Rexel stock stays anchored by 2025 earnings and 2026 guidance

Rexel (ISIN FR0010451203) stock is anchored by EUR 19.3 billion in 2025 sales and EUR 1.05 billion in adjusted EBITA, with management guiding for 2026 adjusted EBITA margin of 6.1% to 6.3% and free cash flow of around EUR 600 million. Those figures frame the share before any fresh market catalyst is added.

EUR 19.3 billion sales

In 2025, Rexel reported revenue of EUR 19.3 billion, while adjusted EBITA reached EUR 1.05 billion, according to the company’s investor materials. The same set of results puts the adjusted EBITA margin at 5.5%, giving investors a clear reference point for the current valuation debate.

The comparison matters: Rexel’s 2026 guidance for adjusted EBITA margin of 6.1% to 6.3% implies a step up from the 5.5% achieved in 2025. Free cash flow guidance of around EUR 600 million for 2026 also sits against 2025 earnings power rather than a purely speculative outlook.

Margin guidance at 6.1% to 6.3%

For the market, the most relevant number is the spread between past execution and guided profitability. A move from 5.5% adjusted EBITA margin in 2025 to 6.1% to 6.3% in 2026 would leave Rexel with a tighter operating profile and more room for cash generation.

Rexel also reported that 2025 free cash flow amounted to EUR 581.6 million, a useful comparison with the 2026 target of around EUR 600 million. That puts the next year’s cash objective only slightly above the last reported level, which tends to reduce the room for disappointment if trading normalizes.

Investor focus shifts to cash

The balance sheet and capital return profile matter alongside earnings. Rexel said net debt stood at EUR 1.9 billion at year-end 2025, a figure that helps explain why free cash flow and margin delivery remain central to the equity story.

Revenue also rose to EUR 19.3 billion in 2025 from EUR 18.7 billion in 2024, a year-on-year increase of 3.2%. That comparison is modest, but it shows the business still expanded while maintaining profitability.

Rexel stock and cable distribution

Rexel’s main business remains electrical supplies distribution, including cable, lighting, and automation-related products. In practice, that makes earnings sensitive to industrial activity, renovation demand, and the pace of electrification spending.

The 2025 numbers show that the model still produced scale and cash, while the 2026 guidance points to a slightly better profitability profile. For investors, that combination matters more than any broad sector slogan.

Trading profile at a glance

Rexel stock trades on Euronext Paris under ticker RXL and sits in the industrial distribution segment. The shares closed the latest available trading session at EUR 25.80, giving the market a current reference point against the 2025 margin of 5.5% and the 2026 guidance range of 6.1% to 6.3%.