Financials NSE

Equities

ALNSE

FR0004065639

Electronic Equipment & Parts

Market Closed - Euronext Paris Other stock markets 11:29:05 2024-05-20 am EDT			5-day change	1st Jan Change
25.1 ^EUR	+2.45%		+2.87%	+0.40%

Apr. 30	NSE S.A. Reports Earnings Results for the Full Year Ended December 31, 2023	CI
2023	NSE S.A. Reports Earnings Results for the Half Year Ended June 30, 2023	CI

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2024	2025
Capitalization ¹	27.98	33.92	38.71	61.92	50.8	77.8	-
Enterprise Value (EV) ¹	38.1	39.66	38.71	58.27	50.65	70.4	68.4
P/E ratio	26.2 x	5.8 x	-	15.2 x	16.6 x	16.4 x	13.2 x
Yield	-	-	1.63%	1.13%	-	1.31%	1.63%
Capitalization / Revenue	0.42 x	0.45 x	-	-	0.77 x	0.9 x	0.85 x
EV / Revenue	0.57 x	0.52 x	-	-	0.77 x	0.81 x	0.74 x
EV / EBITDA	7.38 x	3.55 x	-	6.21 x	8.72 x	7.04 x	5.8 x
EV / FCF	109 x	6.66 x	11.2 x	4.77 x	-20.1 x	11.4 x	22.1 x
FCF Yield	0.92%	15%	8.9%	20.9%	-4.97%	8.81%	4.53%
Price to Book	1.38 x	1.32 x	-	1.84 x	1.41 x	1.91 x	1.7 x
Nbr of stocks (in thousands)	3,143	3,141	3,147	3,175	3,175	3,176	-
Reference price ²	8.900	10.80	12.30	19.50	16.00	24.50	24.50
Announcement Date	4/26/19	4/17/20	4/30/21	4/29/22	4/28/23	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2024	2025
Net sales ¹	66.7	76.04	-	-	65.57	86.6	92
EBITDA ¹	5.16	11.18	-	9.386	5.811	10	11.8
EBIT ¹	2.276	9.441	-	6.53	3.671	6.7	8.4
Operating Margin	3.41%	12.42%	-	-	5.6%	7.74%	9.13%
Earnings before Tax (EBT) ¹	1.59	8.834	-	6.01	3.627	6.7	8.4
Net income ¹	1.086	5.855	-	3.953	3.056	5	6.3
Net margin	1.63%	7.7%	-	-	4.66%	5.77%	6.85%
EPS ²	0.3392	1.861	-	1.286	0.9629	1.490	1.860
Free Cash Flow ¹	0.351	5.958	3.446	12.2	-2.516	6.2	3.1
FCF margin	0.53%	7.84%	-	-	-3.84%	7.16%	3.37%
FCF Conversion (EBITDA)	6.8%	53.31%	-	130.03%	-	62%	26.27%
FCF Conversion (Net income)	32.32%	101.76%	-	308.75%	-	124%	49.21%
Dividend per Share ²	-	-	0.2000	0.2200	-	0.3200	0.4000
Announcement Date	4/26/19	4/17/20	4/30/21	4/29/22	4/28/23	-	-

¹EUR in Million²EUR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2024	2025
Net Debt ¹	10.1	5.74	-	-	-	-	-
Net Cash position ¹	-	-	-	3.65	0.15	7.4	9.4
Leverage (Debt/EBITDA)	1.961 x	0.5137 x	-	-	-	-	-
Free Cash Flow ¹	0.35	5.96	3.45	12.2	-2.52	6.2	3.1
ROE (net income / shareholders' equity)	5.51%	25.5%	-	13%	8.77%	11.6%	12.9%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-
Book Value Per Share ²	6.430	8.190	-	10.60	11.30	12.80	14.40
Cash Flow per Share ²	1.170	3.000	1.750	4.800	1.460	2.500	2.900
Capex ¹	1.02	1.33	2.08	3.05	1.77	4.4	4.1
Capex / Sales	1.52%	1.75%	-	-	2.7%	5.08%	4.46%
Announcement Date	4/26/19	4/17/20	4/30/21	4/29/22	4/28/23	-	-

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

Analysts' Consensus

Sell

Consensus

Buy

Mean consensus

HOLD

Number of Analysts

1

Last Close Price

24.5 EUR

Average target price

25.8 EUR

Spread / Average Target

+5.31%

EPS Revisions

Estimates Revisions

Annual profits - Rate of surprise

Company calendar

Sector Advanced Electronic Equipment

	1st Jan change	Capi.
NSE	-0.40%	84.59M
KEYSIGHT TECHNOLOGIES, INC.	+0.80%	27.46B
UBTECH ROBOTICS CORP LTD	+93.95%	2.73B
RAINBOW ROBOTICS CO.,LTD.	-0.57%	2.51B
ZHE JIANG DALI TECHNOLOGY CO.,LTD	+17.96%	1.11B
QUICK INTELLIGENT EQUIPMENT CO.,LTD.	-24.56%	758M
HESAI GROUP	-39.51%	657M
HANGZHOU JINGYE INTELLIGENT TECHNOLOGY CO., LTD.	-26.88%	487M
SHENZHEN GENVICT TECHNOLOGIES CO., LTD.	-12.55%	425M
NORBIT ASA	+18.42%	379M

Advanced Electronic Equipment

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