Figeac Aero S.A. (FGA.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

+224.2%

€33.20

vs €10.24 price

Levered DCF

€45.16

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.33

Distress zone

Rating

C-

Overall 1 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	440.19×	98.97×	-18.67×	-10.41×	-4.04×	-2.92×	-2.49×	34.86×
P/B	4.72×	5.29×	3.97×	2.7×	4.67×	1.97×	1×	1.94×
P/S	0.84×	0.9×	0.58×	0.55×	0.62×	0.81×	0.31×	0.9×
EV / EBITDA	9.03×	10.34×	12.22×	9.58×	17.38×	-166.49×	215.52×	12.05×
Gross margin	4.3%	39.1%	36.2%	-5.0%	-6.9%	-23.0%	4.3%	39.5%
Operating margin	6.1%	5.2%	0.7%	-2.6%	-12.4%	-28.4%	1.4%	7.7%
Net margin	0.2%	0.8%	-3.1%	-5.3%	-15.3%	-27.9%	-12.4%	2.6%
Current ratio	1.39×	1.35×	1.48×	1.75×	0.99×	1.23×	1.47×	1.82×
Debt / equity	4.46×	4.83×	6.62×	5.82×	10.59×	5.06×	2.93×	2.04×
Interest coverage	1.22×	0.96×	0.14×	-0.6×	-4.47×	-7.83×	0.62×	3.33×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	1.1%	4.9%	-21.2%	-25.8%	-115.6%	-67.5%	-40.1%	5.6%
Return on invested capital	-5.3%	4.7%	0.3%	-1.7%	-7.5%	-10.0%	1.0%	4.6%
Return on assets	0.1%	0.5%	-1.8%	-2.6%	-6.8%	-8.5%	-7.4%	1.4%
Free cash flow yield	0.0%	8.6%	9.1%	-14.6%	-3.3%	-29.3%	-5.2%	1.0%
Earnings yield	0.2%	0.9%	-5.3%	-9.6%	-24.8%	-34.3%	-40.2%	2.9%
Enterprise value	€676.6M	€661.4M	€522.5M	€480.2M	€519.3M	€514.4M	€437.5M	€666.8M
Net debt / EBITDA	3.6×	4.25×	6.86×	5.82×	11.56×	-112.54×	147.47×	5.09×
Cash conversion cycle (days)	119	199	209	237	278	354	168	197