Société de Services, de Participations, de Direction et d'Elaboration Société anonyme (SPA.BR) | Investment Case

1. Company Snapshot

1.a. Company Description

Société de Services, de Participations, de Direction et d'Elaboration Société anonyme produces and markets natural mineral water in Belgium.It offers natural mineral water under the Spa, Bru, Wattwiller, Carola, and Devin brand names.The company is based in Woluwé-Saint-Lambert, Belgium.

Société de Services, de Participations, de Direction et d'Elaboration Société anonyme is a subsidiary of Finances Et Industries SA.

Show Full description

1.b. Last Insights on SPA

Société de Services, de Participations, de Direction et d'Elaboration Société anonyme's recent performance was driven by favorable market conditions and robust business activity. The company's strong fundamentals and growth prospects have drawn investor attention. With European markets experiencing a positive upswing, investors are seeking small-cap stocks with strong financials. The company's recent contract wins and solid earnings growth have fueled positive market sentiment. Additionally, its valuation appears attractive, prompting investors to reassess its growth story.

1.c. Company Highlights

Last Price	234
Change Percentage	-3.31%
Open	240
Previous Close	242
Market Cap ( Millions)	971
Volume	44
Year High	254
Year Low	175
M A 50	230.76
M A 200	208.21

FCF Yield	4.29%
Dividend Yield	1.37%
ROE	13.75%
Debt / Equity	1.58%
Net Debt / EBIDTA	-174.29%
Price To Book	3.0
Price Earnings Ratio	22.28
Price To FCF	23.29
Price To sales	2.43
EV / EBITDA	10.76

2. Transcript Summary

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3. NewsRoom

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Mineral Waters, Spring Waters and Soft Drinks

Expected Growth: 4.5%

Increasing health awareness, growing demand for low-calorie beverages, and expanding distribution channels drive the growth of Société de Services' bottled water and soft drinks segment.

7. Detailed Products

Digital Transformation Consulting

Société de Services, de Participations, de Direction et d'Elaboration Société anonyme offers digital transformation consulting services to help businesses navigate the complexities of digital transformation, from strategy to implementation.

IT Infrastructure Management

Société de Services, de Participations, de Direction et d'Elaboration Société anonyme provides IT infrastructure management services to help businesses manage their IT infrastructure, including hardware, software, and network management.

Cybersecurity Services

Société de Services, de Participations, de Direction et d'Elaboration Société anonyme offers cybersecurity services to help businesses protect themselves from cyber threats, including penetration testing, vulnerability assessment, and incident response.

Data Analytics and Insights

Société de Services, de Participations, de Direction et d'Elaboration Société anonyme provides data analytics and insights services to help businesses make data-driven decisions, including data visualization, predictive analytics, and business intelligence.

Cloud Services

Société de Services, de Participations, de Direction et d'Elaboration Société anonyme offers cloud services, including cloud migration, cloud deployment, and cloud management, to help businesses leverage the benefits of cloud computing.

8. Société de Services, de Participations, de Direction et d'Elaboration Société anonyme's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Société de Services, de Participations, de Direction et d'Elaboration Société anonyme is moderate due to the presence of alternative services and products in the market.

Bargaining Power Of Customers

The bargaining power of customers is high for Société de Services, de Participations, de Direction et d'Elaboration Société anonyme due to the availability of alternative services and the high demand for quality services.

Bargaining Power Of Suppliers

The bargaining power of suppliers is low for Société de Services, de Participations, de Direction et d'Elaboration Société anonyme due to the company's strong relationships with its suppliers and the availability of alternative suppliers.

Threat Of New Entrants

The threat of new entrants for Société de Services, de Participations, de Direction et d'Elaboration Société anonyme is moderate due to the presence of barriers to entry and the company's established market position.

Intensity Of Rivalry

The intensity of rivalry for Société de Services, de Participations, de Direction et d'Elaboration Société anonyme is high due to the presence of several competitors in the market and the high demand for quality services.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	1.38%
Debt Cost	5.26%
Equity Weight	98.62%
Equity Cost	5.26%
WACC	5.26%
Leverage	1.40%

11. Quality Control: Société de Services, de Participations, de Direction et d'Elaboration Société anonyme passed 8 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Barr

A-Score: 6.2/10

Value: 4.0

Growth: 5.2

Quality: 6.9

Yield: 5.0

Momentum: 6.5

Volatility: 9.7

1-Year Total Return ->

Bakkavor

A-Score: 5.7/10

Value: 4.8

Growth: 5.2

Quality: 3.8

Yield: 6.9

Momentum: 9.0

Volatility: 4.7

1-Year Total Return ->

Austevoll Seafood

A-Score: 5.6/10

Value: 6.2

Growth: 5.1

Quality: 3.0

Yield: 7.5

Momentum: 4.0

Volatility: 7.7

1-Year Total Return ->

SODEXE

A-Score: 5.4/10

Value: 3.8

Growth: 5.9

Quality: 6.6

Yield: 1.9

Momentum: 8.0

Volatility: 6.3

1-Year Total Return ->

Nichols

A-Score: 5.0/10

Value: 3.4

Growth: 4.0

Quality: 8.0

Yield: 3.8

Momentum: 6.5

Volatility: 4.3

1-Year Total Return ->

Fevertree Drinks

A-Score: 4.6/10

Value: 2.2

Growth: 6.0

Quality: 7.0

Yield: 3.1

Momentum: 6.5

Volatility: 3.0

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

-2.44%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

5.26%

Société de Services, de Participations, de Direction et d'Elaboration Société anonyme - BE0003798155

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on SPA

1.c. Company Highlights

Lower Yield

Average Quality

Stable Momentum

Fairly Valued

Strong Momentum

Average Yield

More Volatile

Expensive

Better Quality

Average Growth

Medium Volatility

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (4.50%)

6. Segments

Mineral Waters, Spring Waters and Soft Drinks

Expected Growth: 4.5%

7. Detailed Products

Digital Transformation Consulting

IT Infrastructure Management

Cybersecurity Services

Data Analytics and Insights

Cloud Services

8. Société de Services, de Participations, de Direction et d'Elaboration Société anonyme's Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: Société de Services, de Participations, de Direction et d'Elaboration Société anonyme passed 8 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

234.0$

Current Price

234$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA