Teleperformance SE (TEP.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

+588.6%

€558.34

vs €81.08 price

Levered DCF

€639.58

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.63

Distress 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	7.3×	9.49×	13.09×	20.39×	41.35×	49.15×	31.64×	25.8×
P/B	0.89×	1.09×	1.83×	3.57×	7.29×	6.61×	4.93×	3.63×
P/S	0.36×	0.48×	0.93×	1.61×	3.24×	2.78×	2.36×	1.81×
EV / EBITDA	3.99×	4.58×	7.57×	9.66×	18.78×	17.45×	13.79×	13.84×
Gross margin	11.8%	32.6%	31.1%	22.3%	30.5%	30.7%	22.5%	32.3%
Operating margin	11.3%	10.5%	12.0%	12.2%	12.1%	9.7%	11.6%	10.9%
Net margin	4.9%	5.1%	7.1%	7.9%	7.8%	5.7%	7.5%	7.0%
Current ratio	1.18×	1.12×	1.3×	1.27×	1.36×	1.63×	1.5×	1.59×
Debt / equity	1.2×	1.08×	1.29×	0.93×	1.11×	1.36×	1.2×	1.1×
Interest coverage	4.09×	3.91×	5.31×	8.78×	9.99×	6.17×	5.97×	8.08×
Dividend yield	6.8%	4.7%	2.9%	1.5%	0.6%	0.9%	0.9%	1.3%
Payout ratio	49.9%	44.2%	38.3%	30.2%	25.3%	43.5%	27.8%	34.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.1%	11.5%	14.0%	17.5%	17.6%	13.4%	15.6%	14.1%
Return on invested capital	7.6%	6.5%	7.0%	9.5%	8.8%	6.5%	7.9%	7.0%
Return on assets	4.3%	4.3%	4.9%	7.2%	6.7%	4.6%	5.8%	5.3%
Free cash flow yield	32.5%	32.1%	14.8%	7.2%	3.8%	4.4%	4.2%	4.0%
Earnings yield	13.7%	10.5%	7.6%	4.9%	2.4%	2.0%	3.2%	3.9%
Enterprise value	€7.5B	€8.8B	€12.3B	€15.7B	€25.7B	€18.2B	€15.3B	€10.2B
Net debt / EBITDA	2.07×	2×	2.8×	1.6×	1.95×	2.18×	2.4×	2.86×
Cash conversion cycle (days)	62	63	72	63	60	64	68	73