Les Hôtels Baverez S.A. (ALLHB.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

-10.7%

€61.65

vs €69.00 price

Levered DCF

€34.73

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.53

Safe zone

Rating

C+

Overall 2 / 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	79.89×	40×	16.2×	20.13×	209.62×	-11.93×	185.29×	48.88×
P/B	3.59×	3.62×	3.16×	3.98×	4.51×	4.22×	3.93×	4.12×
P/S	5.62×	3.98×	3.18×	3.67×	9.71×	22.97×	4.69×	4.84×
EV / EBITDA	29.77×	13.04×	8.71×	11.16×	30.31×	-20.42×	31.82×	27.74×
Gross margin	13.7%	68.6%	71.3%	25.1%	-28.2%	-175.8%	7.7%	10.4%
Operating margin	8.7%	16.1%	21.9%	22.2%	-30.6%	-188.9%	3.0%	7.1%
Net margin	7.0%	10.0%	19.6%	18.2%	4.6%	-192.5%	2.5%	9.9%
Current ratio	2.89×	2.9×	3.35×	3.01×	4.91×	3.27×	1.78×	1.69×
Debt / equity	0.38×	0.33×	0.36×	0.56×	0.76×	0.68×	0.23×	0.26×
Interest coverage	5.71×	22.27×	30.2×	25.04×	-13.38×	-50.8×	5.17×	10.89×
Dividend yield	0.4%	0.4%	0.5%	0.0%	0.0%	0.0%	0.3%	0.2%
Payout ratio	32.6%	16.7%	7.8%	0.0%	0.0%	0.0%	65.6%	11.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.5%	9.1%	19.5%	19.7%	2.1%	-35.4%	2.1%	8.4%
Return on invested capital	3.0%	8.5%	13.0%	13.0%	-7.6%	-18.6%	2.0%	4.9%
Return on assets	2.9%	5.8%	11.8%	10.9%	1.1%	-19.0%	1.5%	5.7%
Free cash flow yield	-7.2%	0.9%	8.3%	8.9%	1.1%	-8.8%	1.6%	1.2%
Earnings yield	1.3%	2.5%	6.2%	5.0%	0.5%	-8.4%	0.5%	2.0%
Enterprise value	€164.8M	€148.9M	€116.6M	€132M	€131.4M	€127.2M	€147.9M	€154.6M
Net debt / EBITDA	-1.73×	-1.92×	-1.57×	-0.88×	0.48×	-1.38×	-0.34×	-0.14×
Cash conversion cycle (days)	-1	-48	-24	-3	7	97	-1	17