Compagnie de Saint-Gobain S.A. (SGO.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

+107.8%

€144.62

vs €69.60 price

Levered DCF

€125.39

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.24

Grey 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	14.92×	15.06×	12.58×	7.82×	12.92×	44.12×	14.09×	39.96×
P/B	1.75×	1.7×	1.44×	1.03×	1.57×	1.12×	1.02×	0.9×
P/S	0.92×	0.92×	0.7×	0.46×	0.74×	0.53×	0.46×	0.38×
EV / EBITDA	7.19×	7.09×	5.94×	4.71×	6.78×	8.03×	6.79×	8.14×
Gross margin	27.2%	27.2%	26.4%	25.5%	26.4%	24.8%	25.5%	25.4%
Operating margin	10.7%	10.7%	10.4%	10.1%	10.0%	7.3%	7.9%	7.4%
Net margin	6.2%	6.1%	5.6%	5.9%	5.7%	1.2%	3.3%	1.0%
Current ratio	1.27×	1.35×	1.34×	1.24×	1.36×	1.45×	1.35×	1.24×
Debt / equity	0.72×	0.71×	0.67×	0.63×	0.68×	0.87×	0.79×	0.78×
Interest coverage	6.49×	6.97×	8.04×	11.34×	11.01×	6.4×	7.01×	6.41×
Dividend yield	2.5%	2.4%	3.0%	3.5%	2.1%	0.0%	3.6%	4.4%
Payout ratio	37.6%	36.7%	38.0%	27.7%	27.6%	0.0%	50.9%	178.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.7%	11.3%	11.5%	13.2%	12.2%	2.5%	7.2%	2.2%
Return on invested capital	7.9%	7.8%	8.3%	9.3%	8.3%	3.5%	5.9%	4.4%
Return on assets	4.7%	4.6%	4.7%	5.4%	4.9%	0.9%	2.8%	0.8%
Free cash flow yield	8.1%	8.1%	12.1%	16.3%	9.2%	17.3%	10.0%	9.8%
Earnings yield	6.7%	6.6%	8.0%	12.8%	7.7%	2.3%	7.1%	2.5%
Enterprise value	€53.1B	€52.2B	€40.5B	€31.7B	€39.7B	€27.2B	€30.2B	€27B
Net debt / EBITDA	1.37×	1.27×	1.02×	1.22×	1.23×	2.09×	2.34×	3.34×
Cash conversion cycle (days)	53	50	46	47	54	-23	61	56