ASSYSTEM (ASY.PA) Fundamental Analysis & Valuation

EPA:ASY • FR0000074148

43.6 EUR
-1 (-2.24%)
Last: Mar 9, 2026, 09:18 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This ASY.PA fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

3

Taking everything into account, ASY scores 3 out of 10 in our fundamental rating. ASY was compared to 34 industry peers in the Professional Services industry. ASY scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. ASY is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

2

1. ASY.PA Profitability Analysis

1.1 Basic Checks

  • ASY had positive earnings in the past year.
  • ASY had a positive operating cash flow in the past year.
  • Of the past 5 years ASY 4 years were profitable.
  • In the past 5 years ASY always reported a positive cash flow from operatings.
ASY.PA Yearly Net Income VS EBIT VS OCF VS FCFASY.PA Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M 400M

1.2 Ratios

  • ASY's Return On Assets of 1.16% is on the low side compared to the rest of the industry. ASY is outperformed by 64.71% of its industry peers.
  • ASY has a worse Return On Equity (2.76%) than 64.71% of its industry peers.
  • ASY has a worse Return On Invested Capital (0.79%) than 76.47% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for ASY is significantly below the industry average of 11.13%.
Industry RankSector Rank
ROA 1.16%
ROE 2.76%
ROIC 0.79%
ROA(3y)6.75%
ROA(5y)4.3%
ROE(3y)12.09%
ROE(5y)7.77%
ROIC(3y)4.12%
ROIC(5y)3.93%
ASY.PA Yearly ROA, ROE, ROICASY.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80 100

1.3 Margins

  • The Profit Margin of ASY (1.22%) is worse than 64.71% of its industry peers.
  • In the last couple of years the Profit Margin of ASY has declined.
  • ASY's Operating Margin of 0.72% is on the low side compared to the rest of the industry. ASY is outperformed by 76.47% of its industry peers.
  • ASY's Operating Margin has declined in the last couple of years.
Industry RankSector Rank
OM 0.72%
PM (TTM) 1.22%
GM N/A
OM growth 3Y-17.68%
OM growth 5Y-12.46%
PM growth 3Y-43.9%
PM growth 5Y-24.23%
GM growth 3YN/A
GM growth 5YN/A
ASY.PA Yearly Profit, Operating, Gross MarginsASY.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60 80 100

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5

2. ASY.PA Health Analysis

2.1 Basic Checks

  • ASY has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, ASY has less shares outstanding
  • ASY has less shares outstanding than it did 5 years ago.
  • ASY has a worse debt/assets ratio than last year.
ASY.PA Yearly Shares OutstandingASY.PA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M
ASY.PA Yearly Total Debt VS Total AssetsASY.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M

2.2 Solvency

  • An Altman-Z score of 2.65 indicates that ASY is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 2.65, ASY is in line with its industry, outperforming 52.94% of the companies in the same industry.
  • ASY has a debt to FCF ratio of 3.93. This is a good value and a sign of high solvency as ASY would need 3.93 years to pay back of all of its debts.
  • ASY's Debt to FCF ratio of 3.93 is in line compared to the rest of the industry. ASY outperforms 58.82% of its industry peers.
  • A Debt/Equity ratio of 0.47 indicates that ASY is not too dependend on debt financing.
  • ASY's Debt to Equity ratio of 0.47 is fine compared to the rest of the industry. ASY outperforms 67.65% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.47
Debt/FCF 3.93
Altman-Z 2.65
ROIC/WACC0.11
WACC7.54%
ASY.PA Yearly LT Debt VS Equity VS FCFASY.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

2.3 Liquidity

  • A Current Ratio of 1.16 indicates that ASY should not have too much problems paying its short term obligations.
  • ASY has a Current ratio of 1.16. This is comparable to the rest of the industry: ASY outperforms 58.82% of its industry peers.
  • A Quick Ratio of 1.16 indicates that ASY should not have too much problems paying its short term obligations.
  • ASY has a Quick ratio of 1.16. This is comparable to the rest of the industry: ASY outperforms 58.82% of its industry peers.
Industry RankSector Rank
Current Ratio 1.16
Quick Ratio 1.16
ASY.PA Yearly Current Assets VS Current LiabilitesASY.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. ASY.PA Growth Analysis

