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。

このシナリオの数値・キャッシュフローを開く →

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。

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: 73.642684
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: 1.06999948
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.06999948
issuer_shares_purchased: 1452961
old_cohort_shares_tendered_equivalent: 1452961
old_fraction_pre_buyback: 1
execution_price_eur: 73.642684
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: 74.322574
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: 2.4999574
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 2.49999958
issuer_shares_purchased: 3363715
old_cohort_shares_tendered_equivalent: 3363658.240737
old_fraction_pre_buyback: 0.999983126019
execution_price_eur: 74.322574
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: 4.80470021
company_sale_gain_vs_book_oku: 0.04621013
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: 0.97626767
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 0.97628414
per_ordinary_share_eur: 0.49
holder_shares_on_assumed_ex_date: 199238299
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: 1.478987
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: Philips
amount_received_by_company_oku: 1.09924709
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: 0.29979466
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: 0.0899384
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: 0.04996578
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: 0.06995209
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: 0.01498973
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: 0.54962355
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: 0.61957563
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: 3.37268994
estimated_owner_fcfe_y1_oku: 0.25295175
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: 0.98569995
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 0.98573351
per_ordinary_share_eur: 0.50323
holder_shares_on_assumed_ex_date: 195874640.75926
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: 78.616012
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: 1.00201895
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.00205305
issuer_shares_purchased: 1274617
old_cohort_shares_tendered_equivalent: 1274573.615675
old_fraction_pre_buyback: 0.999965962854
execution_price_eur: 78.616012
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: 1.56460616
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: 1.13532649
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: 0.30662834
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: 0.09243943
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: 0.05110472
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: 0.07189733
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: 0.01540657
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: 0.56766324
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: 0.6305922
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: 3.38193018
estimated_owner_fcfe_y1_oku: 0.25364476
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

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想定日: 2029-07-02
year: 2.6529774127
金額: 1.00572664
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.0075
per_ordinary_share_eur: 0.516817
holder_shares_on_assumed_ex_date: 194600067.14359
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: 81.593005
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: 0.99755627
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 0.99931523
issuer_shares_purchased: 1224756
old_cohort_shares_tendered_equivalent: 1222600.229488
old_fraction_pre_buyback: 0.998239836741
execution_price_eur: 81.593005
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: 2029-09-30
year: 2.8993839836
金額: 0
種類: portfolio_cash_dividend_to_exor
date_status: forecast_unannounced
investee: Ferrari
amount_received_by_company_oku: 1.6461495
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: 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: 1.16619124
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: 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: 0.31190637
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: 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: 0.09449153
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: 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: 0.05198439
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: 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: 0.07349341
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: 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: 0.01574859
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: 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: 0.58309562
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: 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: 0.63830231
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: 2029-10-15
year: 2.9404517454
金額: 0
種類: new_portfolio_investment
date_status: forecast_unannounced
company_investment_oku: 3.37268994
estimated_owner_fcfe_y1_oku: 0.25295175
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: 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: 274811
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: 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: 1.02639205
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.02966047
per_ordinary_share_eur: 0.530771
holder_shares_on_assumed_ex_date: 193377466.9141
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

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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: 84.68273
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: 2030-09-13
year: 3.8521560575
金額: 0.9961434
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 0.99931549
issuer_shares_purchased: 1180070
old_cohort_shares_tendered_equivalent: 1176324.138474
old_fraction_pre_buyback: 0.996825729384
execution_price_eur: 84.68273
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: 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: 1.73668772
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: 1.20117698
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: 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: 0.31814449
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: 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: 0.2698152
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: 0.09685382
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: 0.05302408
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: 0.07533075
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: 0.0161423
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: 0.60058849
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: 0.64787684
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: 3.37268994
estimated_owner_fcfe_y1_oku: 0.25295175
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: 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: 274811
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: 222861
cash_to_exor_strike_proceeds_oku: 0.19268562
option_strike_eur: 86.46
assumed_market_price_eur: 87.22785106
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: 1.04769246
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.05252671
per_ordinary_share_eur: 0.545102
holder_shares_on_assumed_ex_date: 192201142.77563
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: 87.916383
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: 0.9947249
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 0.99931475
issuer_shares_purchased: 1136665
old_cohort_shares_tendered_equivalent: 1131444.303169
old_fraction_pre_buyback: 0.995407004851
execution_price_eur: 87.916383
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: 1.83220555
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: 1.23721229
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: 0.32450738
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: 0.2806078
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: 0.09927516
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: 0.05408456
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: 0.07721402
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: 0.01654586
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: 0.61860614
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: 0.65759499
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: 1.74880219
estimated_owner_fcfe_y1_oku: 0.13116016
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: 274811
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: 1.06964611
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.07736773
per_ordinary_share_eur: 0.55982
holder_shares_on_assumed_ex_date: 191069698.47246
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: 91.264194
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: 0.99487074
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 1.00205256
issuer_shares_purchased: 1097969
old_cohort_shares_tendered_equivalent: 1090099.733342
old_fraction_pre_buyback: 0.992832888125
execution_price_eur: 91.264194
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: 1.93827268
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: 1.27781997
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: 0.33190437
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: 0.29263166
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

103

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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: 0.10203583
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: 0.0553174
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: 0.0793612
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: 0.01700597
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: 0.63890998
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: 0.66928757
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: 1.75359343
estimated_owner_fcfe_y1_oku: 0.13151951
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: 275564
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: 1.09225919
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.10172836
per_ordinary_share_eur: 0.574935
holder_shares_on_assumed_ex_date: 189979598.73912
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: 94.729815
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: 0.9907263
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 0.99931524
issuer_shares_purchased: 1054911
old_cohort_shares_tendered_equivalent: 1045844.21799
old_fraction_pre_buyback: 0.991405168767
execution_price_eur: 94.729815
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: 2.03929058
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: 1.31255851
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: 0.33761748
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: 0.3035054
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: 0.10430097
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: 0.05626958
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: 0.08112298
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: 0.01738349
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: 0.65627926
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: 0.6774708
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: 1.74880219
estimated_owner_fcfe_y1_oku: 0.13116016
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

内容を開く

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: 274811
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: 1.11557492
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.12686886
per_ordinary_share_eur: 0.590458
holder_shares_on_assumed_ex_date: 188933754.52113
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: 98.327038
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: 0.98929984
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 0.99931539
issuer_shares_purchased: 1016318
old_cohort_shares_tendered_equivalent: 1006132.040911
old_fraction_pre_buyback: 0.989977586652
execution_price_eur: 98.327038
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: 2.15145156
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: 1.35193527
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: 0.34436983
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: 0.31564562
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: 0.10690849
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: 0.05739497
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: 0.08315105
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: 0.01781808
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: 0.67596763
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: 0.68763286
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: 1.74880219
estimated_owner_fcfe_y1_oku: 0.13116016
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: 274811
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: 1.13959425
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.15279782
per_ordinary_share_eur: 0.606401
holder_shares_on_assumed_ex_date: 187927622.48021
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: 102.050439
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: 0.98786899
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 0.99931464
issuer_shares_purchased: 979236
old_cohort_shares_tendered_equivalent: 968020.320387
old_fraction_pre_buyback: 0.988546499912
execution_price_eur: 102.050439
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: 2.2697814
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: 1.39249333
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: 0.35125723
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: 0.32827144
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: 0.10958121
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: 0.05854287
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: 0.08522983
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: 0.01826353
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: 0.69624666
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: 0.69794736
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

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想定日: 2035-10-15
year: 8.93908282
金額: 0
種類: new_portfolio_investment
date_status: forecast_unannounced
company_investment_oku: 1.74880219
estimated_owner_fcfe_y1_oku: 0.13116016
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: 274811
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: 1.16433472
種類: exor_shareholder_cash_dividend
date_status: forecast_unannounced
company_total_paid_oku: 1.17953639
per_ordinary_share_eur: 0.622773
holder_shares_on_assumed_ex_date: 186959602.15983
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: 105.947286
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: 0.84049718
種類: exor_pro_rata_tender_cash_to_old_cohort
date_status: forecast_unannounced
company_cash_paid_oku: 0.85147079
issuer_shares_purchased: 803674
old_cohort_shares_tendered_equivalent: 793316.383751
old_fraction_pre_buyback: 0.987112167062
execution_price_eur: 105.947286
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: 2.04034692
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: 1.22207503
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: 0.30527621
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: 0.29089346
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: 0.09570342
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: 0.05087937
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: 0.07443599
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: 0.01595057
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: 0.61103752
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: 0.60360973
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: 1.49007529
estimated_owner_fcfe_y1_oku: 0.11175565
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

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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

