ABEO — Abeo SAConsumer Cyclical · LeisureEURONEXT

€72.1M

Mkt Cap

€164.5M

Ent. Value

-€92.3M

Net Cash

€8.72

52W €8 – €10

€72.1M

Mkt Cap

€164.5M

Ent. Value

-€92.3M

Net Cash

8.5×

P/E TTM

—

PEG

4.3×

P/FCF

0.6×

P/Book

0.3×

P/Sales

6.2×

EV/EBITDA

11.0×

EV/EBIT

7.7×

EV/FCF

0.7×

EV/Sales

10.9%

Earn Yld

23.0%

FCF Yld

3.8%

Div Yld

€8.72

All values in Euros (EUR)

EUR	FY2025	FY2024	FY2023	FY2022
Revenue	248.70M	248.39M	238.29M	205.31M
YoY Growth	+0.1%	+4.2%	+16.1%	—
Gross Profit	156.19M	152.95M	143.90M	125.51M
Gross Margin	62.8%	61.6%	60.4%	61.1%
R&D	—	—	—	—
SG&A	—	—	—	39.99M
EBIT	15.02M	13.58M	15.56M	15.14M
EBIT Margin	6.0%	5.5%	6.5%	7.4%
D&A	12.92M	10.57M	12.76M	11.27M
EBITDA	26.46M	27.29M	26.46M	25.98M
EBITDA Margin	10.6%	11.0%	11.1%	12.7%
Net Income	6.34M	1.70M	6.73M	7.20M
Net Margin	2.6%	0.7%	2.8%	3.5%
EPS (diluted)	€0.84	€0.23	€0.89	€0.96
Shares (dil., M)	8	8	8	8

Company Brief

Abéo SA engages in the design, manufacture, and distribution of sports and leisure equipment in France and internationally. It offers gymnastics equipment and facilities, gym mats, team sports equipment, physical education, trampoline parks, and artificial climbing walls, as well as changing room layouts, cabins, and lockers. It offers its products under the Adec Sport, BigAirBag, Bosan, Brick, Cannice, Erhard Sport, Eurogym, Gymnova, Janssen-Fritsen, PCV Collectivités, Schelde Sports, Sodex Sport, Spieth, Sportsafe, Climbat, Clip 'n Climb, Dock39, Eli Play, EP Climbing, Fun Spot, SED, France Equipment, Meta, Navic, Prospec, Sanélite, and Sanitec brands. The company was founded in 1955 and is headquartered in Rioz, France.

CEOMr. Olivier EstevesEmployees1,652IPO Date2016-10-11CountryFranceWebsitewww.groupe-abeo.fr

Margins (TTM)

Gross Margin	61.4%
EBITDA Margin	10.7%
EBIT Margin	6.1%
Net Margin	3.0%
FCF Margin	6.4%

Returns on Capital

ROIC	6.3%
ROCE	7.7%
ROE	7.0%
ROA	2.6%
Asset Turnover	0.88×

Earnings Quality

FCF / Net Income	336.5%
SBC / Net Income	0.6%
SBC / Revenue	0.0%
Capex / D&A	0.40×

Growth (CAGR)

Metric	3yr
Revenue	6.6%
EPS	-4.3%
FCF	0.3%
Dividend	—

Ownership

Float	5.2%
Shares Out.	8.3M
Insiders %	16.8%
Institutions %	71.3%
Institutions (of float)	85.8%
Institution holders	143
Insider net buy 6M	+0.1%

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Balance Sheet

Cash & ST Invest.	€14.9M
Total Debt	€99.8M
Net Cash / (Debt)	-€92.3M
Total Assets	€298.8M
Total Equity	€113.4M
Goodwill & Intang.	€133.4M
Tangible Book Value	-€20.0M
NCAV (Graham)	-€92.0M
Tangible Book/sh	-€2.42
NCAV/sh	-€11.12

