Fnac Darty Valuation Analysis
| FNAC Stock | EUR 35.20 -0.05 -0.14% |
Aligned With Model
Today
The intrinsic value estimate for Fnac Darty SA is based on a 3 months horizon. Negative margins (-1.41%) combined with leverage (1.58x D/E) indicate both operational and financial risk are being priced into the stock. Extending the time horizon generally improves valuation stability.
The valuation of Fnac Darty is tested here against earnings multiples, cash-flow models, and asset-based benchmarks. Cross-checking more than one valuation method usually gives a more reliable estimate than relying on a single framework. Valuation models range from simple P/E comparisons to multi-stage DCF models for Fnac Darty.
Main Profitability Drivers
Fnac Darty's net margin stands at -1.29%, with operating margin at 1.90%. Below the operating line, items like interest and taxes compress Fnac Darty's margin by about 3.19 percentage points. On € 10.33 billion of revenue, Fnac Darty earned € 2.89 billion in gross profit and -€ 67.2 million on the bottom line. With ROE at -9.18% and ROA at -1.56%, these return measures help contextualize Fnac Darty's profitability relative to its balance sheet. Several of Fnac Darty's profitability indicators are moving in a better direction, even though current margin levels are still below zero. To dig further into these trends, see Fnac Darty's detailed margin analysis to evaluate margin sustainability.
Price Book 0.71 | Gross Profit | Price Sales 0.1 | Profit Margin | Enterprise Value Revenue 0.24 |
Fnac Darty Cash | €858.92 million |
Cash stood at € 1.1 billion as of December 31, 2025.
Fnac Darty operates as a retail business generating revenue through consumer demand, inventory turnover, and store or digital sales channels, forming the primary lens for valuation. Trading as an income-oriented stock in Specialty Retail, its dividend characteristics are relevant to income-focused portfolios. Below, the key valuation drivers are examined to determine what the market is pricing and whether the underlying data supports it.
Total Value Analysis
The current total-value analysis for Fnac Darty SA points to enterprise value near 2.44 billion, market capitalization around 1.02 billion, debt of 3.79 billion, and cash and liquid equivalents of 1.13 billion as of latest reporting. Enterprise value captures what an acquirer would pay for the operating business, making it more useful than market cap alone when debt is material.| Takeover Price | Market Cap | Debt Obligations | Cash & Equivalents |
2.44 billion | 1.02 billion | 3.79 billion | 1.13 billion |
Investor Information
About 37.0% of FNAC shares are held by company insiders. FNAC has price-to-book (P/B) ratio of 0.71. Equities trading below book value may carry value potential, though margin and return quality should confirm. Fnac Darty reported a loss per share of 2.22. FNAC had its last dividend issued on the 3rd of June 2026. The firm completed a 1.044-for-1 stock split on 15th of June 2023. Capital allocation and earnings structure point to Fnac Darty having mixed financial positioning. Return on assets remains positive, but negative return on equity suggests the equity base is reduced enough to distort headline capital-return measures.| Current Value | Last Year | Change From Last Year | 10 Year Trend | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Total Cash From Operating Activities | € 349.38 million | € 615.5 million |
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Asset Utilization
The asset utilization indicator refers to the revenue earned for every dollar of assets a company currently reports. Fnac Darty has an asset utilization ratio of 120.92 percent. This suggests that the Company is making €1.21 for each dollar of assets. An increasing asset utilization means that Fnac Darty SA is more efficient with each dollar of assets it utilizes for everyday operations.Macro event markers
Profitability Analysis
Based on Fnac Darty's financial statements, Fnac Darty SA is generating positive operating income but reporting a net loss of -67.2 million, indicating that non-operating charges are eroding bottom-line results. The operating margin stands at 1.9% while the net profit margin is -1.29%, with return on equity at -9.18%. Despite reporting a net loss, most profitability indicators are improving year over year, suggesting the margin structure may be stabilizing.Net Loss | First Reported 2009-12-31 | Previous Quarter -86.2 million | Current Value -50.6 million | Quarterly Volatility 69.16 million |
Macro event markers
| Current Value | Last Year | Change From Last Year | 10 Year Trend | ||||||
|---|---|---|---|---|---|---|---|---|---|
| Gross Profit Margin | 28.00% | 28.00% |
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Profitability for Fnac Darty depends on margin structure, capital efficiency, and cost control. Net margin at -1.29% is negative despite positive operating margins of 1.9%, suggesting non-operating charges are eroding bottom-line profitability. Margin trends and return metrics below indicate whether the earnings profile is strengthening or deteriorating. Fnac Darty reports return on equity of -9.18%, but that reading should be interpreted cautiously because a reduced or negative equity base can distort ROE even when operating returns remain positive.
