Gascogne S.A. (ALBI.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

-933.3%

-€16.67

vs €2.00 price

Levered DCF

-€23.01

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-0.34

Distress zone

Rating

D+

Overall 1 / 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	-8.36×	-116.1×	9.1×	4.81×	7.06×	11.76×	9.2×	10.43×
P/B	0.42×	0.32×	0.46×	0.59×	0.62×	0.74×	0.73×	0.86×
P/S	0.21×	0.18×	0.21×	0.24×	0.23×	0.27×	0.23×	0.24×
EV / EBITDA	17.45×	7.53×	5.98×	4.13×	5.87×	6.43×	7.36×	9.59×
Gross margin	0.0%	51.0%	48.9%	51.8%	4.7%	6.1%	4.4%	5.5%
Operating margin	-1.4%	1.1%	4.0%	6.2%	4.2%	3.7%	3.0%	3.6%
Net margin	-2.6%	-0.2%	2.4%	4.9%	3.2%	2.3%	2.5%	2.3%
Current ratio	1.31×	1.79×	1.47×	1.38×	1.15×	1.51×	1.45×	1.37×
Debt / equity	1.24×	1.18×	0.93×	0.75×	0.87×	1.11×	1.06×	1.11×
Interest coverage	-1.08×	0.87×	2.88×	8.4×	4.24×	3.38×	3.12×	4.57×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-5.0%	-0.3%	5.0%	12.2%	8.8%	6.3%	7.9%	8.3%
Return on invested capital	-1.1%	0.8%	3.6%	7.4%	5.0%	4.2%	4.0%	5.5%
Return on assets	-1.6%	-0.1%	1.8%	4.8%	3.2%	2.1%	2.6%	2.7%
Free cash flow yield	-73.4%	-61.5%	-54.3%	-7.5%	10.3%	8.4%	-9.9%	-16.3%
Earnings yield	-12.0%	-0.9%	10.9%	20.7%	14.2%	8.5%	10.9%	9.6%
Enterprise value	€302.3M	€218.4M	€220.6M	€214.2M	€188.6M	€204.6M	€202.1M	€212.3M
Net debt / EBITDA	12.51×	5.13×	3.58×	2.04×	3.04×	3.38×	4.11×	5.17×
Cash conversion cycle (days)	63	179	181	167	114	134	124	121