: 1.8590006845
金額: 1.25252407
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.2525667
issuer_shares_purchased: 1532347
old_cohort_shares_tendered_equivalent: 1532294.847472
old_fraction_pre_buyback: 0.999965965588
execution_price_eur: 81.741714
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-09-30
year: 1.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Ferrari
amount_received_by_company_oku: 1.7523589
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-09-30
year: 1.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Philips
amount_received_by_company_oku: 1.27156567
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-09-30
year: 1.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: CNH
amount_received_by_company_oku: 0.34342374
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-09-30
year: 1.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Institut Merieux
amount_received_by_company_oku: 0.10353216
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-09-30
year: 1.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Christian Louboutin
amount_received_by_company_oku: 0.05723729
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-09-30
year: 1.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: The Economist Group
amount_received_by_company_oku: 0.08052501
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-09-30
year: 1.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Tag Holding
amount_received_by_company_oku: 0.01725536
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-09-30
year: 1.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Lingotto LP interests
amount_received_by_company_oku: 0.63578283
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-09-30
year: 1.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Other assets incl bioMerieux
amount_received_by_company_oku: 0.70626326
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-10-13
year: 1.9356605065
金額: 0
種類: new_portfolio_investment
date_status: forecast_unannounced
company_investment_oku: 4.05831622
estimated_owner_fcfe_y1_oku: 0.33684025
old_holder_cash: 0
verification_gate_id: New_investments
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-11-01
year: 1.9876796715
金額: 0
種類: assumed_holdco_notes_refinancing_cash_neutral
date_status: hypothetical_not_issuer_maturity_schedule
new_debt_proceeds_oku: 3.835
maturing_principal_repaid_oku: 3.835
original_cohort_cash: 0
verification_gate_id: Debt_rollovers
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2028-12-31
year: 2.1519507187
金額: 0
種類: equity_incentive_share_delivery
date_status: forecast_vesting_not_confirmed
shares_delivered: 336508
holder_cash: 0
old_holder_shares_unchanged: はい
economic_effect: dilution; equity-based SBC expense already in P&L but reserve credit cancels noncash hit to NAV
verification_gate_id: 2026LTI_and_successor_grants
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
vest_assessment_date_in_existing_2026_LTI_plan: はい
plan_date_source_id: exor_h1
delivery_still_contingent: はい

内容を開く

想定日: 2029-05-16
year: 2.5242984257358
金額: 0
種類: forecast_dividend_review
注記: 予測の権利落ちより前に発表を確認する管理日。

内容を開く

想定日: 2029-06-15
year: 2.6064339493
金額: 0
種類: dividend_ex_date_assumed
date_status: forecast_unannounced
pay_date_assumed: 2029-07-02
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
ex_date_assumed: 2029-06-15

内容を開く

想定日: 2029-07-02
year: 2.6529774127
金額: 1.03608377
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.03791277
per_ordinary_share_eur: 0.533046
holder_shares_on_assumed_ex_date: 194370419.49199
ex_date_assumed: 2029-06-15
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2029-09-14
year: 2.855578371
金額: 0
種類: repurchase_record_date_assumed
date_status: forecast_unannounced
execution_price_eur: 86.62894
tender_election: pro_rata
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2029-09-14
year: 2.855578371
金額: 1.24694303
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.24914427
issuer_shares_purchased: 1441948
old_cohort_shares_tendered_equivalent: 1439407.004399
old_fraction_pre_buyback: 0.998237803582
execution_price_eur: 86.62894
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2029-09-30
year: 2.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Ferrari
amount_received_by_company_oku: 1.84368744
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2029-09-30
year: 2.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Philips
amount_received_by_company_oku: 1.30613419
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2029-09-30
year: 2.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: CNH
amount_received_by_company_oku: 0.34933513
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2029-09-30
year: 2.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Institut Merieux
amount_received_by_company_oku: 0.10583051
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2029-09-30
year: 2.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Christian Louboutin
amount_received_by_company_oku: 0.05822252
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2029-09-30
year: 2.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: The Economist Group
amount_received_by_company_oku: 0.08231262
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2029-09-30
year: 2.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Tag Holding
amount_received_by_company_oku: 0.01763842
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2029-09-30
year: 2.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Lingotto LP interests
amount_received_by_company_oku: 0.65306709
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2029-09-30
year: 2.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Other assets incl bioMerieux
amount_received_by_company_oku: 0.71489858
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2029-10-15
year: 2.9404517454
金額: 0
種類: new_portfolio_investment
date_status: forecast_unannounced
company_investment_oku: 4.04722793
estimated_owner_fcfe_y1_oku: 0.33591992
old_holder_cash: 0
verification_gate_id: New_investments
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2029-11-01
year: 2.9869952088
金額: 0
種類: assumed_holdco_notes_refinancing_cash_neutral
date_status: hypothetical_not_issuer_maturity_schedule
new_debt_proceeds_oku: 3.835
maturing_principal_repaid_oku: 3.835
original_cohort_cash: 0
verification_gate_id: Debt_rollovers
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2029-12-31
year: 3.151266256
金額: 0
種類: equity_incentive_share_delivery
date_status: forecast_vesting_not_confirmed
shares_delivered: 249828
holder_cash: 0
old_holder_shares_unchanged: はい
economic_effect: dilution; equity-based SBC expense already in P&L but reserve credit cancels noncash hit to NAV
verification_gate_id: 2026LTI_and_successor_grants
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-05-15
year: 3.5208761122519
金額: 0
種類: forecast_dividend_review
注記: 予測の権利落ちより前に発表を確認する管理日。

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想定日: 2030-06-14
year: 3.6030116359
金額: 0
種類: dividend_ex_date_assumed
date_status: forecast_unannounced
pay_date_assumed: 2030-07-01
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
ex_date_assumed: 2030-06-14

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想定日: 2030-07-01
year: 3.6495550992
金額: 1.07263274
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.07591523
per_ordinary_share_eur: 0.555967
holder_shares_on_assumed_ex_date: 192931012.48759
ex_date_assumed: 2030-06-14
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-09-13
year: 3.8521560575
金額: 0
種類: repurchase_record_date_assumed
date_status: forecast_unannounced
execution_price_eur: 91.808367
tender_election: pro_rata
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-09-13
year: 3.8521560575
金額: 1.24533273
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.24914372
issuer_shares_purchased: 1360599
old_cohort_shares_tendered_equivalent: 1356447.976613
old_fraction_pre_buyback: 0.996949120654
execution_price_eur: 91.808367
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-09-30
year: 3.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Ferrari
amount_received_by_company_oku: 1.94509025
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-09-30
year: 3.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Philips
amount_received_by_company_oku: 1.34531821
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-09-30
year: 3.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: CNH
amount_received_by_company_oku: 0.35632183
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-09-30
year: 3.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Stellantis
amount_received_by_company_oku: 0.30219302
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-09-30
year: 3.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Institut Merieux
amount_received_by_company_oku: 0.10847628
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-09-30
year: 3.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Christian Louboutin
amount_received_by_company_oku: 0.05938697
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-09-30
year: 3.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: The Economist Group
amount_received_by_company_oku: 0.08437044
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-09-30
year: 3.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Tag Holding
amount_received_by_company_oku: 0.01807938
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-09-30
year: 3.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Lingotto LP interests
amount_received_by_company_oku: 0.67265911
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-09-30
year: 3.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Other assets incl bioMerieux
amount_received_by_company_oku: 0.72562206
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-10-15
year: 3.9397672827
金額: 0
種類: new_portfolio_investment
date_status: forecast_unannounced
company_investment_oku: 4.04722793
estimated_owner_fcfe_y1_oku: 0.33591992
old_holder_cash: 0
verification_gate_id: New_investments
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2030-11-01
year: 3.9863107461
金額: 0
種類: assumed_holdco_notes_refinancing_cash_neutral
date_status: hypothetical_not_issuer_maturity_schedule
new_debt_proceeds_oku: 3.835
maturing_principal_repaid_oku: 3.835
original_cohort_cash: 0
verification_gate_id: Debt_rollovers
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2030-12-31
year: 4.1505817933
金額: 0
種類: equity_incentive_share_delivery
date_status: forecast_vesting_not_confirmed
shares_delivered: 249828
holder_cash: 0
old_holder_shares_unchanged: はい
economic_effect: dilution; equity-based SBC expense already in P&L but reserve credit cancels noncash hit to NAV
verification_gate_id: 2026LTI_and_successor_grants
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-05-14
year: 4.517453798768
金額: 0
種類: forecast_dividend_review
注記: 予測の権利落ちより前に発表を確認する管理日。

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想定日: 2031-06-13
year: 4.5995893224
金額: 0
種類: dividend_ex_date_assumed
date_status: forecast_unannounced
pay_date_assumed: 2031-06-30
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
ex_date_assumed: 2031-06-13

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想定日: 2031-06-30
year: 4.6461327858
金額: 0
種類: pso_option_exercise_from_treasury
date_status: forecast
shares_delivered: 445723
cash_to_exor_strike_proceeds_oku: 0.38537211
option_strike_eur: 86.46
assumed_market_price_eur: 96.15558811
old_holder_cash: 0
old_holder_equivalent_shares_unchanged: はい
状態: forecast_conditional_2026_grant
verification_gate_id: 2026LTI_and_successor_grants
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-06-30
year: 4.6461327858
金額: 1.11089026
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.11573851
per_ordinary_share_eur: 0.579874
holder_shares_on_assumed_ex_date: 191574564.51098
ex_date_assumed: 2031-06-13
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-09-15
year: 4.8569472964
金額: 0
種類: repurchase_record_date_assumed
date_status: forecast_unannounced
execution_price_eur: 97.344041
tender_election: pro_rata
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-09-15
year: 4.8569472964
金額: 1.24371611
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.24914405
issuer_shares_purchased: 1283226
old_cohort_shares_tendered_equivalent: 1277649.961496
old_fraction_pre_buyback: 0.995654671504
execution_price_eur: 97.344041
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-09-30
year: 4.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Ferrari
amount_received_by_company_oku: 2.05207021
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-09-30
year: 4.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Philips
amount_received_by_company_oku: 1.38567776
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-09-30
year: 4.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: CNH
amount_received_by_company_oku: 0.36344827
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-09-30
year: 4.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Stellantis
amount_received_by_company_oku: 0.31428074
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-09-30
year: 4.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Institut Merieux
amount_received_by_company_oku: 0.11118818
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-09-30
year: 4.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Christian Louboutin
amount_received_by_company_oku: 0.06057471
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-09-30
year: 4.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: The Economist Group
amount_received_by_company_oku: 0.0864797
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-09-30
year: 4.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Tag Holding
amount_received_by_company_oku: 0.01853136
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-09-30
year: 4.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Lingotto LP interests
amount_received_by_company_oku: 0.69283888
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-09-30
year: 4.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Other assets incl bioMerieux
amount_received_by_company_oku: 0.73650639
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-10-15
year: 4.93908282
金額: 0
種類: new_portfolio_investment
date_status: forecast_unannounced
company_investment_oku: 2.09856263
estimated_owner_fcfe_y1_oku: 0.1741807
old_holder_cash: 0
verification_gate_id: New_investments
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-11-01
year: 4.9856262834
金額: 0
種類: assumed_holdco_notes_refinancing_cash_neutral
date_status: hypothetical_not_issuer_maturity_schedule
new_debt_proceeds_oku: 3.835
maturing_principal_repaid_oku: 3.835
original_cohort_cash: 0
verification_gate_id: Debt_rollovers
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2031-12-31
year: 5.1498973306
金額: 0
種類: equity_incentive_share_delivery
date_status: forecast_vesting_not_confirmed
shares_delivered: 249828
holder_cash: 0
old_holder_shares_unchanged: はい
economic_effect: dilution; equity-based SBC expense already in P&L but reserve credit cancels noncash hit to NAV
verification_gate_id: 2026LTI_and_successor_grants
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2032-05-16
year: 5.5249828884326
金額: 0
種類: forecast_dividend_review
注記: 予測の権利落ちより前に発表を確認する管理日。

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想定日: 2032-06-15
year: 5.607118412
金額: 0
種類: dividend_ex_date_assumed
date_status: forecast_unannounced
pay_date_assumed: 2032-06-30
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
ex_date_assumed: 2032-06-15

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想定日: 2032-06-30
year: 5.6481861739
金額: 1.15093121
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.16016096
per_ordinary_share_eur: 0.604808
holder_shares_on_assumed_ex_date: 190296914.54948
ex_date_assumed: 2032-06-15
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2032-09-15
year: 5.8590006845
金額: 0
種類: repurchase_record_date_assumed
date_status: forecast_unannounced
execution_price_eur: 103.19703
tender_election: pro_rata
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2032-09-15
year: 5.8590006845
金額: 1.24260145
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.25256634
issuer_shares_purchased: 1213762
old_cohort_shares_tendered_equivalent: 1204105.823034
old_fraction_pre_buyback: 0.99204442307
execution_price_eur: 103.19703
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

内容を開く

想定日: 2032-09-30
year: 5.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Ferrari
amount_received_by_company_oku: 2.1708654
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2032-09-30
year: 5.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Philips
amount_received_by_company_oku: 1.43115836
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2032-09-30
year: 5.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: CNH
amount_received_by_company_oku: 0.3717329
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2032-09-30
year: 5.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Stellantis
amount_received_by_company_oku: 0.32774745
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

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想定日: 2032-09-30
year: 5.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Institut Merieux
amount_received_by_company_oku: 0.11428013
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

104

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想定日: 2032-09-30
year: 5.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Christian Louboutin
amount_received_by_company_oku: 0.06195548
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

105

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想定日: 2032-09-30
year: 5.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: The Economist Group
amount_received_by_company_oku: 0.08888454
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

106

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想定日: 2032-09-30
year: 5.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Tag Holding
amount_received_by_company_oku: 0.01904669
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

107

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想定日: 2032-09-30
year: 5.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Lingotto LP interests
amount_received_by_company_oku: 0.71557918
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

108

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想定日: 2032-09-30
year: 5.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Other assets incl bioMerieux
amount_received_by_company_oku: 0.74960208
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

109

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想定日: 2032-10-15
year: 5.9411362081
金額: 0
種類: new_portfolio_investment
date_status: forecast_unannounced
company_investment_oku: 2.10431211
estimated_owner_fcfe_y1_oku: 0.17465791
old_holder_cash: 0
verification_gate_id: New_investments
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

110

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想定日: 2032-11-01
year: 5.9876796715
金額: 0
種類: assumed_holdco_notes_refinancing_cash_neutral
date_status: hypothetical_not_issuer_maturity_schedule
new_debt_proceeds_oku: 1.00205339
maturing_principal_repaid_oku: 1.00205339
original_cohort_cash: 0
verification_gate_id: Debt_rollovers
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

111

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想定日: 2032-12-31
year: 6.1519507187
金額: 0
種類: equity_incentive_share_delivery
date_status: forecast_vesting_not_confirmed
shares_delivered: 250513
holder_cash: 0
old_holder_shares_unchanged: はい
economic_effect: dilution; equity-based SBC expense already in P&L but reserve credit cancels noncash hit to NAV
verification_gate_id: 2026LTI_and_successor_grants
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

112

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想定日: 2033-05-16
year: 6.5242984257358
金額: 0
種類: forecast_dividend_review
注記: 予測の権利落ちより前に発表を確認する管理日。

113

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想定日: 2033-06-15
year: 6.6064339493
金額: 0
種類: dividend_ex_date_assumed
date_status: forecast_unannounced
pay_date_assumed: 2033-06-30
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
ex_date_assumed: 2033-06-15

114

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想定日: 2033-06-30
year: 6.6475017112
金額: 1.19282558
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.20397157
per_ordinary_share_eur: 0.630815
holder_shares_on_assumed_ex_date: 189092808.72645
ex_date_assumed: 2033-06-15
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

115

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想定日: 2033-09-15
year: 6.8583162218
金額: 0
種類: repurchase_record_date_assumed
date_status: forecast_unannounced
execution_price_eur: 109.38449
tender_election: pro_rata
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

116

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想定日: 2033-09-15
year: 6.8583162218
金額: 1.23757935
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.24914352
issuer_shares_purchased: 1141975
old_cohort_shares_tendered_equivalent: 1131402.954977
old_fraction_pre_buyback: 0.99074231483
execution_price_eur: 109.38449
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

117

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想定日: 2033-09-30
year: 6.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Ferrari
amount_received_by_company_oku: 2.28400545
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

118

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想定日: 2033-09-30
year: 6.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Philips
amount_received_by_company_oku: 1.47006554
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

119

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想定日: 2033-09-30
year: 6.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: CNH
amount_received_by_company_oku: 0.37813158
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

120

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想定日: 2033-09-30
year: 6.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Stellantis
amount_received_by_company_oku: 0.33992605
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

121

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想定日: 2033-09-30
year: 6.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Institut Merieux
amount_received_by_company_oku: 0.11681708
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

122

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想定日: 2033-09-30
year: 6.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Christian Louboutin
amount_received_by_company_oku: 0.06302193
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

123

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想定日: 2033-09-30
year: 6.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: The Economist Group
amount_received_by_company_oku: 0.09085773
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

124

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想定日: 2033-09-30
year: 6.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Tag Holding
amount_received_by_company_oku: 0.01946951
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

125

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想定日: 2033-09-30
year: 6.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Lingotto LP interests
amount_received_by_company_oku: 0.73503277
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

126

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想定日: 2033-09-30
year: 6.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Other assets incl bioMerieux
amount_received_by_company_oku: 0.7587673
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

