Robertet S.A. (CBE.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

+50.7%

€1,193.23

vs €792.00 price

Levered DCF

€1,119.85

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

5.44

Safe zone

Rating

C+

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	18.41×	19.7×	23.24×	22.99×	31.45×	41.38×	40.2×	23.47×
P/B	3.16×	3.21×	3.72×	4.66×	4.13×	4.39×	4.68×	2.97×
P/S	2.26×	2.2×	2.4×	2.75×	3.72×	3.89×	3.85×	2.32×
EV / EBITDA	11.86×	11.77×	14.42×	16.76×	18.74×	22.7×	22.4×	14.14×
Gross margin	17.4%	56.4%	54.3%	53.1%	16.8%	15.2%	14.4%	53.9%
Operating margin	16.4%	15.5%	15.5%	14.5%	15.4%	13.2%	13.2%	13.1%
Net margin	12.3%	11.2%	10.3%	10.8%	11.8%	9.4%	9.6%	9.9%
Current ratio	3.09×	3.11×	3.47×	3.3×	3.33×	4.03×	3.69×	3.64×
Debt / equity	0.39×	0.49×	0.7×	0.72×	0.21×	0.18×	0.22×	0.27×
Interest coverage	16.7×	11.04×	12.12×	33.12×	93.4×	71.07×	48.69×	75.24×
Dividend yield	1.1%	1.0%	1.3%	1.0%	0.6%	0.6%	0.6%	1.0%
Payout ratio	20.3%	19.7%	29.8%	24.3%	18.1%	22.8%	24.4%	23.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	17.2%	16.3%	16.0%	18.3%	13.1%	10.6%	11.6%	12.6%
Return on invested capital	11.7%	10.7%	10.1%	10.5%	10.5%	8.9%	9.0%	9.6%
Return on assets	10.3%	8.9%	8.0%	9.0%	9.2%	7.6%	8.1%	8.4%
Free cash flow yield	3.5%	4.2%	4.9%	1.2%	2.9%	4.1%	2.2%	2.8%
Earnings yield	5.4%	5.1%	4.3%	3.9%	3.2%	2.4%	2.5%	4.3%
Enterprise value	€2B	€1.9B	€1.9B	€2.1B	€2.2B	€2B	€2.1B	€1.2B
Net debt / EBITDA	0.54×	0.69×	1.38×	1.35×	-0.66×	-0.71×	-0.11×	0.07×
Cash conversion cycle (days)	169	261	274	280	180	178	114	311