Financials Lectra

Equities

LSS

FR0000065484

IT Services & Consulting

Market Closed - Euronext Paris Other stock markets 11:35:21 2024-04-26 am EDT			5-day change	1st Jan Change
32.1 ^EUR	-2.28%		-3.17%	+2.72%

Apr. 25	Lectra: 9% decrease in quarterly net income	CF
Apr. 24	Lectra SA Reports Earnings Results for the First Quarter Ended March 31, 2024	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	716.9	811.1	1,584	1,329	1,181	1,215	-	-
Enterprise Value (EV) ¹	615.4	692.3	1,592	1,318	1,164	1,219	1,181	1,215
P/E ratio	24.8 x	46.3 x	53.8 x	30.3 x	35.1 x	26.2 x	19.8 x	16 x
Yield	1.79%	0.96%	0.86%	1.36%	1.15%	1.65%	2.18%	4.03%
Capitalization / Revenue	2.56 x	3.43 x	4.09 x	2.55 x	2.47 x	2.2 x	1.99 x	1.83 x
EV / Revenue	2.2 x	2.93 x	4.11 x	2.52 x	2.44 x	2.2 x	1.93 x	1.83 x
EV / EBITDA	11.5 x	18.5 x	24.5 x	13.4 x	14.7 x	11.8 x	9.61 x	8.92 x
EV / FCF	14.5 x	21.9 x	32.9 x	26.3 x	22.2 x	16.7 x	14.4 x	14.2 x
FCF Yield	6.91%	4.57%	3.04%	3.8%	4.51%	5.99%	6.95%	7.06%
Price to Book	3.91 x	4.2 x	3.75 x	2.96 x	2.88 x	2.74 x	2.47 x	2.24 x
Nbr of stocks (in thousands)	32,074	32,445	37,705	37,755	37,796	37,840	-	-
Reference price ²	22.35	25.00	42.00	35.20	31.25	32.10	32.10	32.10
Announcement Date	2/11/20	2/10/21	2/9/22	2/8/23	2/14/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	280	236.2	387.6	521.9	477.6	552.8	610.6	664.3
EBITDA ¹	53.58	37.49	65.1	98.4	79	103.6	123	136.2
EBIT ¹	40.9	25.6	44.4	68.48	49.05	69.83	88.57	99.7
Operating Margin	14.61%	10.84%	11.46%	13.12%	10.27%	12.63%	14.5%	15.01%
Earnings before Tax (EBT)	40.08	23.71	35.97	58.96	43.97	-	-	-
Net income ¹	29.3	17.6	28.2	43.8	32.6	47.15	64.07	75.85
Net margin	10.46%	7.45%	7.28%	8.39%	6.83%	8.53%	10.49%	11.42%
EPS ²	0.9000	0.5400	0.7800	1.160	0.8900	1.223	1.618	2.005
Free Cash Flow ¹	42.51	31.63	48.34	50.1	52.49	72.97	82.07	85.7
FCF margin	15.18%	13.39%	12.47%	9.6%	10.99%	13.2%	13.44%	12.9%
FCF Conversion (EBITDA)	79.35%	84.35%	74.25%	50.91%	66.44%	70.41%	66.74%	62.95%
FCF Conversion (Net income)	145.1%	179.7%	171.4%	114.38%	161%	154.75%	128.1%	112.99%
Dividend per Share ²	0.4000	0.2400	0.3600	0.4800	0.3600	0.5300	0.7000	1.295
Announcement Date	2/11/20	2/10/21	2/9/22	2/8/23	2/14/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 S1	2021 Q4	2021 S2	2022 Q1	2022 Q2	2022 S1	2022 Q3	2022 Q4	2022 S2	2023 Q1	2023 Q2	2023 S1	2023 Q3	2023 Q4	2023 S2	2024 Q1
Net sales ¹	-	146.7	125.6	-	122	128.9	250.8	141.2	129.9	-	123.7	115.9	239.6	118.7	119.3	-	129.6
EBITDA ¹	-	-	-	-	-	-	-	29.7	23.5	-	19.7	15.57	-	23.9	19.8	-	21.1
EBIT	-	16.17	-	28.2	-	-	30.7	-	-	37.78	-	-	20.31	-	-	28.74	-
Operating Margin	-	11.02%	-	-	-	-	12.24%	-	-	-	-	-	8.48%	-	-	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	1.081	-	-	-	-	-	-	-	8.4	-	-	-	-	-	-	-	-
Net margin	-	-	-	-	-	-	-	-	6.47%	-	-	-	-	-	-	-	-
EPS	0.0400	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	7/28/20	7/29/21	2/9/22	2/9/22	4/28/22	7/28/22	7/28/22	10/25/22	2/8/23	2/8/23	4/27/23	7/27/23	7/27/23	10/25/23	2/14/24	2/14/24	4/24/24

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	-	8.8	-	-	4.3	-	-
Net Cash position ¹	101	119	-	11.4	17	-	33.6	-
Leverage (Debt/EBITDA)	-	-	0.1352 x	-	-	0.0415 x	-	-
Free Cash Flow ¹	42.5	31.6	48.3	50.1	52.5	73	82.1	85.7
ROE (net income / shareholders' equity)	16.6%	9.35%	9.58%	10.5%	7.59%	10.2%	12.9%	14.6%
ROA (Net income/ Total Assets)	-	-	-	5.44%	3.97%	5.1%	5.9%	-
Assets ¹	-	-	-	804.7	822	924.5	1,086	-
Book Value Per Share ²	5.720	5.960	11.20	11.90	10.80	11.70	13.00	14.30
Cash Flow per Share	1.510	1.110	1.510	1.510	1.560	-	-	-
Capex ¹	6.45	4.4	6.17	7.69	7.09	11.3	13.7	13.3
Capex / Sales	2.3%	1.86%	1.59%	1.47%	1.48%	2.04%	2.24%	1.99%
Announcement Date	2/11/20	2/10/21	2/9/22	2/8/23	2/14/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Lectra

Trading Rating

Investor Rating

ESG Refinitiv

B+

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

32.1 EUR

Average target price

37.12 EUR

Spread / Average Target

+15.65%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

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