Financials 2CRSi

Equities

AL2SI

FR0013341781

Computer Hardware

Market Closed - Euronext Paris Other stock markets 11:35:10 2024-04-26 am EDT			5-day change	1st Jan Change
3.63 ^EUR	-0.82%		+1.97%	+142.00%

Apr. 22	2CRSi: Edge Computing servers deployed in Canada	CF
Apr. 22	2Crsi Opens Up to A Market of over CAD 300 Million for Energy Reuse	CI

Valuation

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	44.24	96.04	56.83	39.75	69.01	-	-
Enterprise Value (EV) ¹	88.04	162.4	123.7	86.85	97.21	99.11	87.21
P/E ratio	-10.4 x	-23.3 x	-57.1 x	-3.25 x	60.5 x	11.7 x	3.18 x
Yield	-	-	-	-	-	-	-
Capitalization / Revenue	0.54 x	0.59 x	0.31 x	0.22 x	0.45 x	0.32 x	0.21 x
EV / Revenue	1.08 x	0.99 x	0.67 x	0.47 x	0.64 x	0.47 x	0.27 x
EV / EBITDA	62.9 x	22.3 x	13 x	51.1 x	21.6 x	7.13 x	2.29 x
EV / FCF	10.1 x	-25.4 x	15.1 x	9.45 x	12.2 x	-55.1 x	7.33 x
FCF Yield	9.91%	-3.94%	6.64%	10.6%	8.23%	-1.82%	13.6%
Price to Book	0.94 x	2.36 x	1.41 x	1.45 x	1.96 x	1.65 x	1.03 x
Nbr of stocks (in thousands)	14,226	14,207	14,207	14,222	19,012	-	-
Reference price ²	3.110	6.760	4.000	2.795	3.630	3.630	3.630
Announcement Date	7/8/20	6/15/21	7/11/22	6/29/23	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	81.7	163.3	183.6	184.4	152	213	323
EBITDA ¹	1.4	7.3	9.5	1.7	4.5	13.9	38.1
EBIT ¹	-4.7	0.5	0.7	-8.9	3	9.6	31.7
Operating Margin	-5.75%	0.31%	0.38%	-4.83%	1.97%	4.51%	9.81%
Earnings before Tax (EBT)	-	-	-	-	-	-	-
Net income ¹	-4	-4.7	-1.6	-11.6	1.4	7.9	29.3
Net margin	-4.9%	-2.88%	-0.87%	-6.29%	0.92%	3.71%	9.07%
EPS ²	-0.3000	-0.2900	-0.0700	-0.8600	0.0600	0.3100	1.140
Free Cash Flow ¹	8.725	-6.395	8.218	9.195	8	-1.8	11.9
FCF margin	10.68%	-3.92%	4.48%	4.99%	5.26%	-0.85%	3.68%
FCF Conversion (EBITDA)	623.21%	-	86.51%	540.88%	177.78%	-	31.23%
FCF Conversion (Net income)	-	-	-	-	571.43%	-	40.61%
Dividend per Share	-	-	-	-	-	-	-
Announcement Date	7/8/20	6/15/21	7/11/22	6/29/23	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: February	2022 S1	2022 S2	2023 S1
Net sales ¹	-	93.36	95.6
EBITDA	-	-	-
EBIT	1.7	-	-
Operating Margin	-	-	-
Earnings before Tax (EBT)	-	-	-
Net income	-1.1	-	-
Net margin	-	-	-
EPS	-	-	-
Dividend per Share	-	-	-
Announcement Date	11/30/21	7/11/22	11/29/22

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: February	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	43.8	66.4	66.9	47.1	28.2	30.1	18.2
Net Cash position ¹	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	31.29 x	9.096 x	7.042 x	27.71 x	6.267 x	2.165 x	0.4777 x
Free Cash Flow ¹	8.73	-6.4	8.22	9.2	8	-1.8	11.9
ROE (net income / shareholders' equity)	-	-9.75%	-3.92%	-33.4%	4.2%	17.4%	45.9%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share ²	3.320	2.860	2.850	1.930	1.850	2.200	3.520
Cash Flow per Share	-	-	0.6900	0.7100	-	-	-
Capex ¹	3.51	4.27	2.65	2.04	2	2	2
Capex / Sales	4.3%	2.61%	1.44%	1.11%	1.32%	0.94%	0.62%
Announcement Date	7/8/20	6/15/21	7/11/22	6/29/23	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Change in Enterprise Value/EBITDA

Ratings for 2CRSi

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3.63 EUR

Average target price

6.3 EUR

Spread / Average Target

+73.55%

Consensus

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Other Computer Hardware

	1st Jan change	Capi.
2CRSI	+142.00%	73.68M
DELL TECHNOLOGIES INC.	+63.48%	89.27B
HP INC.	-6.95%	27.4B
HEWLETT PACKARD ENTERPRISE COMPANY	+1.12%	22.32B
SEAGATE TECHNOLOGY HOLDINGS PLC	+0.78%	18.03B
LENOVO GROUP LIMITED	-17.31%	14.31B
TD SYNNEX CORPORATION	+9.13%	10.03B
WISTRON CORPORATION	+14.60%	9.94B
ASUSTEK COMPUTER INC.	-14.40%	9.54B
DAWNING INFORMATION INDUSTRY CO., LTD.	+17.98%	9.41B

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