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

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asset_values_oku

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CNH: 38.47718575
Christian Louboutin: 5.53975359
Clarivate: 1.41463745
Ferrari: 142.72881232
Institut Merieux: 6.85631759
Juventus: 4.33132115
Lingotto LP interests: 44.79147228
Other assets incl bioMerieux: 21.39022245
Philips: 51.274515
Stellantis: 18.25671746
Tag Holding: 2.41626283
The Economist Group: 4.08139767
Via Transportation: 4.86768509
Welltec: 4.75849008

fair_value_investments_end_oku

351.18479071

company_investment_cash_dividends_oku

dividend_by_investee_oku

記載なし

market_or_private_revaluations_oku

3.34095766

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

3.33222392

estimated_FVTOCI_mark_through_OCI_oku

0.00873374

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

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cash_interest_received_oku

0.11906323

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

0.14976263

debt_new_borrowings_oku

debt_repaid_oku

gross_debt_end_oku

35.52

other_liabilities_oku

0.68

cash_end_oku

30.47412101

parent_profit_after_sbc_oku

3.20665799

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

345.45891173

book_equity_rollforward_oku

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begin_equity: 343.27135658
net_profit_after_sbc: 3.20665799
sbc_equity_reserve: 0.0421629
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: 0
cash_buybacks: -1.06999948
expected_equity: 345.45891173
difference_oku: 0
estimated_FVTOCI_other_comprehensive_income: 0.00873374

profit_before_income_tax_oku

3.20665799

total_Other_Comprehensive_Income_proxy_oku

0.00873374

capital

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ordinary_issued: 206326791
ordinary_treasury: 7085130
ordinary_outstanding: 199241661
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 199238299
old_holder_remaining_fraction: 0.999983126019
issuer_shares_repurchased: 1452961
treasury_shares_cancelled: 1452961
sbc_treasury_delivered_shares: 3362
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 1.06999948
old_cohort_dividend_oku: 0
issuer_cash_dividends_oku: 0
issuer_buybacks_oku: 1.06999948

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 1.06999948
cohort_share_of_year_end_nav_oku: 345.45308246
remaining_share_equivalence_factor: 0.999983126019

actions

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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: 1.06999948
old_holder_cash_oku: 1.06999948
shares_purchased: 1452961

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: 1452961
old_holder_cash_oku: 0

状態

projection_all_rows_despite_2026_06_30_last_IFRS_report

IFRS_investment_entity_profit_loss_bridge

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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: 3.33222392
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: 0.11906323
financial_expenses_oku: -0.14976263
profit_before_taxes_oku: 3.20665799
income_taxes_oku: -0
profit_after_taxes_oku: 3.20665799
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: 0.00873374
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: 3.33222392
alternative_pre_financing_result_oku: 3.23735739
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

351.18479071

現金（億）

30.47412101

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

345.45891173

株数

内容を開く

ordinary_issued: 206326791
ordinary_treasury: 7085130
ordinary_outstanding: 199241661
old_holder_remaining_shares: 199238299
old_holder_equivalence_factor: 0.999983126019
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 41.44562081
Christian Louboutin: 5.75550969
Clarivate: 1.44291064
Ferrari: 151.51901877
Institut Merieux: 7.14321158
Juventus: 4.52609424
Lingotto LP interests: 46.25605481
New diversified investment 2027: 3.37268994
Other assets incl bioMerieux: 21.30503182
Philips: 53.24957118
Stellantis: 19.53378305
Tag Holding: 2.50992886
The Economist Group: 4.15419504
Via Transportation: 5.52434373

fair_value_investments_end_oku

367.73796416

company_investment_cash_dividends_oku

4.27207392

dividend_by_investee_oku

内容を開く

CNH: 0.29979466
Christian Louboutin: 0.04996578
Ferrari: 1.478987
Institut Merieux: 0.0899384
Lingotto LP interests: 0.54962355
Other assets incl bioMerieux: 0.61957563
Philips: 1.09924709
Tag Holding: 0.01498973
The Economist Group: 0.06995209

market_or_private_revaluations_oku

17.98518372

asset_sales_cash_oku

4.80470021

assets_sold

1: Welltec

new_investment_cash_deployed_oku

3.37268994

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

17.99445835

estimated_FVTOCI_mark_through_OCI_oku

-0.00927463

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.90383606

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

0.04968311

interest_paid_oku

0.99387926

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

32.20194193

parent_profit_after_sbc_oku

21.47835011

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

363.73990609

book_equity_rollforward_oku

内容を開く

begin_equity: 345.45891173
net_profit_after_sbc: 21.47835011
sbc_equity_reserve: 0.2882026
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -0.97628414
cash_buybacks: -2.49999958
expected_equity: 363.73990609
difference_oku: 0
estimated_FVTOCI_other_comprehensive_income: -0.00927463

profit_before_income_tax_oku

21.52803322

total_Other_Comprehensive_Income_proxy_oku

-0.00927463

capital

内容を開く

ordinary_issued: 202963076
ordinary_treasury: 7081768
ordinary_outstanding: 195881308
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 195874640.75926
old_holder_remaining_fraction: 0.999965962854
issuer_shares_repurchased: 3363715
treasury_shares_cancelled: 3363715
sbc_treasury_delivered_shares: 3362
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 2.4999574
old_cohort_dividend_oku: 0.97626767
issuer_cash_dividends_oku: 0.97628414
issuer_buybacks_oku: 2.49999958

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 3.47622506
cohort_share_of_year_end_nav_oku: 363.72752542
remaining_share_equivalence_factor: 0.999965962854

actions

内容を開く

日付: 2027-03-31
event: sale of Welltec
company_proceeds_oku: 4.80470021
equity_gain_oku: 0.04621013

内容を開く

日付: 2027-10-15
event: New asset deployment
cost_oku: 3.37268994
asset_adding_oku: 3.37268994

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: 0.97628414
old_holder_cash_oku: 0.97626767

内容を開く

日付: 2027-03-15
event: pro rata share repurchase
company_cash_oku: 2.49999958
old_holder_cash_oku: 2.4999574
shares_purchased: 3363715

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: 3363715
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: 4.27207392
change_in_fair_value_of_investment_activities_FVTPL_oku: 17.99445835
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: 0.90383606
financial_expenses_oku: -0.99387926
profit_before_taxes_oku: 21.52803322
income_taxes_oku: -0.04968311
profit_after_taxes_oku: 21.47835011
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: -0.00927463
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: 22.26653227
alternative_pre_financing_result_oku: 21.61807642
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

367.73796416

現金（億）

32.20194193

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

363.73990609

株数

内容を開く

ordinary_issued: 202963076
ordinary_treasury: 7081768
ordinary_outstanding: 195881308
old_holder_remaining_shares: 195874640.75926
old_holder_equivalence_factor: 0.999965962854
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 44.66940379
Christian Louboutin: 5.98125014
Clarivate: 1.4718287
Ferrari: 160.88697254
Institut Merieux: 7.44447736
Juventus: 4.73019599
Lingotto LP interests: 47.77428316
New diversified investment 2027: 3.62618014
New diversified investment 2028: 3.38193018
Other assets incl bioMerieux: 21.2081727
Philips: 55.31597288
Stellantis: 20.90405185
Tag Holding: 2.60770616
The Economist Group: 4.22799827
Via Transportation: 6.27176074

fair_value_investments_end_oku

390.50218461

company_investment_cash_dividends_oku

4.43566448

dividend_by_investee_oku

内容を開く

CNH: 0.30662834
Christian Louboutin: 0.05110472
Ferrari: 1.56460616
Institut Merieux: 0.09243943
Lingotto LP interests: 0.56766324
Other assets incl bioMerieux: 0.6305922
Philips: 1.13532649
Tag Holding: 0.01540657
The Economist Group: 0.07189733

market_or_private_revaluations_oku

19.38229026

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

3.38193018

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

19.39283522

estimated_FVTOCI_mark_through_OCI_oku

-0.01054496

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.83309908

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

0.05070109

interest_paid_oku

0.99660222

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

30.68160797

parent_profit_after_sbc_oku

22.94455606

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

384.98379258

book_equity_rollforward_oku

内容を開く

begin_equity: 363.73990609
net_profit_after_sbc: 22.94455606
sbc_equity_reserve: 0.29766196
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -0.98573351
cash_buybacks: -1.00205305
expected_equity: 384.98379259
difference_oku: -1.0E-8
estimated_FVTOCI_other_comprehensive_income: -0.01054496

profit_before_income_tax_oku

22.99525715

total_Other_Comprehensive_Income_proxy_oku

-0.01054496

capital

内容を開く

ordinary_issued: 201688459
ordinary_treasury: 6745260
ordinary_outstanding: 194943199
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 194600067.14359
old_holder_remaining_fraction: 0.998239836741
issuer_shares_repurchased: 1274617
treasury_shares_cancelled: 1274617
sbc_treasury_delivered_shares: 336508
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 1.00201895
old_cohort_dividend_oku: 0.98569995
issuer_cash_dividends_oku: 0.98573351
issuer_buybacks_oku: 1.00205305

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 1.9877189
cohort_share_of_year_end_nav_oku: 384.30615825
remaining_share_equivalence_factor: 0.998239836741

actions

内容を開く

日付: 2028-10-13
event: New asset deployment
cost_oku: 3.38193018
asset_adding_oku: 3.38193018

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: 0.98573351
old_holder_cash_oku: 0.98569995

内容を開く

日付: 2028-09-15
event: pro rata share repurchase
company_cash_oku: 1.00205305
old_holder_cash_oku: 1.00201895
shares_purchased: 1274617

