SPIE SA (SPIE.PA) Fundamental Analysis & Valuation

EPA:SPIE • FR0012757854

50.45 EUR
-1.05 (-2.04%)
Last: Mar 5, 2026, 07:00 PM
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 41 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 valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

6

1. SPIE.PA Profitability Analysis

1.1 Basic Checks

  • SPIE had positive earnings in the past year.
  • 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 200M 400M 600M 800M

1.2 Ratios

  • With a Return On Assets value of 2.01%, SPIE perfoms like the industry average, outperforming 51.22% of the companies in the same industry.
  • SPIE's Return On Equity of 10.65% is in line compared to the rest of the industry. SPIE outperforms 58.54% of its industry peers.
  • With a decent Return On Invested Capital value of 7.04%, SPIE is doing good in the industry, outperforming 60.98% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for SPIE is below the industry average of 8.82%.
  • The 3 year average ROIC (6.03%) for SPIE is below the current ROIC(7.04%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 2.01%
ROE 10.65%
ROIC 7.04%
ROA(3y)2.35%
ROA(5y)1.93%
ROE(3y)11.13%
ROE(5y)9.39%
ROIC(3y)6.03%
ROIC(5y)5.21%
SPIE.PA Yearly ROA, ROE, ROICSPIE.PA Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

  • SPIE has a Profit Margin of 1.98%. This is comparable to the rest of the industry: SPIE outperforms 51.22% of its industry peers.
  • In the last couple of years the Profit Margin of SPIE has grown nicely.
  • SPIE has a Operating Margin of 5.71%. This is comparable to the rest of the industry: SPIE outperforms 58.54% of its industry peers.
  • SPIE's Operating Margin has improved in the last couple of years.
  • Looking at the Gross Margin, with a value of 42.40%, SPIE is in line with its industry, outperforming 48.78% of the companies in the same industry.
  • In the last couple of years the Gross Margin of SPIE has remained more or less at the same level.
Industry RankSector Rank
OM 5.71%
PM (TTM) 1.98%
GM 42.4%
OM growth 3Y4.33%
OM growth 5Y2.86%
PM growth 3Y4.43%
PM growth 5Y5.05%
GM growth 3Y-0.29%
GM growth 5Y0.26%
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 10 20 30 40

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2

2. SPIE.PA Health Analysis

2.1 Basic Checks

  • SPIE 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, SPIE has more shares outstanding
  • SPIE has more shares outstanding than it did 5 years ago.
  • SPIE has a worse debt/assets ratio than last year.
SPIE.PA Yearly Shares OutstandingSPIE.PA Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 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 2B 4B 6B 8B

2.2 Solvency

  • Based on the Altman-Z score of 1.80, we must say that SPIE is in the distress zone and has some risk of bankruptcy.
  • With a Altman-Z score value of 1.80, SPIE perfoms like the industry average, outperforming 48.78% of the companies in the same industry.
  • SPIE has a debt to FCF ratio of 2.77. This is a good value and a sign of high solvency as SPIE would need 2.77 years to pay back of all of its debts.
  • Looking at the Debt to FCF ratio, with a value of 2.77, SPIE belongs to the top of the industry, outperforming 85.37% of the companies in the same industry.
  • A Debt/Equity ratio of 1.16 is on the high side and indicates that SPIE has dependencies on debt financing.
  • SPIE's Debt to Equity ratio of 1.16 is on the low side compared to the rest of the industry. SPIE is outperformed by 60.98% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.16
Debt/FCF 2.77
Altman-Z 1.8
ROIC/WACC1
WACC7.05%
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 500M 1B 1.5B 2B

2.3 Liquidity

  • A Current Ratio of 0.77 indicates that SPIE may have some problems paying its short term obligations.
  • With a Current ratio value of 0.77, SPIE is not doing good in the industry: 75.61% of the companies in the same industry are doing better.
  • A Quick Ratio of 0.76 indicates that SPIE may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.76, SPIE is not doing good in the industry: 65.85% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.77
Quick Ratio 0.76
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 1B 2B 3B 4B

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3

3. SPIE.PA Growth Analysis

3.1 Past

  • SPIE shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -11.55%.
  • Measured over the past years, SPIE shows a quite strong growth in Earnings Per Share. The EPS has been growing by 11.04% on average per year.
  • The Revenue has grown by 10.87% in the past year. This is quite good.
  • Measured over the past years, SPIE shows a small growth in Revenue. The Revenue has been growing by 7.24% on average per year.
EPS 1Y (TTM)-11.55%
EPS 3Y15.57%
EPS 5Y11.04%
EPS Q2Q%-123.26%
Revenue 1Y (TTM)10.87%
Revenue growth 3Y12.35%
Revenue growth 5Y7.24%
Sales Q2Q%7.26%

3.2 Future

  • Based on estimates for the next years, SPIE will show a small growth in Earnings Per Share. The EPS will grow by 5.79% on average per year.
  • The Revenue is expected to grow by 4.40% on average over the next years.
EPS Next Y5.3%
EPS Next 2Y9.71%
EPS Next 3Y9.21%
EPS Next 5Y5.79%
Revenue Next Year5.63%
Revenue Next 2Y5.53%
Revenue Next 3Y5.45%
Revenue Next 5Y4.4%

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 decreasing.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
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

