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Fleury Michon SA (ALFLE) Fair Value & Analysis

Consumer Defensive · FR · Market cap €89.8M

FM Fleury Michon SA ALFLE · PA
Price€21.50
Fair Value€53.52
Upside+148.9%
Quality51/100
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Expensive Growth
Thin margins · 1.6% net margin
Moderate debt · negative free cash flow
6.16% dividend yield
Mixed vs. peers (7/14)
Narrow moat 31/100
Evidence: Medium Range €37.60 – €69.58 Share as image

Fair value as of: Jul 18, 2026

From 15 valuation models · updated 24 days ago

Fair value updated Jul 18, 2026, revised from €53.60 to €53.52 (−0.1%) since Jun 25, 2026. Share price −1.8% over the past month.

A solid business, screening 149% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€37.60). The market is more pessimistic than our downside scenario.
  • Solid quality (51/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range (€37.60 to €69.58) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€27.52 €14.33 Fair Value €53.52 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range €14.33 – €27.52 · fair‑value band €37.60 – €69.58 · the €21.50 price screens below the €53.52 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

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Analysis

Fleury Michon SA (ALFLE) currently trades at €21.50, while our model-based Fair Value estimate is €53.52, implying the stock looks roughly 148.9% undervalued today. The Quality Score stands at 51/100 (solid quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.

Over the trailing twelve months, Fleury Michon SA generated revenue of €836M at a net margin of 1.6%. Revenue grew 5.4% year over year. It earns a return on equity of 4.2%. Net debt stands at €9.5M. Fundamentals as of Jul 18, 2026

Our scenario range runs from €37.60 (bear case) to €69.58 (bull case); at €21.50, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 22% below its 52-week high, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at 149%, ALFLE screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Residual Income €35.99 €36.58 €34.43 76
ROIC Compounder €32.89 €35.16 €37.01 72
Gordon GGM €14.26 €18.51 €22.16 70
All 15 models by family
DCF Models
Owner Earnings €24.98 €27.84 €31.45 31
Earnings-Based
Graham-Dodd €22.36 €44.38 €55.68 54
EPV €32.89 €35.16 €37.01 59
Dividend Discount
Gordon GGM €14.26 €18.51 €22.16 70
DDM Multi-Stage €14.26 €18.35 €22.25 61
Multiples
P/E Multiple €51.80 €69.07 €86.34 63
P/S Multiple €41.93 €55.91 €69.89 58
P/B Multiple €41.93 €55.91 €69.89 55
EV/EBIT €51.52 €64.05 €76.58 53
EV/EBITDA €123.92 €160.58 €197.24 54
EV/Revenue €40.76 €52.26 €63.75 43
Asset-Based
NCAV (Graham) €24.68 €33.06 €49.35 50
Economic Profit
Residual Income €35.99 €36.58 €34.43 76
ROIC Compounder €32.89 €35.16 €37.01 72
Growth Earnings
Growth-Adj P/E €37.47 €53.52 €69.58 68

Widest divergence: Multiples (€55.91) versus Dividend Discount (€18.35). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) €836M
Revenue growth (YoY) +5.4%
Net margin 1.6%
Return on equity 4.2%
Free cash flow −€16.5M FY2025
P/E ratio 11.9
More key figures
Operating margin 2.8%
EPS (TTM) €2.02
Dividend yield 6.1%
EPS growth (YoY) -88.3%
Net debt €9.5M FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 51/100

Of which business quality 51 · Market factors (momentum, volatility) 47

Profitability 56
Margins and returns on capital today
Quality Growth 39
Are margins and returns improving?
Cashflow 31
Earnings quality: real cash, not paper profit
Fin. Strength 46
Balance sheet, leverage, solvency risk
Investment 74
Disciplined investing over empire-building
Low Volatility 90
Calm price path (market factor)
Momentum 34
Price trend over the last 3–12 months (market factor)
52W Momentum 20
Distance to the 52-week high (market factor)
Net Issuance 72
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Fleury Michon SA produces and sells food products in France and internationally. It offers prepared meals; vegetable slices; roasts, pastrami, and pan-fried meats; chicken and turkey breast; halal products; ingredients for cooking; pork ham; surimi; pasta, risotto, and stir-fried products; gratins and parmentiers; pisces; meats and poultry; chesse; and …

Full company description

Fleury Michon SA produces and sells food products in France and internationally. It offers prepared meals; vegetable slices; roasts, pastrami, and pan-fried meats; chicken and turkey breast; halal products; ingredients for cooking; pork ham; surimi; pasta, risotto, and stir-fried products; gratins and parmentiers; pisces; meats and poultry; chesse; and wooden trays. The company was founded in 1905 and is based in Pouzauges, France.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Fleury Michon SA reported revenue of €836M in FY2025 versus €706M in FY2021, a compound +4.3%/yr. Reported net income was €13.6M in FY2025, compounding +35.7%/yr from FY2021.

Growth Quality 31/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€836M
Latest YoY
+3.6%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+1.7%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+2.6%
Avg. growth/yr (23Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+1.8%
Revenue +4.3%/yr
FY21 €706M
FY22 €795M
FY23 €836M
FY24 €807M
FY25 €836M
Net income +35.7%/yr
FY21 €4.0M
FY22 €2.4M
FY23 €10.3M
FY24 €47.7M
FY25 €13.6M
Character of growth · EPS growth decomposed (2014-2025) +3.1 % p.a.
Revenue per share +0.8 pp

of which total revenue +1.3 pp · buybacks/dilution −0.5 pp

EBIT margin −8.5 pp
Tax rate +4.5 pp
Residual (interest, one-offs) +6.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Fleury Michon SA Fair Value". https://www.fairvalue-calculator.com/stock/ALFLE

Peer Group

Packaged Foods · 649 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 51 · Below median
Fair Value upside +149% · Top 25%
Return on equity (TTM) 4% · Below median
Return on assets 1% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 3% · Below median
Revenue growth 5% · Above median
Dividend yield (TTM) 6.2% · Top 25%
Debt / equity 0.67× · Higher than 75% of peers

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 10.7× · Cheaper than 75% of peers
P/B 0.51× · Cheaper than 75% of peers
P/S (TTM) 0.12× · Cheaper than 75% of peers
EV/EBITDA 1.0× · Cheaper than 75% of peers
PEG 2.10× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 28
FUTURE 27 · sector 20
PAST 17 · sector 27
HEALTH 67 · sector 96
DIVIDEND 100 · sector 47

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Fleury Michon SA (ALFLE) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of €53.52 versus a price of €21.50, about +149% (undervalued).
What is the fair value of ALFLE?
Our model-based fair value for Fleury Michon SA is €53.52 (as of Jul 18, 2026), built from audited fundamentals. The current price is €21.50.
What is the quality score of ALFLE?
Fleury Michon SA has a Quality Score of 51/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Fleury Michon SA (ALFLE)?
Fleury Michon SA reported trailing-twelve-month revenue of about €836M (latest available figure, as of Jul 18, 2026).
What is the net profit margin of ALFLE?
The net profit margin of Fleury Michon SA is about 1.6%, meaning it keeps roughly 1.6% of revenue as net income. Based on the latest reported figures.
Does Fleury Michon SA pay a dividend?
Fleury Michon SA currently shows a dividend yield of about 6.08% relative to its recent price (as of Jul 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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