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: 1274617
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: 4.43566448
change_in_fair_value_of_investment_activities_FVTPL_oku: 19.39283522
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: 0.83309908
financial_expenses_oku: -0.99660222
profit_before_taxes_oku: 22.99525715
income_taxes_oku: -0.05070109
profit_after_taxes_oku: 22.94455606
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: -0.01054496
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: 23.8284997
alternative_pre_financing_result_oku: 23.15876029
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

390.50218461

現金（億）

30.68160797

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

384.98379258

株数

内容を開く

ordinary_issued: 201688459
ordinary_treasury: 6745260
ordinary_outstanding: 194943199
old_holder_remaining_shares: 194600067.14359
old_holder_equivalence_factor: 0.998239836741
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 48.15169054
Christian Louboutin: 6.2161646
Clarivate: 1.50124492
Ferrari: 170.81647772
Institut Merieux: 7.75914427
Juventus: 4.94290589
Lingotto LP interests: 49.33952619
New diversified investment 2027: 3.89795069
New diversified investment 2028: 3.63539499
New diversified investment 2029: 3.37268994
Other assets incl bioMerieux: 21.09970731
Philips: 57.46640153
Stellantis: 22.36629968
Tag Holding: 2.70922225
The Economist Group: 4.30238176
Via Transportation: 7.11783148

fair_value_investments_end_oku

414.69503376

company_investment_cash_dividends_oku

4.58136296

dividend_by_investee_oku

内容を開く

CNH: 0.31190637
Christian Louboutin: 0.05198439
Ferrari: 1.6461495
Institut Merieux: 0.09449153
Lingotto LP interests: 0.58309562
Other assets incl bioMerieux: 0.63830231
Philips: 1.16619124
Tag Holding: 0.01574859
The Economist Group: 0.07349341

market_or_private_revaluations_oku

20.82015922

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

3.37268994

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

20.83196775

estimated_FVTOCI_mark_through_OCI_oku

-0.01180853

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.79671133

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

0.05202603

interest_paid_oku

0.99387926

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

29.25207912

parent_profit_after_sbc_oku

24.47618994

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

407.74711288

book_equity_rollforward_oku

内容を開く

begin_equity: 384.98379258
net_profit_after_sbc: 24.47618994
sbc_equity_reserve: 0.30575414
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.0075
cash_buybacks: -0.99931523
expected_equity: 407.7471129
difference_oku: -2.0E-8
estimated_FVTOCI_other_comprehensive_income: -0.01180853

profit_before_income_tax_oku

24.52821597

total_Other_Comprehensive_Income_proxy_oku

-0.01180853

capital

内容を開く

ordinary_issued: 200463703
ordinary_treasury: 6470449
ordinary_outstanding: 193993254
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 193377466.9141
old_holder_remaining_fraction: 0.996825729384
issuer_shares_repurchased: 1224756
treasury_shares_cancelled: 1224756
sbc_treasury_delivered_shares: 274811
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 0.99755627
old_cohort_dividend_oku: 1.00572664
issuer_cash_dividends_oku: 1.0075
issuer_buybacks_oku: 0.99931523

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.00328291
cohort_share_of_year_end_nav_oku: 406.45281321
remaining_share_equivalence_factor: 0.996825729384

actions

内容を開く

日付: 2029-10-15
event: New asset deployment
cost_oku: 3.37268994
asset_adding_oku: 3.37268994

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: 1.0075
old_holder_cash_oku: 1.00572664

内容を開く

日付: 2029-09-14
event: pro rata share repurchase
company_cash_oku: 0.99931523
old_holder_cash_oku: 0.99755627
shares_purchased: 1224756

内容を開く

日付: 2029-12-31
event: share-based award delivered
treasury_decrease: 274811
ordinary_outstanding_increase: 274811

内容を開く

日付: 2029-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1224756
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: 4.58136296
change_in_fair_value_of_investment_activities_FVTPL_oku: 20.83196775
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: 0.79671133
financial_expenses_oku: -0.99387926
profit_before_taxes_oku: 24.52821597
income_taxes_oku: -0.05202603
profit_after_taxes_oku: 24.47618994
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: -0.01180853
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: 25.41333071
alternative_pre_financing_result_oku: 24.7253839
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

414.69503376

現金（億）

29.25207912

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

407.74711288

株数

内容を開く

ordinary_issued: 200463703
ordinary_treasury: 6470449
ordinary_outstanding: 193993254
old_holder_remaining_shares: 193377466.9141
old_holder_equivalence_factor: 0.996825729384
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 51.92352257
Christian Louboutin: 6.46130737
Clarivate: 1.53124907
Ferrari: 181.36986251
Institut Merieux: 8.08874341
Juventus: 5.16518104
Lingotto LP interests: 50.95766302
New diversified investment 2027: 4.19008958
New diversified investment 2028: 3.90785617
New diversified investment 2029: 3.62546222
New diversified investment 2030: 3.37268994
Other assets incl bioMerieux: 20.97895763
Philips: 59.71077926
Stellantis: 23.6610172
Tag Holding: 2.81490965
The Economist Group: 4.37752952
Via Transportation: 8.07803853

fair_value_investments_end_oku

440.21485866

company_investment_cash_dividends_oku

5.01564067

dividend_by_investee_oku

内容を開く

CNH: 0.31814449
Christian Louboutin: 0.05302408
Ferrari: 1.73668772
Institut Merieux: 0.09685382
Lingotto LP interests: 0.60058849
Other assets incl bioMerieux: 0.64787684
Philips: 1.20117698
Stellantis: 0.2698152
Tag Holding: 0.0161423
The Economist Group: 0.07533075

market_or_private_revaluations_oku

22.14713497

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

3.37268994

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

22.16028088

estimated_FVTOCI_mark_through_OCI_oku

-0.01314591

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.77184708

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

0.05719935

interest_paid_oku

0.99387926

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

28.19316391

parent_profit_after_sbc_oku

26.18810481

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

432.20802257

book_equity_rollforward_oku

内容を開く

begin_equity: 407.74711288
net_profit_after_sbc: 26.18810481
sbc_equity_reserve: 0.31492676
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.02966047
cash_buybacks: -0.99931549
expected_equity: 432.20802258
difference_oku: -1.0E-8
estimated_FVTOCI_other_comprehensive_income: -0.01314591

profit_before_income_tax_oku

26.24530416

total_Other_Comprehensive_Income_proxy_oku

-0.01314591

capital

内容を開く

ordinary_issued: 199283633
ordinary_treasury: 6195638
ordinary_outstanding: 193087995
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 192201142.77563
old_holder_remaining_fraction: 0.995407004851
issuer_shares_repurchased: 1180070
treasury_shares_cancelled: 1180070
sbc_treasury_delivered_shares: 274811
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 0.9961434
old_cohort_dividend_oku: 1.02639205
issuer_cash_dividends_oku: 1.02966047
issuer_buybacks_oku: 0.99931549

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.02253544
cohort_share_of_year_end_nav_oku: 430.22289322
remaining_share_equivalence_factor: 0.995407004851

actions

内容を開く

日付: 2030-10-15
event: New asset deployment
cost_oku: 3.37268994
asset_adding_oku: 3.37268994

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: 1.02966047
old_holder_cash_oku: 1.02639205

内容を開く

日付: 2030-09-13
event: pro rata share repurchase
company_cash_oku: 0.99931549
old_holder_cash_oku: 0.9961434
shares_purchased: 1180070

内容を開く

日付: 2030-12-31
event: share-based award delivered
treasury_decrease: 274811
ordinary_outstanding_increase: 274811

内容を開く

日付: 2030-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1180070
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: 5.01564067
change_in_fair_value_of_investment_activities_FVTPL_oku: 22.16028088
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: 0.77184708
financial_expenses_oku: -0.99387926
profit_before_taxes_oku: 26.24530416
income_taxes_oku: -0.05719935
profit_after_taxes_oku: 26.18810481
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: -0.01314591
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: 27.17592155
alternative_pre_financing_result_oku: 26.46733634
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

