Stradim Espace Finances S.A. (ALSAS.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

+3075.7%

€113.69

vs €3.58 price

Levered DCF

€0.61

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.17

Distress zone

Rating

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	9.55×	10.93×	6.26×	6.32×	6.59×	7.11×	9.21×	9.71×
P/B	0.42×	0.55×	0.63×	0.77×	0.84×	0.73×	0.97×	1.01×
P/S	0.14×	0.17×	0.16×	0.16×	0.18×	0.2×	0.27×	0.31×
EV / EBITDA	9.97×	16.78×	8.85×	7.11×	10.98×	10.9×	12.49×	18.21×
Gross margin	11.4%	9.8%	18.0%	29.7%	12.2%	18.4%	19.8%	18.7%
Operating margin	5.3%	2.8%	4.0%	4.0%	3.6%	2.9%	6.5%	3.4%
Net margin	1.5%	1.8%	2.6%	2.5%	2.8%	2.7%	3.0%	3.2%
Current ratio	1.73×	1.73×	1.7×	1.6×	1.83×	1.64×	3.53×	3.31×
Debt / equity	1.73×	1.65×	1.94×	2.01×	2.53×	2.47×	2.37×	2.24×
Interest coverage	1.72×	1.23×	2.62×	32×	11.64×	11.55×	32.94×	17.41×
Dividend yield	1.9%	3.1%	5.9%	5.1%	4.7%	0.0%	3.9%	4.0%
Payout ratio	18.2%	28.7%	37.0%	32.5%	31.0%	0.0%	35.4%	38.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.5%	5.9%	10.0%	12.1%	12.8%	10.3%	10.6%	10.4%
Return on invested capital	4.1%	2.3%	3.7%	4.5%	3.1%	2.0%	2.6%	1.2%
Return on assets	0.7%	0.9%	1.4%	1.4%	1.6%	1.2%	1.3%	1.3%
Free cash flow yield	-55.4%	36.9%	-13.5%	87.7%	-25.6%	-28.5%	-21.5%	-96.2%
Earnings yield	10.6%	10.6%	15.9%	15.8%	15.2%	14.0%	10.9%	10.3%
Enterprise value	€62.2M	€58.1M	€65.9M	€64.8M	€87.2M	€73.3M	€71.4M	€67.8M
Net debt / EBITDA	7.39×	10.92×	5.87×	4.32×	7.76×	7.88×	8.28×	11.93×
Cash conversion cycle (days)	592	494	475	532	553	668	631	647