SPIE SA (SPIE.PA) Stock Fundamental Analysis

Europe • Euronext Paris • EPA:SPIE • FR0012757854

46.02 EUR
-0.72 (-1.54%)
Last: Feb 4, 2026, 07:00 PM
Fundamental Rating

4

SPIE gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 42 industry peers in the Commercial Services & Supplies industry. While SPIE is still in line with the averages on profitability rating, there are concerns on its financial health. 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. Profitability

1.1 Basic Checks

  • SPIE had positive earnings in the past year.
  • In the past year SPIE had a positive cash flow from operations.
  • In the past 5 years SPIE has always been profitable.
  • Each year in the past 5 years SPIE had a positive operating cash flow.
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

  • SPIE has a Return On Assets of 2.01%. This is comparable to the rest of the industry: SPIE outperforms 50.00% of its industry peers.
  • SPIE's Return On Equity of 10.65% is in line compared to the rest of the industry. SPIE outperforms 59.52% of its industry peers.
  • SPIE has a Return On Invested Capital (7.04%) which is in line with its industry peers.
  • SPIE had an Average Return On Invested Capital over the past 3 years of 6.03%. This is below the industry average of 8.66%.
  • The last Return On Invested Capital (7.04%) for SPIE is above the 3 year average (6.03%), which is a sign of increasing profitability.
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 50.00% of its industry peers.
  • In the last couple of years the Profit Margin of SPIE has grown nicely.
  • The Operating Margin of SPIE (5.71%) is comparable to the rest of the industry.
  • In the last couple of years the Operating Margin of SPIE has grown nicely.
  • SPIE has a Gross Margin of 42.40%. This is comparable to the rest of the industry: SPIE outperforms 50.00% of its industry peers.
  • 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. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SPIE is still creating some value.
  • The number of shares outstanding for SPIE has been increased compared to 1 year ago.
  • SPIE has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for SPIE is higher compared to a year ago.
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

  • SPIE has an Altman-Z score of 1.73. This is a bad value and indicates that SPIE is not financially healthy and even has some risk of bankruptcy.
  • SPIE has a Altman-Z score (1.73) which is in line with its industry peers.
  • 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 83.33% 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.
  • With a Debt to Equity ratio value of 1.16, SPIE is not doing good in the industry: 61.90% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.16
Debt/FCF 2.77
Altman-Z 1.73
ROIC/WACC1.01
WACC6.98%
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

  • SPIE has a Current Ratio of 0.77. This is a bad value and indicates that SPIE is not financially healthy enough and could expect problems in meeting its short term obligations.
  • SPIE's Current ratio of 0.77 is on the low side compared to the rest of the industry. SPIE is outperformed by 78.57% of its industry peers.
  • SPIE has a Quick Ratio of 0.77. This is a bad value and indicates that SPIE is not financially healthy enough and could expect problems in meeting its short term obligations.
  • SPIE has a Quick ratio of 0.76. This is in the lower half of the industry: SPIE underperforms 69.05% of its industry peers.
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. Growth

3.1 Past

  • The earnings per share for SPIE have decreased strongly by -11.55% in the last year.
  • SPIE shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 11.04% yearly.
  • SPIE shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 10.87%.
  • The Revenue has been growing slightly by 7.24% on average over the past years.
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 5.78% on average per year.
  • Based on estimates for the next years, SPIE will show a small growth in Revenue. The Revenue will grow by 4.41% on average per year.
EPS Next Y5.3%
EPS Next 2Y9.71%
EPS Next 3Y9.21%
EPS Next 5Y5.78%
Revenue Next Year5.59%
Revenue Next 2Y5.38%
Revenue Next 3Y5.3%
Revenue Next 5Y4.41%

3.3 Evolution

  • The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
  • 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. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 39.00, the valuation of SPIE can be described as expensive.
  • The rest of the industry has a similar Price/Earnings ratio as SPIE.
  • SPIE is valuated rather expensively when we compare the Price/Earnings ratio to 28.25, which is the current average of the S&P500 Index.
  • The Price/Forward Earnings ratio is 14.59, which indicates a correct valuation of SPIE.
  • 61.90% of the companies in the same industry are more expensive than SPIE, based on the Price/Forward Earnings ratio.
  • The average S&P500 Price/Forward Earnings ratio is at 27.50. SPIE is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 39
Fwd PE 14.59
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

4.2 Price Multiples

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SPIE is on the same level as its industry peers.
  • Based on the Price/Free Cash Flow ratio, SPIE is valued a bit cheaper than 78.57% of the companies in the same industry.
Industry RankSector Rank
P/FCF 7.96
EV/EBITDA 10.51
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 an expensive valuation of the company.
  • The decent profitability rating of SPIE may justify a higher PE ratio.
PEG (NY)7.35
PEG (5Y)3.53
EPS Next 2Y9.71%
EPS Next 3Y9.21%

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4

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 2.25%, SPIE has a reasonable but not impressive dividend return.
  • Compared to an average industry Dividend Yield of 2.56, SPIE pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.82, SPIE pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.25%

5.2 History

  • The dividend of SPIE is nicely growing with an annual growth rate of 8.23%!
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

  • SPIE pays out 82.94% of its income as dividend. This is not a sustainable payout ratio.
  • The dividend of SPIE is growing, but the earnings are growing slower. 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 SA

EPA:SPIE (2/4/2026, 7:00:00 PM)

46.02

-0.72 (-1.54%)

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 Cap7.73B
Revenue(TTM)10.26B
Net Income(TTM)202.63M
Analysts83.53
Price Target55.74 (21.12%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.25%
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)0.74%
PT rev (3m)3.9%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)2.43%
EPS NY rev (3m)1.98%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.82%
Valuation
Industry RankSector Rank
PE 39
Fwd PE 14.59
P/S 0.75
P/FCF 7.96
P/OCF 7.35
P/B 4.07
P/tB N/A
EV/EBITDA 10.51
EPS(TTM)1.18
EY2.56%
EPS(NY)3.16
Fwd EY6.86%
FCF(TTM)5.78
FCFY12.56%
OCF(TTM)6.26
OCFY13.6%
SpS61.03
BVpS11.32
TBVpS-21.05
PEG (NY)7.35
PEG (5Y)3.53
Graham Number17.34
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 1.73
F-Score5
WACC6.98%
ROIC/WACC1.01
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 5Y5.78%
Revenue 1Y (TTM)10.87%
Revenue growth 3Y12.35%
Revenue growth 5Y7.24%
Sales Q2Q%7.26%
Revenue Next Year5.59%
Revenue Next 2Y5.38%
Revenue Next 3Y5.3%
Revenue Next 5Y4.41%
EBIT growth 1Y20.7%
EBIT growth 3Y17.21%
EBIT growth 5Y10.31%
EBIT Next Year70.92%
EBIT Next 3Y24.62%
EBIT Next 5Y16.46%
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 39 and the Price/Book (PB) ratio is 4.07.


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%.