Compagnie des Eaux de Royan (MLEDR.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

+103.5%

€74.47

vs €36.60 price

Levered DCF

€3.40

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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	16.49×	-18.49×	60.26×	13.46×	14.5×	37.92×	21.62×	10.83×
P/B	1.95×	2.54×	4.08×	3.07×	3.41×	3.72×	5.25×	4.15×
P/S	0.95×	0.87×	1.49×	0.85×	0.74×	0.79×	0.89×	0.6×
EV / EBITDA	662.61×	45.4×	20.89×	7.55×	9.66×	17.89×	12.21×	10.58×
Gross margin	-3.6%	72.8%	19.8%	0.9%	-1.7%	-1.3%	1.4%	100.6%
Operating margin	-3.9%	2.2%	1.4%	9.8%	2.6%	3.5%	5.6%	7.3%
Net margin	5.8%	-4.7%	2.5%	6.3%	5.1%	2.1%	4.1%	5.5%
Current ratio	2.27×	1.39×	1.47×	1.6×	1.97×	1.79×	1.75×	1.82×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	2.13×
Interest coverage	-3.71×	0.72×	4.65×	83.5×	0×	0×	41,771.79×	10,085.82×
Dividend yield	0.0%	3.3%	6.7%	7.7%	10.4%	0.0%	9.0%	8.9%
Payout ratio	0.0%	-60.0%	405.7%	104.1%	151.2%	0.0%	194.2%	95.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.8%	-13.8%	6.8%	22.8%	23.5%	9.8%	24.3%	38.4%
Return on invested capital	-6.3%	6.0%	2.3%	9.6%	3.2%	3.9%	8.3%	6.8%
Return on assets	5.9%	-4.8%	1.5%	3.4%	3.6%	1.5%	3.6%	5.6%
Free cash flow yield	0.0%	0.0%	0.0%	0.0%	5.5%	3.6%	4.3%	0.0%
Earnings yield	6.1%	-5.4%	1.7%	7.4%	6.9%	2.6%	4.6%	9.2%
Enterprise value	€7.2M	€8.3M	€16.3M	€14.6M	€16.4M	€20M	€25.8M	€37.8M
Net debt / EBITDA	-0.12×	-0.05×	0.01×	-0.11×	-0.08×	-0.19×	-0.02×	3.55×
Cash conversion cycle (days)	266	110	463	566	424	410	327	6,481