Compagnie des Alpes S.A. (CDA.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

-634.9%

-€101.42

vs €18.96 price

Levered DCF

-€17.81

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

0.72

Distress 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	10.09×	7.76×	7.26×	5.44×	-4.01×	-3.97×	10.03×	12.52×
P/B	0.99×	0.69×	0.65×	0.64×	0.58×	0.56×	0.72×	0.87×
P/S	0.78×	0.58×	0.58×	0.65×	2.03×	0.67×	0.73×	0.89×
EV / EBITDA	5.89×	5.64×	4.99×	3.84×	152.12×	33.45×	4.99×	5.2×
Gross margin	20.4%	81.8%	18.1%	21.2%	74.1%	2.1%	87.4%	87.0%
Operating margin	13.7%	12.8%	12.4%	17.7%	-51.7%	-17.2%	12.3%	12.1%
Net margin	7.7%	7.5%	8.0%	11.9%	-50.6%	-16.9%	7.3%	7.1%
Current ratio	0.39×	0.52×	0.38×	0.83×	1.3×	0.48×	0.3×	0.36×
Debt / equity	1.38×	1.45×	1×	0.87×	1.2×	1.14×	0.65×	0.53×
Interest coverage	3.9×	3.61×	4.53×	10.4×	-6.12×	-8.43×	12.71×	11.77×
Dividend yield	4.7%	6.4%	6.4%	0.0%	0.0%	4.1%	2.5%	1.7%
Payout ratio	47.2%	49.7%	46.3%	0.0%	-0.0%	-16.4%	25.5%	21.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.8%	8.9%	8.9%	11.8%	-14.4%	-14.1%	7.2%	6.9%
Return on invested capital	5.2%	4.5%	5.1%	6.7%	-5.4%	-5.3%	4.4%	4.6%
Return on assets	3.3%	3.0%	3.6%	5.0%	-5.4%	-5.2%	3.4%	3.4%
Free cash flow yield	8.1%	9.9%	2.1%	26.9%	-14.1%	-20.7%	-2.2%	1.7%
Earnings yield	9.9%	12.9%	13.8%	18.4%	-24.9%	-25.2%	10.0%	8.0%
Enterprise value	€2.4B	€2B	€1.6B	€1.2B	€1.2B	€1.2B	€1.2B	€1.1B
Net debt / EBITDA	3.26×	3.6×	2.88×	1.78×	87.69×	22.28×	2.31×	1.87×
Cash conversion cycle (days)	2	-206	-2	-8	-321	-63	-160	-249