3.1 Past

  • ASY shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -91.12%.
  • The earnings per share for ASY have been decreasing by -21.02% on average. This is quite bad
  • Looking at the last year, ASY shows a small growth in Revenue. The Revenue has grown by 6.71% in the last year.
  • ASY shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.24% yearly.
EPS 1Y (TTM)-91.12%
EPS 3Y-38.1%
EPS 5Y-21.02%
EPS Q2Q%-7.84%
Revenue 1Y (TTM)6.71%
Revenue growth 3Y11.19%
Revenue growth 5Y4.24%
Sales Q2Q%8.33%

3.2 Future

  • Based on estimates for the next years, ASY will show a very strong growth in Earnings Per Share. The EPS will grow by 28.23% on average per year.
  • ASY is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.55% yearly.
EPS Next Y22.56%
EPS Next 2Y38.2%
EPS Next 3Y28.23%
EPS Next 5YN/A
Revenue Next Year8.11%
Revenue Next 2Y5.95%
Revenue Next 3Y5.55%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
ASY.PA Yearly Revenue VS EstimatesASY.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 200M 400M 600M 800M
ASY.PA Yearly EPS VS EstimatesASY.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 1 2 3

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2

4. ASY.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 83.85, ASY can be considered very expensive at the moment.
  • 64.71% of the companies in the same industry are cheaper than ASY, based on the Price/Earnings ratio.
  • When comparing the Price/Earnings ratio of ASY to the average of the S&P500 Index (26.29), we can say ASY is valued expensively.
  • ASY is valuated correctly with a Price/Forward Earnings ratio of 14.84.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of ASY is on the same level as its industry peers.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.60, ASY is valued a bit cheaper.
Industry RankSector Rank
PE 83.85
Fwd PE 14.84
ASY.PA Price Earnings VS Forward Price EarningsASY.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, ASY is valued a bit more expensive than 79.41% of the companies in the same industry.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as ASY.
Industry RankSector Rank
P/FCF 18.37
EV/EBITDA 38.27
ASY.PA Per share dataASY.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 10 20 30 40

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates ASY does not grow enough to justify the current Price/Earnings ratio.
  • A more expensive valuation may be justified as ASY's earnings are expected to grow with 28.23% in the coming years.
PEG (NY)3.72
PEG (5Y)N/A
EPS Next 2Y38.2%
EPS Next 3Y28.23%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

3

5. ASY.PA Dividend Analysis

5.1 Amount

  • ASY has a Yearly Dividend Yield of 2.25%.
  • ASY's Dividend Yield is comparable with the industry average which is at 2.45.
  • Compared to an average S&P500 Dividend Yield of 1.82, ASY pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.25%

5.2 History

  • On average, the dividend of ASY grows each year by 61.63%, which is quite nice.
Dividend Growth(5Y)61.63%
Div Incr Years1
Div Non Decr Years6
ASY.PA Yearly Dividends per shareASY.PA Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 5 10 15

5.3 Sustainability

  • ASY pays out 1051.28% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of ASY is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP1051.28%
EPS Next 2Y38.2%
EPS Next 3Y28.23%
ASY.PA Yearly Income VS Free CF VS DividendASY.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M 400M
ASY.PA Dividend Payout.ASY.PA Dividend Payout, showing the Payout Ratio.ASY.PA Dividend Payout.PayoutRetained Earnings

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ASY.PA Fundamentals: All Metrics, Ratios and Statistics

ASSYSTEM

EPA:ASY (3/9/2026, 9:18:10 AM)

