SCOR Se (SCR.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

+722.2%

€283.18

vs €34.44 price

Levered DCF

€201.55

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.97

Distress zone

Rating

A-

Overall 4 / 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	6.04×	1,060.09×	5.83×	-12.72×	11.15×	20.97×	16.48×	22.91×
P/B	1.16×	0.94×	1.01×	0.89×	0.79×	0.8×	1.1×	1.27×
P/S	0.32×	0.27×	0.3×	0.23×	0.32×	0.32×	0.46×	0.51×
EV / EBITDA	4.38×	10.39×	4×	-3.91×	5.08×	10.94×	10.07×	13.9×
Gross margin	19.7%	94.8%	95.7%	76.7%	75.8%	78.0%	77.1%	0.0%
Operating margin	7.3%	1.1%	7.9%	-10.1%	4.1%	2.2%	3.8%	3.5%
Net margin	5.2%	0.0%	5.1%	-8.4%	2.9%	1.5%	2.8%	2.2%
Current ratio	133.06×	57.49×	103.48×	10.22×	0.09×	0.09×	0.07×	0×
Debt / equity	0.81×	0.79×	0.69×	0.73×	0.5×	0.52×	0.48×	0.49×
Interest coverage	9.17×	1.66×	11.69×	-17.9×	5.43×	2.37×	3.98×	3.25×
Dividend yield	6.3%	7.7%	5.4%	8.4%	6.6%	0.0%	4.7%	4.3%
Payout ratio	37.8%	8100.0%	31.3%	-23.4%	73.7%	0.0%	77.0%	97.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	19.2%	0.1%	17.3%	-32.0%	7.1%	3.8%	6.6%	5.6%
Return on invested capital	2.4%	0.0%	1.6%	-4.0%	1.7%	0.9%	1.6%	0.7%
Return on assets	2.4%	0.0%	2.3%	-4.0%	0.9%	0.5%	0.9%	0.7%
Free cash flow yield	19.7%	21.1%	28.3%	11.2%	45.6%	17.3%	10.2%	11.0%
Earnings yield	16.6%	0.1%	17.1%	-36.1%	9.0%	4.8%	6.1%	4.4%
Enterprise value	€6.9B	€5.4B	€6.3B	€5.2B	€6.2B	€6.3B	€8.5B	€9B
Net debt / EBITDA	1.1×	2.24×	1.01×	-1.01×	0.93×	2.43×	1.87×	2.55×
Cash conversion cycle (days)	3	0	0	-15	-292	-209	-249	-73