440.21485866

現金（億）

28.19316391

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

432.20802257

株数

内容を開く

ordinary_issued: 199283633
ordinary_treasury: 6195638
ordinary_outstanding: 193087995
old_holder_remaining_shares: 192201142.77563
old_holder_equivalence_factor: 0.995407004851
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 56.00936892
Christian Louboutin: 6.71714827
Clarivate: 1.56185288
Ferrari: 192.58703482
Institut Merieux: 8.43403641
Juventus: 5.39745157
Lingotto LP interests: 52.6305474
New diversified investment 2027: 4.50412333
New diversified investment 2028: 4.20073743
New diversified investment 2029: 3.89717896
New diversified investment 2030: 3.62546222
New diversified investment 2031: 1.74880219
Other assets incl bioMerieux: 20.84547314
Philips: 62.05368945
Stellantis: 25.03550819
Tag Holding: 2.9249461
The Economist Group: 4.45342235
Via Transportation: 9.16777908

fair_value_investments_end_oku

465.79456272

company_investment_cash_dividends_oku

5.19785376

dividend_by_investee_oku

内容を開く

CNH: 0.32450738
Christian Louboutin: 0.05408456
Ferrari: 1.83220555
Institut Merieux: 0.09927516
Lingotto LP interests: 0.61860614
Other assets incl bioMerieux: 0.65759499
Philips: 1.23721229
Stellantis: 0.2806078
Tag Holding: 0.01654586
The Economist Group: 0.07721402

market_or_private_revaluations_oku

23.83090187

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

1.74880219

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

23.8454342

estimated_FVTOCI_mark_through_OCI_oku

-0.01453233

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.79051394

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

0.05965726

interest_paid_oku

0.99387926

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

29.11456884

parent_profit_after_sbc_oku

28.0504226

equity_issuance_cash_oku

option_exercise_cash_oku

0.19268562

ordinary_equity_end_oku

458.70913156

book_equity_rollforward_oku

内容を開く

begin_equity: 432.20802257
net_profit_after_sbc: 28.0504226
sbc_equity_reserve: 0.32437457
third_party_issue: 0
stock_option_cash_exercise: 0.19268562
cash_dividends: -1.05252671
cash_buybacks: -0.99931475
expected_equity: 458.70913157
difference_oku: -1.0E-8
estimated_FVTOCI_other_comprehensive_income: -0.01453233

profit_before_income_tax_oku

28.11007986

total_Other_Comprehensive_Income_proxy_oku

-0.01453233

capital

内容を開く

ordinary_issued: 198146968
ordinary_treasury: 5697966
ordinary_outstanding: 192449002
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 191069698.47246
old_holder_remaining_fraction: 0.992832888125
issuer_shares_repurchased: 1136665
treasury_shares_cancelled: 1136665
sbc_treasury_delivered_shares: 497672
2026_grant_PSO_exercised_from_treasury_shares: 222861
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 0.9947249
old_cohort_dividend_oku: 1.04769246
issuer_cash_dividends_oku: 1.05252671
issuer_buybacks_oku: 0.99931475

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.04241737
cohort_share_of_year_end_nav_oku: 455.4215119
remaining_share_equivalence_factor: 0.992832888125

actions

内容を開く

日付: 2031-10-15
event: New asset deployment
cost_oku: 1.74880219
asset_adding_oku: 1.74880219

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: 1.05252671
old_holder_cash_oku: 1.04769246

内容を開く

日付: 2031-09-15
event: pro rata share repurchase
company_cash_oku: 0.99931475
old_holder_cash_oku: 0.9947249
shares_purchased: 1136665

内容を開く

日付: 2031-06-30
event: option exercise 2026 PSOs from treasury
shares_treasury_delivered: 222861
company_cash_from_strike_oku: 0.19268562

内容を開く

日付: 2031-12-31
event: share-based award delivered
treasury_decrease: 274811
ordinary_outstanding_increase: 274811

内容を開く

日付: 2031-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1136665
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: 5.19785376
change_in_fair_value_of_investment_activities_FVTPL_oku: 23.8454342
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: 0.79051394
financial_expenses_oku: -0.99387926
profit_before_taxes_oku: 28.11007986
income_taxes_oku: -0.05965726
profit_after_taxes_oku: 28.0504226
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: -0.01453233
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: 29.04328796
alternative_pre_financing_result_oku: 28.31344518
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

465.79456272

現金（億）

29.11456884

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

458.70913156

株数

内容を開く

ordinary_issued: 198146968
ordinary_treasury: 5697966
ordinary_outstanding: 192449002
old_holder_remaining_shares: 191069698.47246
old_holder_equivalence_factor: 0.992832888125
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 60.44844169
Christian Louboutin: 6.98493172
Clarivate: 1.59315472
Ferrari: 204.54450485
Institut Merieux: 8.79685087
Juventus: 5.6408467
Lingotto LP interests: 54.36498329
New diversified investment 2027: 4.84265168
New diversified investment 2028: 4.5164634
New diversified investment 2029: 4.19008958
New diversified investment 2030: 3.89795069
New diversified investment 2031: 1.88024155
New diversified investment 2032: 1.75359343
Other assets incl bioMerieux: 20.69840579
Philips: 64.50696144
Stellantis: 26.49908401
Tag Holding: 3.03983898
The Economist Group: 4.53025655
Via Transportation: 10.40813528

fair_value_investments_end_oku

493.13738623

company_investment_cash_dividends_oku

5.40254663

dividend_by_investee_oku

内容を開く

CNH: 0.33190437
Christian Louboutin: 0.0553174
Ferrari: 1.93827268
Institut Merieux: 0.10203583
Lingotto LP interests: 0.63890998
Other assets incl bioMerieux: 0.66928757
Philips: 1.27781997
Stellantis: 0.29263166
Tag Holding: 0.01700597
The Economist Group: 0.0793612

market_or_private_revaluations_oku

25.58923008

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

1.75359343

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

25.60524117

estimated_FVTOCI_mark_through_OCI_oku

-0.01601109

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.82076996

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

0.06250319

interest_paid_oku

0.99660222

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

30.02698984

parent_profit_after_sbc_oku

30.01565474

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

486.96437608

book_equity_rollforward_oku

内容を開く

begin_equity: 458.70913156
net_profit_after_sbc: 30.01565474
sbc_equity_reserve: 0.33502116
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.07736773
cash_buybacks: -1.00205256
expected_equity: 486.96437608
difference_oku: 0
estimated_FVTOCI_other_comprehensive_income: -0.01601109

profit_before_income_tax_oku

30.07815793

total_Other_Comprehensive_Income_proxy_oku

-0.01601109

capital

内容を開く

ordinary_issued: 197048999
ordinary_treasury: 5422402
ordinary_outstanding: 191626597
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 189979598.73912
old_holder_remaining_fraction: 0.991405168767
issuer_shares_repurchased: 1097969
treasury_shares_cancelled: 1097969
sbc_treasury_delivered_shares: 275564
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 0.99487074
old_cohort_dividend_oku: 1.06964611
issuer_cash_dividends_oku: 1.07736773
issuer_buybacks_oku: 1.00205256

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.06451685
cohort_share_of_year_end_nav_oku: 482.77899945
remaining_share_equivalence_factor: 0.991405168767

actions

内容を開く

日付: 2032-10-15
event: New asset deployment
cost_oku: 1.75359343
asset_adding_oku: 1.75359343

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: 1.07736773
old_holder_cash_oku: 1.06964611

内容を開く

日付: 2032-09-15
event: pro rata share repurchase
company_cash_oku: 1.00205256
old_holder_cash_oku: 0.99487074
shares_purchased: 1097969

内容を開く

日付: 2032-12-31
event: share-based award delivered
treasury_decrease: 275564
ordinary_outstanding_increase: 275564

内容を開く

日付: 2032-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1097969
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: 5.40254663
change_in_fair_value_of_investment_activities_FVTPL_oku: 25.60524117
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: 0.82076996
financial_expenses_oku: -0.99660222
profit_before_taxes_oku: 30.07815793
income_taxes_oku: -0.06250319
profit_after_taxes_oku: 30.01565474
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: -0.01601109
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: 31.0077878
alternative_pre_financing_result_oku: 30.25399019
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

493.13738623

現金（億）

30.02698984

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

486.96437608

株数

内容を開く

ordinary_issued: 197048999
ordinary_treasury: 5422402
ordinary_outstanding: 191626597
old_holder_remaining_shares: 189979598.73912
old_holder_equivalence_factor: 0.991405168767
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 65.2452796
Christian Louboutin: 7.26370396
Clarivate: 1.62499579
Ferrari: 217.22198417
Institut Merieux: 9.1760366
Juventus: 5.89450721
Lingotto LP interests: 56.15341669
New diversified investment 2027: 5.20559286
New diversified investment 2028: 4.85495782
New diversified investment 2029: 4.50412333
New diversified investment 2030: 4.19008958
New diversified investment 2031: 2.02115962
New diversified investment 2032: 1.88501962
New diversified investment 2033: 1.74880219
Other assets incl bioMerieux: 20.53803656
Philips: 67.06209358
Stellantis: 28.04920145
Tag Holding: 3.15915254
The Economist Group: 4.60758215
Via Transportation: 11.81220968

fair_value_investments_end_oku

522.21794502

company_investment_cash_dividends_oku

5.58579905

dividend_by_investee_oku

内容を開く

CNH: 0.33761748
Christian Louboutin: 0.05626958
Ferrari: 2.03929058
Institut Merieux: 0.10430097
Lingotto LP interests: 0.65627926
Other assets incl bioMerieux: 0.6774708
Philips: 1.31255851
Stellantis: 0.3035054
Tag Holding: 0.01738349
The Economist Group: 0.08112298

market_or_private_revaluations_oku

27.3317566

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

1.74880219

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

27.34921585

estimated_FVTOCI_mark_through_OCI_oku

-0.01745925

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.8460202

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

0.06510112

interest_paid_oku

0.99387926

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

31.1198217

parent_profit_after_sbc_oku

31.94776452

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

517.13776672

book_equity_rollforward_oku

内容を開く

begin_equity: 486.96437608
net_profit_after_sbc: 31.94776452
sbc_equity_reserve: 0.34412898
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.10172836
cash_buybacks: -0.99931524
expected_equity: 517.13776673
difference_oku: -1.0E-8
estimated_FVTOCI_other_comprehensive_income: -0.01745925

profit_before_income_tax_oku

32.01286564

total_Other_Comprehensive_Income_proxy_oku

-0.01745925

capital

内容を開く

ordinary_issued: 195994088
ordinary_treasury: 5147591
ordinary_outstanding: 190846497
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 188933754.52113
old_holder_remaining_fraction: 0.989977586652
issuer_shares_repurchased: 1054911
treasury_shares_cancelled: 1054911
sbc_treasury_delivered_shares: 274811
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 0.9907263
old_cohort_dividend_oku: 1.09225919
issuer_cash_dividends_oku: 1.10172836
issuer_buybacks_oku: 0.99931524

