Gaumont S.A. (GAM.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

+69.8%

€171.47

vs €101.00 price

Levered DCF

€286.33

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.89

Grey zone

Rating

B-

Overall 2 / 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	-15.92×	-34.35×	-81.78×	-26.84×	303.03×	-20.45×	-11.05×	-38.79×
P/B	1.88×	1.43×	1.55×	1.68×	1.47×	1.61×	1.85×	1.25×
P/S	2.07×	1.76×	1.75×	1.52×	1.17×	2.23×	2.01×	1.73×
EV / EBITDA	4.12×	4.33×	3.21×	3.15×	1.97×	5.16×	4.34×	2.53×
Gross margin	-16.5%	93.2%	92.8%	94.1%	94.6%	92.3%	95.7%	94.7%
Operating margin	-18.4%	-6.3%	2.2%	-12.7%	1.3%	-17.1%	-16.5%	-4.0%
Net margin	-13.0%	-5.1%	-2.1%	-5.7%	0.4%	-10.9%	-18.2%	-4.5%
Current ratio	1.02×	1.14×	1.49×	1.59×	1.3×	1.3×	1.82×	2.1×
Debt / equity	0.14×	0.22×	0.37×	0.51×	0.46×	0.64×	0.59×	0.4×
Interest coverage	-27.58×	-5.84×	1.08×	-6.22×	1.1×	-8.14×	-7.69×	-1.58×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.7%	0.9%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-8.1%	-35.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-11.8%	-4.2%	-1.9%	-6.3%	0.5%	-7.9%	-16.7%	-3.2%
Return on invested capital	-13.9%	-3.7%	1.4%	-9.0%	1.1%	-7.3%	-9.3%	-2.0%
Return on assets	-5.5%	-2.0%	-0.9%	-2.6%	0.2%	-3.3%	-7.2%	-1.7%
Free cash flow yield	22.3%	6.1%	9.1%	8.7%	7.0%	-7.3%	-4.3%	4.2%
Earnings yield	-6.3%	-2.9%	-1.2%	-3.7%	0.3%	-4.9%	-9.0%	-2.6%
Enterprise value	€268.4M	€216.7M	€265.5M	€314.8M	€316.7M	€365.9M	€475.9M	€320M
Net debt / EBITDA	-0.64×	-0.94×	-0.42×	-0.16×	0.03×	0.32×	0.46×	-0.16×
Cash conversion cycle (days)	170	-152	-416	-194	-78	146	-101	-289