Nacon S.A. (NACON.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

+472740.3%

€217.51

vs €0.05 price

Levered DCF

€236.85

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.44

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-0.03×	-44.74×	5.85×	14.4×	45.17×	34.57×	19.13×	45.37×
P/B	-0.15×	0.21×	0.39×	0.77×	2.03×	2.92×	1.59×	7.19×
P/S	0.08×	0.36×	0.61×	1.2×	2.98×	3.47×	2.31×	4.29×
EV / EBITDA	1.22×	3.12×	3.1×	6.35×	13.23×	10.53×	5.56×	14.2×
Gross margin	26.8%	12.9%	16.8%	23.0%	24.1%	28.1%	32.6%	51.5%
Operating margin	26.8%	0.1%	12.5%	11.1%	8.9%	15.5%	15.7%	9.9%
Net margin	-227.7%	-0.8%	10.5%	8.2%	6.4%	10.3%	11.8%	9.5%
Current ratio	0.45×	0.93×	0.92×	1.24×	2.35×	2.79×	3.29×	1.42×
Debt / equity	-1.66×	0.5×	0.54×	0.7×	0.63×	0.28×	0.38×	0.19×
Interest coverage	8.45×	0.02×	5×	8.83×	13.04×	22.61×	20.39×	15.63×
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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	450.3%	-0.5%	6.7%	5.3%	4.4%	8.7%	8.1%	15.9%
Return on invested capital	72.6%	0.0%	5.1%	3.5%	2.8%	7.1%	6.0%	8.2%
Return on assets	-223.5%	-0.3%	3.7%	2.6%	2.4%	5.8%	5.1%	7.2%
Free cash flow yield	644.5%	98.6%	70.3%	24.1%	6.7%	8.8%	-4.7%	3.8%
Earnings yield	-2905.9%	-2.2%	17.2%	6.8%	2.1%	3.0%	5.1%	2.2%
Enterprise value	€126.8M	€174.4M	€218.8M	€308.2M	€526.9M	€578.9M	€259.8M	€491.7M
Net debt / EBITDA	1.1×	2.04×	1.65×	2.5×	1.58×	-0.68×	-0.84×	0.17×
Cash conversion cycle (days)	147	45	73	138	148	120	176	135