127

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想定日: 2033-10-14
year: 6.9377138946
金額: 0
種類: new_portfolio_investment
date_status: forecast_unannounced
company_investment_oku: 2.09856263
estimated_owner_fcfe_y1_oku: 0.1741807
old_holder_cash: 0
verification_gate_id: New_investments
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

128

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想定日: 2033-11-01
year: 6.9869952088
金額: 0
種類: assumed_holdco_notes_refinancing_cash_neutral
date_status: hypothetical_not_issuer_maturity_schedule
new_debt_proceeds_oku: 0.99931554
maturing_principal_repaid_oku: 0.99931554
original_cohort_cash: 0
verification_gate_id: Debt_rollovers
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

129

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想定日: 2033-12-31
year: 7.151266256
金額: 0
種類: equity_incentive_share_delivery
date_status: forecast_vesting_not_confirmed
shares_delivered: 249828
holder_cash: 0
old_holder_shares_unchanged: はい
economic_effect: dilution; equity-based SBC expense already in P&L but reserve credit cancels noncash hit to NAV
verification_gate_id: 2026LTI_and_successor_grants
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

130

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想定日: 2034-05-16
year: 7.523613963039
金額: 0
種類: forecast_dividend_review
注記: 予測の権利落ちより前に発表を確認する管理日。

131

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想定日: 2034-06-15
year: 7.6057494867
金額: 0
種類: dividend_ex_date_assumed
date_status: forecast_unannounced
pay_date_assumed: 2034-06-30
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
ex_date_assumed: 2034-06-15

132

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想定日: 2034-06-30
year: 7.6468172485
金額: 1.23667313
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.24987255
per_ordinary_share_eur: 0.65794
holder_shares_on_assumed_ex_date: 187961405.77147
ex_date_assumed: 2034-06-15
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

133

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想定日: 2034-09-15
year: 7.8576317591
金額: 0
種類: repurchase_record_date_assumed
date_status: forecast_unannounced
execution_price_eur: 115.942935
tender_election: pro_rata
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

134

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想定日: 2034-09-15
year: 7.8576317591
金額: 1.23595194
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.24914367
issuer_shares_purchased: 1077378
old_cohort_shares_tendered_equivalent: 1066000.221518
old_fraction_pre_buyback: 0.989439381088
execution_price_eur: 115.942935
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

135

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想定日: 2034-09-30
year: 7.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Ferrari
amount_received_by_company_oku: 2.40962575
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

136

内容を開く

想定日: 2034-09-30
year: 7.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Philips
amount_received_by_company_oku: 1.5141675
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

137

内容を開く

想定日: 2034-09-30
year: 7.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: CNH
amount_received_by_company_oku: 0.38569421
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

138

内容を開く

想定日: 2034-09-30
year: 7.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Stellantis
amount_received_by_company_oku: 0.35352309
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

139

内容を開く

想定日: 2034-09-30
year: 7.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Institut Merieux
amount_received_by_company_oku: 0.11973751
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

140

内容を開く

想定日: 2034-09-30
year: 7.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Christian Louboutin
amount_received_by_company_oku: 0.06428237
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

141

内容を開く

想定日: 2034-09-30
year: 7.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: The Economist Group
amount_received_by_company_oku: 0.09312918
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

142

内容を開く

想定日: 2034-09-30
year: 7.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Tag Holding
amount_received_by_company_oku: 0.01995625
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

143

内容を開く

想定日: 2034-09-30
year: 7.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Lingotto LP interests
amount_received_by_company_oku: 0.75708375
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

144

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想定日: 2034-09-30
year: 7.8986995209
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Other assets incl bioMerieux
amount_received_by_company_oku: 0.77014881
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

145

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想定日: 2034-10-13
year: 7.9342915811
金額: 0
種類: new_portfolio_investment
date_status: forecast_unannounced
company_investment_oku: 2.09856263
estimated_owner_fcfe_y1_oku: 0.1741807
old_holder_cash: 0
verification_gate_id: New_investments
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

146

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想定日: 2034-11-01
year: 7.9863107461
金額: 0
種類: assumed_holdco_notes_refinancing_cash_neutral
date_status: hypothetical_not_issuer_maturity_schedule
new_debt_proceeds_oku: 0.99931554
maturing_principal_repaid_oku: 0.99931554
original_cohort_cash: 0
verification_gate_id: Debt_rollovers
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

147

内容を開く

想定日: 2034-12-31
year: 8.1505817933
金額: 0
種類: equity_incentive_share_delivery
date_status: forecast_vesting_not_confirmed
shares_delivered: 249828
holder_cash: 0
old_holder_shares_unchanged: はい
economic_effect: dilution; equity-based SBC expense already in P&L but reserve credit cancels noncash hit to NAV
verification_gate_id: 2026LTI_and_successor_grants
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

148

内容を開く

想定日: 2035-05-16
year: 8.5229295003422
金額: 0
種類: forecast_dividend_review
注記: 予測の権利落ちより前に発表を確認する管理日。

149

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想定日: 2035-06-15
year: 8.605065024
金額: 0
種類: dividend_ex_date_assumed
date_status: forecast_unannounced
pay_date_assumed: 2035-07-02
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
ex_date_assumed: 2035-06-15

150

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想定日: 2035-07-02
year: 8.6516084873
金額: 1.28253484
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.29793817
per_ordinary_share_eur: 0.686231
holder_shares_on_assumed_ex_date: 186895405.54996
ex_date_assumed: 2035-06-15
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

151

内容を開く

想定日: 2035-09-14
year: 8.8542094456
金額: 0
種類: repurchase_record_date_assumed
date_status: forecast_unannounced
execution_price_eur: 122.875005
tender_election: pro_rata
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

152

内容を開く

想定日: 2035-09-14
year: 8.8542094456
金額: 1.23431936
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.24914362
issuer_shares_purchased: 1016597
old_cohort_shares_tendered_equivalent: 1004532.502143
old_fraction_pre_buyback: 0.988132467579
execution_price_eur: 122.875005
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

153

内容を開く

想定日: 2035-09-30
year: 8.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Ferrari
amount_received_by_company_oku: 2.54215517
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

154

内容を開く

想定日: 2035-09-30
year: 8.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Philips
amount_received_by_company_oku: 1.55959253
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

155

内容を開く

想定日: 2035-09-30
year: 8.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: CNH
amount_received_by_company_oku: 0.39340809
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

156

内容を開く

想定日: 2035-09-30
year: 8.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Stellantis
amount_received_by_company_oku: 0.36766401
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

157

内容を開く

想定日: 2035-09-30
year: 8.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Institut Merieux
amount_received_by_company_oku: 0.12273095
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

158

内容を開く

想定日: 2035-09-30
year: 8.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Christian Louboutin
amount_received_by_company_oku: 0.06556802
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

159

内容を開く

想定日: 2035-09-30
year: 8.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: The Economist Group
amount_received_by_company_oku: 0.09545741
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

160

内容を開く

想定日: 2035-09-30
year: 8.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Tag Holding
amount_received_by_company_oku: 0.02045516
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

161

内容を開く

想定日: 2035-09-30
year: 8.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Lingotto LP interests
amount_received_by_company_oku: 0.77979626
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

162

内容を開く

想定日: 2035-09-30
year: 8.8980150582
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Other assets incl bioMerieux
amount_received_by_company_oku: 0.78170104
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

163

内容を開く

想定日: 2035-10-15
year: 8.93908282
金額: 0
種類: new_portfolio_investment
date_status: forecast_unannounced
company_investment_oku: 2.09856263
estimated_owner_fcfe_y1_oku: 0.1741807
old_holder_cash: 0
verification_gate_id: New_investments
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

164

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想定日: 2035-11-01
year: 8.9856262834
金額: 0
種類: assumed_holdco_notes_refinancing_cash_neutral
date_status: hypothetical_not_issuer_maturity_schedule
new_debt_proceeds_oku: 0.99931554
maturing_principal_repaid_oku: 0.99931554
original_cohort_cash: 0
verification_gate_id: Debt_rollovers
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

165

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想定日: 2035-12-31
year: 9.1498973306
金額: 0
種類: equity_incentive_share_delivery
date_status: forecast_vesting_not_confirmed
shares_delivered: 249828
holder_cash: 0
old_holder_shares_unchanged: はい
economic_effect: dilution; equity-based SBC expense already in P&L but reserve credit cancels noncash hit to NAV
verification_gate_id: 2026LTI_and_successor_grants
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

166

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想定日: 2036-05-14
year: 9.5195071868583
金額: 0
種類: forecast_dividend_review
注記: 予測の権利落ちより前に発表を確認する管理日。

167

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想定日: 2036-06-13
year: 9.6016427105
金額: 0
種類: dividend_ex_date_assumed
date_status: forecast_unannounced
pay_date_assumed: 2036-06-30
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06
ex_date_assumed: 2036-06-13

168

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想定日: 2036-06-30
year: 9.6481861739
金額: 1.33049401
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.34826144
per_ordinary_share_eur: 0.715739
holder_shares_on_assumed_ex_date: 185890873.04781
ex_date_assumed: 2036-06-13
ex_date_confirmed: いいえ
verification_gate_id: Exor_dividend_ex_and_payment
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

169

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想定日: 2036-09-15
year: 9.8590006845
金額: 0
種類: repurchase_record_date_assumed
date_status: forecast_unannounced
execution_price_eur: 130.283873
tender_election: pro_rata
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

170

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想定日: 2036-09-15
year: 9.8590006845
金額: 1.05031258
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.06433847
issuer_shares_purchased: 816938
old_cohort_shares_tendered_equivalent: 806172.364557
old_fraction_pre_buyback: 0.986821967588
execution_price_eur: 130.283873
verification_gate_id: Exor_buyback_execution
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

171

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想定日: 2036-09-30
year: 9.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Ferrari
amount_received_by_company_oku: 2.28518855
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

172

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想定日: 2036-09-30
year: 9.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Philips
amount_received_by_company_oku: 1.36872404
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

173

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想定日: 2036-09-30
year: 9.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: CNH
amount_received_by_company_oku: 0.34190936
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

174

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想定日: 2036-09-30
year: 9.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Stellantis
amount_received_by_company_oku: 0.32580068
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

175

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想定日: 2036-09-30
year: 9.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Institut Merieux
amount_received_by_company_oku: 0.10718783
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

176

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想定日: 2036-09-30
year: 9.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Christian Louboutin
amount_received_by_company_oku: 0.05698489
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

177

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想定日: 2036-09-30
year: 9.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: The Economist Group
amount_received_by_company_oku: 0.08336831
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

178

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想定日: 2036-09-30
year: 9.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Tag Holding
amount_received_by_company_oku: 0.01786464
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

179

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想定日: 2036-09-30
year: 9.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Lingotto LP interests
amount_received_by_company_oku: 0.68436202
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

180

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想定日: 2036-09-30
year: 9.9000684463
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Other assets incl bioMerieux
amount_received_by_company_oku: 0.6760429
old_holder_cash: 0
verification_gate_id: Investment_dividend_inflow
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

181

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想定日: 2036-10-01
year: 9.9028062971
金額: 0
種類: assumed_holdco_notes_refinancing_cash_neutral
date_status: hypothetical_not_issuer_maturity_schedule
new_debt_proceeds_oku: 0.85147159
maturing_principal_repaid_oku: 0.85147159
original_cohort_cash: 0
verification_gate_id: Debt_rollovers
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

182

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想定日: 2036-10-01
year: 9.9028062971
金額: 0
種類: new_portfolio_investment
date_status: forecast_unannounced
company_investment_oku: 1.78809035
estimated_owner_fcfe_y1_oku: 0.1484115
old_holder_cash: 0
verification_gate_id: New_investments
issuer_specific_event_date_confirmed_asof_cutoff: いいえ
issuer_event_date_confirmed_source_id: 未確認
verified_actual_date: 未確認
future_date_is_model_assumption: はい
must_recheck_before_upgrading_to_issuer_actual: はい
confirmed_future_payment_date: 未確認
confirmed_future_ex_date: 未確認
as_of_evidence_cutoff: 2026-11-06

その他の数値・前提

assumptions

内容を開く

growth_shift: 0.025
growth_scale: 1.08
r_shift: -0.004
tg_shift: 0.004
invest_div_mult: 1.12
div_growth: 0.043
buyback_after2027: 1.25
buyback_initial: 3.57
new_invest_annual: 3
new_invest_return: 0.083
market_trade_growth: 0.06
cash_interest: 0.03
debt_rate: 0.027
税率: 1.00%
sell_welltec: 2027-03-31
welltec_sale_mult: 1.04
cash_dvd_base: 0.49
sbc_shares_annual: 250000
sbc_expense_annual: 0.28
equity_issuance_2030_oku: 0
terminal_coc: 0.09
holdco_terminal_g: 0.022

financial_engine

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accounting_method: IFRS 10 investment entity / FVTPL and selected FVTOCI; parent-only investment holding and services consolidation
company_ifrs_profit_2027_to_2036: forecast fair value remeasurement plus investee dividends minus financing and cash costs and SBC expense; cannot be equated with investee EBIT
old_holder_tender_choice: ALL original 2026-11-06 cohort participates pro rata at each issuer tender/buyback; after buyback its ownership fraction remains unchanged until employee delivery/third-party capital issuance
future_sbc_corporate_equity: sbc P&L expense -SBC; noncash equity credit +SBC; future awards deliver treasury reducing treasury and diluting old holder, not cash to old shareholders
liability_equity_identity: book_equity = fair_market_value_assets + cash - holdco_debt - other_liabilities; shareholder payouts/repurchases decrease holdco NAV at settlement
new_private_deployment: cash for investment reduces cash, increases new FVPL asset at initial cost; no instant gain
net_debt_terminal: subtract holdco net debt/principal exactly once; investee operating financing is already in investee equity FCFE, not separately subtracted
terminal_sbc_policy: a discounted sustainable cash offset cost at projected share price is deducted, and no continuation of the already modeled year-2036 award in terminal
terminal_no_market_discount_reversion: はい
forecast_IFRS_PnL_vs_OCI_classification: FVTPL changes contribute P&L; assumed FVTOCI mark (2.32/21.31 of broad other-investment bucket) contributes OCI. Profit + OCI reconcile book equity. This is a stated sensitivity/assumption, not a verified allocation.
ifrs_revenue_and_operating_profit_standard_field_support: いいえ

annual_ledger

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period

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start_exclusive: 2026-11-06
end_inclusive: 2026-12-31
actual_days: 55
year_fraction_ACT_36525: 0.150581793292
kind: post_base_stub

opening

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portfolio_assets_oku

358.41135658

現金（億）

21.06

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

343.27135658

株数

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ordinary_issued: 207779752
ordinary_treasury: 7088492
ordinary_outstanding: 200691260
old_holder_remaining_shares: 200691260
old_holder_equivalence_factor: 1
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 38.65910532
Christian Louboutin: 5.56363888
Clarivate: 1.42028673
Ferrari: 143.38282658
Institut Merieux: 6.8864219
Juventus: 4.34984904
Lingotto LP interests: 44.98307466
Other assets incl bioMerieux: 21.4768627
Philips: 51.50254086
Stellantis: 18.33996334
Tag Holding: 2.42659877
The Economist Group: 4.09839354
Via Transportation: 4.89340313
Welltec: 4.77857558

fair_value_investments_end_oku

352.76154103

company_investment_cash_dividends_oku

dividend_by_investee_oku

記載なし

market_or_private_revaluations_oku

4.91770797

asset_sales_cash_oku

10.56752352

assets_sold

1: Iveco tender receivable settlement (not new investment gain)

new_investment_cash_deployed_oku

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

4.89954178

estimated_FVTOCI_mark_through_OCI_oku

0.01816619

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

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cash_interest_received_oku

0.14287588

cash_operating_expenses_oku

0.05270363

sbc_expensed_in_parent_ifrs_profit_oku

0.0421629

noncash_equity_compensation_reserve_credit_oku

0.0421629

cash_income_tax_oku

interest_paid_oku

0.14441396

debt_new_borrowings_oku

debt_repaid_oku

gross_debt_end_oku

35.52

other_liabilities_oku

0.68

cash_end_oku

30.5032822

parent_profit_after_sbc_oku

4.80313717

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

347.06482323

book_equity_rollforward_oku

内容を開く

begin_equity: 343.27135658
net_profit_after_sbc: 4.80313717
sbc_equity_reserve: 0.0421629
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: 0
cash_buybacks: -1.0699996
expected_equity: 347.06482324
difference_oku: -1.0E-8
estimated_FVTOCI_other_comprehensive_income: 0.01816619

profit_before_income_tax_oku

4.80313717

total_Other_Comprehensive_Income_proxy_oku

0.01816619

capital

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ordinary_issued: 206330041
ordinary_treasury: 7085130
ordinary_outstanding: 199244911
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 199241549
old_holder_remaining_fraction: 0.999983126294
issuer_shares_repurchased: 1449711
treasury_shares_cancelled: 1449711
sbc_treasury_delivered_shares: 3362
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 1.0699996
old_cohort_dividend_oku: 0
issuer_cash_dividends_oku: 0
issuer_buybacks_oku: 1.0699996

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 1.0699996
cohort_share_of_year_end_nav_oku: 347.05896696
remaining_share_equivalence_factor: 0.999983126294

actions

内容を開く

日付: 2026-11-13
event: Iveco receivable conversion
cash_inflow_oku: 10.56752352
asset_carrying_value_reduction_oku: 10.56752352
ifrs_profit_effect_oku: 0