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.08298549
cohort_share_of_year_end_nav_oku: 511.95479827
remaining_share_equivalence_factor: 0.989977586652

actions

内容を開く

日付: 2033-10-14
event: New asset deployment
cost_oku: 1.74880219
asset_adding_oku: 1.74880219

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: 1.10172836
old_holder_cash_oku: 1.09225919

内容を開く

日付: 2033-09-15
event: pro rata share repurchase
company_cash_oku: 0.99931524
old_holder_cash_oku: 0.9907263
shares_purchased: 1054911

内容を開く

日付: 2033-12-31
event: share-based award delivered
treasury_decrease: 274811
ordinary_outstanding_increase: 274811

内容を開く

日付: 2033-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1054911
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: 5.58579905
change_in_fair_value_of_investment_activities_FVTPL_oku: 27.34921585
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: 0.8460202
financial_expenses_oku: -0.99387926
profit_before_taxes_oku: 32.01286564
income_taxes_oku: -0.06510112
profit_after_taxes_oku: 31.94776452
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: -0.01745925
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: 32.9350149
alternative_pre_financing_result_oku: 32.1607247
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

522.21794502

現金（億）

31.1198217

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

517.13776672

株数

内容を開く

ordinary_issued: 195994088
ordinary_treasury: 5147591
ordinary_outstanding: 190846497
old_holder_remaining_shares: 188933754.52113
old_holder_equivalence_factor: 0.989977586652
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 70.44280578
Christian Louboutin: 7.55472251
Clarivate: 1.65747324
Ferrari: 230.6994343
Institut Merieux: 9.57345536
Juventus: 6.15957446
Lingotto LP interests: 58.00258492
New diversified investment 2027: 5.59573533
New diversified investment 2028: 5.21882132
New diversified investment 2029: 4.84169291
New diversified investment 2030: 4.50412333
New diversified investment 2031: 2.17263904
New diversified investment 2032: 2.02629579
New diversified investment 2033: 1.8798693
New diversified investment 2034: 1.74880219
Other assets incl bioMerieux: 20.36349882
Philips: 69.73104888
Stellantis: 29.69561009
Tag Holding: 3.28339686
The Economist Group: 4.68558418
Via Transportation: 13.40569599

fair_value_investments_end_oku

553.24286459

company_investment_cash_dividends_oku

5.79227537

dividend_by_investee_oku

内容を開く

CNH: 0.34436983
Christian Louboutin: 0.05739497
Ferrari: 2.15145156
Institut Merieux: 0.10690849
Lingotto LP interests: 0.67596763
Other assets incl bioMerieux: 0.68763286
Philips: 1.35193527
Stellantis: 0.31564562
Tag Holding: 0.01781808
The Economist Group: 0.08315105

market_or_private_revaluations_oku

29.27611738

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

1.74880219

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

29.29511914

estimated_FVTOCI_mark_through_OCI_oku

-0.01900176

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.87848067

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

0.06803954

interest_paid_oku

0.99387926

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

32.41060645

parent_profit_after_sbc_oku

34.10643747

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

549.45347104

book_equity_rollforward_oku

内容を開く

begin_equity: 517.13776672
net_profit_after_sbc: 34.10643747
sbc_equity_reserve: 0.35445285
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.12686886
cash_buybacks: -0.99931539
expected_equity: 549.45347103
difference_oku: 1.0E-8
estimated_FVTOCI_other_comprehensive_income: -0.01900176

profit_before_income_tax_oku

34.17447701

total_Other_Comprehensive_Income_proxy_oku

-0.01900176

capital

内容を開く

ordinary_issued: 194977770
ordinary_treasury: 4872780
ordinary_outstanding: 190104990
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 187927622.48022
old_holder_remaining_fraction: 0.988546499912
issuer_shares_repurchased: 1016318
treasury_shares_cancelled: 1016318
sbc_treasury_delivered_shares: 274811
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 0.98929984
old_cohort_dividend_oku: 1.11557492
issuer_cash_dividends_oku: 1.12686886
issuer_buybacks_oku: 0.99931539

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.10487475
cohort_share_of_year_end_nav_oku: 543.16030566
remaining_share_equivalence_factor: 0.988546499912

actions

内容を開く

日付: 2034-10-13
event: New asset deployment
cost_oku: 1.74880219
asset_adding_oku: 1.74880219

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: 1.12686886
old_holder_cash_oku: 1.11557492

内容を開く

日付: 2034-09-15
event: pro rata share repurchase
company_cash_oku: 0.99931539
old_holder_cash_oku: 0.98929984
shares_purchased: 1016318

内容を開く

日付: 2034-12-31
event: share-based award delivered
treasury_decrease: 274811
ordinary_outstanding_increase: 274811

内容を開く

日付: 2034-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 1016318
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: 5.79227537
change_in_fair_value_of_investment_activities_FVTPL_oku: 29.29511914
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: 0.87848067
financial_expenses_oku: -0.99387926
profit_before_taxes_oku: 34.17447701
income_taxes_oku: -0.06803954
profit_after_taxes_oku: 34.10643747
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: -0.01900176
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: 35.08739451
alternative_pre_financing_result_oku: 34.2898756
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

553.24286459

現金（億）

32.41060645

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

549.45347104

株数

内容を開く

ordinary_issued: 194977770
ordinary_treasury: 4872780
ordinary_outstanding: 190104990
old_holder_remaining_shares: 187927622.48021
old_holder_equivalence_factor: 0.988546499912
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 76.07491941
Christian Louboutin: 7.85855225
Clarivate: 1.69059979
Ferrari: 245.02824347
Institut Merieux: 9.99004408
Juventus: 6.43656139
Lingotto LP interests: 59.91462847
New diversified investment 2027: 6.01511772
New diversified investment 2028: 5.60995521
New diversified investment 2029: 5.20456224
New diversified investment 2030: 4.84169291
New diversified investment 2031: 2.33547136
New diversified investment 2032: 2.17816015
New diversified investment 2033: 2.02075946
New diversified investment 2034: 1.8798693
New diversified investment 2035: 1.74880219
Other assets incl bioMerieux: 20.17428616
Philips: 72.5194706
Stellantis: 31.44455993
Tag Holding: 3.41278282
The Economist Group: 4.76423561
Via Transportation: 15.2141462

fair_value_investments_end_oku

586.35742071

company_investment_cash_dividends_oku

6.00761485

dividend_by_investee_oku

内容を開く

CNH: 0.35125723
Christian Louboutin: 0.05854287
Ferrari: 2.2697814
Institut Merieux: 0.10958121
Lingotto LP interests: 0.69624666
Other assets incl bioMerieux: 0.69794736
Philips: 1.39249333
Stellantis: 0.32827144
Tag Holding: 0.01826353
The Economist Group: 0.08522983

market_or_private_revaluations_oku

31.36575393

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

1.74880219

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

31.38635334

estimated_FVTOCI_mark_through_OCI_oku

-0.02059941

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.91610801

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

0.07115531

interest_paid_oku

0.99387926

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

33.91202204

parent_profit_after_sbc_oku

36.42359716

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

584.06944276

book_equity_rollforward_oku

内容を開く

begin_equity: 549.45347104
net_profit_after_sbc: 36.42359716
sbc_equity_reserve: 0.36508643
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.15279782
cash_buybacks: -0.99931464
expected_equity: 584.06944276
difference_oku: 0
estimated_FVTOCI_other_comprehensive_income: -0.02059941

profit_before_income_tax_oku

36.49475247

total_Other_Comprehensive_Income_proxy_oku

-0.02059941

capital

内容を開く

ordinary_issued: 193998534
ordinary_treasury: 4597969
ordinary_outstanding: 189400565
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 186959602.15983
old_holder_remaining_fraction: 0.987112167062
issuer_shares_repurchased: 979236
treasury_shares_cancelled: 979236
sbc_treasury_delivered_shares: 274811
2026_grant_PSO_exercised_from_treasury_shares: 0
cash_issued_shares: 0
old_cohort_tender_proceeds_oku: 0.98786899
old_cohort_dividend_oku: 1.13959425
issuer_cash_dividends_oku: 1.15279782
issuer_buybacks_oku: 0.99931464

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.12746324
cohort_share_of_year_end_nav_oku: 576.54205335
remaining_share_equivalence_factor: 0.987112167062

actions

内容を開く

日付: 2035-10-15
event: New asset deployment
cost_oku: 1.74880219
asset_adding_oku: 1.74880219

