Caisse Régionale de Crédit Agricole Mutuel Alpes Provence Société coopérative (CRAP.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

+146.2%

€273.24

vs €111.00 price

Levered DCF

-€148.00

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

-0.9

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	7.23×	4.66×	4.51×	3.15×	5.03×	15.56×	12.56×	11.77×
P/B	0.25×	0.18×	0.17×	0.16×	0.2×	0.3×	0.36×	0.33×
P/S	0.86×	1.41×	1.24×	1.01×	1.37×	2.21×	2.45×	2.23×
EV / EBITDA	6.73×	81.34×	89.62×	3.93×	78.02×	18.91×	12.78×	0×
Gross margin	43.5%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Operating margin	14.2%	34.6%	31.6%	37.1%	35.5%	21.6%	27.8%	93.5%
Net margin	11.9%	30.3%	27.6%	32.0%	27.1%	14.2%	19.5%	18.9%
Current ratio	0.01×	0.02×	0.01×	0.56×	0.05×	7.85×	8.24×	5.47×
Debt / equity	0.09×	3.89×	4.08×	0.15×	4.37×	0.44×	0.3×	0.32×
Interest coverage	0.28×	0.22×	0.22×	0.82×	0.78×	0.34×	0.46×	1.37×
Dividend yield	3.1%	4.1%	4.2%	3.8%	1.8%	2.3%	2.0%	3.2%
Payout ratio	22.8%	19.1%	18.9%	12.0%	9.0%	36.4%	25.0%	37.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	3.5%	3.9%	3.7%	4.9%	4.0%	1.9%	2.9%	2.8%
Return on invested capital	1.7%	1.5%	1.5%	2.0%	-2.9%	0.6%	2.0%	8.2%
Return on assets	0.5%	0.5%	0.4%	0.5%	0.5%	0.2%	0.4%	0.3%
Free cash flow yield	-39.1%	33.1%	-121.3%	-241.1%	121.5%	159.6%	7.2%	30.8%
Earnings yield	13.8%	21.5%	22.2%	31.7%	19.9%	6.4%	8.0%	8.5%
Enterprise value	€1.2B	€14B	€13.3B	€746.3M	€13.3B	€1.7B	€1.6B	€1.4B
Net debt / EBITDA	1.12×	77.71×	86.09×	1.52×	74.57×	10.63×	5.08×	0×
Cash conversion cycle (days)	-218	243	266	237	443	797	0	0