Legrand S.A. (LR.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

-37.5%

€81.75

vs €130.70 price

Levered DCF

€81.86

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.24

Safe zone

Rating

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	26.79×	21.13×	21.73×	19.95×	30.35×	28.63×	23.21×	17.06×
P/B	4.57×	3.27×	3.71×	3.01×	4.8×	3.98×	3.8×	2.87×
P/S	3.52×	2.85×	2.96×	2.39×	3.93×	3.2×	2.93×	2.19×
EV / EBITDA	16.57×	13.09×	13.21×	11.88×	18.12×	15.84×	14.07×	11.36×
Gross margin	50.8%	51.6%	52.3%	49.7%	50.8%	52.2%	51.9%	52.1%
Operating margin	21.4%	19.0%	18.9%	17.3%	19.2%	17.5%	18.7%	19.0%
Net margin	13.1%	13.5%	13.6%	12.0%	12.9%	11.2%	12.6%	12.9%
Current ratio	1.93×	1.93×	1.98×	2.04×	1.98×	1.65×	1.75×	1.61×
Debt / equity	0.91×	0.68×	0.72×	0.7×	0.93×	1.1×	0.82×	0.72×
Interest coverage	12.06×	10.67×	13.15×	13.32×	14.55×	10.73×	13.58×	14.4×
Dividend yield	1.7%	2.2%	2.0%	2.2%	1.4%	1.8%	1.8%	2.6%
Payout ratio	46.3%	46.9%	43.9%	44.0%	41.8%	52.6%	42.8%	43.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	17.1%	15.5%	17.1%	15.1%	15.8%	13.9%	16.4%	16.8%
Return on invested capital	9.8%	8.7%	9.2%	8.3%	7.9%	6.6%	8.6%	9.2%
Return on assets	7.1%	7.3%	7.7%	6.9%	6.4%	5.3%	7.1%	7.5%
Free cash flow yield	4.1%	5.2%	6.3%	5.2%	3.4%	5.8%	5.4%	5.6%
Earnings yield	3.7%	4.7%	4.6%	5.0%	3.3%	3.5%	4.3%	5.9%
Enterprise value	€37.6B	€27.6B	€27B	€22.3B	€30B	€22.1B	€21.9B	€15.5B
Net debt / EBITDA	1.86×	1.43×	0.98×	1.24×	1.53×	1.87×	1.6×	1.69×
Cash conversion cycle (days)	79	78	68	88	85	67	64	69