Installux S.A. (ALLUX.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

+377.8%

€2,350.77

vs €492.00 price

Levered DCF

€2,702.91

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

4.24

Safe 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	11.52×	11.54×	11.42×	15.42×	13.51×	27.33×	11.84×	11.71×
P/B	0.69×	0.81×	0.65×	0.92×	1.07×	0.99×	1.05×	0.98×
P/S	0.53×	0.66×	0.5×	0.62×	0.82×	0.87×	0.77×	0.75×
EV / EBITDA	3.04×	3.8×	3.36×	5.35×	4.37×	6.52×	4.91×	3.46×
Gross margin	6.7%	52.2%	49.5%	45.1%	53.1%	52.2%	51.0%	51.3%
Operating margin	6.0%	6.9%	5.6%	5.4%	8.4%	5.0%	9.2%	8.9%
Net margin	4.6%	5.7%	4.4%	4.0%	6.1%	3.2%	6.5%	6.4%
Current ratio	3.4×	3.04×	3.26×	3.3×	3.09×	3.26×	3.27×	4.03×
Debt / equity	0.26×	0.29×	0.29×	0.21×	0.18×	0.21×	0.23×	0.04×
Interest coverage	12.76×	10.94×	12.74×	56.08×	80.77×	32.21×	57.82×	1,124.6×
Dividend yield	2.6%	2.3%	3.0%	2.2%	2.0%	0.0%	1.8%	2.2%
Payout ratio	29.7%	26.5%	34.4%	34.3%	26.8%	0.0%	21.8%	26.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.0%	7.0%	5.7%	6.0%	7.9%	3.6%	8.9%	8.4%
Return on invested capital	4.4%	4.8%	4.1%	4.7%	6.7%	3.3%	7.3%	7.7%
Return on assets	4.1%	4.6%	3.8%	4.2%	5.6%	2.5%	6.1%	6.6%
Free cash flow yield	14.5%	17.2%	23.5%	-4.6%	19.1%	5.6%	-2.7%	4.5%
Earnings yield	8.7%	8.7%	8.8%	6.5%	7.4%	3.7%	8.4%	8.5%
Enterprise value	€57.5M	€77.5M	€56.7M	€89.1M	€85.5M	€89M	€97.9M	€53.5M
Net debt / EBITDA	-1.55×	-0.98×	-1.05×	-0.74×	-1.46×	-0.72×	-0.25×	-2.66×
Cash conversion cycle (days)	106	151	147	160	127	199	179	121