43.6

-1 (-2.24%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryProfessional Services
Earnings (Last)10-28
Earnings (Next)03-10
Inst Owners15.73%
Inst Owner ChangeN/A
Ins Owners59.17%
Ins Owner ChangeN/A
Market Cap683.21M
Revenue(TTM)637.40M
Net Income(TTM)7.80M
Analysts80
Price Target49.78 (14.17%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.25%
Yearly Dividend12.65
Dividend Growth(5Y)61.63%
DP1051.28%
Div Incr Years1
Div Non Decr Years6
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0.41%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-11.65%
EPS NY rev (3m)0.97%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.39%
Revenue NY rev (3m)-0.51%
Valuation
Industry RankSector Rank
PE 83.85
Fwd PE 14.84
P/S 1.07
P/FCF 18.37
P/OCF 16.46
P/B 2.42
P/tB 5.31
EV/EBITDA 38.27
EPS(TTM)0.52
EY1.19%
EPS(NY)2.94
Fwd EY6.74%
FCF(TTM)2.37
FCFY5.44%
OCF(TTM)2.65
OCFY6.07%
SpS40.68
BVpS18.03
TBVpS8.21
PEG (NY)3.72
PEG (5Y)N/A
Graham Number14.52
Profitability
Industry RankSector Rank
ROA 1.16%
ROE 2.76%
ROCE 1.03%
ROIC 0.79%
ROICexc 0.84%
ROICexgc 1.33%
OM 0.72%
PM (TTM) 1.22%
GM N/A
FCFM 5.84%
ROA(3y)6.75%
ROA(5y)4.3%
ROE(3y)12.09%
ROE(5y)7.77%
ROIC(3y)4.12%
ROIC(5y)3.93%
ROICexc(3y)4.39%
ROICexc(5y)4.27%
ROICexgc(3y)6.1%
ROICexgc(5y)5.75%
ROCE(3y)5.34%
ROCE(5y)5.09%
ROICexgc growth 3Y5.54%
ROICexgc growth 5Y1.01%
ROICexc growth 3Y-1.72%
ROICexc growth 5Y-3.7%
OM growth 3Y-17.68%
OM growth 5Y-12.46%
PM growth 3Y-43.9%
PM growth 5Y-24.23%
GM growth 3YN/A
GM growth 5YN/A
F-Score6
Asset Turnover0.94
Health
Industry RankSector Rank
Debt/Equity 0.47
Debt/FCF 3.93
Debt/EBITDA 6.24
Cap/Depr 25.6%
Cap/Sales 0.67%
Interest Coverage 250
Cash Conversion 193.93%
Profit Quality 476.92%
Current Ratio 1.16
Quick Ratio 1.16
Altman-Z 2.65
F-Score6
WACC7.54%
ROIC/WACC0.11
Cap/Depr(3y)25.85%
Cap/Depr(5y)34.87%
Cap/Sales(3y)0.81%
Cap/Sales(5y)1.11%
Profit Quality(3y)168.69%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-91.12%
EPS 3Y-38.1%
EPS 5Y-21.02%
EPS Q2Q%-7.84%
EPS Next Y22.56%
EPS Next 2Y38.2%
EPS Next 3Y28.23%
EPS Next 5YN/A
Revenue 1Y (TTM)6.71%
Revenue growth 3Y11.19%
Revenue growth 5Y4.24%
Sales Q2Q%8.33%
Revenue Next Year8.11%
Revenue Next 2Y5.95%
Revenue Next 3Y5.55%
Revenue Next 5YN/A
EBIT growth 1Y-86.82%
EBIT growth 3Y-8.47%
EBIT growth 5Y-8.75%
EBIT Next Year85.6%
EBIT Next 3Y27.36%
EBIT Next 5YN/A
FCF growth 1Y173.53%
FCF growth 3Y65.74%
FCF growth 5Y5.88%
OCF growth 1Y117.28%
OCF growth 3Y44.84%
OCF growth 5Y-1.37%

ASSYSTEM / ASY.PA FAQ

What is the ChartMill fundamental rating of ASSYSTEM (ASY.PA) stock?

ChartMill assigns a fundamental rating of 3 / 10 to ASY.PA.


What is the valuation status of ASSYSTEM (ASY.PA) stock?

ChartMill assigns a valuation rating of 2 / 10 to ASSYSTEM (ASY.PA). This can be considered as Overvalued.


How profitable is ASSYSTEM (ASY.PA) stock?

ASSYSTEM (ASY.PA) has a profitability rating of 2 / 10.


Can you provide the expected EPS growth for ASY stock?

The Earnings per Share (EPS) of ASSYSTEM (ASY.PA) is expected to grow by 22.56% in the next year.


How sustainable is the dividend of ASSYSTEM (ASY.PA) stock?

The dividend rating of ASSYSTEM (ASY.PA) is 3 / 10 and the dividend payout ratio is 1051.28%.