Groupe CRIT S.A. (CEN.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

+473.6%

€258.11

vs €45.00 price

Levered DCF

€272.77

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

2.64

Grey 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	19.66×	8.87×	11.98×	9.97×	15.62×	446.43×	11.19×	6.47×
P/B	1.03×	0.96×	1.16×	0.94×	1.04×	1.14×	1.32×	1.06×
P/S	0.21×	0.23×	0.34×	0.29×	0.34×	0.4×	0.33×	0.24×
EV / EBITDA	3.61×	3.66×	3.66×	2.42×	3.65×	7.99×	4.29×	3.86×
Gross margin	6.0%	3.4%	5.4%	4.3%	4.0%	2.0%	7.1%	6.3%
Operating margin	2.7%	3.1%	3.8%	4.3%	3.7%	1.8%	5.2%	5.0%
Net margin	0.9%	2.3%	2.9%	2.9%	2.2%	0.1%	2.9%	3.6%
Current ratio	1.35×	1.34×	1.76×	1.87×	1.8×	1.68×	1.44×	1.16×
Debt / equity	0.28×	0.31×	0.19×	0.19×	0.2×	0.22×	0.24×	0.36×
Interest coverage	11.2×	13.81×	654.91×	40.17×	26.94×	10.52×	29.07×	34.41×
Dividend yield	8.9%	1.5%	4.5%	1.7%	0.8%	0.0%	1.4%	8.3%
Payout ratio	205.7%	14.5%	54.1%	16.9%	12.9%	3.6%	16.1%	53.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.4%	9.8%	9.7%	9.4%	6.7%	0.3%	11.8%	16.5%
Return on invested capital	5.2%	6.6%	7.2%	7.6%	5.4%	0.0%	11.3%	15.5%
Return on assets	2.0%	4.4%	5.1%	5.0%	3.5%	0.1%	5.8%	7.1%
Free cash flow yield	10.0%	13.4%	10.8%	17.6%	16.6%	16.1%	21.5%	13.7%
Earnings yield	4.3%	10.3%	8.3%	10.0%	6.4%	0.2%	8.9%	15.5%
Enterprise value	€624.7M	€606.5M	€544.5M	€338.1M	€412M	€513.6M	€732.4M	€575.7M
Net debt / EBITDA	-0.56×	-0.63×	-2.21×	-2.42×	-2.44×	-2.88×	-0.49×	-0.08×
Cash conversion cycle (days)	69	72	70	76	70	73	62	63