Bonduelle SCA (BON.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

+1294.7%

€121.48

vs €8.71 price

Levered DCF

€27.77

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.92

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	FY2020	FY2019	FY2018
P/E	14.9×	-23.78×	-1.66×	24.67×	14.15×	11.82×	12.54×	12.99×
P/B	0.39×	0.45×	0.31×	0.46×	0.59×	0.91×	0.97×	1.31×
P/S	0.11×	0.12×	0.08×	0.15×	0.23×	0.31×	0.24×	0.34×
EV / EBITDA	5.53×	5.45×	5.15×	5.89×	46.49×	10.09×	6.8×	7.64×
Gross margin	3.9%	28.8%	27.9%	3.4%	2.2%	2.5%	4.2%	27.3%
Operating margin	3.1%	3.3%	-2.9%	2.0%	2.0%	2.4%	3.5%	4.4%
Net margin	0.7%	-0.5%	-5.0%	0.6%	1.6%	2.6%	1.9%	2.6%
Current ratio	1.24×	1.17×	1.28×	1.26×	1.4×	1.21×	1.24×	1.32×
Debt / equity	0.97×	0.95×	0.91×	0.58×	0.58×	0.99×	1.04×	0.96×
Interest coverage	2.05×	2.56×	-2.18×	2.01×	3.37×	3.77×	4.83×	5.59×
Dividend yield	3.6%	2.4%	4.2%	2.8%	2.9%	1.9%	2.4%	0.9%
Payout ratio	53.5%	-58.2%	-6.9%	68.4%	41.6%	23.0%	29.9%	12.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.6%	-1.9%	-18.7%	1.9%	4.2%	7.7%	7.7%	10.1%
Return on invested capital	-11.7%	2.9%	-5.4%	1.2%	3.2%	2.4%	4.7%	6.6%
Return on assets	0.8%	-0.6%	-6.2%	0.7%	1.7%	2.6%	2.5%	3.4%
Free cash flow yield	12.2%	-5.4%	-49.1%	-21.0%	9.9%	9.0%	12.0%	0.1%
Earnings yield	6.6%	-4.2%	-60.2%	4.1%	7.1%	8.5%	8.0%	7.7%
Enterprise value	€820.8M	€843.4M	€762.4M	€795.3M	€869.3M	€1.4B	€1.4B	€1.6B
Net debt / EBITDA	3.89×	3.67×	3.81×	3.26×	19.79×	5.22×	3.51×	3.18×
Cash conversion cycle (days)	105	117	105	71	81	84	60	68