Samse S.A. (SAMS.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

+411.5%

€557.53

vs €109.00 price

Levered DCF

€341.24

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.59

Distress 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	17.44×	18.77×	9.06×	6.8×	7.59×	10.99×	14.29×	10.99×
P/B	0.81×	0.81×	1.09×	1.06×	1.24×	1.06×	1.15×	0.96×
P/S	0.25×	0.26×	0.37×	0.34×	0.4×	0.34×	0.39×	0.32×
EV / EBITDA	7.89×	7.73×	5.57×	4.62×	5.16×	5.93×	7.6×	7.03×
Gross margin	7.2%	8.1%	10.9%	11.9%	12.1%	10.7%	30.0%	29.5%
Operating margin	2.0%	3.0%	5.8%	6.5%	7.0%	4.6%	4.1%	3.8%
Net margin	1.3%	1.4%	4.0%	5.0%	5.3%	3.1%	2.7%	2.9%
Current ratio	1.54×	1.6×	1.77×	1.73×	1.64×	1.61×	1.55×	1.65×
Debt / equity	1×	1.07×	0.64×	0.61×	0.62×	0.74×	0.66×	0.44×
Interest coverage	2.38×	3.74×	12.93×	19.81×	20.84×	13.14×	11.24×	14.32×
Dividend yield	5.7%	7.0%	8.0%	8.6%	3.9%	10.6%	1.5%	1.9%
Payout ratio	108.0%	132.1%	72.4%	58.3%	29.5%	116.5%	21.2%	21.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.2%	4.3%	12.1%	15.5%	16.4%	9.6%	8.1%	8.7%
Return on invested capital	2.3%	2.9%	7.7%	9.1%	9.7%	5.3%	4.9%	5.7%
Return on assets	1.5%	1.6%	5.2%	6.5%	6.8%	3.8%	3.4%	4.0%
Free cash flow yield	15.2%	13.8%	13.3%	11.7%	8.8%	20.6%	10.0%	3.0%
Earnings yield	5.2%	5.3%	11.0%	14.7%	13.2%	9.1%	7.0%	9.1%
Enterprise value	€980.8M	€1B	€905M	€830.7M	€915M	€743.6M	€845.8M	€598.4M
Net debt / EBITDA	3.96×	4.01×	1.31×	1.03×	1.16×	1.78×	2.36×	1.72×
Cash conversion cycle (days)	91	94	63	66	64	60	97	77