Leverage

D/E Ratio	0.88×
Net Debt / EBITDA	3.28×
Interest Coverage	2.70×
Current Ratio	1.03×
Quick Ratio	0.64×

Capital Allocation (last FY)

Capex	€5.1M
Capex / Revenue	2.1%
SBC	€41K
Dividends Paid	€1.5M
Buybacks	—

Dividends

Annual DPS	€0.33
Yield (fwd)	3.78%
Payout Ratio	31.7%
Ex-div Date	2025-07-28

Valuation vs History

P/E vs 4Y	8.5×vs 5.7× median
Div yield vs 10Y	378.0%vs 4.5% median

Buyback History

FY 2025—+0.2%

FY 2024—-0.1%

FY 2023—+0.5%

FY 2022——

Margins (TTM)

Gross Margin	61.4%
EBITDA Margin	10.7%
EBIT Margin	6.1%
Net Margin	3.0%
FCF Margin	6.4%

Returns on Capital

ROIC	6.3%
ROCE	7.7%
ROE	7.0%
ROA	2.6%
Asset Turnover	0.88×

Earnings Quality

FCF / Net Income	336.5%
SBC / Net Income	0.6%
SBC / Revenue	0.0%
Capex / D&A	0.40×

Growth (CAGR)

Metric	3yr
Revenue	6.6%
EPS	-4.3%
FCF	0.3%
Dividend	—

Ownership

Float	5.2%
Shares Out.	8.3M
Insiders %	16.8%
Institutions %	71.3%
Institutions (of float)	85.8%
Institution holders	143
Insider net buy 6M	+0.1%

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€8.72

All values in Euros (EUR)

EUR	FY2025	FY2024	FY2023	FY2022
Revenue	248.70M	248.39M	238.29M	205.31M
YoY Growth	+0.1%	+4.2%	+16.1%	—
Gross Profit	156.19M	152.95M	143.90M	125.51M
Gross Margin	62.8%	61.6%	60.4%	61.1%
R&D	—	—	—	—
SG&A	—	—	—	39.99M
EBIT	15.02M	13.58M	15.56M	15.14M
EBIT Margin	6.0%	5.5%	6.5%	7.4%
D&A	12.92M	10.57M	12.76M	11.27M
EBITDA	26.46M	27.29M	26.46M	25.98M
EBITDA Margin	10.6%	11.0%	11.1%	12.7%
Net Income	6.34M	1.70M	6.73M	7.20M
Net Margin	2.6%	0.7%	2.8%	3.5%
EPS (diluted)	€0.84	€0.23	€0.89	€0.96
Shares (dil., M)	8	8	8	8

Company Brief

CEOMr. Olivier EstevesEmployees1,652IPO Date2016-10-11CountryFranceWebsitewww.groupe-abeo.fr

Balance Sheet

Cash & ST Invest.	€14.9M
Total Debt	€99.8M
Net Cash / (Debt)	-€92.3M
Total Assets	€298.8M
Total Equity	€113.4M
Goodwill & Intang.	€133.4M
Tangible Book Value	-€20.0M
NCAV (Graham)	-€92.0M
Tangible Book/sh	-€2.42
NCAV/sh	-€11.12

Leverage

D/E Ratio	0.88×
Net Debt / EBITDA	3.28×
Interest Coverage	2.70×
Current Ratio	1.03×
Quick Ratio	0.64×

Capital Allocation (last FY)

Capex	€5.1M
Capex / Revenue	2.1%
SBC	€41K
Dividends Paid	€1.5M
Buybacks	—

Dividends

Annual DPS	€0.33
Yield (fwd)	3.78%
Payout Ratio	31.7%
Ex-div Date	2025-07-28

Valuation vs History

P/E vs 4Y	8.5×vs 5.7× median
Div yield vs 10Y	378.0%vs 4.5% median

Buyback History

FY 2025—+0.2%

FY 2024—-0.1%

FY 2023—+0.5%

FY 2022——

Not investment adviceUpdated 4/17/2026