STIF S.a. (ALSTI.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

-39.8%

€11.28

vs €18.75 price

Levered DCF

€0.12

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.63

Grey 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
P/E	23.35×	10.19×	13.53×	20.82×	23.6×
P/B	9.42×	4.39×	1.96×	7.92×	9.88×
P/S	3.18×	1.61×	0.73×	1.16×	1.35×
EV / EBITDA	15.34×	6.48×	7.03×	11.51×	11.5×
Gross margin	33.1%	64.7%	59.4%	50.9%	51.9%
Operating margin	19.5%	21.9%	31.5%	8.2%	9.1%
Net margin	13.0%	15.8%	5.4%	5.5%	5.8%
Current ratio	1.75×	1.9×	2.22×	2.1×	1.62×
Debt / equity	1.41×	0.51×	0.47×	1.75×	1.31×
Interest coverage	9.78×	27.13×	34.23×	21.05×	27.69×
Dividend yield	1.1%	0.7%	3.0%	1.9%	1.8%
Payout ratio	25.8%	7.3%	40.0%	40.8%	42.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	38.5%	43.1%	14.6%	37.7%	42.2%
Return on invested capital	18.3%	28.0%	44.1%	16.0%	19.9%
Return on assets	12.6%	18.9%	6.8%	9.9%	10.7%
Free cash flow yield	1.3%	0.0%	-3.7%	-1.9%	3.2%
Earnings yield	4.1%	9.8%	7.5%	4.8%	4.3%
Enterprise value	€314.4M	€97.2M	€31.4M	€42M	€38.9M
Net debt / EBITDA	1.31×	-0.11×	1.03×	1.66×	0.85×
Cash conversion cycle (days)	110	106	93	80	81