Atari S.A. (ALATA.PA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-7354.2%

-€1,108.43

vs €15.28 price

Levered DCF

-€1,489.67

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

-0.5

Distress zone

Rating

D+

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-14.86×	-4.5×	-4.08×	-4.68×	-2.29×	-20.05×	29.6×	29.9×
P/B	17.5×	-29.29×	8.08×	5.69×	12.4×	9.86×	2.38×	3.63×
P/S	1.06×	1.67×	2.67×	4.39×	3.66×	12.63×	2.82×	3.93×
EV / EBITDA	15.31×	9.59×	98.45×	-16.77×	-3.16×	264.49×	8.15×	11.1×
Gross margin	49.8%	73.5%	5.3%	24.8%	53.0%	4.2%	66.3%	65.5%
Operating margin	-12.0%	-11.6%	-7.8%	-71.3%	-154.4%	-20.6%	12.5%	15.0%
Net margin	-7.1%	-37.5%	-65.5%	-94.1%	-159.7%	-63.0%	9.6%	13.1%
Current ratio	0.27×	0.72×	0.72×	0.9×	0.51×	0.65×	0.49×	1.28×
Debt / equity	21.26×	-28.27×	6.78×	1.19×	1.55×	0.08×	0.12×	0.03×
Interest coverage	-0.99×	-0.75×	-2.29×	-36×	-115×	-39×	15×	7.75×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-117.6%	659.7%	-198.5%	-121.8%	-540.9%	-49.2%	8.1%	12.1%
Return on invested capital	-4.3%	-5.9%	-2.3%	-40.2%	-178.3%	-14.6%	8.9%	14.3%
Return on assets	-3.8%	-16.3%	-17.3%	-37.7%	-91.5%	-29.5%	5.3%	8.1%
Free cash flow yield	17.3%	-14.5%	-38.6%	-31.8%	-18.3%	-3.9%	-12.5%	-3.1%
Earnings yield	-6.7%	-22.5%	-24.6%	-21.4%	-43.6%	-5.0%	3.4%	3.3%
Enterprise value	€127.1M	€106.4M	€98.5M	€52M	€60.8M	€238M	€69.3M	€73.2M
Net debt / EBITDA	8.14×	4.55×	43.5×	-2.45×	-0.32×	-0.67×	0.18×	-1.18×
Cash conversion cycle (days)	-71	-164	5	6	-259	-35	-187	-207