Logic Instrument S.A. (ALLOG.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

-1776.7%

-€28.24

vs €1.68 price

Levered DCF

-€1.23

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.89

Grey zone

Rating

B-

Overall 3 / 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	16.45×	6.41×	8.32×	114.62×	-3.58×	-39.53×	289.17×	9.93×
P/B	1.84×	1.27×	1.02×	0.59×	0.67×	0.81×	1.08×	0.94×
P/S	0.51×	0.29×	0.32×	0.27×	0.38×	0.49×	0.5×	0.46×
EV / EBITDA	14.12×	4.87×	5.93×	-2.28×	-0.62×	-8.47×	22.3×	4.01×
Gross margin	5.9%	18.8%	18.7%	16.8%	13.9%	21.8%	16.8%	21.4%
Operating margin	2.9%	6.1%	4.5%	-1.9%	30.7%	-1.8%	1.1%	4.5%
Net margin	3.2%	4.4%	3.9%	0.2%	-10.7%	-1.2%	0.2%	4.6%
Current ratio	1.85×	1.49×	2.26×	3.5×	4.72×	2.77×	4.1×	2.66×
Debt / equity	0.48×	0.98×	0.96×	0.26×	0.56×	0.29×	0.08×	0.09×
Interest coverage	5.75×	8.2×	14.9×	-13.68×	242.1×	-98.52×	5.33×	74.04×
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	11.3%	19.3%	12.2%	0.5%	-18.7%	-2.0%	0.4%	9.5%
Return on invested capital	7.0%	12.7%	6.3%	-3.2%	32.4%	-2.3%	0.5%	8.4%
Return on assets	4.4%	8.2%	4.0%	0.3%	-11.1%	-1.3%	0.3%	5.6%
Free cash flow yield	10.3%	25.5%	-10.8%	-30.5%	-7.3%	36.3%	-8.1%	23.2%
Earnings yield	6.2%	15.1%	12.0%	0.9%	-27.9%	-2.5%	0.3%	10.1%
Enterprise value	€16.6M	€9.1M	€5.6M	-€124.8K	€387.6K	€455.7K	€3.7M	€2.5M
Net debt / EBITDA	-2.77×	0.5×	0.37×	-51.7×	4.25×	73.54×	-14.22×	-4.23×
Cash conversion cycle (days)	70	65	157	98	86	102	109	153