Quadient S.A. (QDT.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

+216.0%

€44.88

vs €14.20 price

Levered DCF

€37.24

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.3

Distress zone

Rating

B-

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	-8.05×	9.45×	9.86×	55.76×	7.79×	20.54×	144.8×	9.74×
P/B	0.57×	0.56×	0.64×	0.53×	0.45×	0.52×	0.6×	0.72×
P/S	0.53×	0.57×	0.64×	0.51×	0.6×	0.63×	0.65×	0.82×
EV / EBITDA	5.72×	10.99×	5.94×	7.85×	4.59×	5.46×	7.16×	5.74×
Gross margin	74.4%	74.8%	74.2%	73.3%	72.7%	72.2%	72.8%	75.1%
Operating margin	13.6%	14.2%	12.4%	11.9%	13.4%	13.1%	14.6%	14.8%
Net margin	-6.6%	6.0%	6.5%	0.9%	8.6%	3.1%	0.5%	8.4%
Current ratio	0.74×	0.83×	1.22×	1.21×	1.9×	1.6×	1.85×	1.26×
Debt / equity	0.83×	0.99×	0.78×	0.87×	0.73×	0.83×	0.93×	0.7×
Interest coverage	3.26×	3.97×	3.62×	3.97×	5.24×	4.01×	4.11×	5.06×
Dividend yield	4.4%	3.5%	3.0%	3.8%	2.8%	1.9%	2.4%	6.6%
Payout ratio	-35.3%	33.3%	30.0%	211.1%	19.6%	38.1%	350.0%	63.9%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-7.0%	5.9%	6.5%	1.0%	6.5%	2.5%	0.4%	7.4%
Return on invested capital	7.6%	5.3%	5.5%	2.9%	4.4%	3.5%	2.5%	7.5%
Return on assets	-2.9%	2.3%	2.7%	0.4%	2.9%	1.1%	0.2%	3.2%
Free cash flow yield	8.4%	9.6%	9.4%	12.8%	16.9%	26.1%	11.8%	20.9%
Earnings yield	-12.4%	10.6%	10.1%	1.8%	14.3%	4.9%	0.7%	10.3%
Enterprise value	€1.2B	€1.4B	€1.4B	€1.3B	€1.1B	€1.2B	€1.4B	€1.5B
Net debt / EBITDA	3.17×	5.97×	3.04×	4.5×	2.07×	2.42×	3.39×	2.35×
Cash conversion cycle (days)	63	42	66	174	74	80	177	160