Proactis S.A. (PROAC.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

-1517.5%

-€0.78

vs €0.06 price

Levered DCF

€0.06

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.85

Distress zone

Rating

—

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2022	FY2021	FY2020	FY2019	FY2018	FY2016
P/E	-6.05×	-0.98×	61.9×	-40.26×	-1.34×	19.12×	3.2×	12×
P/B	-6.82×	14.21×	0.95×	1.35×	0.81×	0.65×	0.64×	0.68×
P/S	0.69×	0.91×	1.23×	1.41×	1.06×	1.21×	0.31×	0.79×
EV / EBITDA	4.29×	-1.83×	5.91×	12.28×	-1.7×	5.91×	1.85×	3.43×
Gross margin	20.5%	11.8%	19.7%	20.7%	22.4%	14.7%	47.1%	21.4%
Operating margin	20.4%	-89.8%	2.5%	10.9%	-80.0%	6.3%	9.3%	7.2%
Net margin	-11.5%	-93.0%	2.0%	-3.5%	-78.9%	6.4%	9.7%	5.7%
Current ratio	0.57×	0.4×	1.73×	1.72×	1.54×	1.62×	1.36×	1.13×
Debt / equity	-0.05×	0.7×	0.04×	0.05×	0.08×	0×	0×	0.01×
Interest coverage	59.44×	-206.04×	14.4×	81.75×	-291.12×	102×	4.38×	82×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	8.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	25.8%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2022	FY2021	FY2020	FY2019	FY2018	FY2016
Return on equity	112.7%	-1448.2%	1.6%	-3.3%	-60.3%	3.4%	20.0%	4.9%
Return on invested capital	45.0%	-251.7%	1.0%	9.5%	-70.4%	2.6%	23.3%	6.6%
Return on assets	-11.2%	-98.2%	1.1%	-2.2%	-39.2%	2.7%	14.1%	3.5%
Free cash flow yield	11.3%	1.6%	1.7%	-1.1%	8.0%	-19.4%	9.6%	-10.6%
Earnings yield	-16.5%	-101.9%	1.6%	-2.5%	-74.7%	5.3%	31.2%	7.3%
Enterprise value	€5.4M	€10.8M	€17.4M	€21M	€12.7M	€16.7M	€11.8M	€12.3M
Net debt / EBITDA	-0.83×	0.01×	-0.07×	-0.15×	0.05×	-0.32×	-0.68×	-1.1×
Cash conversion cycle (days)	-82	-7	63	34	56	55	39	39