Compagnie Du Mont-Blanc (MLCMB.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

+833.5%

€2,296.31

vs €246.00 price

Levered DCF

€458.96

After debt service

Piotroski score

—

Altman Z-score

—

Rating

—

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
P/E	7.8×	5.89×	7.1×	6.98×	4.51×	8.81×	6.79×	17.32×
P/B	0.76×	0.62×	0.65×	0.65×	0.75×	1×	1.13×	1.62×
P/S	0.98×	0.81×	0.93×	0.99×	4.67×	1.28×	1.17×	1.57×
EV / EBITDA	3.64×	2.83×	2.79×	2.35×	2.85×	5.89×	5.22×	6.47×
Gross margin	27.5%	91.1%	28.1%	94.3%	270.0%	94.2%	94.4%	94.2%
Operating margin	19.0%	19.2%	20.2%	24.4%	140.0%	11.3%	18.1%	17.0%
Net margin	12.6%	13.8%	13.1%	14.2%	103.6%	14.5%	17.3%	9.1%
Current ratio	2.16×	1.95×	2.69×	2.46×	3.08×	2.03×	1.59×	1.27×
Debt / equity	0.98×	0.96×	0.96×	1.06×	1.31×	1.37×	1.32×	1.39×
Interest coverage	21.06×	10.8×	61.98×	21.65×	26.2×	7.6×	14.23×	12.36×
Dividend yield	5.5%	5.9%	5.5%	0.0%	2.7%	3.0%	3.5%	2.5%
Payout ratio	43.1%	34.9%	38.7%	0.0%	12.0%	26.1%	23.5%	43.2%

Key metrics by fiscal year

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Return on equity	9.7%	10.6%	9.2%	9.3%	16.7%	11.3%	16.7%	9.3%
Return on invested capital	4.9%	5.1%	4.8%	5.1%	6.7%	2.5%	4.9%	4.9%
Return on assets	3.8%	4.0%	3.6%	3.5%	5.9%	4.0%	5.8%	3.1%
Free cash flow yield	-10.7%	-4.2%	-5.6%	27.3%	0.3%	2.0%	-14.1%	4.5%
Earnings yield	12.8%	17.0%	14.1%	14.3%	22.2%	11.4%	14.7%	5.8%
Enterprise value	€198.6M	€155.1M	€129.3M	€111.5M	€153.3M	€200.2M	€211.1M	€197.4M
Net debt / EBITDA	0.87×	0.66×	0.29×	0.12×	0.85×	2.33×	2.1×	2.04×
Cash conversion cycle (days)	75	-17	79	-103	129	-23	-52	-99