Rubis (RUI.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

+105.6%

€73.61

vs €35.80 price

Levered DCF

€108.88

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.17

Grey 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	10.76×	7.24×	6.56×	9.61×	9.18×	13.96×	17.72×	17.69×
P/B	1.18×	0.87×	0.88×	0.93×	1.03×	1.57×	2.23×	2.05×
P/S	0.51×	0.37×	0.35×	0.35×	0.59×	1×	1.04×	1.02×
EV / EBITDA	6.43×	5.38×	5.03×	7.41×	6.39×	10.32×	12.23×	12.93×
Gross margin	9.7%	25.6%	25.4%	9.5%	11.9%	13.2%	10.9%	25.9%
Operating margin	7.5%	9.0%	9.7%	6.9%	8.4%	9.2%	7.9%	7.9%
Net margin	4.7%	5.2%	5.3%	3.7%	6.4%	7.2%	5.9%	5.8%
Current ratio	1.72×	1.47×	1.27×	1.37×	1.8×	2.18×	1.87×	1.93×
Debt / equity	0.79×	0.79×	0.89×	0.9×	0.62×	0.62×	0.74×	0.71×
Interest coverage	5.38×	5.46×	6.42×	7.4×	11.16×	10.23×	13.63×	19.21×
Dividend yield	6.6%	11.4%	8.5%	7.5%	3.1%	5.1%	2.8%	3.8%
Payout ratio	71.5%	82.5%	55.8%	72.7%	28.6%	70.6%	50.3%	66.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.0%	12.1%	13.4%	9.6%	11.2%	11.2%	12.6%	11.6%
Return on invested capital	6.6%	8.3%	10.1%	7.1%	6.8%	6.2%	6.5%	6.9%
Return on assets	4.7%	5.1%	5.6%	4.1%	5.6%	5.7%	5.3%	5.5%
Free cash flow yield	8.5%	16.8%	12.0%	6.3%	3.3%	8.1%	4.4%	2.1%
Earnings yield	9.3%	13.8%	15.2%	10.4%	10.9%	7.2%	5.6%	5.7%
Enterprise value	€4.8B	€4B	€4.1B	€4.2B	€3.4B	€4.4B	€6.4B	€5.3B
Net debt / EBITDA	1.95×	2.07×	2.16×	2.93×	1.38×	1.12×	1.8×	1.96×
Cash conversion cycle (days)	36	37	42	48	62	49	48	52