LACROIX Group S.A. (LACR.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

+175.4%

€46.69

vs €16.95 price

Levered DCF

€14.16

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.76

Distress zone

Rating

C+

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	-1.37×	-1.3×	32.75×	10.59×	9.33×	7.76×	7.2×	10.17×
P/B	0.6×	0.32×	0.78×	0.72×	1.31×	0.88×	0.79×	0.84×
P/S	0.12×	0.07×	0.18×	0.18×	0.4×	0.15×	0.16×	0.18×
EV / EBITDA	4.21×	10.73×	6.64×	6.95×	8.72×	8.91×	16.45×	15.38×
Gross margin	6.2%	30.6%	2.8%	30.0%	32.3%	33.4%	32.6%	30.6%
Operating margin	4.7%	0.8%	2.3%	3.0%	4.9%	3.4%	3.4%	2.6%
Net margin	-8.9%	-5.3%	0.6%	1.7%	4.3%	1.9%	2.2%	1.8%
Current ratio	1.15×	1.22×	1.36×	1.28×	1.24×	1.38×	1.47×	1.48×
Debt / equity	1.38×	1.24×	0.97×	1×	0.98×	0.99×	0.73×	0.52×
Interest coverage	3.86×	0.56×	2.18×	4.56×	29.3×	19.35×	20.66×	10.55×
Dividend yield	0.3%	8.5%	3.0%	3.5%	1.9%	4.3%	3.5%	3.0%
Payout ratio	-0.4%	-11.1%	98.0%	37.4%	17.8%	33.2%	25.1%	30.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-43.4%	-24.8%	2.4%	6.8%	14.0%	11.4%	11.0%	8.2%
Return on invested capital	5.5%	1.5%	2.7%	4.4%	6.5%	5.1%	5.6%	5.2%
Return on assets	-10.2%	-6.3%	0.7%	2.0%	4.0%	2.9%	3.2%	2.8%
Free cash flow yield	56.6%	28.6%	13.9%	-14.3%	-12.7%	36.0%	-7.1%	-2.9%
Earnings yield	-72.8%	-76.7%	3.1%	9.4%	10.7%	12.9%	13.9%	9.8%
Enterprise value	€143.2M	€171.9M	€269.3M	€277.9M	€318.7M	€126.6M	€133.2M	€118.2M
Net debt / EBITDA	2.61×	7.99×	3.2×	3.8×	3.2×	2.9×	7×	4.48×
Cash conversion cycle (days)	93	72	82	108	113	70	104	89