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Fountaine Pajot SA (ALFPC) Fair Value & Analysis

Consumer Cyclical · FR · Market cap €150M

FP Fountaine Pajot SA ALFPC · PA
Price€86.10
Fair Value€258.30
Upside+200.0%
Quality49/100
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Expensive Growth
Thin margins · 9.2% net margin
Low debt · negative free cash flow
Ranks above peers (9/12)
Moderate moat 53/100
Evidence: High Range €180.81 – €325.42 Share as image

Fair value as of: Jul 19, 2026

From 17 valuation models · updated 22 days ago

Fair value updated Jul 19, 2026, revised from €391.98 to €258.30 (−34.1%) since Jun 25, 2026. Share price −0.6% over the past month.

Below-average quality, screening 200% undervalued on our models.

What matters now

  • The price is below even our cautious bear case (€180.81). The market is more pessimistic than our downside scenario.
  • Solid quality (49/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

€135.12 €76.28 Fair Value €258.30 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 19, 2026.

How to read this chart

60‑month range €76.28 – €135.12 · fair‑value band €180.81 – €325.42 · the €86.10 price screens below the €258.30 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 19, 2026.

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Analysis

Fountaine Pajot SA (ALFPC) currently trades at €86.10, while our model-based Fair Value estimate is €258.30, implying the stock looks roughly 200.0% undervalued today. The Quality Score stands at 49/100 (below-average quality), in the Consumer Cyclical 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: high), always confirm before acting.

Over the trailing twelve months, Fountaine Pajot SA generated revenue of €326M at a net margin of 9.2%. Revenue declined 10.1% year over year. It earns a return on equity of 19.1%. The balance sheet holds a net cash position of €86.6M. Fundamentals as of Jul 19, 2026

Our scenario range runs from €180.81 (bear case) to €325.42 (bull case); at €86.10, 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 26% below its 52-week high and 1% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Cyclical peers we cover trades at 6% fair-value upside, at 200%, ALFPC 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 €93.04 €129.03 €487.40 76
ROIC Compounder €151.20 €171.00 €192.49 72
Gordon GGM €17.30 €28.98 €37.62 70
All 17 models by family
DCF Models
Owner Earnings €175.02 €257.54 €384.18 31
Earnings-Based
Graham-Dodd €122.11 €659.85 €914.66 54
Lynch FV €182.77 €261.10 €339.44 50
PEG = 1.0 €182.77 €261.10 €339.44 46
EPV €143.48 €153.75 €162.08 59
Dividend Discount
Gordon GGM €17.30 €28.98 €37.62 70
DDM Multi-Stage €17.30 €27.49 €31.18 61
Multiples
P/E Multiple €296.30 €395.07 €493.84 63
P/S Multiple €174.50 €232.67 €290.84 58
P/B Multiple €228.96 €305.28 €381.60 55
EV/EBIT €327.28 €417.08 €506.87 53
EV/EBITDA €338.18 €431.60 €525.03 54
EV/Revenue €220.77 €290.57 €360.37 43
Asset-Based
NCAV (Graham) €40.32 €54.03 €80.64 50
Economic Profit
Residual Income €93.04 €129.03 €487.40 76
ROIC Compounder €151.20 €171.00 €192.49 72
Growth Earnings
Growth-Adj P/E €274.38 €391.98 €509.57 68

Widest divergence: Growth Earnings (€391.98) versus Dividend Discount (€27.49). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) €326M
Revenue growth (YoY) -10.1%
Net margin 9.2%
Return on equity 19.1%
Free cash flow −€13.9M FY2025
P/E ratio 4,500.0
More key figures
Operating margin 8.8%
EPS (TTM) €0.0200
Dividend yield 2.9%
EPS growth (YoY) -24.6%
Net cash €86.6M FY2025

Figures from reported company fundamentals · as of Jul 19, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 49/100

Of which business quality 49 · Market factors (momentum, volatility) 37

Profitability 57
Margins and returns on capital today
Quality Growth 14
Are margins and returns improving?
Cashflow 8
Earnings quality: real cash, not paper profit
Fin. Strength 85
Balance sheet, leverage, solvency risk
Investment 44
Disciplined investing over empire-building
Low Volatility 81
Calm price path (market factor)
Momentum 27
Price trend over the last 3–12 months (market factor)
52W Momentum 5
Distance to the 52-week high (market factor)
Net Issuance 82
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

Fountaine Pajot SA designs, develops, produces, and sells sailing catamarans, motor catamarans, and monohull for recreational boating markets internationally. It offers sailing catamarans and motor yachts under the Fountaine Pajot brand name; and sailboats under the Dufour brand name. The company was founded in 1976 and is based in Aigrefeuille, France. S.A.

