Nexity S.A. (NXI.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

+1923.8%

€82.94

vs €4.10 price

Levered DCF

€12.24

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

-0.01

Distress 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	-2.64×	-11.61×	47.6×	7.66×	7.07×	17.3×	15.44×	9.02×
P/B	0.31×	0.4×	0.49×	0.73×	1.19×	1.14×	1.43×	1.42×
P/S	0.18×	0.22×	0.23×	0.33×	0.51×	0.43×	0.59×	0.63×
EV / EBITDA	8.68×	35.88×	7.45×	6.5×	5.78×	6.41×	8.35×	8.59×
Gross margin	3.7%	23.3%	34.3%	10.1%	11.3%	8.4%	8.5%	35.7%
Operating margin	0.5%	-4.5%	6.0%	7.5%	8.4%	5.4%	7.2%	8.8%
Net margin	-6.7%	-1.9%	0.5%	4.3%	7.3%	2.5%	3.8%	7.0%
Current ratio	1.21×	1.3×	1.54×	1.17×	1.19×	0.94×	1.29×	1.29×
Debt / equity	1.18×	1.23×	1.38×	1.36×	1.26×	1.45×	1.73×	1.36×
Interest coverage	0.14×	-1.08×	2.22×	6.01×	5.39×	2.9×	4.16×	5.71×
Dividend yield	0.0%	0.0%	15.0%	9.6%	4.8%	5.6%	5.6%	5.6%
Payout ratio	0.0%	0.0%	725.0%	73.5%	34.1%	97.2%	86.0%	50.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-11.7%	-3.4%	1.0%	9.5%	16.9%	6.6%	9.2%	15.8%
Return on invested capital	0.3%	-1.6%	1.8%	4.5%	6.5%	3.6%	3.6%	6.0%
Return on assets	-3.5%	-1.0%	0.2%	2.0%	3.9%	1.2%	1.9%	3.8%
Free cash flow yield	35.6%	25.6%	19.3%	13.9%	1.9%	35.2%	11.3%	9.4%
Earnings yield	-37.9%	-8.6%	2.1%	13.0%	14.2%	5.8%	6.5%	11.1%
Enterprise value	€2B	€2.3B	€2.8B	€3.2B	€3.7B	€3.1B	€4.4B	€4.2B
Net debt / EBITDA	6.5×	24.53×	4.99×	3.59×	2.15×	2.42×	3.62×	3.45×
Cash conversion cycle (days)	211	146	209	224	182	143	150	87