内容を開く

日付: 2026-12-15
event: pro rata share repurchase
company_cash_oku: 1.0699996
old_holder_cash_oku: 1.0699996
shares_purchased: 1449711

内容を開く

日付: 2026-12-31
event: share-based award delivered
treasury_decrease: 3362
ordinary_outstanding_increase: 3362

内容を開く

日付: 2026-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1449711
old_holder_cash_oku: 0

状態

projection_all_rows_despite_2026_06_30_last_IFRS_report

IFRS_investment_entity_profit_loss_bridge

内容を開く

model_status: forecast_ifrs_style_line_items_not_published_IFRS_results
scope: Exor consolidated investment entity; controlled investees FVTPL, NOT underlying investees revenue
期間開始（翌日から）: 2026-11-06
期間末: 2026-12-31
期間日数: 55
sales_revenue_oku: 未確認
営業利益（億）: 未確認
sales_operating_profit_support: not_reported_as_standard_IFRS_lines_in_Exor_income_statement
dividend_income_oku: 0
change_in_fair_value_of_investment_activities_FVTPL_oku: 4.89954178
general_and_administrative_expenses_including_SBC_oku: -0.09486653
ga_cash_component_oku: -0.05270363
ga_SBC_non_cash_component_oku: -0.0421629
other_income_expenses_net_oku: 0
financial_income_oku: 0.14287588
financial_expenses_oku: -0.14441396
profit_before_taxes_oku: 4.80313717
income_taxes_oku: -0
profit_after_taxes_oku: 4.80313717
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: 0.01816619
pre_tax_sum_difference_oku: 0
net_sum_difference_oku: 0
company_book_equity_change_from_profit_plus_OCI_plus_SBC_credit_reconciled: はい
FVTPL_FVTOCI_proxy_assumption: 2.32/21.31 share of 2026-06-30 broad Other GAV bucket allocated to FVTOCI mark changes; not a verified security level mapping
alternative_investment_activity_income_oku: 4.89954178
alternative_pre_financing_result_oku: 4.80467525
alternative_accounting_data_are_not_IFRS_sales_or_IFRS_EBIT: はい
do_not_readd_SBC_to_pre_tax_profit: はい
portfolio_realized_sale_proceeds_not_added_to_investment_income_without_gain: はい

内容を開く

period

内容を開く

start_exclusive: 2026-12-31
end_inclusive: 2027-12-31
actual_days: 365
year_fraction_ACT_36525: 0.999315537303
kind: full_calendar_year

opening

内容を開く

portfolio_assets_oku

352.76154103

現金（億）

30.5032822

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

347.06482323

株数

内容を開く

ordinary_issued: 206330041
ordinary_treasury: 7085130
ordinary_outstanding: 199244911
old_holder_remaining_shares: 199241549
old_holder_equivalence_factor: 0.999983126294
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 42.83545447
Christian Louboutin: 5.93488365
Clarivate: 1.48642575
Ferrari: 156.4497946
Institut Merieux: 7.36649076
Juventus: 4.66977093
Lingotto LP interests: 47.67590314
New diversified investment 2027: 4.04722793
Other assets incl bioMerieux: 21.89895092
Philips: 54.89300873
Stellantis: 20.18363937
Tag Holding: 2.5882813
The Economist Group: 4.27724473
Via Transportation: 5.72857806

fair_value_investments_end_oku

380.03565434

company_investment_cash_dividends_oku

4.78472279

dividend_by_investee_oku

内容を開く

CNH: 0.33577002
Christian Louboutin: 0.05596167
Ferrari: 1.65646543
Institut Merieux: 0.10073101
Lingotto LP interests: 0.61557837
Other assets incl bioMerieux: 0.69392471
Philips: 1.23115674
Tag Holding: 0.0167885
The Economist Group: 0.07834634

market_or_private_revaluations_oku

28.27805534

asset_sales_cash_oku

5.05116995

assets_sold

1: Welltec

new_investment_cash_deployed_oku

4.04722793

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

28.23210299

estimated_FVTOCI_mark_through_OCI_oku

0.04595235

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

1.0880132

cash_operating_expenses_oku

0.36025325

sbc_expensed_in_parent_ifrs_profit_oku

0.2882026

noncash_equity_compensation_reserve_credit_oku

0.2882026

cash_income_tax_oku

0.04554099

interest_paid_oku

0.95838357

debt_new_borrowings_oku

0.35

debt_repaid_oku

0.35

gross_debt_end_oku

35.52

other_liabilities_oku

0.68

cash_end_oku

32.53948265

parent_profit_after_sbc_oku

32.45245857

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

376.37513699

book_equity_rollforward_oku

内容を開く

begin_equity: 347.06482323
net_profit_after_sbc: 32.45245857
sbc_equity_reserve: 0.2882026
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -0.97630006
cash_buybacks: -2.49999969
expected_equity: 376.375137
difference_oku: -1.0E-8
estimated_FVTOCI_other_comprehensive_income: 0.04595235

profit_before_income_tax_oku

32.49799956

total_Other_Comprehensive_Income_proxy_oku

0.04595235

capital

内容を開く

ordinary_issued: 202991150
ordinary_treasury: 7081768
ordinary_outstanding: 195909382
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 195902714.33946
old_holder_remaining_fraction: 0.999965965588
issuer_shares_repurchased: 3338891
treasury_shares_cancelled: 3338891
sbc_treasury_delivered_shares: 3362
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 2.49995751
old_cohort_dividend_oku: 0.97628359
issuer_cash_dividends_oku: 0.97630006
issuer_buybacks_oku: 2.49999969

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 3.4762411
cohort_share_of_year_end_nav_oku: 376.36232728
remaining_share_equivalence_factor: 0.999965965588

actions

内容を開く

日付: 2027-03-31
event: sale of Welltec
company_proceeds_oku: 5.05116995
equity_gain_oku: 0.27259437

内容を開く

日付: 2027-10-15
event: New asset deployment
cost_oku: 4.04722793
asset_adding_oku: 4.04722793

内容を開く

日付: 2027-11-01
event: matched debt refinancing
new_debt_cash_oku: 0.35
principal_repaid_oku: 0.35
net_cash_change_oku: 0
holdco_debt_change_oku: 0

内容を開く

日付: 2027-06-30
event: holder dividend
company_cash_oku: 0.97630006
old_holder_cash_oku: 0.97628359

内容を開く

日付: 2027-03-15
event: pro rata share repurchase
company_cash_oku: 2.49999969
old_holder_cash_oku: 2.49995751
shares_purchased: 3338891

内容を開く

日付: 2027-12-31
event: share-based award delivered
treasury_decrease: 3362
ordinary_outstanding_increase: 3362

内容を開く

日付: 2027-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 3338891
old_holder_cash_oku: 0

状態

projection_all_rows_despite_2026_06_30_last_IFRS_report

IFRS_investment_entity_profit_loss_bridge

内容を開く

model_status: forecast_ifrs_style_line_items_not_published_IFRS_results
scope: Exor consolidated investment entity; controlled investees FVTPL, NOT underlying investees revenue
期間開始（翌日から）: 2026-12-31
期間末: 2027-12-31
期間日数: 365
sales_revenue_oku: 未確認
営業利益（億）: 未確認
sales_operating_profit_support: not_reported_as_standard_IFRS_lines_in_Exor_income_statement
dividend_income_oku: 4.78472279
change_in_fair_value_of_investment_activities_FVTPL_oku: 28.23210299
general_and_administrative_expenses_including_SBC_oku: -0.64845585
ga_cash_component_oku: -0.36025325
ga_SBC_non_cash_component_oku: -0.2882026
other_income_expenses_net_oku: 0
financial_income_oku: 1.0880132
financial_expenses_oku: -0.95838357
profit_before_taxes_oku: 32.49799956
income_taxes_oku: -0.04554099
profit_after_taxes_oku: 32.45245857
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: 0.04595235
pre_tax_sum_difference_oku: 0
net_sum_difference_oku: 0
company_book_equity_change_from_profit_plus_OCI_plus_SBC_credit_reconciled: はい
FVTPL_FVTOCI_proxy_assumption: 2.32/21.31 share of 2026-06-30 broad Other GAV bucket allocated to FVTOCI mark changes; not a verified security level mapping
alternative_investment_activity_income_oku: 33.01682578
alternative_pre_financing_result_oku: 32.36836993
alternative_accounting_data_are_not_IFRS_sales_or_IFRS_EBIT: はい
do_not_readd_SBC_to_pre_tax_profit: はい
portfolio_realized_sale_proceeds_not_added_to_investment_income_without_gain: はい

内容を開く

period

内容を開く

start_exclusive: 2027-12-31
end_inclusive: 2028-12-31
actual_days: 366
year_fraction_ACT_36525: 1.00205338809
kind: full_calendar_year

opening

内容を開く

portfolio_assets_oku

380.03565434

現金（億）

32.53948265

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

376.37513699

株数

内容を開く

ordinary_issued: 202991150
ordinary_treasury: 7081768
ordinary_outstanding: 195909382
old_holder_remaining_shares: 195902714.33946
old_holder_equivalence_factor: 0.999965965588
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 47.5060644
Christian Louboutin: 6.3346544
Clarivate: 1.55583869
Ferrari: 170.80887281
Institut Merieux: 7.88601961
Juventus: 5.01419722
Lingotto LP interests: 50.55653142
New diversified investment 2027: 4.44122101
New diversified investment 2028: 4.05831622
Other assets incl bioMerieux: 22.33383128
Philips: 58.56139959
Stellantis: 22.21848629
Tag Holding: 2.7619287
The Economist Group: 4.46589926
Via Transportation: 6.70919123

fair_value_investments_end_oku

415.21245215

company_investment_cash_dividends_oku

4.96794421

dividend_by_investee_oku

内容を開く

CNH: 0.34342374
Christian Louboutin: 0.05723729
Ferrari: 1.7523589
Institut Merieux: 0.10353216
Lingotto LP interests: 0.63578283
Other assets incl bioMerieux: 0.70626326
Philips: 1.27156567
Tag Holding: 0.01725536
The Economist Group: 0.08052501

market_or_private_revaluations_oku

31.11848159

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

4.05831622

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

31.07113657

estimated_FVTOCI_mark_through_OCI_oku

0.04734502

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

1.00553384

cash_operating_expenses_oku

0.37207745

sbc_expensed_in_parent_ifrs_profit_oku

0.29766196

noncash_equity_compensation_reserve_credit_oku

0.29766196

cash_income_tax_oku

0.04640391

interest_paid_oku

0.96100928

debt_new_borrowings_oku

3.835

debt_repaid_oku

3.835

gross_debt_end_oku

35.52

other_liabilities_oku

0.68

cash_end_oku

30.82135305

parent_profit_after_sbc_oku

35.36746202

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

409.83380521

book_equity_rollforward_oku

内容を開く

begin_equity: 376.37513699
net_profit_after_sbc: 35.36746202
sbc_equity_reserve: 0.29766196
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.00123408
cash_buybacks: -1.2525667
expected_equity: 409.83380521
difference_oku: 0
estimated_FVTOCI_other_comprehensive_income: 0.04734502

profit_before_income_tax_oku

35.41386593

total_Other_Comprehensive_Income_proxy_oku

0.04734502

capital

内容を開く

ordinary_issued: 201458803
ordinary_treasury: 6745260
ordinary_outstanding: 194713543
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 194370419.49199
old_holder_remaining_fraction: 0.998237803582
issuer_shares_repurchased: 1532347
treasury_shares_cancelled: 1532347
sbc_treasury_delivered_shares: 336508
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 1.25252407
old_cohort_dividend_oku: 1.0012
issuer_cash_dividends_oku: 1.00123408
issuer_buybacks_oku: 1.2525667

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.25372407
cohort_share_of_year_end_nav_oku: 409.11159754
remaining_share_equivalence_factor: 0.998237803582

actions

内容を開く

日付: 2028-10-13
event: New asset deployment
cost_oku: 4.05831622
asset_adding_oku: 4.05831622

内容を開く

日付: 2028-11-01
event: matched debt refinancing
new_debt_cash_oku: 3.835
principal_repaid_oku: 3.835
net_cash_change_oku: 0
holdco_debt_change_oku: 0

内容を開く

日付: 2028-06-30
event: holder dividend
company_cash_oku: 1.00123408
old_holder_cash_oku: 1.0012

内容を開く

日付: 2028-09-15
event: pro rata share repurchase
company_cash_oku: 1.2525667
old_holder_cash_oku: 1.25252407
shares_purchased: 1532347

内容を開く

日付: 2028-12-31
event: share-based award delivered
treasury_decrease: 336508
ordinary_outstanding_increase: 336508

内容を開く

日付: 2028-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1532347
old_holder_cash_oku: 0

状態

projection_all_rows_despite_2026_06_30_last_IFRS_report

IFRS_investment_entity_profit_loss_bridge

内容を開く

model_status: forecast_ifrs_style_line_items_not_published_IFRS_results
scope: Exor consolidated investment entity; controlled investees FVTPL, NOT underlying investees revenue
期間開始（翌日から）: 2027-12-31
期間末: 2028-12-31
期間日数: 366
sales_revenue_oku: 未確認
営業利益（億）: 未確認
sales_operating_profit_support: not_reported_as_standard_IFRS_lines_in_Exor_income_statement
dividend_income_oku: 4.96794421
change_in_fair_value_of_investment_activities_FVTPL_oku: 31.07113657
general_and_administrative_expenses_including_SBC_oku: -0.66973941
ga_cash_component_oku: -0.37207745
ga_SBC_non_cash_component_oku: -0.29766196
other_income_expenses_net_oku: 0
financial_income_oku: 1.00553384
financial_expenses_oku: -0.96100928
profit_before_taxes_oku: 35.41386593
income_taxes_oku: -0.04640391
profit_after_taxes_oku: 35.36746202
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: 0.04734502
pre_tax_sum_difference_oku: 0
net_sum_difference_oku: 0
company_book_equity_change_from_profit_plus_OCI_plus_SBC_credit_reconciled: はい
FVTPL_FVTOCI_proxy_assumption: 2.32/21.31 share of 2026-06-30 broad Other GAV bucket allocated to FVTOCI mark changes; not a verified security level mapping
alternative_investment_activity_income_oku: 36.03908078
alternative_pre_financing_result_oku: 35.36934137
alternative_accounting_data_are_not_IFRS_sales_or_IFRS_EBIT: はい
do_not_readd_SBC_to_pre_tax_profit: はい
portfolio_realized_sale_proceeds_not_added_to_investment_income_without_gain: はい

内容を開く

period

内容を開く

start_exclusive: 2028-12-31
end_inclusive: 2029-12-31
actual_days: 365
year_fraction_ACT_36525: 0.999315537303
kind: full_calendar_year

opening

内容を開く

portfolio_assets_oku

415.21245215

現金（億）

30.82135305

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

409.83380521

株数

内容を開く

ordinary_issued: 201458803
ordinary_treasury: 6745260
ordinary_outstanding: 194713543
old_holder_remaining_shares: 194370419.49199
old_holder_equivalence_factor: 0.998237803582
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 52.70142623
Christian Louboutin: 6.76284108
Clarivate: 1.62829001
Ferrari: 186.5048945
Institut Merieux: 8.4452949
Juventus: 5.38298047
Lingotto LP interests: 53.62178674
New diversified investment 2027: 4.87233204
New diversified investment 2028: 4.45225854
New diversified investment 2029: 4.04722793
Other assets incl bioMerieux: 22.77947672
Philips: 62.51032275
Stellantis: 24.45206167
Tag Holding: 2.9474241
The Economist Group: 4.66384724
Via Transportation: 7.85427333

fair_value_investments_end_oku

453.62673825

company_investment_cash_dividends_oku

5.13112651

dividend_by_investee_oku

内容を開く

CNH: 0.34933513
Christian Louboutin: 0.05822252
Ferrari: 1.84368744
Institut Merieux: 0.10583051
Lingotto LP interests: 0.65306709
Other assets incl bioMerieux: 0.71489858
Philips: 1.30613419
Tag Holding: 0.01763842
The Economist Group: 0.08231262

market_or_private_revaluations_oku

34.36705817

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

4.04722793

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

34.31854116

estimated_FVTOCI_mark_through_OCI_oku

0.04851701

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.95650241

cash_operating_expenses_oku

0.38219267

sbc_expensed_in_parent_ifrs_profit_oku

0.30575414

noncash_equity_compensation_reserve_credit_oku

0.30575414

cash_income_tax_oku

0.04747053

interest_paid_oku

0.95838357

debt_new_borrowings_oku

3.835

debt_repaid_oku

3.835

gross_debt_end_oku

35.52

other_liabilities_oku

0.68

cash_end_oku

29.18665024

parent_profit_after_sbc_oku

38.71236917

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

446.61338849

book_equity_rollforward_oku

内容を開く

begin_equity: 409.83380521
net_profit_after_sbc: 38.71236917
sbc_equity_reserve: 0.30575414
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.03791277
cash_buybacks: -1.24914427
expected_equity: 446.61338849
difference_oku: 0
estimated_FVTOCI_other_comprehensive_income: 0.04851701

profit_before_income_tax_oku

38.7598397

total_Other_Comprehensive_Income_proxy_oku

0.04851701

capital

内容を開く

ordinary_issued: 200016855
ordinary_treasury: 6495432
ordinary_outstanding: 193521423
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 192931012.48759
old_holder_remaining_fraction: 0.996949120654
issuer_shares_repurchased: 1441948
treasury_shares_cancelled: 1441948
sbc_treasury_delivered_shares: 249828
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 1.24694303
old_cohort_dividend_oku: 1.03608377
issuer_cash_dividends_oku: 1.03791277
issuer_buybacks_oku: 1.24914427

