AdVini S.A. (ALAVI.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

+944.2%

€158.72

vs €15.20 price

Levered DCF

€172.81

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.55

Distress zone

Rating

B-

Overall 3 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	221.3×	191.29×	-4.14×	24.1×	18.19×	-20.19×	30.47×	28.37×
P/B	0.7×	0.65×	0.79×	0.75×	0.78×	0.94×	0×	0×
P/S	0.19×	0.17×	0.2×	0.24×	0.26×	0.33×	0.38×	0.41×
EV / EBITDA	10.46×	9.58×	17.06×	11.94×	10.32×	19.29×	6×	0×
Gross margin	5.6%	36.0%	35.5%	34.5%	34.6%	35.0%	37.4%	37.0%
Operating margin	3.5%	3.3%	-2.1%	2.7%	3.1%	-0.3%	2.3%	2.0%
Net margin	0.1%	0.1%	-4.9%	1.0%	1.4%	-1.6%	1.2%	1.4%
Current ratio	0.62×	0.87×	0.95×	1.1×	1.09×	1.05×	0×	0×
Debt / equity	2.52×	2.67×	2.85×	2.1×	2×	2.25×	0×	0×
Interest coverage	1.17×	0.89×	-0.73×	2.09×	2.44×	-0.43×	2.71×	2.68×
Dividend yield	0.0%	0.0%	2.3%	2.7%	0.0%	0.0%	1.3%	1.5%
Payout ratio	0.0%	0.0%	-9.5%	64.3%	0.0%	0.0%	39.2%	41.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.3%	0.3%	-19.2%	3.1%	4.3%	-4.7%	0.0%	0.0%
Return on invested capital	0.5%	-1.1%	-2.0%	1.9%	2.5%	-0.3%	5.2%	0.0%
Return on assets	0.1%	0.1%	-3.7%	0.7%	1.0%	-1.1%	0.0%	0.0%
Free cash flow yield	22.2%	56.5%	-15.9%	16.9%	24.4%	3.4%	0.0%	0.0%
Earnings yield	0.5%	0.5%	-24.2%	4.1%	5.5%	-5.0%	3.3%	3.5%
Enterprise value	€216.8M	€221M	€252M	€243.7M	€236.8M	€252.6M	€100.8M	€0
Net debt / EBITDA	8.05×	7.56×	13.13×	8.42×	7.12×	13.01×	0×	0×
Cash conversion cycle (days)	96	139	164	142	151	186	-93	0