Freelance.com S.A. (ALFRE.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

+308.9%

€8.59

vs €2.10 price

Levered DCF

€6.58

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.34

Grey 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	5.46×	9.38×	14.88×	20.88×	33.96×	18.43×	16.75×	16×
P/B	0.69×	1.02×	1.41×	2.72×	2.88×	3.23×	2.44×	2.12×
P/S	0.12×	0.16×	0.25×	0.47×	0.67×	0.47×	0.41×	0.38×
EV / EBITDA	5.11×	5.93×	8.22×	14.99×	25.79×	13.18×	10.12×	10.44×
Gross margin	3.1%	3.8%	3.9%	5.5%	5.7%	4.0%	10.9%	12.6%
Operating margin	2.2%	2.7%	3.0%	3.1%	2.7%	2.7%	3.3%	3.1%
Net margin	2.2%	1.7%	1.7%	2.3%	2.0%	2.5%	2.5%	2.4%
Current ratio	1.26×	1.15×	1.33×	1.18×	1.16×	1.27×	1.44×	1.57×
Debt / equity	0.61×	0.77×	0.89×	0.8×	0.99×	0.81×	0.29×	0.34×
Interest coverage	4.85×	5.27×	7.19×	10.02×	16.05×	17.56×	17.86×	9.91×
Dividend yield	3.7%	2.7%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	20.1%	25.6%	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	12.6%	10.8%	9.5%	13.1%	8.5%	17.3%	14.9%	13.3%
Return on invested capital	6.6%	7.5%	6.9%	8.1%	4.9%	9.5%	9.8%	7.1%
Return on assets	4.3%	3.2%	2.8%	3.9%	2.4%	4.0%	4.5%	4.0%
Free cash flow yield	3.8%	11.0%	10.7%	6.3%	2.6%	5.2%	6.0%	-2.2%
Earnings yield	18.3%	10.6%	6.7%	4.8%	2.9%	5.4%	6.1%	6.3%
Enterprise value	€146.1M	€199.7M	€264.4M	€403.6M	€383M	€142.7M	€82.1M	€62.7M
Net debt / EBITDA	0.64×	0.87×	1.5×	1.06×	3.22×	-1.07×	-1.8×	-1.4×
Cash conversion cycle (days)	33	23	18	29	44	57	24	-71