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: 1.15279782
old_holder_cash_oku: 1.13959425

内容を開く

日付: 2035-09-14
event: pro rata share repurchase
company_cash_oku: 0.99931464
old_holder_cash_oku: 0.98786899
shares_purchased: 979236

内容を開く

日付: 2035-12-31
event: share-based award delivered
treasury_decrease: 274811
ordinary_outstanding_increase: 274811

内容を開く

日付: 2035-12-31
event: treasury cancellation (ownership neutral)
cancelled_shares: 979236
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: 6.00761485
change_in_fair_value_of_investment_activities_FVTPL_oku: 31.38635334
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: 0.91610801
financial_expenses_oku: -0.99387926
profit_before_taxes_oku: 36.49475247
income_taxes_oku: -0.07115531
profit_after_taxes_oku: 36.42359716
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: -0.02059941
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: 37.39396819
alternative_pre_financing_result_oku: 36.57252372
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

586.35742071

現金（億）

33.91202204

gross_notes_and_financing_debt_oku

35.52

other_liabilities_oku

0.68

parent_book_equity_oku

584.06944276

株数

内容を開く

ordinary_issued: 193998534
ordinary_treasury: 4597969
ordinary_outstanding: 189400565
old_holder_remaining_shares: 186959602.15983
old_holder_equivalence_factor: 0.987112167062
special_voting_ordinary_economic_shares: 0

investments

内容を開く

asset_values_oku

内容を開く

CNH: 81.24189805
Christian Louboutin: 8.12773251
Clarivate: 1.7193473
Ferrari: 257.93139777
Institut Merieux: 10.36031195
Juventus: 6.68237577
Lingotto LP interests: 61.59175023
New diversified investment 2027: 6.39716491
New diversified investment 2028: 5.96626871
New diversified investment 2029: 5.53512741
New diversified investment 2030: 5.14921061
New diversified investment 2031: 2.48380765
New diversified investment 2032: 2.3165049
New diversified investment 2033: 2.14910699
New diversified investment 2034: 1.99926825
New diversified investment 2035: 1.85987649
New diversified investment 2036: 1.49007529
Other assets incl bioMerieux: 19.99933244
Philips: 74.98615069
Stellantis: 33.01836567
Tag Holding: 3.52716754
The Economist Group: 4.83141682
Via Transportation: 16.94630424

fair_value_investments_end_oku

616.30996218

company_investment_cash_dividends_oku

5.31020823

dividend_by_investee_oku

内容を開く

CNH: 0.30527621
Christian Louboutin: 0.05087937
Ferrari: 2.04034692
Institut Merieux: 0.09570342
Lingotto LP interests: 0.61103752
Other assets incl bioMerieux: 0.60360973
Philips: 1.22207503
Stellantis: 0.29089346
Tag Holding: 0.01595057
The Economist Group: 0.07443599

market_or_private_revaluations_oku

28.46246618

asset_sales_cash_oku

assets_sold

記載なし

new_investment_cash_deployed_oku

1.49007529

company_portfolio_reinvestment_is_purchase_of_new_assets_not_an_expense

はい

estimated_FVTPL_fair_value_change_oku

28.48151323

estimated_FVTOCI_mark_through_OCI_oku

-0.01904705

market_or_private_revaluations_includes_FVTOCI_OCI

はい

holding_company

内容を開く

cash_interest_received_oku

0.80319645

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

0.06325875

interest_paid_oku

0.84683959

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

35.1937386

parent_profit_after_sbc_oku

32.9639064

equity_issuance_cash_oku

option_exercise_cash_oku

ordinary_equity_end_oku

615.30370078

book_equity_rollforward_oku

内容を開く

begin_equity: 584.06944276
net_profit_after_sbc: 32.9639064
sbc_equity_reserve: 0.32040585
third_party_issue: 0
stock_option_cash_exercise: 0
cash_dividends: -1.17953639
cash_buybacks: -0.85147079
expected_equity: 615.30370078
difference_oku: 0
estimated_FVTOCI_other_comprehensive_income: -0.01904705

profit_before_income_tax_oku

33.02716515

total_Other_Comprehensive_Income_proxy_oku

-0.01904705

capital

内容を開く

ordinary_issued: 193998534
ordinary_treasury: 5401643
ordinary_outstanding: 188596891
special_voting_shares_have_no_ordinary_cash_dividends: はい
old_holder_remaining_shares_equivalent: 186166285.77608
old_holder_remaining_fraction: 0.987112167062
issuer_shares_repurchased: 803674
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: 0.84049718
old_cohort_dividend_oku: 1.16433472
issuer_cash_dividends_oku: 1.17953639
issuer_buybacks_oku: 0.85147079

holder

actual_cash_paid_to_initial_cohort_this_period_oku: 2.0048319
cohort_share_of_year_end_nav_oku: 607.37376948
remaining_share_equivalence_factor: 0.987112167062

actions

内容を開く

日付: 2036-10-01
event: New asset deployment
cost_oku: 1.49007529
asset_adding_oku: 1.49007529

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: 1.17953639
old_holder_cash_oku: 1.16433472

内容を開く

日付: 2036-09-15
event: pro rata share repurchase
company_cash_oku: 0.85147079
old_holder_cash_oku: 0.84049718
shares_purchased: 803674

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: 5.31020823
change_in_fair_value_of_investment_activities_FVTPL_oku: 28.48151323
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: 0.80319645
financial_expenses_oku: -0.84683959
profit_before_taxes_oku: 33.02716515
income_taxes_oku: -0.06325875
profit_after_taxes_oku: 32.9639064
estimated_FVTOCI_value_change_in_OCI_not_PnL_oku: -0.01904705
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: 33.79172146
alternative_pre_financing_result_oku: 33.07080829
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: 257.93139777
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 98.93388887
2037_net_owner_FCFE_oku: 5.93603333
cost_of_equity: 0.092
perpetual_growth: 0.032
base_2027_fcfe_oku: 2.9
annual_owner_fcfe_growth: 0.072
book_to_intrinsic_difference_oku: -158.9975089

Philips

内容を開く

2036_book_mark_oku: 74.98615069
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 45.49112184
2037_net_owner_FCFE_oku: 3.18437853
cost_of_equity: 0.095
perpetual_growth: 0.025
base_2027_fcfe_oku: 1.75
annual_owner_fcfe_growth: 0.06
book_to_intrinsic_difference_oku: -29.49502885

CNH

内容を開く

2036_book_mark_oku: 81.24189805
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 30.04734466
2037_net_owner_FCFE_oku: 2.40378757
cost_of_equity: 0.105
perpetual_growth: 0.025
base_2027_fcfe_oku: 1.05
annual_owner_fcfe_growth: 0.085
book_to_intrinsic_difference_oku: -51.19455339

Stellantis

内容を開く

2036_book_mark_oku: 33.01836567
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 28.83068217
2037_net_owner_FCFE_oku: 2.5947614
cost_of_equity: 0.115
perpetual_growth: 0.025
base_2027_fcfe_oku: 1.3
annual_owner_fcfe_growth: 0.07
book_to_intrinsic_difference_oku: -4.1876835

Juventus

内容を開く

2036_book_mark_oku: 6.68237577
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 3.13178182
2037_net_owner_FCFE_oku: 0.344496
cost_of_equity: 0.125
perpetual_growth: 0.015
base_2027_fcfe_oku: 0.22
annual_owner_fcfe_growth: 0.045
book_to_intrinsic_difference_oku: -3.55059395

Via Transportation

内容を開く

2036_book_mark_oku: 16.94630424
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 3.39676393
2037_net_owner_FCFE_oku: 0.32269257
cost_of_equity: 0.125
perpetual_growth: 0.03
base_2027_fcfe_oku: 0.09
annual_owner_fcfe_growth: 0.135
book_to_intrinsic_difference_oku: -13.54954031

Clarivate

内容を開く

2036_book_mark_oku: 1.7193473
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 1.60905598
2037_net_owner_FCFE_oku: 0.18504144
cost_of_equity: 0.13
perpetual_growth: 0.015
base_2027_fcfe_oku: 0.15
annual_owner_fcfe_growth: 0.02
book_to_intrinsic_difference_oku: -0.11029132

Institut Merieux

内容を開く

2036_book_mark_oku: 10.36031195
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 9.37048045
2037_net_owner_FCFE_oku: 0.73089747
cost_of_equity: 0.105
perpetual_growth: 0.027
base_2027_fcfe_oku: 0.42
annual_owner_fcfe_growth: 0.055
book_to_intrinsic_difference_oku: -0.9898315

Christian Louboutin

内容を開く

2036_book_mark_oku: 8.12773251
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 5.60275567
2037_net_owner_FCFE_oku: 0.50424801
cost_of_equity: 0.115
perpetual_growth: 0.025
base_2027_fcfe_oku: 0.31
annual_owner_fcfe_growth: 0.048
book_to_intrinsic_difference_oku: -2.52497684

