Société BIC S.A. (BB.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

+142.3%

€153.35

vs €63.30 price

Levered DCF

€145.62

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

3.7

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	24.64×	12.51×	11.86×	14.15×	6.74×	22.24×	15.86×	23.46×
P/B	1.27×	1.48×	1.45×	1.51×	1.23×	1.43×	1.74×	2.48×
P/S	1.01×	1.21×	1.19×	1.26×	1.16×	1.28×	1.43×	2.08×
EV / EBITDA	7.27×	5.96×	5.36×	6.26×	3.11×	7.03×	7.2×	10.61×
Gross margin	48.8%	50.2%	50.7%	48.3%	50.8%	48.1%	50.1%	52.0%
Operating margin	12.8%	13.2%	14.3%	13.6%	24.7%	11.4%	13.0%	13.3%
Net margin	4.1%	9.7%	10.0%	8.9%	17.2%	5.8%	9.0%	8.9%
Current ratio	2.42×	2.21×	2.54×	2.48×	2.52×	2.39×	2.54×	2.71×
Debt / equity	0.19×	0.19×	0.08×	0.06×	0.06×	0.08×	0.06×	0.03×
Interest coverage	16.09×	23.28×	30.29×	35.32×	120.99×	40.75×	50.95×	61.15×
Dividend yield	6.0%	6.7%	4.1%	3.4%	3.8%	5.3%	5.6%	3.9%
Payout ratio	147.7%	83.9%	48.7%	47.7%	25.8%	117.6%	88.2%	91.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.2%	11.8%	12.3%	10.6%	18.2%	6.4%	11.0%	10.6%
Return on invested capital	7.6%	8.9%	10.8%	10.1%	15.8%	6.2%	9.3%	8.8%
Return on assets	3.3%	7.5%	8.6%	7.4%	12.6%	4.3%	7.4%	7.3%
Free cash flow yield	10.5%	10.2%	9.6%	7.7%	10.1%	13.2%	7.6%	4.4%
Earnings yield	4.1%	8.0%	8.4%	7.1%	14.8%	4.5%	6.3%	4.3%
Enterprise value	€2B	€2.5B	€2.4B	€2.5B	€1.8B	€1.9B	€2.7B	€4B
Net debt / EBITDA	-0.53×	-0.29×	-0.7×	-0.74×	-0.65×	-0.54×	-0.27×	-0.28×
Cash conversion cycle (days)	193	211	200	196	216	213	230	232