SPIE SA (SPIE.PA) Fundamental Analysis & Valuation

EPA:SPIE • FR0012757854

45.56 EUR
-0.78 (-1.68%)
Last: Mar 13, 2026, 10:41 AM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

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

Fundamental Rating

4

Taking everything into account, SPIE scores 4 out of 10 in our fundamental rating. SPIE was compared to 43 industry peers in the Commercial Services & Supplies industry. SPIE has a medium profitability rating, but doesn't score so well on its financial health evaluation. SPIE has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

6

1. SPIE.PA Profitability Analysis

1.1 Basic Checks

  • In the past year SPIE was profitable.
  • SPIE had a positive operating cash flow in the past year.
  • SPIE had positive earnings in each of the past 5 years.
  • SPIE had a positive operating cash flow in each of the past 5 years.
SPIE.PA Yearly Net Income VS EBIT VS OCF VS FCFSPIE.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 2025 200M 400M 600M 800M

1.2 Ratios

  • SPIE has a Return On Assets (1.71%) which is comparable to the rest of the industry.
  • SPIE's Return On Equity of 8.20% is in line compared to the rest of the industry. SPIE outperforms 53.49% of its industry peers.
  • SPIE's Return On Invested Capital of 6.53% is in line compared to the rest of the industry. SPIE outperforms 58.14% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for SPIE is below the industry average of 8.50%.
  • The 3 year average ROIC (6.21%) for SPIE is below the current ROIC(6.53%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 1.71%
ROE 8.2%
ROIC 6.53%
ROA(3y)2.35%
ROA(5y)2.14%
ROE(3y)11.19%
ROE(5y)10.34%
ROIC(3y)6.21%
ROIC(5y)5.65%
SPIE.PA Yearly ROA, ROE, ROICSPIE.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2 4 6 8 10

1.3 Margins

  • With a Profit Margin value of 1.70%, SPIE perfoms like the industry average, outperforming 51.16% of the companies in the same industry.
  • In the last couple of years the Profit Margin of SPIE has grown nicely.
  • With a Operating Margin value of 5.69%, SPIE perfoms like the industry average, outperforming 58.14% of the companies in the same industry.
  • In the last couple of years the Operating Margin of SPIE has grown nicely.
  • Looking at the Gross Margin, with a value of 45.06%, SPIE is in line with its industry, outperforming 46.51% of the companies in the same industry.
  • SPIE's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 5.69%
PM (TTM) 1.7%
GM 45.06%
OM growth 3Y3.45%
OM growth 5Y8.85%
PM growth 3Y-3.15%
PM growth 5Y16.25%
GM growth 3Y1.59%
GM growth 5Y0.36%
SPIE.PA Yearly Profit, Operating, Gross MarginsSPIE.PA Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

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3

2. SPIE.PA Health Analysis

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so SPIE is destroying value.
  • Compared to 1 year ago, SPIE has more shares outstanding
  • The number of shares outstanding for SPIE has been increased compared to 5 years ago.
  • Compared to 1 year ago, SPIE has an improved debt to assets ratio.
SPIE.PA Yearly Shares OutstandingSPIE.PA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 50M 100M 150M
SPIE.PA Yearly Total Debt VS Total AssetsSPIE.PA Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2B 4B 6B 8B 10B

2.2 Solvency

  • SPIE has an Altman-Z score of 1.77. This is a bad value and indicates that SPIE is not financially healthy and even has some risk of bankruptcy.
  • With a Altman-Z score value of 1.77, SPIE perfoms like the industry average, outperforming 48.84% of the companies in the same industry.
  • SPIE has a debt to FCF ratio of 2.65. This is a good value and a sign of high solvency as SPIE would need 2.65 years to pay back of all of its debts.
  • SPIE has a better Debt to FCF ratio (2.65) than 83.72% of its industry peers.
  • A Debt/Equity ratio of 0.86 indicates that SPIE is somewhat dependend on debt financing.
  • SPIE has a Debt to Equity ratio (0.86) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.86
Debt/FCF 2.65
Altman-Z 1.77
ROIC/WACC0.93
WACC7%
SPIE.PA Yearly LT Debt VS Equity VS FCFSPIE.PA Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 500M 1B 1.5B 2B