  • With a Price/Earnings ratio of 42.75, SPIE can be considered very expensive at the moment.
  • SPIE's Price/Earnings is on the same level as the industry average.
  • The average S&P500 Price/Earnings ratio is at 26.74. SPIE is valued rather expensively when compared to this.
  • The Price/Forward Earnings ratio is 15.99, which indicates a correct valuation of SPIE.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of SPIE indicates a somewhat cheap valuation: SPIE is cheaper than 60.98% of the companies listed in the same industry.
  • When comparing the Price/Forward Earnings ratio of SPIE to the average of the S&P500 Index (24.82), we can say SPIE is valued slightly cheaper.
Industry RankSector Rank
PE 42.75
Fwd PE 15.99
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 is on the same level as the industry average.
  • SPIE's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. SPIE is cheaper than 78.05% of the companies in the same industry.
Industry RankSector Rank
P/FCF 8.84
EV/EBITDA 11.44
SPIE.PA Per share dataSPIE.PA EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 -20 40 60

4.3 Compensation for Growth

  • The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates SPIE does not grow enough to justify the current Price/Earnings ratio.
  • The decent profitability rating of SPIE may justify a higher PE ratio.
PEG (NY)8.06
PEG (5Y)3.87
EPS Next 2Y9.71%
EPS Next 3Y9.21%

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4

5. SPIE.PA Dividend Analysis

5.1 Amount

  • With a Yearly Dividend Yield of 1.99%, SPIE has a reasonable but not impressive dividend return.
  • SPIE's Dividend Yield is a higher than the industry average which is at 2.05.
  • SPIE's Dividend Yield is comparable with the S&P500 average which is at 1.82.
Industry RankSector Rank
Dividend Yield 1.99%

5.2 History

  • On average, the dividend of SPIE grows each year by 8.23%, which is quite nice.
Dividend Growth(5Y)8.23%
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

  • 82.94% of the earnings are spent on dividend by SPIE. This is not a sustainable payout ratio.
  • SPIE's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP82.94%
EPS Next 2Y9.71%
EPS Next 3Y9.21%
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 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 (3/5/2026, 7:00:00 PM)

50.45

-1.05 (-2.04%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)10-31
Earnings (Next)03-06
Inst Owners55.9%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap8.59B
Revenue(TTM)10.26B
Net Income(TTM)202.63M
Analysts83.53
Price Target56.05 (11.1%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.99%
Yearly Dividend0.86
Dividend Growth(5Y)8.23%
DP82.94%
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)0.55%
PT rev (3m)2.42%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)1.75%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.04%
Revenue NY rev (3m)-0.38%
Valuation
Industry RankSector Rank
PE 42.75
Fwd PE 15.99
P/S 0.84
P/FCF 8.84
P/OCF 8.16
P/B 4.51
P/tB N/A
EV/EBITDA 11.44
EPS(TTM)1.18
EY2.34%
EPS(NY)3.16
Fwd EY6.25%
FCF(TTM)5.71
FCFY11.32%
OCF(TTM)6.18
OCFY12.25%
SpS60.28
BVpS11.18
TBVpS-20.79
PEG (NY)8.06
PEG (5Y)3.87
Graham Number17.23
Profitability
Industry RankSector Rank
ROA 2.01%
ROE 10.65%
ROCE 10.56%
ROIC 7.04%
ROICexc 7.47%
ROICexgc N/A
OM 5.71%
PM (TTM) 1.98%
GM 42.4%
FCFM 9.47%
ROA(3y)2.35%
ROA(5y)1.93%
ROE(3y)11.13%
ROE(5y)9.39%
ROIC(3y)6.03%
ROIC(5y)5.21%
ROICexc(3y)7.59%
ROICexc(5y)6.66%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)9.16%
ROCE(5y)7.87%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y7.51%
ROICexc growth 5Y5.56%
OM growth 3Y4.33%
OM growth 5Y2.86%
PM growth 3Y4.43%
PM growth 5Y5.05%
GM growth 3Y-0.29%
GM growth 5Y0.26%
F-Score5
Asset Turnover1.02
Health
Industry RankSector Rank
Debt/Equity 1.16
Debt/FCF 2.77
Debt/EBITDA 2.27
Cap/Depr 20.73%
Cap/Sales 0.78%
Interest Coverage 250
Cash Conversion 108.25%
Profit Quality 479.54%
Current Ratio 0.77
Quick Ratio 0.76
Altman-Z 1.8
F-Score5
WACC7.05%
ROIC/WACC1
Cap/Depr(3y)23.51%
Cap/Depr(5y)24.99%
Cap/Sales(3y)0.8%
Cap/Sales(5y)0.87%
Profit Quality(3y)305.11%
Profit Quality(5y)422.03%
High Growth Momentum
Growth
EPS 1Y (TTM)-11.55%
EPS 3Y15.57%
EPS 5Y11.04%
EPS Q2Q%-123.26%
EPS Next Y5.3%
EPS Next 2Y9.71%
EPS Next 3Y9.21%
EPS Next 5Y5.79%
Revenue 1Y (TTM)10.87%
Revenue growth 3Y12.35%
Revenue growth 5Y7.24%
Sales Q2Q%7.26%
Revenue Next Year5.63%
Revenue Next 2Y5.53%
Revenue Next 3Y5.45%
Revenue Next 5Y4.4%
EBIT growth 1Y20.7%
EBIT growth 3Y17.21%
EBIT growth 5Y10.31%
EBIT Next Year70.44%
EBIT Next 3Y24.58%
EBIT Next 5Y16.49%
FCF growth 1Y91.09%
FCF growth 3Y22.83%
FCF growth 5Y18.09%
OCF growth 1Y85.78%
OCF growth 3Y21.29%
OCF growth 5Y16.33%

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 42.75 and the Price/Book (PB) ratio is 4.51.


Can you provide the dividend sustainability for SPIE stock?

The dividend rating of SPIE SA (SPIE.PA) is 4 / 10 and the dividend payout ratio is 82.94%.