Alantra Partners, S.A. (ALNT.MC) 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

+68.4%

€14.65

vs €8.70 price

Levered DCF

€16.62

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.11

Safe 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	15.85×	42.78×	64.92×	11.59×	10.55×	17.73×	14.71×	14.95×
P/B	1.09×	1.03×	1.15×	1.55×	2.06×	2.06×	2.78×	2.59×
P/S	1.52×	1.64×	1.79×	1.95×	1.82×	2.76×	2.75×	2.62×
EV / EBITDA	5.08×	31.84×	11.13×	5.1×	4.18×	9.17×	6.99×	6.63×
Gross margin	96.2%	100.0%	36.8%	48.2%	42.8%	44.2%	50.4%	53.9%
Operating margin	8.9%	0.7%	0.1%	18.9%	25.9%	19.3%	19.9%	29.3%
Net margin	9.6%	3.9%	2.8%	16.9%	17.2%	15.6%	18.7%	17.5%
Current ratio	1.91×	1.92×	2.35×	2.21×	1.73×	1.83×	1.86×	1.98×
Debt / equity	0×	0.04×	0.12×	0.11×	0.08×	0.05×	0.09×	0.03×
Interest coverage	0×	0×	0.51×	121.09×	376.14×	104.37×	170.92×	539.71×
Dividend yield	1.8%	1.0%	5.9%	7.2%	4.8%	3.2%	6.5%	6.2%
Payout ratio	28.3%	43.4%	381.9%	83.5%	50.9%	57.1%	95.4%	93.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.8%	2.5%	1.8%	13.4%	19.6%	11.7%	18.9%	17.3%
Return on invested capital	4.3%	0.2%	0.0%	8.4%	15.4%	8.9%	12.8%	19.9%
Return on assets	4.3%	1.6%	1.1%	7.5%	9.8%	7.1%	11.7%	10.9%
Free cash flow yield	11.7%	2.2%	-2.5%	-2.8%	22.5%	5.3%	9.2%	8.8%
Earnings yield	6.3%	2.4%	1.6%	8.6%	9.5%	5.7%	6.8%	6.7%
Enterprise value	€208.1M	€306.4M	€254.6M	€363.2M	€429.2M	€435.8M	€514.1M	€429.5M
Net debt / EBITDA	-2.76×	1.24×	-3.1×	-1.43×	-1.57×	-1.6×	-1.03×	-1.47×
Cash conversion cycle (days)	-527	136	49	54	43	22	37	70