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.28302679
cohort_share_of_year_end_nav_oku: 445.25082492
remaining_share_equivalence_factor: 0.996949120654

actions

内容を開く

日付: 2029-10-15
event: New asset deployment
cost_oku: 4.04722793
asset_adding_oku: 4.04722793

内容を開く

日付: 2029-11-01
event: matched debt refinancing
new_debt_cash_oku: 3.835
principal_repaid_oku: 3.835
net_cash_change_oku: 0
holdco_debt_change_oku: 0

内容を開く

日付: 2029-07-02
event: holder dividend
company_cash_oku: 1.03791277
old_holder_cash_oku: 1.03608377

内容を開く

日付: 2029-09-14
event: pro rata share repurchase
company_cash_oku: 1.24914427
old_holder_cash_oku: 1.24694303
shares_purchased: 1441948

内容を開く

日付: 2029-12-31
event: share-based award delivered
treasury_decrease: 249828
ordinary_outstanding_increase: 249828

内容を開く

日付: 2029-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1441948
old_holder_cash_oku: 0

状態

projection_all_rows_despite_2026_06_30_last_IFRS_report

IFRS_investment_entity_profit_loss_bridge

内容を開く

model_status: forecast_ifrs_style_line_items_not_published_IFRS_results
scope: Exor consolidated investment entity; controlled investees FVTPL, NOT underlying investees revenue
期間開始（翌日から）: 2028-12-31
期間末: 2029-12-31
期間日数: 365
sales_revenue_oku: 未確認
営業利益（億）: 未確認
sales_operating_profit_support: not_reported_as_standard_IFRS_lines_in_Exor_income_statement
dividend_income_oku: 5.13112651
change_in_fair_value_of_investment_activities_FVTPL_oku: 34.31854116
general_and_administrative_expenses_including_SBC_oku: -0.68794681
ga_cash_component_oku: -0.38219267
ga_SBC_non_cash_component_oku: -0.30575414
other_income_expenses_net_oku: 0
financial_income_oku: 0.95650241
financial_expenses_oku: -0.95838357
profit_before_taxes_oku: 38.7598397
income_taxes_oku: -0.04747053
profit_after_taxes_oku: 38.71236917
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: 0.04851701
pre_tax_sum_difference_oku: 0
net_sum_difference_oku: 0
company_book_equity_change_from_profit_plus_OCI_plus_SBC_credit_reconciled: はい
FVTPL_FVTOCI_proxy_assumption: 2.32/21.31 share of 2026-06-30 broad Other GAV bucket allocated to FVTOCI mark changes; not a verified security level mapping
alternative_investment_activity_income_oku: 39.44966767
alternative_pre_financing_result_oku: 38.76172086
alternative_accounting_data_are_not_IFRS_sales_or_IFRS_EBIT: はい
do_not_readd_SBC_to_pre_tax_profit: はい
portfolio_realized_sale_proceeds_not_added_to_investment_income_without_gain: はい

内容を開く

period

内容を開く

start_exclusive: 2029-12-31
end_inclusive: 2030-12-31
actual_days: 365
year_fraction_ACT_36525: 0.999315537303
kind: full_calendar_year

opening

内容を開く

portfolio_assets_oku

453.62673825

現金（億）

29.18665024

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

446.61338849

株数

内容を開く

ordinary_issued: 200016855
ordinary_treasury: 6495432
ordinary_outstanding: 193521423
old_holder_remaining_shares: 192931012.48759
old_holder_equivalence_factor: 0.996949120654
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 58.49618092
Christian Louboutin: 7.22274181
Clarivate: 1.7041152
Ferrari: 203.71127775
Institut Merieux: 9.04909362
Juventus: 5.77888692
Lingotto LP interests: 56.89289288
New diversified investment 2027: 5.34529118
New diversified investment 2028: 4.88444098
New diversified investment 2029: 4.44009389
New diversified investment 2030: 4.04722793
Other assets incl bioMerieux: 23.23755596
Philips: 66.77442189
Stellantis: 26.60798044
Tag Holding: 3.14612132
The Economist Group: 4.87215978
Via Transportation: 9.19479076

fair_value_investments_end_oku

495.40527324

company_investment_cash_dividends_oku

5.61751755

dividend_by_investee_oku

内容を開く

CNH: 0.35632183
Christian Louboutin: 0.05938697
Ferrari: 1.94509025
Institut Merieux: 0.10847628
Lingotto LP interests: 0.67265911
Other assets incl bioMerieux: 0.72562206
Philips: 1.34531821
Stellantis: 0.30219302
Tag Holding: 0.01807938
The Economist Group: 0.08437044

market_or_private_revaluations_oku

37.73130706

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

4.04722793

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

37.6814364

estimated_FVTOCI_mark_through_OCI_oku

0.04987066

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.92207664

cash_operating_expenses_oku

0.39365845

sbc_expensed_in_parent_ifrs_profit_oku

0.31492676

noncash_equity_compensation_reserve_credit_oku

0.31492676

cash_income_tax_oku

0.05187552

interest_paid_oku

0.95838357

debt_new_borrowings_oku

3.835

debt_repaid_oku

3.835

gross_debt_end_oku

35.52

other_liabilities_oku

0.68

cash_end_oku

27.95004

parent_profit_after_sbc_oku

42.50218629

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

487.15531324

book_equity_rollforward_oku

内容を開く

begin_equity: 446.61338849
net_profit_after_sbc: 42.50218629
sbc_equity_reserve: 0.31492676
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.07591523
cash_buybacks: -1.24914372
expected_equity: 487.15531325
difference_oku: -1.0E-8
estimated_FVTOCI_other_comprehensive_income: 0.04987066

profit_before_income_tax_oku

42.55406181

total_Other_Comprehensive_Income_proxy_oku

0.04987066

capital

内容を開く

ordinary_issued: 198656256
ordinary_treasury: 6245604
ordinary_outstanding: 192410652
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 191574564.51098
old_holder_remaining_fraction: 0.995654671504
issuer_shares_repurchased: 1360599
treasury_shares_cancelled: 1360599
sbc_treasury_delivered_shares: 249828
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 1.24533273
old_cohort_dividend_oku: 1.07263274
issuer_cash_dividends_oku: 1.07591523
issuer_buybacks_oku: 1.24914372

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.31796547
cohort_share_of_year_end_nav_oku: 485.03846337
remaining_share_equivalence_factor: 0.995654671504

actions

内容を開く

日付: 2030-10-15
event: New asset deployment
cost_oku: 4.04722793
asset_adding_oku: 4.04722793

内容を開く

日付: 2030-11-01
event: matched debt refinancing
new_debt_cash_oku: 3.835
principal_repaid_oku: 3.835
net_cash_change_oku: 0
holdco_debt_change_oku: 0

内容を開く

日付: 2030-07-01
event: holder dividend
company_cash_oku: 1.07591523
old_holder_cash_oku: 1.07263274

内容を開く

日付: 2030-09-13
event: pro rata share repurchase
company_cash_oku: 1.24914372
old_holder_cash_oku: 1.24533273
shares_purchased: 1360599

内容を開く

日付: 2030-12-31
event: share-based award delivered
treasury_decrease: 249828
ordinary_outstanding_increase: 249828

内容を開く

日付: 2030-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1360599
old_holder_cash_oku: 0

状態

projection_all_rows_despite_2026_06_30_last_IFRS_report

IFRS_investment_entity_profit_loss_bridge

内容を開く

model_status: forecast_ifrs_style_line_items_not_published_IFRS_results
scope: Exor consolidated investment entity; controlled investees FVTPL, NOT underlying investees revenue
期間開始（翌日から）: 2029-12-31
期間末: 2030-12-31
期間日数: 365
sales_revenue_oku: 未確認
営業利益（億）: 未確認
sales_operating_profit_support: not_reported_as_standard_IFRS_lines_in_Exor_income_statement
dividend_income_oku: 5.61751755
change_in_fair_value_of_investment_activities_FVTPL_oku: 37.6814364
general_and_administrative_expenses_including_SBC_oku: -0.70858521
ga_cash_component_oku: -0.39365845
ga_SBC_non_cash_component_oku: -0.31492676
other_income_expenses_net_oku: 0
financial_income_oku: 0.92207664
financial_expenses_oku: -0.95838357
profit_before_taxes_oku: 42.55406181
income_taxes_oku: -0.05187552
profit_after_taxes_oku: 42.50218629
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: 0.04987066
pre_tax_sum_difference_oku: 0
net_sum_difference_oku: 0
company_book_equity_change_from_profit_plus_OCI_plus_SBC_credit_reconciled: はい
FVTPL_FVTOCI_proxy_assumption: 2.32/21.31 share of 2026-06-30 broad Other GAV bucket allocated to FVTOCI mark changes; not a verified security level mapping
alternative_investment_activity_income_oku: 43.29895395
alternative_pre_financing_result_oku: 42.59036874
alternative_accounting_data_are_not_IFRS_sales_or_IFRS_EBIT: はい
do_not_readd_SBC_to_pre_tax_profit: はい
portfolio_realized_sale_proceeds_not_added_to_investment_income_without_gain: はい

内容を開く

period

内容を開く

start_exclusive: 2030-12-31
end_inclusive: 2031-12-31
actual_days: 365
year_fraction_ACT_36525: 0.999315537303
kind: full_calendar_year

opening

内容を開く

portfolio_assets_oku

495.40527324

現金（億）

27.95004

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

487.15531324

株数

内容を開く

ordinary_issued: 198656256
ordinary_treasury: 6245604
ordinary_outstanding: 192410652
old_holder_remaining_shares: 191574564.51098
old_holder_equivalence_factor: 0.995654671504
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 64.96014723
Christian Louboutin: 7.71676848
Clarivate: 1.78347137
Ferrari: 222.57753865
Institut Merieux: 9.70110474
Juventus: 6.20391142
Lingotto LP interests: 60.38440195
New diversified investment 2027: 5.86416065
New diversified investment 2028: 5.35857554
New diversified investment 2029: 4.87109551
New diversified investment 2030: 4.44009389
New diversified investment 2031: 2.09856263
Other assets incl bioMerieux: 23.70855428
Philips: 71.38080407
Stellantis: 28.96854124
Tag Holding: 3.35898031
The Economist Group: 5.09143585
Via Transportation: 10.76409918

fair_value_investments_end_oku

539.23224699

company_investment_cash_dividends_oku

5.82159621

dividend_by_investee_oku

内容を開く

CNH: 0.36344827
Christian Louboutin: 0.06057471
Ferrari: 2.05207021
Institut Merieux: 0.11118818
Lingotto LP interests: 0.69283888
Other assets incl bioMerieux: 0.73650639
Philips: 1.38567776
Stellantis: 0.31428074
Tag Holding: 0.01853136
The Economist Group: 0.0864797

market_or_private_revaluations_oku

41.72841112

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

2.09856263

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

41.67713397

estimated_FVTOCI_mark_through_OCI_oku

0.05127715

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.94954184

cash_operating_expenses_oku

0.40546821

sbc_expensed_in_parent_ifrs_profit_oku

0.32437457

noncash_equity_compensation_reserve_credit_oku

0.32437457

cash_income_tax_oku

0.05407286

interest_paid_oku

0.95838357

debt_new_borrowings_oku

3.835

debt_repaid_oku

3.835

gross_debt_end_oku

35.52

other_liabilities_oku

0.68

cash_end_oku

29.22518032

parent_profit_after_sbc_oku

46.70597281

equity_issuance_cash_oku

option_exercise_cash_oku

0.38537211

ordinary_equity_end_oku

532.2574273

book_equity_rollforward_oku

内容を開く

begin_equity: 487.15531324
net_profit_after_sbc: 46.70597281
sbc_equity_reserve: 0.32437457
third_party_issue: 0
stock_option_cash_exercise: 0.38537211
cash_dividends: -1.11573851
cash_buybacks: -1.24914405
expected_equity: 532.25742732
difference_oku: -2.0E-8
estimated_FVTOCI_other_comprehensive_income: 0.05127715

profit_before_income_tax_oku

46.76004567

total_Other_Comprehensive_Income_proxy_oku

0.05127715

capital

内容を開く

ordinary_issued: 197373030
ordinary_treasury: 5550053
ordinary_outstanding: 191822977
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 190296914.54948
old_holder_remaining_fraction: 0.99204442307
issuer_shares_repurchased: 1283226
treasury_shares_cancelled: 1283226
sbc_treasury_delivered_shares: 695551
2026_grant_PSO_exercised_from_treasury_shares: 445723
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 1.24371611
old_cohort_dividend_oku: 1.11089026
issuer_cash_dividends_oku: 1.11573851
issuer_buybacks_oku: 1.24914405

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.35460637
cohort_share_of_year_end_nav_oku: 528.02301239
remaining_share_equivalence_factor: 0.99204442307

actions

内容を開く

日付: 2031-10-15
event: New asset deployment
cost_oku: 2.09856263
asset_adding_oku: 2.09856263

内容を開く

日付: 2031-11-01
event: matched debt refinancing
new_debt_cash_oku: 3.835
principal_repaid_oku: 3.835
net_cash_change_oku: 0
holdco_debt_change_oku: 0

内容を開く

日付: 2031-06-30
event: holder dividend
company_cash_oku: 1.11573851
old_holder_cash_oku: 1.11089026

内容を開く

日付: 2031-09-15
event: pro rata share repurchase
company_cash_oku: 1.24914405
old_holder_cash_oku: 1.24371611
shares_purchased: 1283226

内容を開く

日付: 2031-06-30
event: option exercise 2026 PSOs from treasury
shares_treasury_delivered: 445723
company_cash_from_strike_oku: 0.38537211

内容を開く

日付: 2031-12-31
event: share-based award delivered
treasury_decrease: 249828
ordinary_outstanding_increase: 249828

内容を開く

日付: 2031-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1283226
old_holder_cash_oku: 0

状態

projection_all_rows_despite_2026_06_30_last_IFRS_report

IFRS_investment_entity_profit_loss_bridge

内容を開く

model_status: forecast_ifrs_style_line_items_not_published_IFRS_results
scope: Exor consolidated investment entity; controlled investees FVTPL, NOT underlying investees revenue
期間開始（翌日から）: 2030-12-31
期間末: 2031-12-31
期間日数: 365
sales_revenue_oku: 未確認
営業利益（億）: 未確認
sales_operating_profit_support: not_reported_as_standard_IFRS_lines_in_Exor_income_statement
dividend_income_oku: 5.82159621
change_in_fair_value_of_investment_activities_FVTPL_oku: 41.67713397
general_and_administrative_expenses_including_SBC_oku: -0.72984278
ga_cash_component_oku: -0.40546821
ga_SBC_non_cash_component_oku: -0.32437457
other_income_expenses_net_oku: 0
financial_income_oku: 0.94954184
financial_expenses_oku: -0.95838357
profit_before_taxes_oku: 46.76004567
income_taxes_oku: -0.05407286
profit_after_taxes_oku: 46.70597281
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: 0.05127715
pre_tax_sum_difference_oku: 0
net_sum_difference_oku: 0
company_book_equity_change_from_profit_plus_OCI_plus_SBC_credit_reconciled: はい
FVTPL_FVTOCI_proxy_assumption: 2.32/21.31 share of 2026-06-30 broad Other GAV bucket allocated to FVTOCI mark changes; not a verified security level mapping
alternative_investment_activity_income_oku: 47.49873018
alternative_pre_financing_result_oku: 46.7688874
alternative_accounting_data_are_not_IFRS_sales_or_IFRS_EBIT: はい
do_not_readd_SBC_to_pre_tax_profit: はい
portfolio_realized_sale_proceeds_not_added_to_investment_income_without_gain: はい

