Groupe Bruxelles Lambert
Look-through NAV vs. the share price — the "basket" (sum of its stakes + private assets − net debt) against what the market pays for the holdco. The gap is the discount/premium; watch it widen and narrow. S&P 500 · GBLB.BR.
Discount
-28.9%
NAV / share
€112.11
Price
€79.7
z-score
0.32
Mark-to-mkt
46%
Cheap vs own history:85ᵗʰ percentile of its 3yr discount rangez -1.1 6mz +0.3 1yz +1.4 3y
NAV / share (basket) Share price€ per share
Discount / premium to NAV over time
Look-through basket · €16.6B NAV
| adidas ADS.DE | €2.2B | 13% | |
| Pernod Ricard RI.PA | €1.5B | 9% | |
| SGS SGSN.SW | €3.8B | 23% | |
| Other / private / cash (static, 2026-03) | €9.0B | net cash €0M | |
Frère/Desmarais holdco. Listed: adidas, Pernod Ricard, SGS. otherNAV = private (Webhelp/Concentrix, Sanoptis, Affidea) + Sienna PE.
Stake prices + FX live; net debt / private NAV / share counts are estimates — verify against the holdco's NAV statement. Not investment advice.