Lisi S.A. (FII.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

-35.2%

€41.80

vs €64.50 price

Levered DCF

€15.46

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.96

Grey zone

Rating

A-

Overall 4 / 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	17.35×	17.89×	28.43×	18.02×	34.16×	-28.79×	22.94×	11.85×
P/B	2.23×	1×	1.14×	0.92×	1.43×	1.08×	1.58×	1.16×
P/S	1.39×	0.56×	0.65×	0.72×	1.29×	0.87×	0.92×	0.65×
EV / EBITDA	10.47×	6.18×	8.64×	7.22×	11×	16.39×	7.04×	6.1×
Gross margin	6.9%	46.8%	46.1%	12.5%	11.3%	9.7%	15.0%	52.1%
Operating margin	9.2%	5.1%	5.6%	6.3%	5.7%	-2.3%	9.0%	8.0%
Net margin	8.0%	3.1%	2.3%	4.0%	3.8%	-3.0%	4.0%	5.5%
Current ratio	2×	1.7×	1.59×	1.7×	1.7×	1.73×	1.89×	1.68×
Debt / equity	0.46×	0.68×	0.69×	0.39×	0.46×	0.47×	0.56×	0.53×
Interest coverage	1.98×	2.95×	4.45×	13.28×	10.59×	-4.45×	20.31×	20.47×
Dividend yield	0.7%	1.4%	0.7%	1.5%	0.5%	0.0%	1.5%	2.3%
Payout ratio	12.8%	25.3%	21.3%	27.1%	16.9%	0.0%	33.6%	27.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.9%	5.6%	4.0%	5.1%	4.2%	-3.8%	6.9%	9.8%
Return on invested capital	6.7%	3.7%	3.2%	3.9%	2.9%	-1.5%	6.6%	6.5%
Return on assets	6.6%	2.5%	1.8%	2.8%	2.3%	-2.0%	3.5%	4.9%
Free cash flow yield	3.1%	8.0%	3.6%	1.8%	3.3%	10.2%	6.2%	5.5%
Earnings yield	5.8%	5.6%	3.5%	5.5%	2.9%	-3.5%	4.4%	8.4%
Enterprise value	€2.7B	€1.5B	€1.6B	€1.3B	€1.8B	€1.3B	€1.9B	€1.4B
Net debt / EBITDA	0.92×	2.02×	2.76×	1.59×	1.69×	2.81×	1.21×	1.45×
Cash conversion cycle (days)	81	83	73	66	88	68	62	71