内容を開く

period

内容を開く

start_exclusive: 2031-12-31
end_inclusive: 2032-12-31
actual_days: 366
year_fraction_ACT_36525: 1.00205338809
kind: full_calendar_year

opening

内容を開く

portfolio_assets_oku

539.23224699

現金（億）

29.22518032

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

532.2574273

株数

内容を開く

ordinary_issued: 197373030
ordinary_treasury: 5550053
ordinary_outstanding: 191822977
old_holder_remaining_shares: 190296914.54948
old_holder_equivalence_factor: 0.99204442307
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 72.19221753
Christian Louboutin: 8.24903278
Clarivate: 1.86675572
Ferrari: 243.32804572
Institut Merieux: 10.40734829
Juventus: 6.66149066
Lingotto LP interests: 64.12256918
New diversified investment 2027: 6.43503009
New diversified investment 2028: 5.88022684
New diversified investment 2029: 5.34529118
New diversified investment 2030: 4.87233204
New diversified investment 2031: 2.30285534
New diversified investment 2032: 2.10431211
Other assets incl bioMerieux: 24.19439337
Philips: 76.37337938
Stellantis: 31.56130509
Tag Holding: 3.58768049
The Economist Group: 5.32297027
Via Transportation: 12.60668862

fair_value_investments_end_oku

587.41392469

company_investment_cash_dividends_oku

6.05085222

dividend_by_investee_oku

内容を開く

CNH: 0.3717329
Christian Louboutin: 0.06195548
Ferrari: 2.1708654
Institut Merieux: 0.11428013
Lingotto LP interests: 0.71557918
Other assets incl bioMerieux: 0.74960208
Philips: 1.43115836
Stellantis: 0.32774745
Tag Holding: 0.01904669
The Economist Group: 0.08888454

market_or_private_revaluations_oku

46.07736559

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

2.10431211

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

46.02447274

estimated_FVTOCI_mark_through_OCI_oku

0.05289285

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.99719505

cash_operating_expenses_oku

0.41877645

sbc_expensed_in_parent_ifrs_profit_oku

0.33502116

noncash_equity_compensation_reserve_credit_oku

0.33502116

cash_income_tax_oku

0.05668262

interest_paid_oku

0.96100928

debt_new_borrowings_oku

1.00205339

debt_repaid_oku

1.00205339

gross_debt_end_oku

35.52

other_liabilities_oku

0.68

cash_end_oku

30.31971981

parent_profit_after_sbc_oku

51.3010305

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

581.5336445

book_equity_rollforward_oku

内容を開く

begin_equity: 532.2574273
net_profit_after_sbc: 51.3010305
sbc_equity_reserve: 0.33502116
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.16016096
cash_buybacks: -1.25256634
expected_equity: 581.53364451
difference_oku: -1.0E-8
estimated_FVTOCI_other_comprehensive_income: 0.05289285

profit_before_income_tax_oku

51.35771312

total_Other_Comprehensive_Income_proxy_oku

0.05289285

capital

内容を開く

ordinary_issued: 196159268
ordinary_treasury: 5299540
ordinary_outstanding: 190859728
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 189092808.72645
old_holder_remaining_fraction: 0.99074231483
issuer_shares_repurchased: 1213762
treasury_shares_cancelled: 1213762
sbc_treasury_delivered_shares: 250513
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 1.24260145
old_cohort_dividend_oku: 1.15093121
issuer_cash_dividends_oku: 1.16016096
issuer_buybacks_oku: 1.25256634

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.39353267
cohort_share_of_year_end_nav_oku: 576.14998911
remaining_share_equivalence_factor: 0.99074231483

actions

内容を開く

日付: 2032-10-15
event: New asset deployment
cost_oku: 2.10431211
asset_adding_oku: 2.10431211

内容を開く

日付: 2032-11-01
event: matched debt refinancing
new_debt_cash_oku: 1.00205339
principal_repaid_oku: 1.00205339
net_cash_change_oku: 0
holdco_debt_change_oku: 0

内容を開く

日付: 2032-06-30
event: holder dividend
company_cash_oku: 1.16016096
old_holder_cash_oku: 1.15093121

内容を開く

日付: 2032-09-15
event: pro rata share repurchase
company_cash_oku: 1.25256634
old_holder_cash_oku: 1.24260145
shares_purchased: 1213762

内容を開く

日付: 2032-12-31
event: share-based award delivered
treasury_decrease: 250513
ordinary_outstanding_increase: 250513

内容を開く

日付: 2032-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1213762
old_holder_cash_oku: 0

状態

projection_all_rows_despite_2026_06_30_last_IFRS_report

IFRS_investment_entity_profit_loss_bridge

内容を開く

model_status: forecast_ifrs_style_line_items_not_published_IFRS_results
scope: Exor consolidated investment entity; controlled investees FVTPL, NOT underlying investees revenue
期間開始（翌日から）: 2031-12-31
期間末: 2032-12-31
期間日数: 366
sales_revenue_oku: 未確認
営業利益（億）: 未確認
sales_operating_profit_support: not_reported_as_standard_IFRS_lines_in_Exor_income_statement
dividend_income_oku: 6.05085222
change_in_fair_value_of_investment_activities_FVTPL_oku: 46.02447274
general_and_administrative_expenses_including_SBC_oku: -0.75379761
ga_cash_component_oku: -0.41877645
ga_SBC_non_cash_component_oku: -0.33502116
other_income_expenses_net_oku: 0
financial_income_oku: 0.99719505
financial_expenses_oku: -0.96100928
profit_before_taxes_oku: 51.35771312
income_taxes_oku: -0.05668262
profit_after_taxes_oku: 51.3010305
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: 0.05289285
pre_tax_sum_difference_oku: 0
net_sum_difference_oku: 0
company_book_equity_change_from_profit_plus_OCI_plus_SBC_credit_reconciled: はい
FVTPL_FVTOCI_proxy_assumption: 2.32/21.31 share of 2026-06-30 broad Other GAV bucket allocated to FVTOCI mark changes; not a verified security level mapping
alternative_investment_activity_income_oku: 52.07532496
alternative_pre_financing_result_oku: 51.32152735
alternative_accounting_data_are_not_IFRS_sales_or_IFRS_EBIT: はい
do_not_readd_SBC_to_pre_tax_profit: はい
portfolio_realized_sale_proceeds_not_added_to_investment_income_without_gain: はい

内容を開く

period

内容を開く

start_exclusive: 2032-12-31
end_inclusive: 2033-12-31
actual_days: 365
year_fraction_ACT_36525: 0.999315537303
kind: full_calendar_year

opening

内容を開く

portfolio_assets_oku

587.41392469

現金（億）

30.31971981

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

581.5336445

株数

内容を開く

ordinary_issued: 196159268
ordinary_treasury: 5299540
ordinary_outstanding: 190859728
old_holder_remaining_shares: 189092808.72645
old_holder_equivalence_factor: 0.99074231483
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 80.24004112
Christian Louboutin: 8.81941644
Clarivate: 1.95368563
Ferrari: 266.03046559
Institut Merieux: 11.16828551
Juventus: 7.15142874
Lingotto LP interests: 68.10361126
New diversified investment 2027: 7.05968093
New diversified investment 2028: 6.45102272
New diversified investment 2029: 5.86416065
New diversified investment 2030: 5.34529118
New diversified investment 2031: 2.52639439
New diversified investment 2032: 2.3085785
New diversified investment 2033: 2.09856263
Other assets incl bioMerieux: 24.69285141
Philips: 81.75674445
Stellantis: 34.39416737
Tag Holding: 3.83207703
The Economist Group: 5.56615924
Via Transportation: 14.75831807

fair_value_investments_end_oku

640.12094284

company_investment_cash_dividends_oku

6.25609494

dividend_by_investee_oku

内容を開く

CNH: 0.37813158
Christian Louboutin: 0.06302193
Ferrari: 2.28400545
Institut Merieux: 0.11681708
Lingotto LP interests: 0.73503277
Other assets incl bioMerieux: 0.7587673
Philips: 1.47006554
Stellantis: 0.33992605
Tag Holding: 0.01946951
The Economist Group: 0.09085773

market_or_private_revaluations_oku

50.60845552

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

2.09856263

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

50.55418885

estimated_FVTOCI_mark_through_OCI_oku

0.05426667

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

1.03360961

cash_operating_expenses_oku

0.43016122

sbc_expensed_in_parent_ifrs_profit_oku

0.34412898

noncash_equity_compensation_reserve_credit_oku

0.34412898

cash_income_tax_oku

0.0590116

interest_paid_oku

0.95838357

debt_new_borrowings_oku

0.99931554

debt_repaid_oku

0.99931554

gross_debt_end_oku

35.52

other_liabilities_oku

0.68

cash_end_oku

31.61019025

parent_profit_after_sbc_oku

56.05220803

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

635.53113309

book_equity_rollforward_oku

内容を開く

begin_equity: 581.5336445
net_profit_after_sbc: 56.05220803
sbc_equity_reserve: 0.34412898
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.20397157
cash_buybacks: -1.24914352
expected_equity: 635.53113309
difference_oku: 0
estimated_FVTOCI_other_comprehensive_income: 0.05426667

profit_before_income_tax_oku

56.11121963

total_Other_Comprehensive_Income_proxy_oku

0.05426667

capital

内容を開く

ordinary_issued: 195017293
ordinary_treasury: 5049712
ordinary_outstanding: 189967581
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 187961405.77147
old_holder_remaining_fraction: 0.989439381088
issuer_shares_repurchased: 1141975
treasury_shares_cancelled: 1141975
sbc_treasury_delivered_shares: 249828
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 1.23757935
old_cohort_dividend_oku: 1.19282558
issuer_cash_dividends_oku: 1.20397157
issuer_buybacks_oku: 1.24914352

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.43040493
cohort_share_of_year_end_nav_oku: 628.81953098
remaining_share_equivalence_factor: 0.989439381088

actions

内容を開く

日付: 2033-10-14
event: New asset deployment
cost_oku: 2.09856263
asset_adding_oku: 2.09856263

内容を開く

日付: 2033-11-01
event: matched debt refinancing
new_debt_cash_oku: 0.99931554
principal_repaid_oku: 0.99931554
net_cash_change_oku: 0
holdco_debt_change_oku: 0

内容を開く

日付: 2033-06-30
event: holder dividend
company_cash_oku: 1.20397157
old_holder_cash_oku: 1.19282558

内容を開く

日付: 2033-09-15
event: pro rata share repurchase
company_cash_oku: 1.24914352
old_holder_cash_oku: 1.23757935
shares_purchased: 1141975

内容を開く

日付: 2033-12-31
event: share-based award delivered
treasury_decrease: 249828
ordinary_outstanding_increase: 249828

内容を開く

日付: 2033-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1141975
old_holder_cash_oku: 0

状態

projection_all_rows_despite_2026_06_30_last_IFRS_report

IFRS_investment_entity_profit_loss_bridge

内容を開く

model_status: forecast_ifrs_style_line_items_not_published_IFRS_results
scope: Exor consolidated investment entity; controlled investees FVTPL, NOT underlying investees revenue
期間開始（翌日から）: 2032-12-31
期間末: 2033-12-31
期間日数: 365
sales_revenue_oku: 未確認
営業利益（億）: 未確認
sales_operating_profit_support: not_reported_as_standard_IFRS_lines_in_Exor_income_statement
dividend_income_oku: 6.25609494
change_in_fair_value_of_investment_activities_FVTPL_oku: 50.55418885
general_and_administrative_expenses_including_SBC_oku: -0.7742902
ga_cash_component_oku: -0.43016122
ga_SBC_non_cash_component_oku: -0.34412898
other_income_expenses_net_oku: 0
financial_income_oku: 1.03360961
financial_expenses_oku: -0.95838357
profit_before_taxes_oku: 56.11121963
income_taxes_oku: -0.0590116
profit_after_taxes_oku: 56.05220803
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: 0.05426667
pre_tax_sum_difference_oku: 0
net_sum_difference_oku: 0
company_book_equity_change_from_profit_plus_OCI_plus_SBC_credit_reconciled: はい
FVTPL_FVTOCI_proxy_assumption: 2.32/21.31 share of 2026-06-30 broad Other GAV bucket allocated to FVTOCI mark changes; not a verified security level mapping
alternative_investment_activity_income_oku: 56.81028379
alternative_pre_financing_result_oku: 56.03599359
alternative_accounting_data_are_not_IFRS_sales_or_IFRS_EBIT: はい
do_not_readd_SBC_to_pre_tax_profit: はい
portfolio_realized_sale_proceeds_not_added_to_investment_income_without_gain: はい

内容を開く

period

内容を開く

start_exclusive: 2033-12-31
end_inclusive: 2034-12-31
actual_days: 365
year_fraction_ACT_36525: 0.999315537303
kind: full_calendar_year

opening

内容を開く

portfolio_assets_oku

640.12094284

現金（億）

31.61019025

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

635.53113309

株数

内容を開く

ordinary_issued: 195017293
ordinary_treasury: 5049712
ordinary_outstanding: 189967581
old_holder_remaining_shares: 187961405.77147
old_holder_equivalence_factor: 0.989439381088
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 89.21960832
Christian Louboutin: 9.43233681
Clarivate: 2.04466363
Ferrari: 290.93848974
Institut Merieux: 11.99047964
Juventus: 7.67740069
Lingotto LP interests: 72.3553993
New diversified investment 2027: 7.74496687
New diversified investment 2028: 7.07722597
New diversified investment 2029: 6.43339697
New diversified investment 2030: 5.86416065
New diversified investment 2031: 2.77163246
New diversified investment 2032: 2.5326731
New diversified investment 2033: 2.30227091
New diversified investment 2034: 2.09856263
Other assets incl bioMerieux: 25.20582955
Philips: 87.57908844
Stellantis: 37.498214
Tag Holding: 4.09396167
The Economist Group: 5.82233825
Via Transportation: 17.27717395

fair_value_investments_end_oku

697.95987355

company_investment_cash_dividends_oku

6.48734842

dividend_by_investee_oku

内容を開く

CNH: 0.38569421
Christian Louboutin: 0.06428237
Ferrari: 2.40962575
Institut Merieux: 0.11973751
Lingotto LP interests: 0.75708375
Other assets incl bioMerieux: 0.77014881
Philips: 1.5141675
Stellantis: 0.35352309
Tag Holding: 0.01995625
The Economist Group: 0.09312918

market_or_private_revaluations_oku

55.74036809

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

2.09856263

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

55.68452063

estimated_FVTOCI_mark_through_OCI_oku

0.05584746

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

1.07923008

cash_operating_expenses_oku

0.44306606

sbc_expensed_in_parent_ifrs_profit_oku

0.35445285

noncash_equity_compensation_reserve_credit_oku

0.35445285

cash_income_tax_oku

0.06165129

interest_paid_oku

0.95838357

debt_new_borrowings_oku

0.99931554

debt_repaid_oku

0.99931554

gross_debt_end_oku

35.52

other_liabilities_oku

0.68

cash_end_oku

33.11608898

parent_profit_after_sbc_oku

61.43354536

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

694.87596253

book_equity_rollforward_oku

内容を開く

begin_equity: 635.53113309
net_profit_after_sbc: 61.43354536
sbc_equity_reserve: 0.35445285
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.24987255
cash_buybacks: -1.24914367
expected_equity: 694.87596254
difference_oku: -1.0E-8
estimated_FVTOCI_other_comprehensive_income: 0.05584746

profit_before_income_tax_oku

61.49519665

total_Other_Comprehensive_Income_proxy_oku

0.05584746

capital

内容を開く

ordinary_issued: 193939915
ordinary_treasury: 4799884
ordinary_outstanding: 189140031
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 186895405.54996
old_holder_remaining_fraction: 0.988132467579
issuer_shares_repurchased: 1077378
treasury_shares_cancelled: 1077378
sbc_treasury_delivered_shares: 249828
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 1.23595194
old_cohort_dividend_oku: 1.23667313
issuer_cash_dividends_oku: 1.24987255
issuer_buybacks_oku: 1.24914367

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.47262507
cohort_share_of_year_end_nav_oku: 686.62949952
remaining_share_equivalence_factor: 0.988132467579

actions

内容を開く

日付: 2034-10-13
event: New asset deployment
cost_oku: 2.09856263
asset_adding_oku: 2.09856263

内容を開く

日付: 2034-11-01
event: matched debt refinancing
new_debt_cash_oku: 0.99931554
principal_repaid_oku: 0.99931554
net_cash_change_oku: 0
holdco_debt_change_oku: 0

内容を開く

日付: 2034-06-30
event: holder dividend
company_cash_oku: 1.24987255
old_holder_cash_oku: 1.23667313

内容を開く

日付: 2034-09-15
event: pro rata share repurchase
company_cash_oku: 1.24914367
old_holder_cash_oku: 1.23595194
shares_purchased: 1077378

内容を開く

日付: 2034-12-31
event: share-based award delivered
treasury_decrease: 249828
ordinary_outstanding_increase: 249828

内容を開く

日付: 2034-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1077378
old_holder_cash_oku: 0

状態

projection_all_rows_despite_2026_06_30_last_IFRS_report

IFRS_investment_entity_profit_loss_bridge

内容を開く

model_status: forecast_ifrs_style_line_items_not_published_IFRS_results
scope: Exor consolidated investment entity; controlled investees FVTPL, NOT underlying investees revenue
期間開始（翌日から）: 2033-12-31
期間末: 2034-12-31
期間日数: 365
sales_revenue_oku: 未確認
営業利益（億）: 未確認
sales_operating_profit_support: not_reported_as_standard_IFRS_lines_in_Exor_income_statement
dividend_income_oku: 6.48734842
change_in_fair_value_of_investment_activities_FVTPL_oku: 55.68452063
general_and_administrative_expenses_including_SBC_oku: -0.79751891
ga_cash_component_oku: -0.44306606
ga_SBC_non_cash_component_oku: -0.35445285
other_income_expenses_net_oku: 0
financial_income_oku: 1.07923008
financial_expenses_oku: -0.95838357
profit_before_taxes_oku: 61.49519665
income_taxes_oku: -0.06165129
profit_after_taxes_oku: 61.43354536
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: 0.05584746
pre_tax_sum_difference_oku: 0
net_sum_difference_oku: 0
company_book_equity_change_from_profit_plus_OCI_plus_SBC_credit_reconciled: はい
FVTPL_FVTOCI_proxy_assumption: 2.32/21.31 share of 2026-06-30 broad Other GAV bucket allocated to FVTOCI mark changes; not a verified security level mapping
alternative_investment_activity_income_oku: 62.17186905
alternative_pre_financing_result_oku: 61.37435014
alternative_accounting_data_are_not_IFRS_sales_or_IFRS_EBIT: はい
do_not_readd_SBC_to_pre_tax_profit: はい
portfolio_realized_sale_proceeds_not_added_to_investment_income_without_gain: はい