Earnings per Share Projection vs Actual
Analyst EPS forecasts for Fnac Darty distill multiple research perspectives into a consensus earnings outlook. Net profit margin of -1.29% shows how much of Fnac Darty's top line converts to bottom-line earnings. Consensus EPS estimates for Fnac Darty SA represent the market's baseline earnings expectation. Deviations from this consensus on report day typically drive the sharpest price reactions. Fnac Darty reported estimated earnings of 0.769275 in earnings per share on 31st of December 2027. The strongest signal comes from comparing this forecast against the company's historical beat/miss rate and recent guidance revisions.Macro event markers
Ownership Allocation
Fnac Darty has a large amount of outstanding shares owned by insiders. An insider is usually defined as a CEO, other corporate executive, director, or institutional investor who own at least 10% of the company's outstanding shares. Since such a large part of the company is owned by insiders, it may be worth considering to analyze if each of these insiders have been buying or selling the stock in recent months.Revenue and Profit Overview
FNAC reported revenue of € 10.33 billion. Net Loss for the year was -€ 67.2 million with profit before overhead, payroll, taxes, and interest of € 2.89 billion.Interpreting Recent Signals
Fnac Darty trades at 11.51 times earnings, well below market averages. Among consumer and retail companies, compressed multiples like this typically price in cyclical earnings risk or structural cost challenges tied to consumer confidence cycles, competitive pricing pressure, and input cost shifts. In this context, the valuation reflects operating economics rather than a generalized growth or value signal. Negative profit margins indicate that Fnac Darty's cost structure currently exceeds its revenue generation - in consumer and retail companies, this reflects the fixed-cost intensity of the business, where volume shortfalls or rising input costs rapidly erode profitability. A 158.3 debt-to-equity ratio is high but not unusual for consumer and retail companies - the financing demands of its brand-driven, consumer-facing model require scale, though that same leverage magnifies earnings volatility. At these levels, the market is discounting limited or declining earnings momentum. The key question is whether operating trends stabilize enough to challenge the skepticism embedded in the current pricing.
Valuation Synthesis
Fnac Darty SA operates as a lower-margin consumer and retail business where revenue scale and cost discipline are critical to value creation within the consumer and retail companies space. Operating income remains positive, although net profitability is still negative due to below-the-line charges. The negative ROE conflicts with otherwise positive margins, which usually points to a reduced or negative equity base rather than a deterioration in core operating economics. At current levels, Fnac Darty's valuation reflects an earnings profile that has not yet stabilized. For the market to reprice this business more constructively, brand resilience, pricing power, and consumer spending trends would need to demonstrate sustained improvement.
For Fnac Darty SA, the valuation signals above are most useful when compared against future developments as new data becomes available. Given negative margins and elevated leverage, the key signal to monitor is whether operating performance improves enough to justify the capital structure.
Valuation Framework, Methodology & Assumptions
Fnac Darty is a small-cap equity in Computer & Electronics Retail, Consumer Discretionary Distribution & Retail, Consumer Discretionary categories. Sector-relative metrics refine price assessment. Fnac Darty currently trades at P/S of 0.1, enterprise value (TTM) of 2.44 billion.
Fnac Darty SA inputs come from periodic company reporting and market reference feeds and are mapped into a consistent reporting framework. Valuation outputs are model-derived and depend on published assumptions and reference inputs.
The analysis above is generated by quantitative models and is provided for informational and educational purposes only. It does not constitute financial advice, investment recommendations, or an endorsement to buy or sell any security. All investing involves risk, including the possible loss of principal. Consult a qualified financial advisor before making investment decisions. See our Terms of Use for full details.
Financial data referenced in this analysis is derived from publicly available SEC filings, audited financial statements, and third-party market data providers. The intrinsic value estimate is generated by Macroaxis quantitative models that incorporate fundamental analysis, technical indicators, and risk metrics.
The methodology combines multiple analytical inputs:
- Fundamental analysis - financial statements, profitability ratios, debt structure, and cash flow metrics sourced from SEC filings and public financial reports
- Technical indicators - historical price patterns, momentum signals, and volatility measures
- Risk assessment - probability of bankruptcy models, market risk metrics, and downside scenario analysis
- Peer comparison - relative valuation against industry peers using standardized multiples
Model outputs are refreshed periodically as new financial data becomes available. Past model performance is not indicative of future results. The intrinsic value estimate reflects a point-in-time calculation and should be considered alongside other research and professional advice.
Data sourced from SEC filings (EDGAR), public financial statements, and market data providers.
Editorial review and methodology oversight provided by: Rifka Kats, Member of Macroaxis Editorial Board
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