Électricite de Strasbourg S.A. (ELEC.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

+83.3%

€284.09

vs €155.00 price

Levered DCF

€352.24

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.57

Distress zone

Rating

S-

Overall 5 / 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	8.39×	5.58×	7.63×	13.03×	13.7×	23.84×	16.12×	12.61×
P/B	1.96×	1.43×	1.5×	1.71×	2.16×	2.43×	2.32×	1.79×
P/S	1.06×	0.59×	0.43×	0.55×	0.93×	1.14×	1.1×	0.97×
EV / EBITDA	3.85×	2.79×	3.34×	3.88×	4.94×	5.05×	5.18×	4.16×
Gross margin	16.1%	26.5%	14.3%	15.4%	29.7%	33.7%	31.1%	34.9%
Operating margin	11.9%	13.7%	7.2%	5.7%	9.6%	9.1%	11.2%	12.7%
Net margin	12.6%	10.6%	5.6%	4.3%	6.8%	4.8%	6.9%	7.7%
Current ratio	1.8×	1.67×	1.46×	1.38×	1.47×	1.3×	1.25×	1.22×
Debt / equity	0.02×	0.01×	0.03×	0.11×	0.02×	0.06×	0.06×	0.01×
Interest coverage	772.31×	577.19×	67.33×	355.95×	306.55×	118.72×	392.87×	595.73×
Dividend yield	5.9%	7.4%	2.7%	5.8%	4.2%	4.6%	4.2%	6.9%
Payout ratio	49.9%	41.0%	20.3%	75.7%	57.2%	109.2%	67.6%	86.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	23.4%	25.7%	19.7%	13.2%	15.8%	10.2%	14.5%	14.2%
Return on invested capital	6.4%	9.2%	6.2%	3.9%	4.3%	2.7%	4.0%	4.3%
Return on assets	7.5%	7.1%	4.6%	2.7%	3.1%	2.1%	3.1%	3.1%
Free cash flow yield	12.1%	15.1%	-7.1%	9.8%	8.3%	4.8%	2.5%	8.7%
Earnings yield	11.9%	17.9%	13.1%	7.7%	7.3%	4.2%	6.3%	7.9%
Enterprise value	€1.1B	€690.1M	€597M	€509.6M	€679.7M	€769.6M	€765.9M	€570.5M
Net debt / EBITDA	-0.83×	-0.6×	-0.65×	-1.57×	-0.92×	-0.5×	-0.54×	-0.72×
Cash conversion cycle (days)	79	79	65	-11	-78	-68	7	-128