Soitec S.A. (SOI.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

-87.5%

€14.86

vs €118.95 price

Levered DCF

€2.97

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

4.04

Safe zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	-8.37×	19.37×	19.96×	22.26×	28.61×	79.59×	19.35×	28.44×
P/B	1.39×	1.1×	2.38×	3.97×	5.53×	8.55×	3.85×	6.44×
P/S	3.11×	1.97×	3.64×	4.76×	6.69×	9.91×	3.55×	5.78×
EV / EBITDA	18.14×	7.12×	10.39×	13.51×	20.47×	38.62×	14.12×	20.19×
Gross margin	16.2%	32.1%	33.9%	34.5%	34.1%	28.8%	31.0%	37.2%
Operating margin	-5.6%	13.4%	21.0%	23.0%	23.7%	12.6%	17.3%	24.4%
Net margin	-37.2%	10.3%	18.2%	21.4%	23.4%	12.4%	18.4%	20.3%
Current ratio	3.89×	2.03×	3.28×	3.15×	3.52×	4.27×	2.57×	2.21×
Debt / equity	0.47×	0.49×	0.5×	0.5×	0.56×	0.96×	0.44×	0.56×
Interest coverage	-0.77×	13.22×	10.49×	17.19×	15.67×	6.37×	14.31×	21.32×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-16.6%	5.8%	11.9%	17.8%	19.3%	10.7%	19.9%	22.6%
Return on invested capital	-1.6%	3.9%	7.9%	11.8%	11.8%	5.3%	12.2%	17.0%
Return on assets	-9.6%	3.3%	6.6%	9.6%	10.1%	4.6%	10.8%	11.0%
Free cash flow yield	4.6%	1.7%	-1.7%	0.6%	0.8%	0.7%	0.7%	-1.6%
Earnings yield	-11.9%	5.2%	5.0%	4.5%	3.5%	1.3%	5.2%	3.5%
Enterprise value	€1.9B	€1.9B	€3.6B	€5B	€5.6B	€5.8B	€2.2B	€2.6B
Net debt / EBITDA	0.56×	0.36×	0.1×	-0.38×	-0.52×	0.03×	0.35×	0.36×
Cash conversion cycle (days)	296	237	199	124	145	138	145	146