Société Française de Casinos S.A. (SFCA.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

+5.4%

€6.32

vs €6.00 price

Levered DCF

€2.32

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.27

Safe zone

Rating

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	8.18×	6.11×	6.96×	4.56×	-11.54×	-0.52×	1.35×	-13.47×
P/B	0.67×	0.66×	0.82×	0.79×	0.93×	0.83×	0.28×	0.7×
P/S	0.67×	0.59×	0.65×	0.6×	1.18×	0.7×	0.51×	0.81×
EV / EBITDA	3.43×	2.42×	3.6×	3×	7.68×	4.62×	0.83×	16.66×
Gross margin	35.8%	57.7%	12.5%	11.5%	-21.9%	-14.2%	51.0%	51.4%
Operating margin	9.4%	12.2%	10.9%	11.0%	-8.2%	-21.4%	7.5%	4.6%
Net margin	8.1%	9.6%	9.3%	12.9%	-10.2%	-136.4%	37.4%	-6.1%
Current ratio	0.91×	1.45×	1.14×	1.07×	0.98×	0.98×	0.81×	0.54×
Debt / equity	0.31×	0.37×	0.53×	0.73×	1.03×	1.05×	0.18×	0.39×
Interest coverage	5.77×	6.52×	6.62×	7.02×	-2.65×	-9.81×	0.71×	1.36×
Dividend yield	0.0%	0.4%	0.4%	0.0%	0.6%	0.0%	0.0%	0.0%
Payout ratio	0.0%	2.2%	2.6%	0.0%	-7.1%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.0%	10.7%	11.7%	17.1%	-8.0%	-161.2%	21.0%	-5.2%
Return on invested capital	5.4%	8.4%	8.7%	8.2%	-3.0%	-11.5%	2.9%	2.4%
Return on assets	5.1%	6.4%	6.3%	8.1%	-3.1%	-63.2%	14.7%	-2.5%
Free cash flow yield	-13.7%	23.8%	14.8%	21.5%	8.7%	12.0%	9.2%	0.2%
Earnings yield	12.1%	16.2%	14.4%	21.6%	-8.6%	-193.8%	73.6%	-7.5%
Enterprise value	€9M	€7.1M	€9.7M	€9.8M	€11.3M	€11.4M	€6.9M	€19.3M
Net debt / EBITDA	-0.05×	-0.43×	0.18×	0.59×	2.48×	1.64×	0.03×	5.53×
Cash conversion cycle (days)	-25	-15	-18	-0	50	13	-6	-95