The Economist Group

内容を開く

2036_book_mark_oku: 4.83141682
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 5.33232654
2037_net_owner_FCFE_oku: 0.41592147
cost_of_equity: 0.1
perpetual_growth: 0.022
base_2027_fcfe_oku: 0.29
annual_owner_fcfe_growth: 0.035
book_to_intrinsic_difference_oku: 0.50090972

Tag Holding

内容を開く

2036_book_mark_oku: 3.52716754
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 2.63553068
2037_net_owner_FCFE_oku: 0.23719776
cost_of_equity: 0.115
perpetual_growth: 0.025
base_2027_fcfe_oku: 0.15
annual_owner_fcfe_growth: 0.045
book_to_intrinsic_difference_oku: -0.89163686

Lingotto LP interests

内容を開く

2036_book_mark_oku: 61.59175023
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 56.4756574
2037_net_owner_FCFE_oku: 3.95329602
cost_of_equity: 0.095
perpetual_growth: 0.025
base_2027_fcfe_oku: 2.5
annual_owner_fcfe_growth: 0.045
book_to_intrinsic_difference_oku: -5.11609283

Other assets incl bioMerieux

内容を開く

2036_book_mark_oku: 19.99933244
valuation_method: 2037_normalized_owner_FCFE_perpetuity
value_oku: 19.9496162
2037_net_owner_FCFE_oku: 1.63586853
cost_of_equity: 0.1
perpetual_growth: 0.018
base_2027_fcfe_oku: 1.26
annual_owner_fcfe_growth: 0.025
book_to_intrinsic_difference_oku: -0.04971624

New diversified investment 2027

内容を開く

2036_book_mark_oku: 6.39716491
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: 3.37268994
2037_net_owner_FCFE_oku: 0.33726592
cost_of_equity: 0.115
perpetual_growth: 0.02
value_oku: 3.55016755
book_to_intrinsic_difference_oku: -2.84699736

New diversified investment 2028

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2036_book_mark_oku: 5.96626871
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: 3.38193018
2037_net_owner_FCFE_oku: 0.32831981
cost_of_equity: 0.115
perpetual_growth: 0.02
value_oku: 3.45599803
book_to_intrinsic_difference_oku: -2.51027068

New diversified investment 2029

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2036_book_mark_oku: 5.53512741
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: 3.37268994
2037_net_owner_FCFE_oku: 0.31789261
cost_of_equity: 0.115
perpetual_growth: 0.02
value_oku: 3.34623801
book_to_intrinsic_difference_oku: -2.1888894

New diversified investment 2030

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2036_book_mark_oku: 5.14921061
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: 3.37268994
2037_net_owner_FCFE_oku: 0.30863985
cost_of_equity: 0.115
perpetual_growth: 0.02
value_oku: 3.24884049
book_to_intrinsic_difference_oku: -1.90037012

New diversified investment 2031

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2036_book_mark_oku: 2.48380765
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: 1.74880219
2037_net_owner_FCFE_oku: 0.15537739
cost_of_equity: 0.115
perpetual_growth: 0.02
value_oku: 1.6355515
book_to_intrinsic_difference_oku: -0.84825616

New diversified investment 2032

内容を開く

2036_book_mark_oku: 2.3165049
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: 1.75359343
2037_net_owner_FCFE_oku: 0.15125595
cost_of_equity: 0.115
perpetual_growth: 0.02
value_oku: 1.59216788
book_to_intrinsic_difference_oku: -0.72433702

New diversified investment 2033

内容を開く

2036_book_mark_oku: 2.14910699
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: 1.74880219
2037_net_owner_FCFE_oku: 0.14645217
cost_of_equity: 0.115
perpetual_growth: 0.02
value_oku: 1.54160177
book_to_intrinsic_difference_oku: -0.60750522

New diversified investment 2034

内容を開く

2036_book_mark_oku: 1.99926825
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: 1.74880219
2037_net_owner_FCFE_oku: 0.14218945
cost_of_equity: 0.115
perpetual_growth: 0.02
value_oku: 1.49673103
book_to_intrinsic_difference_oku: -0.50253723

New diversified investment 2035

内容を開く

2036_book_mark_oku: 1.85987649
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: 1.74880219
2037_net_owner_FCFE_oku: 0.1380508
cost_of_equity: 0.115
perpetual_growth: 0.02
value_oku: 1.45316632
book_to_intrinsic_difference_oku: -0.40671017

New diversified investment 2036

内容を開く

2036_book_mark_oku: 1.49007529
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: 1.49007529
2037_net_owner_FCFE_oku: 0.11419389
cost_of_equity: 0.115
perpetual_growth: 0.02
value_oku: 1.20204095
book_to_intrinsic_difference_oku: -0.28803434

holdco_fundamental_bridge_oku

内容を開く

investee_fundamental_value: 333.32950974
cash: 35.1937386
gross_holdco_debt: -35.52
other_liabilities: -0.68
overhead_cash_cost_perpetuity_reserve: -6.45975806
sbc_market_price_share_neutralization_cash_perpetuity_reserve: -6.33643108
2037_cash_opex_oku: 0.48448185
2037_equivalent_awards_per_year: 275000
2037_share_neutralization_assumed_intrinsic_market_price_eur: 172.81175668
SBC_neutralization_equity_feedback_coefficient: 0.019830655639
2037_award_share_neutralization_cost_oku: 0.47523233
sustainable_holdco_cost_of_equity: 0.095
sustainable_growth: 0.02
whole_company_net_equity_value_oku: 319.5270592
old_holder_equivalence_factor: 0.987112167062
old_holder_remaining_equity_value_oku: 315.40904784
2036_11_06_intrinsic_equity_price_per_outstanding_eur: 169.42329087
2037_company_cash_share_buyback_oku: 0.47523233
2037_old_cohort_pro_rata_tender_cash_oku: 0.46910762
2037_old_cohort_stock_remaining_after_tender_share_equivalents: 185894829.93013
2037_old_cohort_stock_value_after_anniversary_oku: 321.24812118
2037_award_shares_against_market_buyback: 275000
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: 325.86349028
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

