Emova Group S.A. (ALEMV.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

+1807.1%

€11.35

vs €0.60 price

Levered DCF

€9.17

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.6

Distress zone

Rating

A-

Overall 4 / 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	4.38×	-0.82×	-2.63×	12.12×	103.4×	-89.29×	200.2×	23.35×
P/B	0.18×	0.39×	0.29×	0.28×	0.37×	0.25×	0.61×	0.9×
P/S	0.19×	0.3×	0.3×	0.3×	0.42×	0.36×	0.74×	1.28×
EV / EBITDA	2.66×	11.97×	4.32×	5.85×	8.74×	9.09×	23.57×	33.73×
Gross margin	70.8%	72.4%	70.3%	73.1%	71.1%	4.8%	67.4%	68.5%
Operating margin	11.3%	-38.7%	-3.9%	6.6%	1.9%	1.7%	4.3%	4.9%
Net margin	5.8%	-36.9%	-11.5%	2.5%	0.4%	-0.4%	0.2%	5.5%
Current ratio	0.78×	0.41×	0.67×	0.75×	0.68×	0.71×	0.55×	0.52×
Debt / equity	0.57×	1.01×	0.72×	0.7×	0.49×	0.47×	0.33×	0.32×
Interest coverage	2.1×	-6.34×	-0.86×	2.34×	1.41×	1.73×	5.8×	8.08×
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	5.5%	-47.8%	-10.9%	2.3%	0.4%	-0.3%	0.2%	3.9%
Return on invested capital	5.5%	-18.1%	-1.9%	2.8%	0.8%	-0.2%	0.7%	1.2%
Return on assets	2.3%	-14.9%	-4.5%	1.0%	0.2%	-0.1%	0.1%	2.0%
Free cash flow yield	80.0%	43.5%	28.7%	9.0%	29.1%	-50.3%	-0.9%	-1.2%
Earnings yield	30.1%	-122.5%	-37.8%	8.2%	1.0%	-1.1%	0.3%	4.3%
Enterprise value	€20.9M	€30M	€31.4M	€33.1M	€29.1M	€23.7M	€29.4M	€38.1M
Net debt / EBITDA	1.97×	8.6×	3.07×	4.14×	4.95×	5.9×	8.2×	8.55×
Cash conversion cycle (days)	-148	-142	6	-141	-190	-28	-320	-296