2.3 Liquidity

  • SPIE has a Current Ratio of 0.80. This is a bad value and indicates that SPIE is not financially healthy enough and could expect problems in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 0.80, SPIE is doing worse than 76.74% of the companies in the same industry.
  • SPIE has a Quick Ratio of 0.80. This is a bad value and indicates that SPIE is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Quick ratio value of 0.79, SPIE is not doing good in the industry: 67.44% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.8
Quick Ratio 0.79
SPIE.PA Yearly Current Assets VS Current LiabilitesSPIE.PA Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 1B 2B 3B 4B

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4

3. SPIE.PA Growth Analysis

3.1 Past

  • The earnings per share for SPIE have decreased strongly by -36.05% in the last year.
  • Measured over the past years, SPIE shows a very strong growth in Earnings Per Share. The EPS has been growing by 25.08% on average per year.
  • Looking at the last year, SPIE shows a small growth in Revenue. The Revenue has grown by 4.81% in the last year.
  • Measured over the past years, SPIE shows a quite strong growth in Revenue. The Revenue has been growing by 9.32% on average per year.
EPS 1Y (TTM)-36.05%
EPS 3Y4.2%
EPS 5Y25.08%
EPS Q2Q%-12.2%
Revenue 1Y (TTM)4.81%
Revenue growth 3Y8.62%
Revenue growth 5Y9.32%
Sales Q2Q%93.72%

3.2 Future

  • The Earnings Per Share is expected to grow by 5.60% on average over the next years.
  • SPIE is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.33% yearly.
EPS Next Y11.46%
EPS Next 2Y10.04%
EPS Next 3Y7.04%
EPS Next 5Y5.6%
Revenue Next Year5.43%
Revenue Next 2Y5.36%
Revenue Next 3Y4.68%
Revenue Next 5Y3.33%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
SPIE.PA Yearly Revenue VS EstimatesSPIE.PA Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 2B 4B 6B 8B 10B
SPIE.PA Yearly EPS VS EstimatesSPIE.PA Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 1 2 3

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4

4. SPIE.PA Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 44.67, the valuation of SPIE can be described as expensive.
  • SPIE's Price/Earnings ratio is in line with the industry average.
  • Compared to an average S&P500 Price/Earnings ratio of 25.71, SPIE is valued quite expensively.
  • A Price/Forward Earnings ratio of 14.49 indicates a correct valuation of SPIE.
  • Based on the Price/Forward Earnings ratio, SPIE is valued a bit cheaper than 62.79% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 23.82, SPIE is valued a bit cheaper.
Industry RankSector Rank
PE 44.67
Fwd PE 14.49
SPIE.PA Price Earnings VS Forward Price EarningsSPIE.PA Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • SPIE's Enterprise Value to EBITDA ratio is in line with the industry average.
  • Based on the Price/Free Cash Flow ratio, SPIE is valued a bit cheaper than 74.42% of the companies in the same industry.
Industry RankSector Rank
P/FCF 9.55
EV/EBITDA 8.75
SPIE.PA Per share dataSPIE.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
  • The decent profitability rating of SPIE may justify a higher PE ratio.
PEG (NY)3.9
PEG (5Y)1.78
EPS Next 2Y10.04%
EPS Next 3Y7.04%

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

2

5. SPIE.PA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 2.08%, SPIE has a reasonable but not impressive dividend return.
  • SPIE's Dividend Yield is a higher than the industry average which is at 2.15.
  • Compared to an average S&P500 Dividend Yield of 1.82, SPIE has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 2.08%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years4
Div Non Decr Years4
SPIE.PA Yearly Dividends per shareSPIE.PA Yearly Dividends per shareYearly Dividends per share 2018 2019 2020 2021 2022 2023 2024 2025 0.2 0.4 0.6 0.8 1

5.3 Sustainability

  • SPIE pays out 100.06% of its income as dividend. This is not a sustainable payout ratio.
DP100.06%
EPS Next 2Y10.04%
EPS Next 3Y7.04%
SPIE.PA Yearly Income VS Free CF VS DividendSPIE.PA Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 200M 400M 600M 800M
SPIE.PA Dividend Payout.SPIE.PA Dividend Payout, showing the Payout Ratio.SPIE.PA Dividend Payout.PayoutRetained Earnings

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SPIE.PA Fundamentals: All Metrics, Ratios and Statistics

SPIE SA

EPA:SPIE (3/13/2026, 10:41:08 AM)