内容を開く

period

内容を開く

start_exclusive: 2034-12-31
end_inclusive: 2035-12-31
actual_days: 365
year_fraction_ACT_36525: 0.999315537303
kind: full_calendar_year

opening

内容を開く

portfolio_assets_oku

697.95987355

現金（億）

33.11608898

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

694.87596253

株数

内容を開く

ordinary_issued: 193939915
ordinary_treasury: 4799884
ordinary_outstanding: 189140031
old_holder_remaining_shares: 186895405.54996
old_holder_equivalence_factor: 0.988132467579
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 99.23951686
Christian Louboutin: 10.09103489
Clarivate: 2.13987825
Ferrari: 318.27169409
Institut Merieux: 12.87902408
Juventus: 8.24205674
Lingotto LP interests: 76.89718454
New diversified investment 2027: 8.49677377
New diversified investment 2028: 7.76421501
New diversified investment 2029: 7.05788929
New diversified investment 2030: 6.43339697
New diversified investment 2031: 3.04067589
New diversified investment 2032: 2.77852065
New diversified investment 2033: 2.52575323
New diversified investment 2034: 2.30227091
New diversified investment 2035: 2.09856263
Other assets incl bioMerieux: 25.73391161
Philips: 93.87848042
Stellantis: 40.90016267
Tag Holding: 4.37460845
The Economist Group: 6.09226572
Via Transportation: 20.22593213

fair_value_investments_end_oku

761.46380881

company_investment_cash_dividends_oku

6.72852863

dividend_by_investee_oku

内容を開く

CNH: 0.39340809
Christian Louboutin: 0.06556802
Ferrari: 2.54215517
Institut Merieux: 0.12273095
Lingotto LP interests: 0.77979626
Other assets incl bioMerieux: 0.78170104
Philips: 1.55959253
Stellantis: 0.36766401
Tag Holding: 0.02045516
The Economist Group: 0.09545741

market_or_private_revaluations_oku

61.40537263

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

2.09856263

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

61.34788082

estimated_FVTOCI_mark_through_OCI_oku

0.05749181

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

1.13160658

cash_operating_expenses_oku

0.45635804

sbc_expensed_in_parent_ifrs_profit_oku

0.36508643

noncash_equity_compensation_reserve_credit_oku

0.36508643

cash_income_tax_oku

0.06445394

interest_paid_oku

0.95838357

debt_new_borrowings_oku

0.99931554

debt_repaid_oku

0.99931554

gross_debt_end_oku

35.52

other_liabilities_oku

0.68

cash_end_oku

34.85138422

parent_profit_after_sbc_oku

67.36373405

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

760.11519304

book_equity_rollforward_oku

内容を開く

begin_equity: 694.87596253
net_profit_after_sbc: 67.36373405
sbc_equity_reserve: 0.36508643
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.29793817
cash_buybacks: -1.24914362
expected_equity: 760.11519303
difference_oku: 1.0E-8
estimated_FVTOCI_other_comprehensive_income: 0.05749181

profit_before_income_tax_oku

67.42818799

total_Other_Comprehensive_Income_proxy_oku

0.05749181

capital

内容を開く

ordinary_issued: 192923318
ordinary_treasury: 4550056
ordinary_outstanding: 188373262
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 185890873.04781
old_holder_remaining_fraction: 0.986821967588
issuer_shares_repurchased: 1016597
treasury_shares_cancelled: 1016597
sbc_treasury_delivered_shares: 249828
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 1.23431936
old_cohort_dividend_oku: 1.28253484
issuer_cash_dividends_oku: 1.29793817
issuer_buybacks_oku: 1.24914362

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.51685421
cohort_share_of_year_end_nav_oku: 750.09837038
remaining_share_equivalence_factor: 0.986821967588

actions

内容を開く

日付: 2035-10-15
event: New asset deployment
cost_oku: 2.09856263
asset_adding_oku: 2.09856263

内容を開く

日付: 2035-11-01
event: matched debt refinancing
new_debt_cash_oku: 0.99931554
principal_repaid_oku: 0.99931554
net_cash_change_oku: 0
holdco_debt_change_oku: 0

内容を開く

日付: 2035-07-02
event: holder dividend
company_cash_oku: 1.29793817
old_holder_cash_oku: 1.28253484

内容を開く

日付: 2035-09-14
event: pro rata share repurchase
company_cash_oku: 1.24914362
old_holder_cash_oku: 1.23431936
shares_purchased: 1016597

内容を開く

日付: 2035-12-31
event: share-based award delivered
treasury_decrease: 249828
ordinary_outstanding_increase: 249828

内容を開く

日付: 2035-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1016597
old_holder_cash_oku: 0

状態

projection_all_rows_despite_2026_06_30_last_IFRS_report

IFRS_investment_entity_profit_loss_bridge

内容を開く

model_status: forecast_ifrs_style_line_items_not_published_IFRS_results
scope: Exor consolidated investment entity; controlled investees FVTPL, NOT underlying investees revenue
期間開始（翌日から）: 2034-12-31
期間末: 2035-12-31
期間日数: 365
sales_revenue_oku: 未確認
営業利益（億）: 未確認
sales_operating_profit_support: not_reported_as_standard_IFRS_lines_in_Exor_income_statement
dividend_income_oku: 6.72852863
change_in_fair_value_of_investment_activities_FVTPL_oku: 61.34788082
general_and_administrative_expenses_including_SBC_oku: -0.82144447
ga_cash_component_oku: -0.45635804
ga_SBC_non_cash_component_oku: -0.36508643
other_income_expenses_net_oku: 0
financial_income_oku: 1.13160658
financial_expenses_oku: -0.95838357
profit_before_taxes_oku: 67.42818799
income_taxes_oku: -0.06445394
profit_after_taxes_oku: 67.36373405
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: 0.05749181
pre_tax_sum_difference_oku: 0
net_sum_difference_oku: 0
company_book_equity_change_from_profit_plus_OCI_plus_SBC_credit_reconciled: はい
FVTPL_FVTOCI_proxy_assumption: 2.32/21.31 share of 2026-06-30 broad Other GAV bucket allocated to FVTOCI mark changes; not a verified security level mapping
alternative_investment_activity_income_oku: 68.07640945
alternative_pre_financing_result_oku: 67.25496498
alternative_accounting_data_are_not_IFRS_sales_or_IFRS_EBIT: はい
do_not_readd_SBC_to_pre_tax_profit: はい
portfolio_realized_sale_proceeds_not_added_to_investment_income_without_gain: はい

内容を開く

period

内容を開く

start_exclusive: 2035-12-31
end_inclusive: 2036-11-06
actual_days: 311
year_fraction_ACT_36525: 0.851471594798
kind: terminal_stub

opening

内容を開く

portfolio_assets_oku

761.46380881

現金（億）

34.85138422

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

760.11519304

株数

内容を開く

ordinary_issued: 192923318
ordinary_treasury: 4550056
ordinary_outstanding: 188373262
old_holder_remaining_shares: 185890873.04781
old_holder_equivalence_factor: 0.986821967588
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 108.68515942
Christian Louboutin: 10.69061583
Clarivate: 2.22449684
Ferrari: 343.62980332
Institut Merieux: 13.69175523
Juventus: 8.75582585
Lingotto LP interests: 81.00621322
New diversified investment 2027: 9.19466787
New diversified investment 2028: 8.4019394
New diversified investment 2029: 7.63759865
New diversified investment 2030: 6.96181281
New diversified investment 2031: 3.29042595
New diversified investment 2032: 3.00673823
New diversified investment 2033: 2.73320941
New diversified investment 2034: 2.49137107
New diversified investment 2035: 2.27093093
New diversified investment 2036: 1.78809035
Other assets incl bioMerieux: 26.19296196
Philips: 99.64160681
Stellantis: 44.05257265
Tag Holding: 4.6294353
The Economist Group: 6.3331816
Via Transportation: 23.13234342

fair_value_investments_end_oku

820.44275612

company_investment_cash_dividends_oku

5.94743322

dividend_by_investee_oku

内容を開く

CNH: 0.34190936
Christian Louboutin: 0.05698489
Ferrari: 2.28518855
Institut Merieux: 0.10718783
Lingotto LP interests: 0.68436202
Other assets incl bioMerieux: 0.6760429
Philips: 1.36872404
Stellantis: 0.32580068
Tag Holding: 0.01786464
The Economist Group: 0.08336831

market_or_private_revaluations_oku

57.19085696

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

1.78809035

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

57.14088057

estimated_FVTOCI_mark_through_OCI_oku

0.04997639

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.99649578

cash_operating_expenses_oku

0.40050732

sbc_expensed_in_parent_ifrs_profit_oku

0.32040585

noncash_equity_compensation_reserve_credit_oku

0.32040585

cash_income_tax_oku

0.05726826

interest_paid_oku

0.81659532

debt_new_borrowings_oku

0.85147159

debt_repaid_oku

0.85147159

gross_debt_end_oku

35.52

other_liabilities_oku

0.68

cash_end_oku

36.32025207

parent_profit_after_sbc_oku

62.49003282

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

820.56300819

book_equity_rollforward_oku

内容を開く

begin_equity: 760.11519304
net_profit_after_sbc: 62.49003282
sbc_equity_reserve: 0.32040585
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.34826144
cash_buybacks: -1.06433847
expected_equity: 820.56300819
difference_oku: 0
estimated_FVTOCI_other_comprehensive_income: 0.04997639

profit_before_income_tax_oku

62.54730108

total_Other_Comprehensive_Income_proxy_oku

0.04997639

capital

内容を開く

ordinary_issued: 192923318
ordinary_treasury: 5366994
ordinary_outstanding: 187556324
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 185084700.68325
old_holder_remaining_fraction: 0.986821967588
issuer_shares_repurchased: 816938
treasury_shares_cancelled: 0
sbc_treasury_delivered_shares: 0
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 1.05031258
old_cohort_dividend_oku: 1.33049401
issuer_cash_dividends_oku: 1.34826144
issuer_buybacks_oku: 1.06433847

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.38080659
cohort_share_of_year_end_nav_oku: 809.74960227
remaining_share_equivalence_factor: 0.986821967588

actions

内容を開く

日付: 2036-10-01
event: New asset deployment
cost_oku: 1.78809035
asset_adding_oku: 1.78809035

内容を開く

日付: 2036-10-01
event: matched debt refinancing
new_debt_cash_oku: 0.85147159
principal_repaid_oku: 0.85147159
net_cash_change_oku: 0
holdco_debt_change_oku: 0

内容を開く

日付: 2036-06-30
event: holder dividend
company_cash_oku: 1.34826144
old_holder_cash_oku: 1.33049401

内容を開く

日付: 2036-09-15
event: pro rata share repurchase
company_cash_oku: 1.06433847
old_holder_cash_oku: 1.05031258
shares_purchased: 816938

状態

projection_all_rows_despite_2026_06_30_last_IFRS_report

IFRS_investment_entity_profit_loss_bridge

内容を開く

model_status: forecast_ifrs_style_line_items_not_published_IFRS_results
scope: Exor consolidated investment entity; controlled investees FVTPL, NOT underlying investees revenue
期間開始（翌日から）: 2035-12-31
期間末: 2036-11-06
期間日数: 311
sales_revenue_oku: 未確認
営業利益（億）: 未確認
sales_operating_profit_support: not_reported_as_standard_IFRS_lines_in_Exor_income_statement
dividend_income_oku: 5.94743322
change_in_fair_value_of_investment_activities_FVTPL_oku: 57.14088057
general_and_administrative_expenses_including_SBC_oku: -0.72091317
ga_cash_component_oku: -0.40050732
ga_SBC_non_cash_component_oku: -0.32040585
other_income_expenses_net_oku: 0
financial_income_oku: 0.99649578
financial_expenses_oku: -0.81659532
profit_before_taxes_oku: 62.54730108
income_taxes_oku: -0.05726826
profit_after_taxes_oku: 62.49003282
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: 0.04997639
pre_tax_sum_difference_oku: 0
net_sum_difference_oku: 0
company_book_equity_change_from_profit_plus_OCI_plus_SBC_credit_reconciled: はい
FVTPL_FVTOCI_proxy_assumption: 2.32/21.31 share of 2026-06-30 broad Other GAV bucket allocated to FVTOCI mark changes; not a verified security level mapping
alternative_investment_activity_income_oku: 63.08831379
alternative_pre_financing_result_oku: 62.36740062
alternative_accounting_data_are_not_IFRS_sales_or_IFRS_EBIT: はい
do_not_readd_SBC_to_pre_tax_profit: はい
portfolio_realized_sale_proceeds_not_added_to_investment_income_without_gain: はい

terminal

内容を開く

日付

2036-11-06

day_count

3653

year_ACT_36525

10.001368925394

investee_fundamental

内容を開く

Ferrari

内容を開く

2036_book_mark_oku: 343.62980332
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 151.42316037
2037_net_owner_FCFE_oku: 7.87400434
cost_of_equity: 0.088
perpetual_growth: 0.036
base_2027_fcfe_oku: 2.9
annual_owner_fcfe_growth: 0.10276
book_to_intrinsic_difference_oku: -192.20664295

Philips

内容を開く

2036_book_mark_oku: 99.64160681
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 67.75287819
2037_net_owner_FCFE_oku: 4.20067845
cost_of_equity: 0.091
perpetual_growth: 0.029
base_2027_fcfe_oku: 1.75
annual_owner_fcfe_growth: 0.0898
book_to_intrinsic_difference_oku: -31.88872862

CNH

内容を開く

2036_book_mark_oku: 108.68515942
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 44.54817524
2037_net_owner_FCFE_oku: 3.20746862
cost_of_equity: 0.101
perpetual_growth: 0.029
base_2027_fcfe_oku: 1.05
annual_owner_fcfe_growth: 0.1168
book_to_intrinsic_difference_oku: -64.13698418

Stellantis

内容を開く

2036_book_mark_oku: 44.05257265
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 41.93682363
2037_net_owner_FCFE_oku: 3.43881954
cost_of_equity: 0.111
perpetual_growth: 0.029
base_2027_fcfe_oku: 1.3
annual_owner_fcfe_growth: 0.1006
book_to_intrinsic_difference_oku: -2.11574902

Juventus

内容を開く

2036_book_mark_oku: 8.75582585
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 4.42379859
2037_net_owner_FCFE_oku: 0.45122746
cost_of_equity: 0.121
perpetual_growth: 0.019
base_2027_fcfe_oku: 0.22
annual_owner_fcfe_growth: 0.0736
book_to_intrinsic_difference_oku: -4.33202726

Via Transportation

内容を開く

2036_book_mark_oku: 23.13234342
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 5.05590059
2037_net_owner_FCFE_oku: 0.43986335
cost_of_equity: 0.121
perpetual_growth: 0.034
base_2027_fcfe_oku: 0.09
annual_owner_fcfe_growth: 0.1708
book_to_intrinsic_difference_oku: -18.07644283

Clarivate

内容を開く

2036_book_mark_oku: 2.22449684
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 2.23728783
2037_net_owner_FCFE_oku: 0.2393898
cost_of_equity: 0.126
perpetual_growth: 0.019
base_2027_fcfe_oku: 0.15
annual_owner_fcfe_growth: 0.0466
book_to_intrinsic_difference_oku: 0.01279099

Institut Merieux

内容を開く

2036_book_mark_oku: 13.69175523
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 13.74126068
2037_net_owner_FCFE_oku: 0.96188825
cost_of_equity: 0.101
perpetual_growth: 0.031
base_2027_fcfe_oku: 0.42
annual_owner_fcfe_growth: 0.0844
book_to_intrinsic_difference_oku: 0.04950545

Christian Louboutin

内容を開く

2036_book_mark_oku: 10.69061583
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 8.06589071
2037_net_owner_FCFE_oku: 0.66140304
cost_of_equity: 0.111
perpetual_growth: 0.029
base_2027_fcfe_oku: 0.31
annual_owner_fcfe_growth: 0.07684
book_to_intrinsic_difference_oku: -2.62472512

The Economist Group

内容を開く

2036_book_mark_oku: 6.3331816
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 7.7445296
2037_net_owner_FCFE_oku: 0.54211707
cost_of_equity: 0.096
perpetual_growth: 0.026
base_2027_fcfe_oku: 0.29
annual_owner_fcfe_growth: 0.0628
book_to_intrinsic_difference_oku: 1.411348

Tag Holding

内容を開く

2036_book_mark_oku: 4.6294353
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 3.78871061
2037_net_owner_FCFE_oku: 0.31067427
cost_of_equity: 0.111
perpetual_growth: 0.029
base_2027_fcfe_oku: 0.15
annual_owner_fcfe_growth: 0.0736
book_to_intrinsic_difference_oku: -0.84072469

Lingotto LP interests

内容を開く

2036_book_mark_oku: 81.00621322
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 83.51458873
2037_net_owner_FCFE_oku: 5.1779045
cost_of_equity: 0.091
perpetual_growth: 0.029
base_2027_fcfe_oku: 2.5
annual_owner_fcfe_growth: 0.0736
book_to_intrinsic_difference_oku: 2.50837551

Other assets incl bioMerieux

内容を開く

2036_book_mark_oku: 26.19296196
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 28.6711266
2037_net_owner_FCFE_oku: 2.12166337
cost_of_equity: 0.096
perpetual_growth: 0.022
base_2027_fcfe_oku: 1.26
annual_owner_fcfe_growth: 0.052
book_to_intrinsic_difference_oku: 2.47816464

New diversified investment 2027

内容を開く

2036_book_mark_oku: 9.19466787
valuation_method: 2037 owner FCF based on invested capital and net reinvestment, no duplicated original cost
new_investment_date_assumed: 2027-10-15
new_investment_cost_oku: 4.04722793
2037_net_owner_FCFE_oku: 0.49821887
cost_of_equity: 0.11
perpetual_growth: 0.022
value_oku: 5.66157811
book_to_intrinsic_difference_oku: -3.53308977

