S.A. Catana Group (ALCAT.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

+125.0%

€3.42

vs €1.52 price

Levered DCF

€11.36

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.34

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	8.46×	5.05×	11.42×	11.66×	12.87×	13.59×	8.93×	27.17×
P/B	0.99×	1.61×	3.04×	3.16×	3.6×	1.96×	2.7×	4.18×
P/S	0.57×	0.65×	1.07×	1.26×	1.78×	0.85×	1.06×	1.78×
EV / EBITDA	4.91×	2.96×	5.58×	4.97×	8.59×	6.08×	6.59×	16.04×
Gross margin	10.3%	56.7%	54.1%	56.8%	59.7%	8.9%	57.8%	52.6%
Operating margin	9.4%	16.3%	12.3%	16.1%	13.8%	7.6%	10.0%	5.5%
Net margin	6.7%	12.9%	9.3%	10.7%	13.9%	6.3%	11.6%	6.4%
Current ratio	1.91×	1.75×	1.55×	1.53×	2.02×	2.07×	1.49×	1.59×
Debt / equity	0.6×	0.48×	0.35×	0.41×	0.55×	0.81×	0.19×	0.19×
Interest coverage	82.5×	27.74×	63.03×	71.28×	49.12×	36.36×	86.72×	22.33×
Dividend yield	5.1%	3.0%	2.0%	2.1%	0.0%	0.0%	0.0%	0.0%
Payout ratio	43.5%	15.1%	23.2%	25.1%	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	11.7%	31.7%	26.6%	26.9%	28.1%	14.5%	29.7%	14.9%
Return on invested capital	6.8%	18.6%	18.0%	20.1%	17.4%	8.1%	23.7%	11.7%
Return on assets	5.1%	13.1%	9.2%	9.0%	12.4%	5.3%	13.8%	6.9%
Free cash flow yield	-13.6%	-7.9%	1.1%	17.3%	6.9%	2.1%	5.3%	1.4%
Earnings yield	11.8%	19.8%	8.8%	8.5%	7.8%	7.4%	11.0%	3.6%
Enterprise value	€118.3M	€144.9M	€183.3M	€144.1M	€162.9M	€64.6M	€75.4M	€93.7M
Net debt / EBITDA	0.75×	-0.11×	-1.15×	-1.47×	-0.96×	-0.54×	-0.55×	-0.55×
Cash conversion cycle (days)	167	239	242	216	193	84	67	126