Pluxee N.V. (PLX.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

+186.7%

€33.63

vs €11.73 price

Levered DCF

€80.55

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

0.49

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	13.27×	12.81×	23.83×	54.38×	25.35×	37.86×
P/B	5.33×	6.82×	12.23×	105.01×	6.31×	6.45×
P/S	1.74×	1.96×	2.61×	4.19×	5.24×	6.03×
EV / EBITDA	4.5×	3.18×	8.4×	12.01×	9.44×	14.35×
Gross margin	27.6%	28.0%	35.5%	42.3%	39.3%	38.6%
Operating margin	22.7%	27.5%	20.7%	26.8%	22.2%	19.6%
Net margin	13.1%	15.3%	11.0%	7.7%	20.7%	16.0%
Current ratio	1.05×	1.05×	1.06×	0.85×	0.96×	0.96×
Debt / equity	3.02×	3.5×	4.58×	31.14×	0.79×	0.49×
Interest coverage	49.17×	6.56×	12.5×	14.1×	26.71×	28.6×
Dividend yield	2.4%	2.0%	0.1%	3.2%	4.4%	1.0%
Payout ratio	32.2%	25.9%	1.5%	172.8%	112.1%	38.5%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	40.1%	53.4%	51.6%	192.9%	24.9%	17.1%
Return on invested capital	9.7%	12.9%	8.9%	10.3%	10.7%	10.4%
Return on assets	2.6%	3.1%	2.2%	1.4%	3.3%	2.5%
Free cash flow yield	18.5%	12.4%	10.2%	10.0%	3.2%	2.6%
Earnings yield	7.5%	7.8%	4.2%	1.8%	3.9%	2.7%
Enterprise value	€1.3B	€1.5B	€2.9B	€3.2B	€2.9B	€3.1B
Net debt / EBITDA	-3.19×	-2.26×	-0.69×	-4.76×	-5.12×	-5.79×
Cash conversion cycle (days)	275	320	266	650	930	537