New diversified investment 2028

内容を開く

2036_book_mark_oku: 8.4019394
valuation_method: 2037 owner FCF based on invested capital and net reinvestment, no duplicated original cost
new_investment_date_assumed: 2028-10-13
new_investment_cost_oku: 4.05831622
2037_net_owner_FCFE_oku: 0.47942963
cost_of_equity: 0.11
perpetual_growth: 0.022
value_oku: 5.44806396
book_to_intrinsic_difference_oku: -2.95387544

New diversified investment 2029

内容を開く

2036_book_mark_oku: 7.63759865
valuation_method: 2037 owner FCF based on invested capital and net reinvestment, no duplicated original cost
new_investment_date_assumed: 2029-10-15
new_investment_cost_oku: 4.04722793
2037_net_owner_FCFE_oku: 0.45888302
cost_of_equity: 0.11
perpetual_growth: 0.022
value_oku: 5.21457975
book_to_intrinsic_difference_oku: -2.4230189

New diversified investment 2030

内容を開く

2036_book_mark_oku: 6.96181281
valuation_method: 2037 owner FCF based on invested capital and net reinvestment, no duplicated original cost
new_investment_date_assumed: 2030-10-15
new_investment_cost_oku: 4.04722793
2037_net_owner_FCFE_oku: 0.44042029
cost_of_equity: 0.11
perpetual_growth: 0.022
value_oku: 5.00477607
book_to_intrinsic_difference_oku: -1.95703674

New diversified investment 2031

内容を開く

2036_book_mark_oku: 3.29042595
valuation_method: 2037 owner FCF based on invested capital and net reinvestment, no duplicated original cost
new_investment_date_assumed: 2031-10-15
new_investment_cost_oku: 2.09856263
2037_net_owner_FCFE_oku: 0.21917799
cost_of_equity: 0.11
perpetual_growth: 0.022
value_oku: 2.49065892
book_to_intrinsic_difference_oku: -0.79976703

New diversified investment 2032

内容を開く

2036_book_mark_oku: 3.00673823
valuation_method: 2037 owner FCF based on invested capital and net reinvestment, no duplicated original cost
new_investment_date_assumed: 2032-10-15
new_investment_cost_oku: 2.10431211
2037_net_owner_FCFE_oku: 0.21091216
cost_of_equity: 0.11
perpetual_growth: 0.022
value_oku: 2.39672912
book_to_intrinsic_difference_oku: -0.61000911

New diversified investment 2033

内容を開く

2036_book_mark_oku: 2.73320941
valuation_method: 2037 owner FCF based on invested capital and net reinvestment, no duplicated original cost
new_investment_date_assumed: 2033-10-14
new_investment_cost_oku: 2.09856263
2037_net_owner_FCFE_oku: 0.20187323
cost_of_equity: 0.11
perpetual_growth: 0.022
value_oku: 2.29401403
book_to_intrinsic_difference_oku: -0.43919539

New diversified investment 2034

内容を開く

2036_book_mark_oku: 2.49137107
valuation_method: 2037 owner FCF based on invested capital and net reinvestment, no duplicated original cost
new_investment_date_assumed: 2034-10-13
new_investment_cost_oku: 2.09856263
2037_net_owner_FCFE_oku: 0.19375106
cost_of_equity: 0.11
perpetual_growth: 0.022
value_oku: 2.20171655
book_to_intrinsic_difference_oku: -0.28965452

New diversified investment 2035

内容を開く

2036_book_mark_oku: 2.27093093
valuation_method: 2037 owner FCF based on invested capital and net reinvestment, no duplicated original cost
new_investment_date_assumed: 2035-10-15
new_investment_cost_oku: 2.09856263
2037_net_owner_FCFE_oku: 0.18595567
cost_of_equity: 0.11
perpetual_growth: 0.022
value_oku: 2.11313256
book_to_intrinsic_difference_oku: -0.15779837

New diversified investment 2036

内容を開く

2036_book_mark_oku: 1.78809035
valuation_method: 2037 owner FCF based on invested capital and net reinvestment, no duplicated original cost
new_investment_date_assumed: 2036-10-15
new_investment_cost_oku: 1.78809035
2037_net_owner_FCFE_oku: 0.15205245
cost_of_equity: 0.11
perpetual_growth: 0.022
value_oku: 1.72786872
book_to_intrinsic_difference_oku: -0.06022163

holdco_fundamental_bridge_oku

内容を開く

investee_fundamental_value: 497.45724916
cash: 36.32025207
gross_holdco_debt: -35.52
other_liabilities: -0.68
overhead_cash_cost_perpetuity_reserve: -7.12473316
sbc_market_price_share_neutralization_cash_perpetuity_reserve: -9.63237015
2037_cash_opex_oku: 0.48448185
2037_equivalent_awards_per_year: 250000
2037_share_neutralization_assumed_intrinsic_market_price_eur: 262.00046802
SBC_neutralization_equity_feedback_coefficient: 0.02003319782
2037_award_share_neutralization_cost_oku: 0.65500117
sustainable_holdco_cost_of_equity: 0.09
sustainable_growth: 0.022
whole_company_net_equity_value_oku: 480.82039792
old_holder_equivalence_factor: 0.986821967588
old_holder_remaining_equity_value_oku: 474.48413113
2036_11_06_intrinsic_equity_price_per_outstanding_eur: 256.36053622
2037_company_cash_share_buyback_oku: 0.65500117
2037_old_cohort_pro_rata_tender_cash_oku: 0.64636954
2037_old_cohort_stock_remaining_after_tender_share_equivalents: 184837995.19136
2037_old_cohort_stock_value_after_anniversary_oku: 484.27641248
2037_award_shares_against_market_buyback: 250000
2037_headline_PnL_SBC_expense_versus_capital_credit: 2037 IFRS annual SBC accrual is unverified and noncash; if equity settled, P&L SBC expense and equity capital credit cancel in book NAV. Market repurchase uses cash and compensates selling shareholders; employee delivery transfers ownership; neither is a new old-holder cash outflow.
2037_cashflow_cutoff_status: post_2036-11-06; demonstration excluded from 10y timed_cashflows
2037_market_price_first_event_grown_one_year_before_buyback: はい
whole_company_pre_future_SBC_value_oku: 490.45276807
valuation_formula: V0 = A0 / (1+(awards/outstanding)*(1+terminal_growth)/(cost_of_equity-terminal_growth)); first 2037 cash buyback = awards * (V0/outstanding)*(1+terminal_growth); present value = B1/(k-g).

book_nav_2036_11_06_oku

820.56300819

book_NAV_not_identical_to_fundamental_equity_market_value

はい

remaining_issued_shares

192923318

remaining_treasury_shares

5366994

remaining_outstanding_shares

187556324

old_holder_remaining_shares_equivalent

185084700.68325

old_holder_fraction

0.986821967588

post_2036_11_06_stock_neutralization_holder_cohort_audit

内容を開く

状態

hypothetical_terminal_economic_reconciliation_NOT_company_guidance

settlement_date_policy

2037-11-06 and next model anniversaries strictly for mathematical audit; award vesting dates in 2036-12/2037-12 are not confirmed. Real execution timing must be rechecked.

first_event_after_horizon_date

2037-11-06

note_first_dec_2036_RSU_or_awards

A possible 2036-12-31 vesting is outside the 10-year cutoff. Calendar and amount not identifiable by cutoff; normalized tail assumes one yearly q-share compensation from 2037 onwards, with no second 2036 partial-year charge.

original_2036_total_company_book_NAV_oku

820.56300819

oldcohort_fraction_at_terminal

0.986821967588

2036_11_06_intrinsic_oldcohort_value_oku

474.48413113

post_2036_future_employee_shares_per_year

250000

share_count_neutralization

market buyback q ordinary shares, old cohort tenders proportionally; q treasury shares delivered free to employees, N unchanged; H falls by tendered shares

explicit_2037_to_2046_anniversary_events

内容を開く

year_from_terminal: 1
assumed_settlement_date: 2037-11-06
date_type: anniversary_hypothetical_not_issuer_ex_date_or_buyback_execution_date
future_company_cash_distribution_before_employee_comp_oku: 33.35078823
company_distribution_to_shareholders_owner_equivalent_oku: 32.69578706
company_share_neutralization_buyback_oku: 0.65500117
company_shares_repurchased: 250000
employee_treasury_shares_delivered: 250000
end_company_shares_outstanding: 187556324
buyback_execution_intrinsic_share_price_eur: 262.00046802
old_holder_shares_before: 185084700.68325
old_holder_shares_pro_rata_tendered: 246705.491897
old_holder_tender_cash_received_oku: 0.64636954
old_holder_owner_equivalent_dividend_oku: 32.26492092
old_holder_shares_remaining_after_delivery: 184837995.19136
old_holder_fraction_after_delivery: 0.985506600094
old_holder_equity_value_at_start_of_year_oku: 474.48413113
old_holder_equity_remaining_after_delivery_oku: 484.27641248
year_end_holder_cash_plus_stock_oku: 517.18770294
required_return_on_old_holder_starting_value_oku: 517.18770294
cash_stock_return_check_difference_oku: -0
cashflow_in_strict_10y_timed_cashflows: いいえ
cash_distribution_is_theoretical_lookthrough_FCFE_not_declared_corporate_dividend: はい
SBC_book_expense_is_non_cash_not_added_to_tail_cashflow: はい

内容を開く

year_from_terminal: 2
assumed_settlement_date: 2038-11-06
date_type: anniversary_hypothetical_not_issuer_ex_date_or_buyback_execution_date
future_company_cash_distribution_before_employee_comp_oku: 34.08450557
company_distribution_to_shareholders_owner_equivalent_oku: 33.41509437
company_share_neutralization_buyback_oku: 0.6694112
company_shares_repurchased: 250000
employee_treasury_shares_delivered: 250000
end_company_shares_outstanding: 187556324
buyback_execution_intrinsic_share_price_eur: 267.76447831
old_holder_shares_before: 184837995.19136
old_holder_shares_pro_rata_tendered: 246376.650023
old_holder_tender_cash_received_oku: 0.65970915
old_holder_owner_equivalent_dividend_oku: 32.93079605
old_holder_shares_remaining_after_delivery: 184591618.54133
old_holder_fraction_after_delivery: 0.984192985897
old_holder_equity_value_at_start_of_year_oku: 484.27641248
old_holder_equity_remaining_after_delivery_oku: 494.2707844
year_end_holder_cash_plus_stock_oku: 527.8612896
required_return_on_old_holder_starting_value_oku: 527.8612896
cash_stock_return_check_difference_oku: -0
cashflow_in_strict_10y_timed_cashflows: いいえ
cash_distribution_is_theoretical_lookthrough_FCFE_not_declared_corporate_dividend: はい
SBC_book_expense_is_non_cash_not_added_to_tail_cashflow: はい

内容を開く

year_from_terminal: 3
assumed_settlement_date: 2039-11-06
date_type: anniversary_hypothetical_not_issuer_ex_date_or_buyback_execution_date
future_company_cash_distribution_before_employee_comp_oku: 34.83436469
company_distribution_to_shareholders_owner_equivalent_oku: 34.15022645
company_share_neutralization_buyback_oku: 0.68413824
company_shares_repurchased: 250000
employee_treasury_shares_delivered: 250000
end_company_shares_outstanding: 187556324
buyback_execution_intrinsic_share_price_eur: 273.65529684
old_holder_shares_before: 184591618.54133
old_holder_shares_pro_rata_tendered: 246048.246474
old_holder_tender_cash_received_oku: 0.67332406
old_holder_owner_equivalent_dividend_oku: 33.61041334
old_holder_shares_remaining_after_delivery: 184345570.29486
old_holder_fraction_after_delivery: 0.982881122659
old_holder_equity_value_at_start_of_year_oku: 494.2707844
old_holder_equity_remaining_after_delivery_oku: 504.4714176
year_end_holder_cash_plus_stock_oku: 538.75515499
required_return_on_old_holder_starting_value_oku: 538.75515499
cash_stock_return_check_difference_oku: 0
cashflow_in_strict_10y_timed_cashflows: いいえ
cash_distribution_is_theoretical_lookthrough_FCFE_not_declared_corporate_dividend: はい
SBC_book_expense_is_non_cash_not_added_to_tail_cashflow: はい

内容を開く

year_from_terminal: 4
assumed_settlement_date: 2040-11-06
date_type: anniversary_hypothetical_not_issuer_ex_date_or_buyback_execution_date
future_company_cash_distribution_before_employee_comp_oku: 35.60072072
company_distribution_to_shareholders_owner_equivalent_oku: 34.90153143
company_share_neutralization_buyback_oku: 0.69918928
company_shares_repurchased: 250000
employee_treasury_shares_delivered: 250000
end_company_shares_outstanding: 187556324
buyback_execution_intrinsic_share_price_eur: 279.67571337
old_holder_shares_before: 184345570.29486
old_holder_shares_pro_rata_tendered: 245720.280665
old_holder_tender_cash_received_oku: 0.68721995
old_holder_owner_equivalent_dividend_oku: 34.3040564
old_holder_shares_remaining_after_delivery: 184099850.0142
old_holder_fraction_after_delivery: 0.981571008047
old_holder_equity_value_at_start_of_year_oku: 504.4714176
old_holder_equity_remaining_after_delivery_oku: 514.88256884
year_end_holder_cash_plus_stock_oku: 549.87384518
required_return_on_old_holder_starting_value_oku: 549.87384518
cash_stock_return_check_difference_oku: 0
cashflow_in_strict_10y_timed_cashflows: いいえ
cash_distribution_is_theoretical_lookthrough_FCFE_not_declared_corporate_dividend: はい
SBC_book_expense_is_non_cash_not_added_to_tail_cashflow: はい

内容を開く

year_from_terminal: 5
assumed_settlement_date: 2041-11-06
date_type: anniversary_hypothetical_not_issuer_ex_date_or_buyback_execution_date
future_company_cash_distribution_before_employee_comp_oku: 36.38393657
company_distribution_to_shareholders_owner_equivalent_oku: 35.66936512
company_share_neutralization_buyback_oku: 0.71457145
company_shares_repurchased: 250000
employee_treasury_shares_delivered: 250000
end_company_shares_outstanding: 187556324
buyback_execution_intrinsic_share_price_eur: 285.82857906
old_holder_shares_before: 184099850.0142
old_holder_shares_pro_rata_tendered: 245392.752012
old_holder_tender_cash_received_oku: 0.70140262
old_holder_owner_equivalent_dividend_oku: 35.01201468
old_holder_shares_remaining_after_delivery: 183854457.26218
old_holder_fraction_after_delivery: 0.980262639729
old_holder_equity_value_at_start_of_year_oku: 514.88256884
old_holder_equity_remaining_after_delivery_oku: 525.50858273
year_end_holder_cash_plus_stock_oku: 561.22200003
required_return_on_old_holder_starting_value_oku: 561.22200003
cash_stock_return_check_difference_oku: 0
cashflow_in_strict_10y_timed_cashflows: いいえ
cash_distribution_is_theoretical_lookthrough_FCFE_not_declared_corporate_dividend: はい
SBC_book_expense_is_non_cash_not_added_to_tail_cashflow: はい

内容を開く

year_from_terminal: 6
assumed_settlement_date: 2042-11-06
date_type: anniversary_hypothetical_not_issuer_ex_date_or_buyback_execution_date
future_company_cash_distribution_before_employee_comp_oku: 37.18438318
company_distribution_to_shareholders_owner_equivalent_oku: 36.45409116
company_share_neutralization_buyback_oku: 0.73029202
company_shares_repurchased: 250000
employee_treasury_shares_delivered: 250000
end_company_shares_outstanding: 187556324
buyback_execution_intrinsic_share_price_eur: 292.1168078
old_holder_shares_before: 183854457.26218
old_holder_shares_pro_rata_tendered: 245065.659932
old_holder_tender_cash_received_oku: 0.71587798
old_holder_owner_equivalent_dividend_oku: 35.73458363
old_holder_shares_remaining_after_delivery: 183609391.60225
old_holder_fraction_after_delivery: 0.978956015379
old_holder_equity_value_at_start_of_year_oku: 525.50858273
old_holder_equity_remaining_after_delivery_oku: 536.35389357
year_end_holder_cash_plus_stock_oku: 572.80435518
required_return_on_old_holder_starting_value_oku: 572.80435518
cash_stock_return_check_difference_oku: -0
cashflow_in_strict_10y_timed_cashflows: いいえ
cash_distribution_is_theoretical_lookthrough_FCFE_not_declared_corporate_dividend: はい
SBC_book_expense_is_non_cash_not_added_to_tail_cashflow: はい

