Bleecker S.A. (BLEE.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

-757.8%

-€664.41

vs €101.00 price

Levered DCF

-€620.13

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.22

Distress zone

Rating

Overall 2 / 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	-13.02×	-4.27×	-8.3×	-89.67×	1.17×	7.74×	2.41×	1.52×
P/B	0.49×	0.68×	0.72×	0.66×	0.41×	0.62×	0.66×	0.42×
P/S	4.99×	5.89×	7.38×	8.98×	7.21×	8.16×	8.5×	4.06×
EV / EBITDA	104.09×	-20.37×	-48.9×	115.42×	5.24×	0×	0×	0×
Gross margin	48.9%	46.9%	44.7%	31.3%	29.4%	35.6%	35.5%	41.3%
Operating margin	28.6%	38.1%	-40.5%	8.4%	101.2%	179.3%	405.3%	302.7%
Net margin	-38.3%	-138.0%	-88.9%	-10.0%	615.4%	105.4%	353.1%	267.8%
Current ratio	2.89×	0.87×	0.5×	0.11×	0.15×	0.33×	0.29×	1.26×
Debt / equity	1.52×	1.21×	1.23×	1.03×	0.8×	1.14×	1.29×	1.28×
Interest coverage	0.49×	0.65×	-0.84×	0.2×	2.14×	4.43×	8.05×	9.51×
Dividend yield	0.0%	0.0%	0.0%	22.0%	0.0%	0.0%	25.9%	0.0%
Payout ratio	0.0%	0.0%	0.0%	-1969.8%	0.0%	0.0%	62.4%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-3.8%	-15.9%	-8.7%	-0.7%	35.0%	8.0%	27.5%	27.6%
Return on invested capital	1.2%	2.0%	-1.8%	0.1%	3.2%	4.6%	11.6%	13.2%
Return on assets	-1.5%	-7.0%	-3.5%	-0.3%	18.1%	3.3%	10.9%	11.5%
Free cash flow yield	-6.5%	0.4%	2.1%	-4.8%	-12.5%	2.6%	-20.3%	-2.6%
Earnings yield	-7.7%	-23.4%	-12.0%	-1.1%	85.4%	12.9%	41.5%	65.9%
Enterprise value	€500M	€484.7M	€579.9M	€552.4M	€456.3M	€527.6M	€525.9M	€403.8M
Net debt / EBITDA	78.57×	-12.95×	-30.69×	70.54×	3.46×	0×	0×	0×
Cash conversion cycle (days)	348	21	-160	-127	-206	-170	-63	-53