Exacompta Clairefontaine S.A. (ALEXA.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

+1006.0%

€1,636.83

vs €148.00 price

Levered DCF

€2,063.32

After debt service

Piotroski score

9 / 9

Strong

Altman Z-score

1.67

Distress zone

Rating

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	8.84×	5×	4.59×	4.98×	5.17×	8.73×	7.63×	9.07×
P/B	0.35×	0.29×	0.39×	0.29×	0.24×	0.25×	0.31×	0.28×
P/S	0.24×	0.19×	0.23×	0.16×	0.15×	0.16×	0.18×	0.19×
EV / EBITDA	2.1×	1.75×	2.05×	2.77×	2.36×	3.09×	3.26×	2.64×
Gross margin	4.3%	50.9%	51.8%	49.7%	52.1%	53.5%	50.4%	51.4%
Operating margin	2.1%	5.4%	13.5%	4.9%	4.2%	2.1%	3.4%	2.5%
Net margin	2.7%	3.8%	5.1%	3.2%	2.8%	1.8%	2.4%	2.1%
Current ratio	3.14×	2.74×	2.51×	2.26×	2.13×	2.23×	2.28×	2.75×
Debt / equity	0.33×	0.39×	0.41×	0.48×	0.59×	0.69×	0.62×	0.29×
Interest coverage	4.07×	10.38×	31.25×	20.98×	20.37×	9.53×	12.24×	12.57×
Dividend yield	4.4%	4.8%	2.5%	3.1%	3.2%	3.2%	11.4%	10.0%
Payout ratio	39.3%	24.1%	11.5%	15.4%	16.4%	27.6%	86.9%	91.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	3.9%	5.9%	8.4%	5.7%	4.7%	2.9%	4.1%	3.1%
Return on invested capital	1.7%	4.2%	11.3%	3.9%	2.9%	1.7%	2.5%	2.3%
Return on assets	2.4%	3.3%	4.6%	3.0%	2.3%	1.4%	2.0%	1.8%
Free cash flow yield	20.1%	24.5%	37.1%	-5.7%	34.2%	16.5%	12.0%	-14.2%
Earnings yield	11.3%	20.0%	21.8%	20.1%	19.3%	11.5%	13.1%	11.0%
Enterprise value	€188.5M	€177.1M	€239.6M	€240.6M	€178.2M	€197M	€209.9M	€116.2M
Net debt / EBITDA	-0.03×	0.2×	0.36×	1.22×	0.94×	1.4×	1.24×	0.07×
Cash conversion cycle (days)	138	216	231	235	209	228	198	231