Marie Brizard Wine & Spirits S.A. (MBWS.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

+22.4%

€3.44

vs €2.81 price

Levered DCF

€5.43

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

3.89

Safe zone

Rating

B+

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	34.88×	45.24×	34.57×	-265.48×	24.9×	-1.71×	-1.18×	-1.23×
P/B	1.44×	2.04×	1.49×	1.28×	0.72×	1×	0.74×	0.75×
P/S	1.85×	2.32×	1.56×	1.38×	0.83×	0.39×	0.25×	0.2×
EV / EBITDA	20.13×	16.77×	15.29×	26.22×	6.91×	12.74×	-6.3×	-3.72×
Gross margin	5.2%	5.7%	36.4%	39.1%	41.1%	42.4%	35.0%	27.1%
Operating margin	4.5%	4.7%	5.3%	3.9%	3.4%	-3.4%	-10.5%	-9.7%
Net margin	5.3%	5.1%	4.5%	-0.5%	3.3%	-22.7%	-23.9%	-15.9%
Current ratio	2.9×	2.71×	2.39×	2.04×	2.11×	1.23×	0.83×	0.83×
Debt / equity	0.03×	0.04×	0.03×	0.03×	0.03×	1.3×	0.78×	0.89×
Interest coverage	14.69×	1.52×	41.95×	35.71×	12.3×	-1.93×	-13.12×	-6.5×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.1%	4.5%	4.3%	-0.5%	2.9%	-58.3%	-70.5%	-60.9%
Return on invested capital	3.1%	3.3%	3.8%	-1.9%	2.7%	-2.6%	-14.9%	-17.0%
Return on assets	3.2%	3.5%	3.2%	-0.3%	2.1%	-14.3%	-20.3%	-17.2%
Free cash flow yield	-0.6%	2.4%	-1.2%	-5.3%	-8.9%	-0.9%	-37.7%	-104.7%
Earnings yield	2.9%	2.2%	2.9%	-0.4%	4.0%	-58.2%	-95.5%	-81.3%
Enterprise value	€273.5M	€388M	€263.7M	€208.5M	€90.5M	€109.7M	€115.8M	€145.3M
Net debt / EBITDA	-3.33×	-2.09×	-2.22×	-5.15×	-3.68×	5.06×	-2.54×	-1.76×
Cash conversion cycle (days)	141	134	141	155	119	90	77	54