Caisse Regionale de Credit Agricole Mutuel Toulouse 31 (CAT31.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

+4746.5%

€4,894.94

vs €101.00 price

Levered DCF

-€4,802.54

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.06

Distress zone

Rating

B-

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	6.81×	5.12×	4.98×	4.85×	5.3×	12.79×	9.5×	10.15×
P/B	0.21×	0.17×	0.16×	0.18×	0.21×	0.28×	0.38×	0.34×
P/S	0.74×	1.28×	1.22×	1.27×	1.4×	1.97×	1.59×	2.21×
EV / EBITDA	100.52×	100.66×	113.99×	101.01×	5.34×	8.76×	0×	0×
Gross margin	42.9%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Operating margin	13.0%	30.6%	25.5%	30.8%	34.2%	24.1%	21.3%	80.2%
Net margin	10.8%	25.0%	24.5%	26.2%	26.5%	15.4%	16.7%	21.8%
Current ratio	0.03×	0.03×	0.1×	0.6×	3.93×	5.11×	0.11×	6.06×
Debt / equity	3.7×	4.12×	4.3×	4.97×	0.14×	0.14×	4.08×	0.24×
Interest coverage	0.25×	0.21×	0.19×	0.75×	0.97×	0.59×	0.71×	1.6×
Dividend yield	2.8%	3.8%	3.9%	3.8%	0.6%	2.2%	1.3%	1.8%
Payout ratio	18.9%	19.3%	19.4%	18.3%	3.0%	27.9%	12.7%	18.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	3.1%	3.3%	3.1%	3.7%	3.9%	2.2%	4.0%	3.4%
Return on invested capital	0.4%	0.6%	0.3%	1.4%	1.4%	0.7%	0.7%	6.2%
Return on assets	0.4%	0.4%	0.4%	0.4%	0.5%	0.3%	0.5%	0.4%
Free cash flow yield	32.9%	-1.9%	-88.6%	-125.5%	99.1%	86.3%	-1.6%	-1.5%
Earnings yield	14.7%	19.5%	20.1%	20.6%	18.9%	7.8%	10.5%	9.9%
Enterprise value	€8.7B	€8.6B	€8.4B	€9.1B	€556.2M	€602.4M	€7B	€744.3M
Net debt / EBITDA	95×	96.7×	109.96×	97.43×	1.78×	2.17×	0×	0×
Cash conversion cycle (days)	0	65	-206	-1,811	-1,067	518	0	0