内容を開く

year_from_terminal: 7
assumed_settlement_date: 2043-11-06
date_type: anniversary_hypothetical_not_issuer_ex_date_or_buyback_execution_date
future_company_cash_distribution_before_employee_comp_oku: 38.00243961
company_distribution_to_shareholders_owner_equivalent_oku: 37.25608116
company_share_neutralization_buyback_oku: 0.74635844
company_shares_repurchased: 250000
employee_treasury_shares_delivered: 250000
end_company_shares_outstanding: 187556324
buyback_execution_intrinsic_share_price_eur: 298.54337757
old_holder_shares_before: 183609391.60225
old_holder_shares_pro_rata_tendered: 244739.003845
old_holder_tender_cash_received_oku: 0.73065209
old_holder_owner_equivalent_dividend_oku: 36.47206476
old_holder_shares_remaining_after_delivery: 183364652.59841
old_holder_fraction_after_delivery: 0.977651132672
old_holder_equity_value_at_start_of_year_oku: 536.35389357
old_holder_equity_remaining_after_delivery_oku: 547.42302714
year_end_holder_cash_plus_stock_oku: 584.62574399
required_return_on_old_holder_starting_value_oku: 584.62574399
cash_stock_return_check_difference_oku: 0
cashflow_in_strict_10y_timed_cashflows: いいえ
cash_distribution_is_theoretical_lookthrough_FCFE_not_declared_corporate_dividend: はい
SBC_book_expense_is_non_cash_not_added_to_tail_cashflow: はい

内容を開く

year_from_terminal: 8
assumed_settlement_date: 2044-11-06
date_type: anniversary_hypothetical_not_issuer_ex_date_or_buyback_execution_date
future_company_cash_distribution_before_employee_comp_oku: 38.83849328
company_distribution_to_shareholders_owner_equivalent_oku: 38.07571495
company_share_neutralization_buyback_oku: 0.76277833
company_shares_repurchased: 250000
employee_treasury_shares_delivered: 250000
end_company_shares_outstanding: 187556324
buyback_execution_intrinsic_share_price_eur: 305.11133188
old_holder_shares_before: 183364652.59841
old_holder_shares_pro_rata_tendered: 244412.783168
old_holder_tender_cash_received_oku: 0.7457311
old_holder_owner_equivalent_dividend_oku: 37.22476585
old_holder_shares_remaining_after_delivery: 183120239.81524
old_holder_fraction_after_delivery: 0.976347989286
old_holder_equity_value_at_start_of_year_oku: 547.42302714
old_holder_equity_remaining_after_delivery_oku: 558.72060264
year_end_holder_cash_plus_stock_oku: 596.69109958
required_return_on_old_holder_starting_value_oku: 596.69109958
cash_stock_return_check_difference_oku: 0
cashflow_in_strict_10y_timed_cashflows: いいえ
cash_distribution_is_theoretical_lookthrough_FCFE_not_declared_corporate_dividend: はい
SBC_book_expense_is_non_cash_not_added_to_tail_cashflow: はい

内容を開く

year_from_terminal: 9
assumed_settlement_date: 2045-11-06
date_type: anniversary_hypothetical_not_issuer_ex_date_or_buyback_execution_date
future_company_cash_distribution_before_employee_comp_oku: 39.69294013
company_distribution_to_shareholders_owner_equivalent_oku: 38.91338068
company_share_neutralization_buyback_oku: 0.77955945
company_shares_repurchased: 250000
employee_treasury_shares_delivered: 250000
end_company_shares_outstanding: 187556324
buyback_execution_intrinsic_share_price_eur: 311.82378118
old_holder_shares_before: 183120239.81524
old_holder_shares_pro_rata_tendered: 244086.997321
old_holder_tender_cash_received_oku: 0.7611213
old_holder_owner_equivalent_dividend_oku: 37.99300098
old_holder_shares_remaining_after_delivery: 182876152.81792
old_holder_fraction_after_delivery: 0.975046582902
old_holder_equity_value_at_start_of_year_oku: 558.72060264
old_holder_equity_remaining_after_delivery_oku: 570.25133459
year_end_holder_cash_plus_stock_oku: 609.00545688
required_return_on_old_holder_starting_value_oku: 609.00545688
cash_stock_return_check_difference_oku: 0
cashflow_in_strict_10y_timed_cashflows: いいえ
cash_distribution_is_theoretical_lookthrough_FCFE_not_declared_corporate_dividend: はい
SBC_book_expense_is_non_cash_not_added_to_tail_cashflow: はい

内容を開く

year_from_terminal: 10
assumed_settlement_date: 2046-11-06
date_type: anniversary_hypothetical_not_issuer_ex_date_or_buyback_execution_date
future_company_cash_distribution_before_employee_comp_oku: 40.56618481
company_distribution_to_shareholders_owner_equivalent_oku: 39.76947505
company_share_neutralization_buyback_oku: 0.79670976
company_shares_repurchased: 250000
employee_treasury_shares_delivered: 250000
end_company_shares_outstanding: 187556324
buyback_execution_intrinsic_share_price_eur: 318.68390437
old_holder_shares_before: 182876152.81792
old_holder_shares_pro_rata_tendered: 243761.645726
old_holder_tender_cash_received_oku: 0.77682913
old_holder_owner_equivalent_dividend_oku: 38.77709075
old_holder_shares_remaining_after_delivery: 182632391.17219
old_holder_fraction_after_delivery: 0.973746911206
old_holder_equity_value_at_start_of_year_oku: 570.25133459
old_holder_equity_remaining_after_delivery_oku: 582.02003482
year_end_holder_cash_plus_stock_oku: 621.57395471
required_return_on_old_holder_starting_value_oku: 621.57395471
cash_stock_return_check_difference_oku: 0
cashflow_in_strict_10y_timed_cashflows: いいえ
cash_distribution_is_theoretical_lookthrough_FCFE_not_declared_corporate_dividend: はい
SBC_book_expense_is_non_cash_not_added_to_tail_cashflow: はい

ten_year_tail_PV_holder_cash_oku

228.63257859

ten_year_tail_PV_holder_residual_stock_oku

245.85155254

ten_year_tail_PV_total_oku

474.48413113

infinite_tail_PV_analytic_oku

474.48413113

cohort_valuation_identity_difference_oku

-0

finite_10year_plus_remaining_cohort_identity_difference_oku

-0

derived_equivalent_cash_distribution_not_Exor_actual_ex_dates

はい

convention

Illustrative annual pre-bonus owner FCFE = (k-g)*A_{t-1}; Exor ordinary cash owner-equivalent = (k-g)*E_{t-1}, share replacement buyback B_t=(q/N)*E_t. This economic cash equivalent need not equal Exor actual ordinary dividend; eventual monetizations are needed to distribute all underlying FCFE.

SBC_double_count_rule

2026-2036 IFRS SBC expense and equity credit already present in reported/forecast book equity; no second charge against 2036 balance or terminal portfolio stakes. Post-cutoff reserve alone covers future q-share compensation; buyback cash received in 2037+ is inside the tail identity and is NOT appended to 10y payout or to 2036 residual value.

economic_payout_identity

h_(t-1)*(D_t+B_t)+h_t*E_t=(1+k)*h_(t-1)*E_(t-1); h_t=h_(t-1)*(1-q/N), E_t=E_(t-1)*(1+g), B_t=(q/N)*E_t, D_t=(k-g)*E_(t-1).

discount_identity

sum_{t=1}^infinity old_holder_cash_t/(1+k)^t = h0*E0, assuming q/N and g stay fixed and k>g.

not_additional_timed_cashflows

はい

キャッシュフローの算出方法

timed_holder_cashflows_v1

期間内株主受取

25.94978686

終価

474.48413113

pv_cashflow_oku_at_coc_k

17.35626078

pv_terminal_oku_at_coc_k

191.43729342

pv_oku_at_coc_k

208.79355421

npv_oku_at_coc_k

61.586515

irr

0.136341643073

equity_value_oku_per_start_share_at_coc

104.03719335

all_ledger_reconciliation_passed

はい

売上高

未確認

営業利益

未確認

純利益

62.49003282

equity_oku

820.56300819

期間内の親会社利益合計（億）

499.18413679

multiple

kind

sum_of_parts_dcf

why

各投資先の持続株主CFを評価し持株会社の費用・負債・将来SBC補填を調整。

detail

内容を開く

investee_fundamental_value: 497.45724916
cash: 36.32025207
gross_holdco_debt: -35.52
other_liabilities: -0.68
overhead_cash_cost_perpetuity_reserve: -7.12473316
sbc_market_price_share_neutralization_cash_perpetuity_reserve: -9.63237015
2037_cash_opex_oku: 0.48448185
2037_equivalent_awards_per_year: 250000
2037_share_neutralization_assumed_intrinsic_market_price_eur: 262.00046802
SBC_neutralization_equity_feedback_coefficient: 0.02003319782
2037_award_share_neutralization_cost_oku: 0.65500117
sustainable_holdco_cost_of_equity: 0.09
sustainable_growth: 0.022
whole_company_net_equity_value_oku: 480.82039792
old_holder_equivalence_factor: 0.986821967588
old_holder_remaining_equity_value_oku: 474.48413113
2036_11_06_intrinsic_equity_price_per_outstanding_eur: 256.36053622
2037_company_cash_share_buyback_oku: 0.65500117
2037_old_cohort_pro_rata_tender_cash_oku: 0.64636954
2037_old_cohort_stock_remaining_after_tender_share_equivalents: 184837995.19136
2037_old_cohort_stock_value_after_anniversary_oku: 484.27641248
2037_award_shares_against_market_buyback: 250000
2037_headline_PnL_SBC_expense_versus_capital_credit: 2037 IFRS annual SBC accrual is unverified and noncash; if equity settled, P&L SBC expense and equity capital credit cancel in book NAV. Market repurchase uses cash and compensates selling shareholders; employee delivery transfers ownership; neither is a new old-holder cash outflow.
2037_cashflow_cutoff_status: post_2036-11-06; demonstration excluded from 10y timed_cashflows
2037_market_price_first_event_grown_one_year_before_buyback: はい
whole_company_pre_future_SBC_value_oku: 490.45276807
valuation_formula: V0 = A0 / (1+(awards/outstanding)*(1+terminal_growth)/(cost_of_equity-terminal_growth)); first 2037 cash buyback = awards * (V0/outstanding)*(1+terminal_growth); present value = B1/(k-g).

中立（確率 40.0%）

growth_shift: 0
growth_scale: 1
r_shift: 0
tg_shift: 0
invest_div_mult: 1
div_growth: 0.027
buyback_after2027: 1
buyback_initial: 3.57
new_invest_annual: 2.5
new_invest_return: 0.075
market_trade_growth: 0.038
cash_interest: 0.025
debt_rate: 0.028
税率: 1.30%
sell_welltec: 2027-03-31
welltec_sale_mult: 1
cash_dvd_base: 0.49
sbc_shares_annual: 275000
sbc_expense_annual: 0.28
equity_issuance_2030_oku: 0
terminal_coc: 0.095
holdco_terminal_g: 0.02

確率の根拠

投資先の成長・持株会社の資金配分・事業リスクについての分析上の確率仮定。

このシナリオの数値・キャッシュフローを開く →

やや弱気（確率 20.0%）

growth_shift: -0.032
growth_scale: 0.88
r_shift: 0.008
tg_shift: -0.006
invest_div_mult: 0.79
div_growth: 0.006
buyback_after2027: 0.5
buyback_initial: 2.1
new_invest_annual: 1.25
new_invest_return: 0.065
market_trade_growth: 0
cash_interest: 0.02
debt_rate: 0.037
税率: 1.70%
sell_welltec: 2028-09-29
welltec_sale_mult: 0.92
cash_dvd_base: 0.39
sbc_shares_annual: 330000
sbc_expense_annual: 0.34
equity_issuance_2030_oku: 3
terminal_coc: 0.106
holdco_terminal_g: 0.016

確率の根拠

投資先の成長・持株会社の資金配分・事業リスクについての分析上の確率仮定。

このシナリオの数値・キャッシュフローを開く →

弱気（確率 8.0%）

growth_shift: -0.09
growth_scale: 0.75
r_shift: 0.02
tg_shift: -0.013
invest_div_mult: 0.49
div_growth: -0.025
buyback_after2027: 0
buyback_initial: 1.07
new_invest_annual: 0.5
new_invest_return: 0.035
market_trade_growth: -0.035
cash_interest: 0.015
debt_rate: 0.046
税率: 2.50%
sell_welltec: 未確認
welltec_sale_mult: 未確認
cash_dvd_base: 0.24
sbc_shares_annual: 400000
sbc_expense_annual: 0.43
equity_issuance_2030_oku: 10
terminal_coc: 0.125
holdco_terminal_g: 0.009

確率の根拠

投資先の成長・持株会社の資金配分・事業リスクについての分析上の確率仮定。

このシナリオの数値・キャッシュフローを開く →

金額の単位

億EUR (EUR 100 million)

分析基準とデータ

価格・単価

73.35

株価基準日

2026-11-06

株数

200691260

株価の出所

https://markets.ft.markitdigital.com/data/equities/tearsheet/historical?s=EXO%3AAEX

株数の出所

https://exor.com/system/files/2026/document-documents/Exor%20Press%20Release%20-%20W45-26%20Buyback.pdf

detail

内容を開く

価格・単価

内容を開く

値: 73.35
currency: EUR
市場: Euronext Amsterdam
日付: 2026-11-06
price_type: closing_price
状態: market_quote_verified_secondary
source_id: quote_exor

株数

内容を開く

issued_ordinary: 207779752
special_voting_shares_no_ordinary_economics: 117997914
treasury_ordinary: 7088492
effective_outstanding: 200691260
weighted_average_2026_1h_thousand: 202403
share_date: 2026-11-02_weekly_update_covers_trades_through_2026-10-30
share_date_status: last_published_proxy_not_exact_2026_11_06
unverified_nov_2_to_nov_6_buybacks: cannot quantify with Nov6 cutoff; not assumed executed from future announcements
shares_method: 207,779,752 - 7,088,492 = 200,691,260; special voting shares excluded

entry_initial_cohort_mcap_oku

147.20703921

reference_ifrs

内容を開く

ifrs_parent_profit: -11.22
nav_parent_equity: 320.09
total_assets_gav: 357.68
sbc_ifrs_expense: 0.14
sbc_equity_reserve_credit: 0.14
reported_note_debt: 35.07
gross_debt: 36.91
holder_shares_jun30: 202735001
出典: exor_h1

parent_NAV_proxy_asof_oku

343.27135658

parent_NAV_proxy_per_outstanding_share_eur

171.04449719

parent_NAV_proxy_method

Mark public investments to Nov6 shares × closing price / ECB FX. Exor June private/other/Lingotto stale proxy. Adjust July divestment, FX payable, buyback, Iveco offer receivable; parent NAV is estimated, not verified Nov6 IFRS.

starting_asset_values_oku

内容を開く

CNH: 37.99092274
Christian Louboutin: 5.5
Clarivate: 1.41038987
Ferrari: 141.1979597
Institut Merieux: 6.8
Iveco settlement receivable: 10.56752352
Juventus: 4.30216888
Lingotto LP interests: 44.49
Other assets incl bioMerieux: 21.31
Philips: 50.81540254
Stellantis: 18.0662857
Tag Holding: 2.4
The Economist Group: 4.06
Via Transportation: 4.77070364
Welltec: 4.73

starting_cash_oku

21.06

starting_iveco_tender_receivable_oku

10.56752352

starting_holdco_notes_oku

35.07

starting_financial_liabilities_oku

0.45

starting_gross_holdco_debt_oku

35.52

starting_other_liabilities_oku

0.68

baseline_rollforward_events

内容を開く

日付: 2026-06-30
item: Published latest IFRS parent NAV
net_asset_value_oku: 320.09
状態: verified
出典: exor_h1

内容を開く

日付: 2026-07-01
item: €139m FX liability settled in cash: no NAV change
delta_cash_oku: -1.39
delta_financial_liability_oku: -1.39
delta_nav_oku: 0
状態: inferred timing from H1 subsequent note; cash and liability both assumed settled

内容を開く

日付: 2026-07
item: Lifenet stake sold: remove H1 €209m investment, receive amount equal carrying value
delta_private_assets_oku: -2.09
delta_cash_oku: 2.09
delta_nav_oku: 0
状態: transaction verified; exact proceeds vs carrying unconfirmed therefore no assumed capital gain
出典: exor_h1_release

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日付: 2026-09-23_to_2026-10-30
item: First €125m buyback + €18m executed second tranche
delta_cash_oku: -1.43
delta_treasury_shares: 2043741
implied_difference_vs_gross_shares_bought: -6375
delta_nav_oku: -1.43
状態: two tranches verified, net treasury move has 6375 other delivery or movements unverified; bridge uses released ending number
出典: buyback

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日付: 2026-10-30_to_2026-11-13
item: Iveco offer EUR14.40 per share; basis assumes receivable, NOT both receivable and cash
delta_iveco_shares: -73385580
delta_tender_receivable_oku: 10.56752352
delta_june_book_iveco_oku: -10.21
delta_valuation_oku: 0.35752352
状態: conditional Exor own acceptance/settlement timing not confirmed; total tender settlement completed initial 2026-10-30 and alternative 2026-11-13
出典: iveco_tender

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日付: 2026-11-06
item: Seven major listed stakes repriced to Nov6 spot; private values, Lingotto and other assets stale June30
delta_listed_mark_oku: 24.25383306
状態: market_quote_from_secondary_and_stock_counts_from_exor; no postcutoff company reporting
出典: exor_h1

known_pre_cutoff_dividend_not_forward_CF

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ex_date: 2026-05-25
payment_date: 2026-05-27
per_share_eur: 0.49
source_id: exor_agm
included_in_forward_timed_cashflows: いいえ

sensitivity_to_june_stale_illiquid_marks

illustrative_other_Lingotto_private_marks_down_15pct_NAV_change_oku: -13.3935
not_an_observed_market_price: はい

market_to_proxy_NAV_discount

0.571164222

fundamental_exit_not_based_on_discount_convergence

はい

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分析に使用した資料

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