Eurazeo SE (RF.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

-130.6%

-€15.38

vs €50.25 price

Levered DCF

-€17.01

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.95

Grey zone

Rating

C+

Overall 2 / 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	-8.61×	-12.09×	2.9×	6.98×	3.5×	-24.67×	38.61×	17.11×
P/B	0.56×	0.72×	0.65×	0.64×	0.89×	0.85×	0.88×	0.83×
P/S	8.13×	13.65×	13.06×	0.74×	0.89×	1×	0.87×	0.85×
EV / EBITDA	-14.4×	-20×	3.15×	6.71×	3.07×	8.45×	9.08×	6.58×
Gross margin	68.7%	68.6%	76.6%	43.1%	57.3%	43.0%	40.8%	58.7%
Operating margin	-73.4%	-91.8%	472.0%	17.3%	36.2%	1.3%	7.1%	7.7%
Net margin	-94.4%	-112.8%	450.5%	10.6%	25.5%	-4.0%	2.3%	5.0%
Current ratio	0.36×	0.26×	0.38×	1.05×	1.28×	1.31×	1.11×	1.35×
Debt / equity	0.2×	0.2×	0.12×	0.91×	0.73×	1.01×	0.84×	0.67×
Interest coverage	-4.45×	-4.51×	34.43×	2.83×	7.84×	0.2×	1.58×	2.04×
Dividend yield	5.4%	3.4%	3.2%	5.6%	2.1%	0.0%	2.1%	2.1%
Payout ratio	-46.7%	-41.5%	9.2%	38.8%	7.3%	0.0%	80.7%	36.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-6.5%	-5.9%	22.5%	9.2%	25.5%	-3.4%	2.3%	4.8%
Return on invested capital	-3.8%	-3.9%	20.4%	5.3%	16.2%	0.5%	2.6%	3.9%
Return on assets	-4.9%	-4.6%	18.7%	3.2%	9.6%	-1.2%	0.8%	2.0%
Free cash flow yield	3.5%	-0.4%	-0.5%	-11.0%	-2.2%	-2.3%	0.5%	1.5%
Earnings yield	-11.6%	-8.3%	34.5%	14.3%	28.6%	-4.1%	2.6%	5.8%
Enterprise value	€4.6B	€6.5B	€6.1B	€9B	€8.7B	€7.5B	€7.5B	€6.7B
Net debt / EBITDA	-3.57×	-4.11×	0.42×	3.62×	1.12×	3.99×	3.79×	2.43×
Cash conversion cycle (days)	-62	-19	-162	14	-6	11	100	108