olivLaw · European equity research
Elior Group ELIOR.PA
France · Euronext Paris · ISIN FR0011950732 · Vertical: Listed companies from France
Elior Group is a European and international operator of contract catering and facility services, serving millions of people across life stages from early childhood to elderly care. Its exposure to climate pressures and to customer demands for sustainability makes these services increasingly relevant, as described in its annual report for the year ended 30 September 2025.
At the close of 05 Nov 2026, Elior Group (ELIOR.PA) stock was 1.92 EUR (+0.94% on the day), with market capitalisation 497.7 m EUR, P/E 5.7 on diluted EPS of 0.34 EUR over the last 12 months, beta 0.79, 52-week range 1.75–2.99 EUR.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 63.3
- strong (55–70)
- Bollinger (20, 2)
- 1.72 – 1.92
- above the upper band · %B 1.02 · band width 10.8%
- SMA 50 / 200
- 1.87 / 2.24
- mixed trend
- MACD (12, 26, 9)
- 0.01 / -0.01
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +9.3% | −0.6% | +9.9 pp | — |
| 3 months | −7.2% | −4.2% | −3.0 pp | — |
| 6 months | −30.5% | +4.3% | −34.8 pp | — |
| Year to date | −29.9% | +7.5% | −37.4 pp | — |
| 1 year | −30.5% | +9.9% | −40.4 pp | −6.8% |
| 3 years | +3.6% | +49.8% | −46.3 pp | −15.9% |
| 5 years | −71.0% | +42.8% | −113.9 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 0 percentile of its own 1-quarter history (min 7.8, median 7.8, max 7.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 5.2 bn | 6.1 bn | 6.2 bn |
| Revenue YoY | unavailable | +15.9% | +1.6% |
| Net income | -93.0 m | -46.0 m | 88.0 m |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | -0.45 | -0.18 | 0.34 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | -1.8% | -0.8% | 1.4% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 30 Sept 2025
- Cash
- 195.0 m EUR
- Financial debt
- 665.0 m EUR
- Net debt
- 470.0 m EUR
- Equity
- 836.0 m EUR
- Total assets
- 3.8 bn EUR
- Debt / equity
- 0.80x
- Current ratio
- 0.56x
- ROE
- 11.0%
- ROA
- 2.3%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (EUR)
Margins
Income statement · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 5.2 bn | 6.1 bn | 6.2 bn | esef· 08 Jan 2026verified |
| Interest expense | 88.0 m | 122.0 m | 141.0 m | esef· 08 Jan 2026verified |
| Pre-tax income | -126.0 m | -10.0 m | 65.0 m | esef· 08 Jan 2026verified |
| Income tax | -29.0 m | 36.0 m | -22.0 m | esef· 08 Jan 2026verified |
| Net income | -93.0 m | -46.0 m | 88.0 m | esef· 08 Jan 2026verified |
| Diluted EPS | -0.45 | -0.18 | 0.34 | esef· 08 Jan 2026verified |
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 45.0 m | 142.0 m | 195.0 m | esef· 08 Jan 2026verified |
| Receivables | 975.0 m | 858.0 m | 783.0 m | esef· 08 Jan 2026verified |
| Inventories | 107.0 m | 99.0 m | 99.0 m | esef· 08 Jan 2026verified |
| Current assets | 1.2 bn | 1.2 bn | 1.2 bn | esef· 08 Jan 2026verified |
| Property, plant & equipment, net | 258.0 m | 277.0 m | 329.0 m | esef· 08 Jan 2026verified |
| Goodwill | 1.7 bn | 1.7 bn | 1.7 bn | esef· 08 Jan 2026verified |
| Intangibles (excl. goodwill) | 257.0 m | 221.0 m | 198.0 m | esef· 08 Jan 2026verified |
| Total assets | 3.8 bn | 3.8 bn | 3.8 bn | esef· 08 Jan 2026verified |
| Long-term debt | 967.0 m | 887.0 m | 665.0 m | esef· 08 Jan 2026verified |
| Current liabilities | 1.8 bn | 1.9 bn | 2.1 bn | esef· 08 Jan 2026verified |
| Total liabilities | 3.0 bn | 3.0 bn | 2.9 bn | esef· 08 Jan 2026verified |
| Equity | 841.0 m | 766.0 m | 836.0 m | esef· 08 Jan 2026verified |
| Shares outstanding at year end | 206.7 m | 255.6 m | 258.8 m | esef· 08 Jan 2026derived |
Cash flow · EUR
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 27.1% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 497.7 m EUR
Key indicators
Coverage and freshness
The data is older than the freshness threshold.
