Valeo SE (FR.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

+1885.4%

€220.28

vs €11.10 price

Levered DCF

€248.48

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.27

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	14.37×	14.11×	15.3×	17.58×	36.41×	-7.09×	23.98×	11.09×
P/B	0.87×	0.61×	0.95×	1.05×	1.73×	2.4×	1.62×	1.33×
P/S	0.14×	0.11×	0.15×	0.2×	0.37×	0.47×	0.38×	0.32×
EV / EBITDA	2.38×	2.23×	2.96×	3.54×	4.64×	10.26×	4.67×	3.87×
Gross margin	15.0%	14.5%	14.2%	13.1%	13.2%	9.1%	14.5%	16.7%
Operating margin	4.0%	3.6%	3.0%	2.3%	2.9%	-3.2%	4.3%	5.5%
Net margin	1.0%	0.8%	1.0%	1.1%	1.0%	-6.6%	1.6%	2.9%
Current ratio	0.86×	0.81×	0.86×	0.89×	0.89×	0.85×	0.96×	0.95×
Debt / equity	1.98×	1.89×	1.98×	1.9×	1.58×	1.89×	1.04×	1.04×
Interest coverage	2.62×	2.14×	2.02×	2.54×	4.38×	-4.88×	7.3×	12.27×
Dividend yield	3.6%	4.3%	2.7%	2.1%	1.1%	0.6%	4.0%	4.9%
Payout ratio	51.5%	59.9%	41.6%	36.5%	41.1%	-4.4%	94.9%	54.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.0%	4.4%	6.2%	6.0%	4.7%	-33.8%	6.8%	11.9%
Return on invested capital	4.2%	4.8%	3.9%	2.3%	2.6%	-4.4%	4.5%	8.6%
Return on assets	1.0%	0.7%	1.0%	1.0%	0.9%	-5.8%	1.7%	3.0%
Free cash flow yield	18.4%	20.3%	13.6%	7.9%	3.9%	3.7%	5.7%	14.5%
Earnings yield	7.0%	7.1%	6.5%	5.7%	2.7%	-14.1%	4.2%	9.0%
Enterprise value	€7B	€6.2B	€7.4B	€8B	€9.8B	€10.9B	€10.5B	€8.5B
Net debt / EBITDA	1.39×	1.41×	1.61×	1.75×	1.61×	2.96×	1.36×	1.1×
Cash conversion cycle (days)	-14	-7	-14	-1	0	-17	-9	4