Tractial S.A. (ALTRA.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

-1263.0%

-€16.84

vs €1.45 price

Levered DCF

-€27.37

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

1.39

Distress zone

Rating

D+

Overall 1 / 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	-32×	-22.5×	-2.56×	-8.91×	743.59×	-7.33×	3.69×	6.84×
P/B	12.61×	1.3×	1.73×	1.61×	8.78×	1.31×	1.39×	1.76×
P/S	4.24×	0.96×	1.66×	2.55×	15.08×	1.6×	0.47×	0.55×
EV / EBITDA	616.7×	46.96×	-2.46×	-4.37×	-50.44×	0.26×	-0.13×	-4.01×
Gross margin	63.1%	83.0%	77.5%	74.3%	69.9%	81.6%	93.3%	90.9%
Operating margin	-3.5%	-52.8%	-64.2%	-52.7%	-74.8%	-49.7%	16.3%	12.3%
Net margin	-13.7%	-4.3%	-64.7%	-28.1%	2.0%	-21.4%	12.9%	8.1%
Current ratio	2.55×	2.28×	1.29×	1.58×	2.1×	1.44×	1.28×	1.01×
Debt / equity	2.05×	0.64×	0.24×	0.2×	0.3×	0.36×	0.03×	0.07×
Interest coverage	-3.6×	-41.38×	-42.19×	-52.1×	-32.36×	-70.5×	17.4×	3.88×
Dividend yield	0.0%	0.4%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	-9.3%	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	-40.7%	-5.8%	-67.3%	-17.7%	1.2%	-17.5%	37.6%	25.7%
Return on invested capital	-3.1%	-33.0%	-51.4%	-20.2%	1.7%	-31.6%	39.2%	34.7%
Return on assets	-9.5%	-2.3%	-31.9%	-10.4%	0.6%	-6.7%	13.2%	4.0%
Free cash flow yield	2.9%	-48.5%	-47.4%	-18.8%	-10.3%	-37.2%	-93.6%	171.0%
Earnings yield	-3.2%	-4.4%	-39.0%	-11.0%	0.1%	-13.4%	27.2%	14.6%
Enterprise value	€18.5M	€2.9M	€2.7M	€3.6M	€19.6M	€47.3K	-€217.8K	-€3.8M
Net debt / EBITDA	-1.33×	8.13×	0.59×	1.71×	4.91×	-14.7×	-2.22×	-7.08×
Cash conversion cycle (days)	34	-156	-144	-56	18	-44	-84	-315