Score by group
27% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 3.77 – 10.13 EUR.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (EUR per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/E3.77 – 10.13 (Mid 5.82)20 companies used · median multiple 17.1x · quartiles 11.1x – 29.8x74SW.PA, ABEO.PA, AC.PA, ADP.PA, AF.PA, AI.PA, ALBON.PA, ALCIS.PA, ALCLA.PA, ALFER.PA, ALHEX.PA, ALO.PA, ALPWG.PA, ALSOG.PA, ANTIN.PA, ARAMI.PA, ATE.PA, AUB.PA, AURE.PA, BB.PA
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Assumptions (illustrative, editorial)
- Risk-free rate
- 3.0%
- Equity risk premium
- 5.5%
- Beta (default)
- 1.00
- Cost of equity
- 8.5%
- Terminal growth
- 2.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 1.4% | 51 (vs peers) | 23% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 0.6x | 0 (on a fixed band) | 15% |
| P/E (TTM) · Valuation | 5.7x | 91 (vs peers) | 38% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 0.0% | 0 (on a fixed band) | 23% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial0/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial51/100 · 1/3 factors with a value
- Returns· partial0/100 · 1/2 factors with a value
- Valuation· partial91/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ELIOR GROUP (ELIOR.PA). Latest full fiscal year: 2025; data up to 2025-09-30.
Figures computed from the financial statements: revenue 6.2 bn EUR in 2025; YoY growth 1.6%; net margin 1.4%; ROE 11.0%.
The estimated value range is 3.77–10.13 EUR per share (median of 1 methods, agreement: single method); assumptions are illustrative. Against the central value of 5.82 EUR, the price of 1.92 EUR leaves a potential of 202.9% (value / price − 1) and a margin of safety of 67.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- P/E (TTM): 5.7x
- The price is below the estimated value range
What contradicts it
- Current ratio: 0.6x
- Shareholder yield (distributions): 0.0%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, FCF yield, Payout ratio (FCF).
Versus the vertical median
Listed companies from France · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AI.PAL'air Liquide Societe Anonyme Pour L'etude Et L'exploitation Des Procedes Georges Claude | 109.3 bn | 33.2 | 12.9% | 12.2% | −2.0% | +26% / +32% |
| AC.PAAccor | 13.8 bn | 30.7 | 9.6% | 8.0% | +0.6% | +6% / +56% |
| ADP.PAAeroports De Paris | 11.7 bn | 34.1 | 7.8% | 5.6% | +12.1% | −7% / +4% |
| AKE.PAArkema | 7.1 bn | 115.4 | 0.9% | 0.7% | −5.0% | +12% / −37% |
| ALO.PAAlstom | 5.8 bn | 18.3 | 3.1% | 1.7% | +3.7% | −51% / −4% |
| AF.PAAir France - Klm | 4.3 bn | 13.6 | — | 1.0% | +4.8% | +20% / +9% |
| ATE.PAAlten | 3.1 bn | 29.5 | 4.8% | 2.6% | −1.1% | +33% / −29% |
| BB.PASociete Bic | 2.7 bn | 31.3 | 5.0% | 4.1% | −4.8% | +32% / +5% |
| ANTIN.PAAntin Infrastructure Partners | 1.4 bn | 13.0 | 21.9% | 36.6% | −8.1% | −24% / −35% |
| 74SW.PA74software | 792.7 m | 20.9 | 8.9% | 8.5% | +44.8% | −13% / +41% |
| AUB.PAAubay | 667.4 m | 17.8 | 13.6% | 6.3% | +11.3% | +3% / +45% |
| ASY.PAAssystem | 507.1 m | 69.9 | 2.5% | 1.1% | +7.4% | −19% / −18% |
| ELIOR.PAElior Group | 497.7 m | 5.7 | 11.0% | 1.4% | +1.6% | −28% / −18% |
