Appendix 8
Distribution of Debt Relative to the Rate of Recovery (CAC 40)
| Company | B&S growth potential | Recovery rate | D/EV | t | B/EV | Φ(-d2) |
| Accor S.A. | 9% | 19% | 3% | 3.4 | 1% | 1% |
| Air Liquide S.A. | 4% | 17% | 15% | 4.7 | 13% | 0% |
| Alstrom S.A. | 18% | 24% | 10% | 4.5 | 6% | 9% |
| ArcelorMittal S.A. | 7% | 38% | 50% | 6.3 | 40% | 22% |
| Bouygues S.A. | 39% | 38% | 33% | 7.3 | 21% | 22% |
| Carrefour S.A. | 2% | 38% | 34% | 5.3 | 25% | 20% |
| Compagnie St-Gobain | 6% | 31% | 33% | 5.8 | 27% | 12% |
| Danone S.A. | -2% | 19% | 18% | 4.9 | 15% | 0% |
| Electricité de France S.A. | 64% | 49% | 49% | 7.9 | 35% | 22% |
| Essilor International S.A. | 50% | 51% | 59% | 9.0 | 42% | 23% |
| France Telecom | 59% | 43% | 47% | 11.2 | 29% | 20% |
| GDF Suez S.A. | 5% | 43% | 49% | 5.9 | 39% | 19% |
| Gemalto N.V. | -1% | 12% | 12% | 8.3 | 10% | 0% |
| Lafarge S.A. | -1% | 8% | 7% | 6.3 | 6% | 0% |
| LeGrand S.A. | 5% | 18% | 13% | 6.8 | 9% | 5% |
| LVMH | -2% | 24% | 27% | 5.7 | 24% | 0% |
| Michelin | -8% | 17% | 15% | 3.6 | 13% | 0% |
| Pernod Ricard S.A. | -2% | 20% | 1% | 2.8 | 0% | 0% |
| PPR S.A. | 0% | 14% | 7% | 3.4 | 5% | 0% |
| Publicis Groupe S.A. | -3% | 12% | 11% | 4.6 | 9% | 0% |
| Safran S.A. | -4% | 15% | 15% | 6.2 | 12% | 4% |
| Sanofi S.A. | 19% | 22% | 14% | 6.3 | 9% | 10% |
| Schneider Electric S.A. | 6% | 25% | 14% | 4.4 | 12% | 0% |
| Solvay S.A. | 20% | 29% | 34% | 4.5 | 30% | 0% |
| Total S.A. | 9% | 20% | 18% | 5.5 | 13% | 12% |
| Unibail-Rodamco SE | 80% | 73% | 83% | 7.4 | 52% | 56% |
| Vallourec S.A. | 27% | 37% | 37% | 9.2 | 23% | 21% |
| Veolia Environnement S.A. | 16% | 35% | 35% | 4.6 | 30% | 5% |
| Vinci S.A. | 9% | 19% | 3% | 3.4 | 1% | 1% |
| Viviendi | 4% | 17% | 15% | 4.7 | 13% | 0% |
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