Full company description

Fountaine Pajot SA designs, develops, produces, and sells sailing catamarans, motor catamarans, and monohull for recreational boating markets internationally. It offers sailing catamarans and motor yachts under the Fountaine Pajot brand name; and sailboats under the Dufour brand name. The company was founded in 1976 and is based in Aigrefeuille, France. S.A. Fountaine Pajot SA operates as a subsidiary of La Compagnie Du Catamaran SAS.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Fountaine Pajot SA reported revenue of €323M in FY2025 versus €202M in FY2021, a compound +12.4%/yr. Reported net income was €29.9M in FY2025, compounding +26.7%/yr from FY2021.

Growth Quality 56/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
€323M
Latest YoY
−8.0%
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.
+13.7%
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.
+13.3%
Avg. growth/yr (22Y) 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.
+10.7%
Revenue +12.4%/yr
FY21 €202M
FY22 €220M
FY23 €277M
FY24 €351M
FY25 €323M
Net income +26.7%/yr
FY21 €11.6M
FY22 €15.9M
FY23 €11.4M
FY24 €33.5M
FY25 €29.9M
Character of growth · EPS growth decomposed (2014-2025) +25.1 % p.a.
Revenue per share +20.0 pp

of which total revenue +20.1 pp · buybacks/dilution +0.0 pp

EBIT margin −0.9 pp
Tax rate +1.0 pp
Residual (interest, one-offs) +5.0 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). "Fountaine Pajot SA Fair Value". https://www.fairvalue-calculator.com/stock/ALFPC

Peer Group

Recreational Vehicles · 37 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 49 · Above median
Fair Value upside +200% · Top 25%
Return on equity (TTM) 19% · Top 25%
Return on assets 7% · Top 25%
Net margin (TTM) 9% · Top 25%
Operating margin (TTM) 9% · Top 25%
Revenue growth -10% · Below median
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.24× · Higher than median

Valuation Multiples vs Recreational Vehicles median · lower = cheaper

P/B 1.29× · Cheaper than median
P/S (TTM) 0.53× · Cheaper than median
EV/EBITDA 1.8× · Cheaper than 75% of peers

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 33
FUTURE 0 · sector 15
PAST 77 · sector 18
HEALTH 88 · sector 88
DIVIDEND 0 · sector 57

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 Recreational Vehicles stocks, each showing price versus our Fair Value estimate (as of Jul 19, 2026).

Stock Price Fair Value vs Fair Value
Zhejiang Cfmoto Power Co 603129 ¥293.01 ¥199.10 -32%
Brunswick Corporation BC $80.45 $16.76 -79%
BRP Inc DOO C$85.96 C$86.81 +1%
Polaris Inc PII $67.40 $29.83 -56%
THOR Industries, Inc THO $72.86 $97.14 +33%
Trigano S.A TRI €149.60 €273.48 +83%
Patrick Industries, Inc PATK $82.70 $85.54 +3%
Harley-Davidson, Inc HOG $26.81 $64.09 +139%
LCI Industries, LCII $108.17 $156.35 +45%
Sanlorenzo S.p.A SL €38.30 €40.65 +6%

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Frequently asked questions

Is Fountaine Pajot SA (ALFPC) overvalued or undervalued?
As of Jul 19, 2026, our model estimates a fair value of €258.30 versus a price of €86.10, about +200% (undervalued).
What is the fair value of ALFPC?
Our model-based fair value for Fountaine Pajot SA is €258.30 (as of Jul 19, 2026), built from audited fundamentals. The current price is €86.10.
What is the quality score of ALFPC?
Fountaine Pajot SA has a Quality Score of 49/100. 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 Fountaine Pajot SA (ALFPC)?
Fountaine Pajot SA reported trailing-twelve-month revenue of about €326M (latest available figure, as of Jul 19, 2026).
What is the net profit margin of ALFPC?
The net profit margin of Fountaine Pajot SA is about 9.2%, meaning it keeps roughly 9.2% of revenue as net income. Based on the latest reported figures.
Does Fountaine Pajot SA pay a dividend?
Fountaine Pajot SA currently shows a dividend yield of about 2.86% relative to its recent price (as of Jul 19, 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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