615.30370078

book_NAV_not_identical_to_fundamental_equity_market_value

はい

remaining_issued_shares

193998534

remaining_treasury_shares

5401643

remaining_outstanding_shares

188596891

old_holder_remaining_shares_equivalent

186166285.77608

old_holder_fraction

0.987112167062

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

615.30370078

oldcohort_fraction_at_terminal

0.987112167062

2036_11_06_intrinsic_oldcohort_value_oku

315.40904784

post_2036_future_employee_shares_per_year

275000

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: 24.43976177
company_distribution_to_shareholders_owner_equivalent_oku: 23.96452944
company_share_neutralization_buyback_oku: 0.47523233
company_shares_repurchased: 275000
employee_treasury_shares_delivered: 275000
end_company_shares_outstanding: 188596891
buyback_execution_intrinsic_share_price_eur: 172.81175668
old_holder_shares_before: 186166285.77608
old_holder_shares_pro_rata_tendered: 271455.845942
old_holder_tender_cash_received_oku: 0.46910762
old_holder_owner_equivalent_dividend_oku: 23.65567859
old_holder_shares_remaining_after_delivery: 185894829.93013
old_holder_fraction_after_delivery: 0.985672822836
old_holder_equity_value_at_start_of_year_oku: 315.40904784
old_holder_equity_remaining_after_delivery_oku: 321.24812118
year_end_holder_cash_plus_stock_oku: 345.37290739
required_return_on_old_holder_starting_value_oku: 345.37290739
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: 24.92855701
company_distribution_to_shareholders_owner_equivalent_oku: 24.44382003
company_share_neutralization_buyback_oku: 0.48473698
company_shares_repurchased: 275000
employee_treasury_shares_delivered: 275000
end_company_shares_outstanding: 188596891
buyback_execution_intrinsic_share_price_eur: 176.26799182
old_holder_shares_before: 185894829.93013
old_holder_shares_pro_rata_tendered: 271060.02628
old_holder_tender_cash_received_oku: 0.47779206
old_holder_owner_equivalent_dividend_oku: 24.09360909
old_holder_shares_remaining_after_delivery: 185623769.90385
old_holder_fraction_after_delivery: 0.984235577371
old_holder_equity_value_at_start_of_year_oku: 321.24812118
old_holder_equity_remaining_after_delivery_oku: 327.19529154
year_end_holder_cash_plus_stock_oku: 351.7666927
required_return_on_old_holder_starting_value_oku: 351.7666927
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: 25.42712815
company_distribution_to_shareholders_owner_equivalent_oku: 24.93269643
company_share_neutralization_buyback_oku: 0.49443172
company_shares_repurchased: 275000
employee_treasury_shares_delivered: 275000
end_company_shares_outstanding: 188596891
buyback_execution_intrinsic_share_price_eur: 179.79335165
old_holder_shares_before: 185623769.90385
old_holder_shares_pro_rata_tendered: 270664.783777
old_holder_tender_cash_received_oku: 0.48663729
old_holder_owner_equivalent_dividend_oku: 24.53964687
old_holder_shares_remaining_after_delivery: 185353105.12008
old_holder_fraction_after_delivery: 0.982800427607
old_holder_equity_value_at_start_of_year_oku: 327.19529154
old_holder_equity_remaining_after_delivery_oku: 333.25256009
year_end_holder_cash_plus_stock_oku: 358.27884424
required_return_on_old_holder_starting_value_oku: 358.27884424
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: 25.93567071
company_distribution_to_shareholders_owner_equivalent_oku: 25.43135036
company_share_neutralization_buyback_oku: 0.50432035
company_shares_repurchased: 275000
employee_treasury_shares_delivered: 275000
end_company_shares_outstanding: 188596891
buyback_execution_intrinsic_share_price_eur: 183.38921869
old_holder_shares_before: 185353105.12008
old_holder_shares_pro_rata_tendered: 270270.117592
old_holder_tender_cash_received_oku: 0.49564626
old_holder_owner_equivalent_dividend_oku: 24.99394201
old_holder_shares_remaining_after_delivery: 185082835.00249
old_holder_fraction_after_delivery: 0.981367370486
old_holder_equity_value_at_start_of_year_oku: 333.25256009
old_holder_equity_remaining_after_delivery_oku: 339.42196503
year_end_holder_cash_plus_stock_oku: 364.9115533
required_return_on_old_holder_starting_value_oku: 364.9115533
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: 26.45438412
company_distribution_to_shareholders_owner_equivalent_oku: 25.93997737
company_share_neutralization_buyback_oku: 0.51440676
company_shares_repurchased: 275000
employee_treasury_shares_delivered: 275000
end_company_shares_outstanding: 188596891
buyback_execution_intrinsic_share_price_eur: 187.05700306
old_holder_shares_before: 185082835.00249
old_holder_shares_pro_rata_tendered: 269876.026884
old_holder_tender_cash_received_oku: 0.50482201
old_holder_owner_equivalent_dividend_oku: 25.45664738
old_holder_shares_remaining_after_delivery: 184812958.9756
old_holder_fraction_after_delivery: 0.979936402958
old_holder_equity_value_at_start_of_year_oku: 339.42196503
old_holder_equity_remaining_after_delivery_oku: 345.70558232
year_end_holder_cash_plus_stock_oku: 371.66705171
required_return_on_old_holder_starting_value_oku: 371.66705171
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: 26.98347181
company_distribution_to_shareholders_owner_equivalent_oku: 26.45877691
company_share_neutralization_buyback_oku: 0.52469489
company_shares_repurchased: 275000
employee_treasury_shares_delivered: 275000
end_company_shares_outstanding: 188596891
buyback_execution_intrinsic_share_price_eur: 190.79814312
old_holder_shares_before: 184812958.9756
old_holder_shares_pro_rata_tendered: 269482.510813
old_holder_tender_cash_received_oku: 0.51416763
old_holder_owner_equivalent_dividend_oku: 25.92791867
old_holder_shares_remaining_after_delivery: 184543476.46479
old_holder_fraction_after_delivery: 0.978507521976
old_holder_equity_value_at_start_of_year_oku: 345.70558232
old_holder_equity_remaining_after_delivery_oku: 352.10552634
year_end_holder_cash_plus_stock_oku: 378.54761265
required_return_on_old_holder_starting_value_oku: 378.54761265
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: 27.52314124
company_distribution_to_shareholders_owner_equivalent_oku: 26.98795245
company_share_neutralization_buyback_oku: 0.53518879
company_shares_repurchased: 275000
employee_treasury_shares_delivered: 275000
end_company_shares_outstanding: 188596891
buyback_execution_intrinsic_share_price_eur: 194.61410598
old_holder_shares_before: 184543476.46479
old_holder_shares_pro_rata_tendered: 269089.568543
old_holder_tender_cash_received_oku: 0.52368626
old_holder_owner_equivalent_dividend_oku: 26.40791448
old_holder_shares_remaining_after_delivery: 184274386.89625
old_holder_fraction_after_delivery: 0.977080724497
old_holder_equity_value_at_start_of_year_oku: 352.10552634
old_holder_equity_remaining_after_delivery_oku: 358.62395061
year_end_holder_cash_plus_stock_oku: 385.55555135
required_return_on_old_holder_starting_value_oku: 385.55555135
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: 28.07360407
company_distribution_to_shareholders_owner_equivalent_oku: 27.5277115
company_share_neutralization_buyback_oku: 0.54589257
company_shares_repurchased: 275000
employee_treasury_shares_delivered: 275000
end_company_shares_outstanding: 188596891
buyback_execution_intrinsic_share_price_eur: 198.5063881
old_holder_shares_before: 184274386.89625
old_holder_shares_pro_rata_tendered: 268697.199237
old_holder_tender_cash_received_oku: 0.53338111
old_holder_owner_equivalent_dividend_oku: 26.8967963
old_holder_shares_remaining_after_delivery: 184005689.69701
old_holder_fraction_after_delivery: 0.975656007484
old_holder_equity_value_at_start_of_year_oku: 358.62395061
old_holder_equity_remaining_after_delivery_oku: 365.26304852
year_end_holder_cash_plus_stock_oku: 392.69322592
required_return_on_old_holder_starting_value_oku: 392.69322592
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: 28.63507615
company_distribution_to_shareholders_owner_equivalent_oku: 28.07826573
company_share_neutralization_buyback_oku: 0.55681042
company_shares_repurchased: 275000
employee_treasury_shares_delivered: 275000
end_company_shares_outstanding: 188596891
buyback_execution_intrinsic_share_price_eur: 202.47651586
old_holder_shares_before: 184005689.69701
old_holder_shares_pro_rata_tendered: 268305.402058
old_holder_tender_cash_received_oku: 0.54325543
old_holder_owner_equivalent_dividend_oku: 27.39472864
old_holder_shares_remaining_after_delivery: 183737384.29495
old_holder_fraction_after_delivery: 0.974233367903
old_holder_equity_value_at_start_of_year_oku: 365.26304852
old_holder_equity_remaining_after_delivery_oku: 372.02505406
year_end_holder_cash_plus_stock_oku: 399.96303813
required_return_on_old_holder_starting_value_oku: 399.96303813
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: 29.20777767
company_distribution_to_shareholders_owner_equivalent_oku: 28.63983104
company_share_neutralization_buyback_oku: 0.56794663
company_shares_repurchased: 275000
employee_treasury_shares_delivered: 275000
end_company_shares_outstanding: 188596891
buyback_execution_intrinsic_share_price_eur: 206.52604618
old_holder_shares_before: 183737384.29495
old_holder_shares_pro_rata_tendered: 267914.176173
old_holder_tender_cash_received_oku: 0.55331256
old_holder_owner_equivalent_dividend_oku: 27.90187905
old_holder_shares_remaining_after_delivery: 183469470.11878
old_holder_fraction_after_delivery: 0.972812802724
old_holder_equity_value_at_start_of_year_oku: 372.02505406
old_holder_equity_remaining_after_delivery_oku: 378.91224259
year_end_holder_cash_plus_stock_oku: 407.3674342
required_return_on_old_holder_starting_value_oku: 407.3674342
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

162.51258243

ten_year_tail_PV_holder_residual_stock_oku

152.89646541

ten_year_tail_PV_total_oku

315.40904784

infinite_tail_PV_analytic_oku

315.40904784

cohort_valuation_identity_difference_oku

finite_10year_plus_remaining_cohort_identity_difference_oku

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

22.98685141

終価

315.40904784

pv_cashflow_oku_at_coc_k

15.6107831

pv_terminal_oku_at_coc_k

127.25621465

pv_oku_at_coc_k

142.86699775

npv_oku_at_coc_k

-4.34004146

irr

0.091495005555

equity_value_oku_per_start_share_at_coc

71.18745368

all_ledger_reconciliation_passed

はい

売上高

未確認

営業利益

未確認

純利益

32.9639064

equity_oku

615.30370078

期間内の親会社利益合計（億）

291.8016418

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: 333.32950974
cash: 35.1937386
gross_holdco_debt: -35.52
other_liabilities: -0.68
overhead_cash_cost_perpetuity_reserve: -6.45975806
sbc_market_price_share_neutralization_cash_perpetuity_reserve: -6.33643108
2037_cash_opex_oku: 0.48448185
2037_equivalent_awards_per_year: 275000
2037_share_neutralization_assumed_intrinsic_market_price_eur: 172.81175668
SBC_neutralization_equity_feedback_coefficient: 0.019830655639
2037_award_share_neutralization_cost_oku: 0.47523233
sustainable_holdco_cost_of_equity: 0.095
sustainable_growth: 0.02
whole_company_net_equity_value_oku: 319.5270592
old_holder_equivalence_factor: 0.987112167062
old_holder_remaining_equity_value_oku: 315.40904784
2036_11_06_intrinsic_equity_price_per_outstanding_eur: 169.42329087
2037_company_cash_share_buyback_oku: 0.47523233
2037_old_cohort_pro_rata_tender_cash_oku: 0.46910762
2037_old_cohort_stock_remaining_after_tender_share_equivalents: 185894829.93013
2037_old_cohort_stock_value_after_anniversary_oku: 321.24812118
2037_award_shares_against_market_buyback: 275000
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: 325.86349028
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).

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

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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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