GL Events S.A. (GLO.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

+183.3%

€85.83

vs €30.30 price

Levered DCF

€60.25

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.8

Distress 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	10.7×	7.36×	9.76×	9.03×	33.46×	-3.8×	13.59×	10.19×
P/B	1.77×	1.55×	1.33×	1.16×	1.51×	0.91×	1.46×	0.89×
P/S	0.49×	0.44×	0.41×	0.36×	0.68×	0.61×	0.61×	0.41×
EV / EBITDA	6.23×	6.28×	5.99×	6.77×	9.32×	71.61×	9.08×	5.72×
Gross margin	21.1%	94.8%	93.4%	18.6%	14.2%	-5.2%	93.4%	94.7%
Operating margin	10.7%	9.9%	10.0%	8.2%	9.2%	-13.8%	10.9%	8.5%
Net margin	4.8%	4.5%	4.2%	4.0%	2.0%	-16.1%	4.4%	4.1%
Current ratio	0.89×	0.9×	0.91×	1.05×	1.35×	1.02×	0.9×	0.86×
Debt / equity	3.43×	3.42×	3.52×	3.95×	4.96×	4.64×	2.72×	1.33×
Interest coverage	2.76×	2.5×	2.4×	2.65×	2.16×	-2.21×	4.44×	5.41×
Dividend yield	3.1%	2.9%	1.8%	0.0%	0.0%	0.0%	2.7%	3.5%
Payout ratio	32.3%	28.0%	17.5%	0.0%	0.0%	0.0%	37.4%	35.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	17.1%	16.0%	13.6%	12.8%	4.5%	-23.9%	10.7%	8.8%
Return on invested capital	5.8%	5.4%	4.9%	3.7%	1.8%	-2.7%	4.7%	5.4%
Return on assets	2.5%	2.4%	2.0%	1.8%	0.5%	-3.2%	2.0%	2.4%
Free cash flow yield	14.4%	9.7%	27.1%	25.0%	9.6%	-59.8%	17.4%	6.6%
Earnings yield	9.6%	10.3%	10.3%	11.0%	3.0%	-26.3%	7.3%	9.8%
Enterprise value	€1.9B	€1.8B	€1.6B	€1.5B	€1.5B	€1.4B	€1.6B	€798.8M
Net debt / EBITDA	3.46×	3.73×	3.79×	4.58×	6.25×	56.85×	5.11×	2.64×
Cash conversion cycle (days)	31	-1,181	-1,040	5	-10	28	-873	-1,061