Lexibook - Linguistic Electronic System S.A. (ALLEX.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

+70.2%

€13.45

vs €7.90 price

Levered DCF

€28.67

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

5.51

Safe zone

Rating

S-

Overall 5 / 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	5.34×	5.21×	5.31×	5.72×	9.35×	10.05×	-47.64×	-4.95×
P/B	1.24×	1.57×	1.55×	1.45×	3.88×	3.02×	1.47×	2.34×
P/S	0.48×	0.52×	0.45×	0.34×	0.77×	0.57×	0.23×	0.25×
EV / EBITDA	2.39×	3.26×	3.36×	4.49×	7.62×	5.03×	6.02×	18.6×
Gross margin	21.6%	51.5%	59.9%	14.8%	18.5%	12.8%	5.8%	47.5%
Operating margin	10.5%	10.9%	10.2%	8.3%	9.6%	8.2%	0.5%	-3.9%
Net margin	8.9%	10.0%	8.5%	5.9%	8.3%	5.8%	-0.5%	-5.1%
Current ratio	3.09×	2.55×	2.32×	2.1×	1.66×	1.95×	1.45×	1.09×
Debt / equity	0.14×	0.26×	0.42×	0.79×	1.04×	1.32×	1.63×	4.06×
Interest coverage	32.06×	21.57×	31.92×	9.18×	12.18×	6.5×	0.26×	-1.84×
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	23.2%	30.2%	29.4%	25.5%	41.7%	30.5%	-3.1%	-47.7%
Return on invested capital	19.1%	22.6%	20.8%	18.0%	23.0%	17.9%	1.0%	-7.2%
Return on assets	14.2%	16.7%	14.4%	10.0%	13.4%	9.4%	-0.8%	-6.0%
Free cash flow yield	18.7%	14.4%	33.8%	2.6%	-7.1%	14.2%	53.2%	-32.1%
Earnings yield	18.7%	19.2%	18.9%	17.6%	10.7%	10.1%	-2.1%	-20.4%
Enterprise value	€25M	€32.1M	€24.9M	€24.3M	€41.7M	€19M	€10.5M	€14.5M
Net debt / EBITDA	-1.26×	-0.64×	-0.19×	1.29×	1.26×	0.89×	2.98×	11.68×
Cash conversion cycle (days)	85	121	149	138	126	82	120	166