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PAULIC Meunerie SA (ALPAU) Fair Value & Analysis

Consumer Defensive · FR · Market cap €7.0M

PM PAULIC Meunerie SA ALPAU · PA
Price€1.44
Fair Value€1.11
Upside-22.9%
Quality57/100
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Mixed Growth
Thin margins · 1.3% net margin
Low debt · generates free cash flow
Trails peers (5/13)
Narrow moat 31/100
Evidence: High Range €0.6800 – €1.39 Share as image

Fair value as of: Jul 12, 2026

From 24 valuation models · updated 29 days ago

Share price −6.5% over the past month.

A solid business, but screening 23% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (€1.39). The favourable scenario is already priced in.
  • Solid but not exceptional quality (57/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (€0.6800 to €1.39) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€8.96 €0.8340 Fair Value €1.11 Jun 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range €0.8340 – €8.96 · fair‑value band €0.6800 – €1.39 · the €1.44 price screens above the €1.11 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

PAULIC Meunerie SA (ALPAU) currently trades at €1.44, while our model-based Fair Value estimate is €1.11, implying the stock looks roughly 22.9% overvalued today. The Quality Score stands at 57/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, PAULIC Meunerie SA generated revenue of €18.7M at a net margin of 1.3%. Revenue grew 4.8% year over year. It earns a return on equity of 3.5%. Net debt stands at €5.7M. Fundamentals as of Jul 12, 2026

Our scenario range runs from €0.6800 (bear case) to €1.39 (bull case); at €1.44, the current price sits above 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 20% below its 52-week high and 47% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -23%, ALPAU screens richer 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
Growth DCF €0.5600 €1.10 €1.76 80
Rev-Margin DCF €0.5400 €1.29 €2.18 74
ROIC Compounder €0.2000 €0.3100 €0.4000 72
All 24 models by family
DCF Models
FCF DCF €0.5700 €1.15 €1.92 38
Owner Earnings €2.16 €3.46 €5.17 31
5Y Revenue Exit €0.5400 €1.28 €2.24 39
5Y EBITDA Exit €2.09 €4.26 €6.88 41
5Y P/E Exit €0.2500 €0.7200 €1.22 38
10Y Revenue Exit €0.5000 €1.13 €1.98 36
10Y EBITDA Exit €1.39 €2.92 €5.10 37
10Y P/E Exit €0.3700 €0.7900 €1.29 35
Earnings-Based
Graham-Dodd €0.3600 €1.30 €1.76 54
Lynch FV €0.3100 €0.4400 €0.5700 50
PEG = 1.0 €0.3100 €0.4400 €0.5700 46
EPV €0.2000 €0.3100 €0.4000 59
Multiples
P/E Multiple €0.8400 €1.11 €1.39 63
P/S Multiple €0.6800 €0.9000 €1.13 58
P/B Multiple €0.6800 €0.9000 €1.13 55
EV/EBIT €1.12 €1.73 €2.34 53
EV/EBITDA €3.72 €5.20 €6.68 54
EV/Revenue €0.5900 €1.15 €1.72 43
Asset-Based
NCAV (Graham) €0.7700 €1.03 €1.53 50
Growth DCF
Growth DCF €0.5600 €1.10 €1.76 80
Rev-Margin DCF €0.5400 €1.29 €2.18 74
Economic Profit
Residual Income €1.01 €0.9500 €0.7200 61
ROIC Compounder €0.2000 €0.3100 €0.4000 72
Growth Earnings
Growth-Adj P/E €0.5900 €0.8400 €1.09 68

Widest divergence: DCF Models (€1.15) versus Economic Profit (€0.3100). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €18.3M
Revenue growth (YoY) +3.3%
Net margin 1.3%
Return on equity 3.5%
Free cash flow €693K FY2025
P/E ratio 25.4
More key figures
Operating margin 5.9%
EPS (TTM) €0.0600
Net debt €5.7M FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 57/100

Of which business quality 55 · Market factors (momentum, volatility) 51

Profitability 31
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 30
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 48
Calm price path (market factor)
Momentum 54
Price trend over the last 3–12 months (market factor)
52W Momentum 50
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

PAULIC Meunerie SA produces and sells wheat and buckwheat flour for professionals in the bakery, creperie, and food industries in France and internationally. It offers product technology, Wheat and flour analysis, and communication services. The company was formerly known as Minoterie PAULIC. The company was founded in 1957 and is based in Pontivy, France.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PAULIC Meunerie SA reported revenue of €18.3M in FY2025 versus €11.3M in FY2021, a compound +12.9%/yr. Reported net income was €245K in FY2025.

Growth Quality 79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
€18.3M
Latest YoY
−4.5%
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.
−0.6%
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.
+15.4%
Avg. growth/yr (8Y) 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.
+8.9%
Revenue +12.9%/yr
FY21 €11.3M
FY22 €18.7M
FY23 €21.8M
FY24 €19.2M
FY25 €18.3M
Net income
FY21 −€1.4M
FY22 −€1.1M
FY23 −€68.2K
FY24 −€547K
FY25 €245K

ALPAU screens 23% overvalued. Compare with Nestlé India Limited →

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Cite: Fair Value Calculator (2026). "PAULIC Meunerie SA Fair Value". https://www.fairvalue-calculator.com/stock/ALPAU

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 57 · Above median
Fair Value upside −23% · Below median
Return on equity (TTM) 4% · Below median
Return on assets 2% · Below median
Net margin (TTM) 1% · Below median
Operating margin (TTM) 6% · Above median
Revenue growth 3% · Below median
Debt / equity 0.48× · Higher than 75% of peers

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 25.4× · Pricier than median
P/B 1.15× · Cheaper than median
P/S (TTM) 0.44× · Cheaper than median
P/FCF 11.7× · Pricier than 75% of peers
EV/EBITDA 5.8× · Cheaper 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 3 · sector 28
FUTURE 17 · sector 20
PAST 14 · sector 27
HEALTH 76 · sector 96
DIVIDEND 0 · 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 12, 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 PAULIC Meunerie SA (ALPAU) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of €1.11 versus a price of €1.44, about −23% (overvalued).
What is the fair value of ALPAU?
Our model-based fair value for PAULIC Meunerie SA is €1.11 (as of Jul 12, 2026), built from audited fundamentals. The current price is €1.44.
What is the quality score of ALPAU?
PAULIC Meunerie SA has a Quality Score of 57/100. 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 PAULIC Meunerie SA (ALPAU)?
PAULIC Meunerie SA reported trailing-twelve-month revenue of about €18.7M (latest available figure, as of Jul 12, 2026).
What is the net profit margin of ALPAU?
The net profit margin of PAULIC Meunerie SA is about 1.3%, meaning it keeps roughly 1.3% of revenue as net income. Based on the latest reported figures.

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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