Fleury Michon S.A. (ALFLE.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

+853.2%

€222.10

vs €23.30 price

Levered DCF

€164.30

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.72

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	7.77×	2.4×	8.06×	31.55×	13.37×	-3.84×	-4.85×	11.42×
P/B	0.55×	0.6×	0.52×	0.49×	0.63×	0.79×	0.67×	0.7×
P/S	0.13×	0.15×	0.1×	0.1×	0.14×	0.16×	0.18×	0.23×
EV / EBITDA	2.3×	2.25×	2.9×	3.29×	4.11×	3.57×	26.74×	5.13×
Gross margin	46.2%	48.0%	47.3%	44.1%	50.6%	49.9%	46.7%	49.1%
Operating margin	1.5%	1.5%	1.8%	1.1%	1.4%	-0.5%	-3.5%	2.6%
Net margin	1.6%	5.9%	1.2%	0.3%	0.6%	-4.2%	-3.7%	2.0%
Current ratio	1.29×	1.34×	1.11×	1.07×	1.1×	1.08×	1.11×	1.32×
Debt / equity	1×	1.07×	1.52×	1.35×	1.63×	1.75×	1.2×	0.97×
Interest coverage	1.34×	1.17×	1.72×	2.16×	2.64×	-0.98×	-8.79×	7.53×
Dividend yield	7.6%	4.5%	6.0%	6.5%	4.3%	2.9%	3.8%	2.8%
Payout ratio	62.2%	11.3%	48.7%	206.6%	104.0%	-11.0%	-18.4%	32.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.7%	23.7%	6.5%	1.6%	2.6%	-20.6%	-13.7%	6.1%
Return on invested capital	2.6%	2.7%	2.8%	1.7%	1.5%	-0.8%	-4.4%	2.9%
Return on assets	2.1%	7.1%	1.6%	0.4%	0.6%	-4.7%	-4.2%	2.2%
Free cash flow yield	-14.8%	19.5%	51.0%	-18.1%	45.1%	37.6%	-8.6%	7.8%
Earnings yield	12.2%	39.7%	12.4%	3.2%	4.1%	-26.0%	-20.6%	8.8%
Enterprise value	€120.9M	€109.7M	€158.4M	€177.4M	€191.7M	€221.2M	€257.1M	€257.2M
Net debt / EBITDA	0.18×	-0.22×	1.38×	1.88×	2.01×	1.68×	12.62×	1.82×
Cash conversion cycle (days)	-9	-24	1	22	-2	20	14	34