45.56

-0.78 (-1.68%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)03-06
Earnings (Next)04-24
Inst Owners58.15%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap7.75B
Revenue(TTM)10.40B
Net Income(TTM)176.40M
Analysts83.53
Price Target56.05 (23.02%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.08%
Yearly Dividend1.04
Dividend Growth(5Y)N/A
DP100.06%
Div Incr Years4
Div Non Decr Years4
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)1.29%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)-0.36%
EPS NY rev (3m)1.96%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.29%
Revenue NY rev (3m)0.44%
Valuation
Industry RankSector Rank
PE 44.67
Fwd PE 14.49
P/S 0.75
P/FCF 9.55
P/OCF 8.74
P/B 3.6
P/tB N/A
EV/EBITDA 8.75
EPS(TTM)1.02
EY2.24%
EPS(NY)3.14
Fwd EY6.9%
FCF(TTM)4.77
FCFY10.47%
OCF(TTM)5.21
OCFY11.44%
SpS61.09
BVpS12.65
TBVpS-19.54
PEG (NY)3.9
PEG (5Y)1.78
Graham Number17.04
Profitability
Industry RankSector Rank
ROA 1.71%
ROE 8.2%
ROCE 10.23%
ROIC 6.53%
ROICexc 7.56%
ROICexgc N/A
OM 5.69%
PM (TTM) 1.7%
GM 45.06%
FCFM 7.81%
ROA(3y)2.35%
ROA(5y)2.14%
ROE(3y)11.19%
ROE(5y)10.34%
ROIC(3y)6.21%
ROIC(5y)5.65%
ROICexc(3y)7.46%
ROICexc(5y)7.04%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)9.78%
ROCE(5y)8.9%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y2.42%
ROICexc growth 5Y11.78%
OM growth 3Y3.45%
OM growth 5Y8.85%
PM growth 3Y-3.15%
PM growth 5Y16.25%
GM growth 3Y1.59%
GM growth 5Y0.36%
F-Score7
Asset Turnover1.01
Health
Industry RankSector Rank
Debt/Equity 0.86
Debt/FCF 2.65
Debt/EBITDA 1.76
Cap/Depr 16.34%
Cap/Sales 0.72%
Interest Coverage 250
Cash Conversion 84.38%
Profit Quality 460.26%
Current Ratio 0.8
Quick Ratio 0.79
Altman-Z 1.77
F-Score7
WACC7%
ROIC/WACC0.93
Cap/Depr(3y)20.57%
Cap/Depr(5y)22.92%
Cap/Sales(3y)0.77%
Cap/Sales(5y)0.82%
Profit Quality(3y)346.01%
Profit Quality(5y)328.22%
High Growth Momentum
Growth
EPS 1Y (TTM)-36.05%
EPS 3Y4.2%
EPS 5Y25.08%
EPS Q2Q%-12.2%
EPS Next Y11.46%
EPS Next 2Y10.04%
EPS Next 3Y7.04%
EPS Next 5Y5.6%
Revenue 1Y (TTM)4.81%
Revenue growth 3Y8.62%
Revenue growth 5Y9.32%
Sales Q2Q%93.72%
Revenue Next Year5.43%
Revenue Next 2Y5.36%
Revenue Next 3Y4.68%
Revenue Next 5Y3.33%
EBIT growth 1Y7.84%
EBIT growth 3Y12.37%
EBIT growth 5Y19%
EBIT Next Year62.72%
EBIT Next 3Y23.93%
EBIT Next 5Y17.96%
FCF growth 1Y-2.41%
FCF growth 3Y16.65%
FCF growth 5Y10.43%
OCF growth 1Y-3.65%
OCF growth 3Y15.38%
OCF growth 5Y9.62%

SPIE SA / SPIE.PA FAQ

Can you provide the ChartMill fundamental rating for SPIE SA?

ChartMill assigns a fundamental rating of 4 / 10 to SPIE.PA.


Can you provide the valuation status for SPIE SA?

ChartMill assigns a valuation rating of 4 / 10 to SPIE SA (SPIE.PA). This can be considered as Fairly Valued.


What is the profitability of SPIE stock?

SPIE SA (SPIE.PA) has a profitability rating of 6 / 10.


Can you provide the PE and PB ratios for SPIE stock?

The Price/Earnings (PE) ratio for SPIE SA (SPIE.PA) is 44.67 and the Price/Book (PB) ratio is 3.6.


Can you provide the dividend sustainability for SPIE stock?

The dividend rating of SPIE SA (SPIE.PA) is 2 / 10 and the dividend payout ratio is 100.06%.