SPIE SA (SPIE.PA) Fundamental Analysis & Valuation

EPA:SPIE • FR0012757854

47.48 EUR
-1.2 (-2.47%)
Last: Mar 9, 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 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

  • SPIE had positive earnings in the past year.
  • In the past year SPIE had a positive cash flow from operations.
  • SPIE had positive earnings in each of the past 5 years.
  • 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 2025 200M 400M 600M 800M

1.2 Ratios

  • The Return On Assets of SPIE (1.71%) is comparable to the rest of the industry.
  • SPIE has a Return On Equity (8.20%) which is comparable to the rest of the industry.
  • The Return On Invested Capital of SPIE (6.53%) is comparable to the rest of the industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for SPIE is below the industry average of 8.50%.
  • The last Return On Invested Capital (6.53%) for SPIE is above the 3 year average (6.21%), which is a sign of increasing profitability.
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

  • SPIE has a Profit Margin (1.70%) which is comparable to the rest of the industry.
  • SPIE's Profit Margin has improved in the last couple of years.
  • The Operating Margin of SPIE (5.69%) is comparable to the rest of the industry.
  • SPIE's Operating Margin has improved in the last couple of years.
  • SPIE has a Gross Margin (45.06%) which is comparable to the rest of the 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 5.69%
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

  • With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), SPIE is destroying value.
  • Compared to 1 year ago, SPIE has more shares outstanding
  • SPIE has more shares outstanding than it did 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 1.80. 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 (1.80) which is comparable to the rest of the 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 Debt to FCF ratio of 2.65. This is amongst the best in the industry. SPIE outperforms 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 1.8
ROIC/WACC0.93
WACC7.02%
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

  • A Current Ratio of 0.80 indicates that SPIE may have some problems paying its short term obligations.
  • SPIE has a worse Current ratio (0.80) than 76.74% of its industry peers.
  • A Quick Ratio of 0.79 indicates that SPIE may have some problems paying its short term obligations.
  • SPIE has a worse Quick ratio (0.79) than 67.44% of its industry peers.
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

  • SPIE shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -36.05%.
  • 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.
  • The Revenue has been growing slightly by 4.81% in the past year.
  • SPIE shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 9.32% yearly.
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

  • SPIE is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 5.60% yearly.
  • Based on estimates for the next years, SPIE will show a small growth in Revenue. The Revenue will grow by 3.33% on average per year.
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

  • 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.
  • 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

  • With a Price/Earnings ratio of 46.55, SPIE can be considered very expensive at the moment.
  • SPIE's Price/Earnings ratio is in line with the industry average.
  • SPIE is valuated expensively when we compare the Price/Earnings ratio to 26.46, which is the current average of the S&P500 Index.
  • Based on the Price/Forward Earnings ratio of 15.10, the valuation of SPIE can be described as correct.
  • 62.79% 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 24.65. SPIE is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 46.55
Fwd PE 15.1
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.
  • Based on the Price/Free Cash Flow ratio, SPIE is valued a bit cheaper than the industry average as 69.77% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 9.95
EV/EBITDA 9.13
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)4.06
PEG (5Y)1.86
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

  • SPIE has a Yearly Dividend Yield of 2.08%.
  • Compared to an average industry Dividend Yield of 2.15, SPIE pays a bit more dividend than its industry peers.
  • 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

  • 100.06% of the earnings are spent on dividend by SPIE. 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 (3/9/2026, 7:00:00 PM)

47.48

-1.2 (-2.47%)

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 Cap8.08B
Revenue(TTM)10.40B
Net Income(TTM)176.40M
Analysts83.53
Price Target56.05 (18.05%)
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 46.55
Fwd PE 15.1
P/S 0.78
P/FCF 9.95
P/OCF 9.11
P/B 3.75
P/tB N/A
EV/EBITDA 9.13
EPS(TTM)1.02
EY2.15%
EPS(NY)3.14
Fwd EY6.62%
FCF(TTM)4.77
FCFY10.05%
OCF(TTM)5.21
OCFY10.98%
SpS61.09
BVpS12.65
TBVpS-19.54
PEG (NY)4.06
PEG (5Y)1.86
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 1.8
F-Score7
WACC7.02%
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 46.55 and the Price/Book (PB) ratio is 3.75.


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%.