Infotel S.A. (INF.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

+140.8%

€101.16

vs €42.00 price

Levered DCF

€85.39

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

4.42

Safe 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	17.92×	16.18×	20.23×	18.71×	28.24×	30.93×	20.59×	16.92×
P/B	2.43×	2.42×	3.1×	3.36×	3.75×	2.98×	2.89×	2.93×
P/S	1×	1.01×	1.19×	1.27×	1.47×	1.24×	1.07×	1.1×
EV / EBITDA	5.85×	6.1×	8.15×	8.82×	11.62×	9.74×	7.24×	6.93×
Gross margin	9.9%	10.1%	71.0%	11.3%	10.0%	8.6%	57.5%	56.3%
Operating margin	8.4%	8.4%	8.1%	9.9%	8.3%	7.6%	9.0%	9.9%
Net margin	5.5%	6.3%	5.9%	6.8%	5.2%	4.0%	5.2%	6.5%
Current ratio	1.85×	1.83×	1.7×	1.65×	1.69×	1.78×	1.73×	1.79×
Debt / equity	0.2×	0.25×	0.27×	0.3×	0.3×	0.34×	0.18×	0×
Interest coverage	34.1×	35.5×	30.41×	33.39×	34.46×	29.42×	63.83×	0×
Dividend yield	4.7%	4.6%	3.8%	2.9%	2.8%	2.4%	4.0%	3.0%
Payout ratio	85.7%	75.0%	76.2%	54.2%	79.6%	75.1%	82.3%	50.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.3%	14.9%	15.3%	18.0%	13.3%	9.6%	14.0%	17.3%
Return on invested capital	11.4%	11.3%	11.6%	15.7%	10.5%	7.3%	17.5%	17.0%
Return on assets	6.5%	7.2%	7.1%	7.8%	5.5%	4.1%	6.3%	8.6%
Free cash flow yield	6.6%	10.5%	6.0%	5.5%	5.9%	11.7%	6.3%	7.0%
Earnings yield	5.5%	6.2%	5.0%	5.3%	3.5%	3.2%	4.9%	5.9%
Enterprise value	€210.5M	€220.3M	€300.5M	€346.9M	€355.1M	€250.3M	€207.8M	€182.7M
Net debt / EBITDA	-2.36×	-2.18×	-1.75×	-0.85×	-1.05×	-1.6×	-2.02×	-2.76×
Cash conversion cycle (days)	-21	51	-33	44	63	52	26	31