| ATO.PAAtos Se | 483.0 m | — | -23,400.0% | -17.5% | −16.5% | −45% / −94% |
| ARAMI.PAAramis Group | 298.8 m | 15.0 | 10.0% | 0.8% | +6.3% | −33% / −16% |
| ARVEN.PAArverne Group | 246.1 m | — | -14.0% | -115.3% | +27.0% | +20% / −35% |
| BGO.PACompagnie Chargeurs Invest | 189.4 m | — | -8.6% | -5.7% | −2.9% | unavailable / unavailable |
| ALCIS.PACatering International & Services | 145.0 m | 28.4 | 9.3% | 1.9% | +5.8% | +39% / +107% |
| ALCGM.PACegedim | 144.6 m | — | -2.6% | -1.2% | +10.9% | −26% / −49% |
| ATEME.PAAteme | 144.0 m | 151.3 | 2.8% | 1.0% | +2.2% | +82% / +77% |
| ALHEX.PAHexaom | 144.0 m | 6.7 | 9.9% | 2.2% | +13.1% | −32% / +7% |
| ALBON.PACompagnie Lebon | 111.7 m | 16.5 | 4.2% | 8.8% | −17.9% | +6% / +8% |
| ALHYF.PALhyfe | 75.8 m | — | -33.4% | -570.5% | +287.2% | unavailable / unavailable |
| ALFER.PASergeferrari Group | 61.5 m | 11.5 | 5.1% | 1.5% | +7.4% | −33% / −27% |
| ABEO.PAAbeo | 60.8 m | 7.3 | 6.9% | 3.0% | +12.6% | −13% / −54% |
1- and 3-year price returns: for ELIOR.PA from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (EUR)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 1.10 Total return -43% · Per year -43% | 1.95 Total return 2% · Per year 2% | 2.95 Total return 53% · Per year 53% |
| 3 years | 1.01 Total return -48% · Per year -19% | 2.02 Total return 5% · Per year 2% | 3.35 Total return 74% · Per year 20% |
| 5 years | 0.92 Total return -52% · Per year -14% | 2.08 Total return 8% · Per year 2% | 3.81 Total return 98% · Per year 15% |
- Exit P/E± 0.50
- Net margin± 0.35
- Annual revenue growth± 0.30
- Annual dilution± 0.03
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Elior Group is a European and international operator of contract catering and facility services, serving millions of people across life stages from early childhood to elderly care. Its exposure to climate pressures and to customer demands for sustainability makes these services increasingly relevant, as described in its annual report for the year ended 30 September 2025 1.
SWOT
Strengths
- Broad footprint and long-term relationships with institutional clients, plus a service-centred and proximity-based business model 1.
- A formalised sustainability strategy with measurable targets on climate, food waste and responsible purchasing 1.
- Detailed climate analyses of sites and supply chains that support adaptation planning 1.
Weaknesses
- A portion of sites is exposed to acute climate risks such as floods and storms 1.
- Dependence on public and institutional client contracts whose budgets can fluctuate.
- The complexity of recent integration of service activities could weigh on operational performance.
Opportunities
Threats
- Tighter regulation on energy, waste and responsible purchasing that could raise costs 1.
- Agricultural price volatility caused by climate events that could compress margins.
- Competition from global players that may deliver sustainability solutions faster.
Risks
- Physical climate risk to sitesmedium
Some sites are exposed to hazards such as floods, storms or heatwaves, which could interrupt operations 1.
- Input price shockshigh
Drought and frost could raise the prices of staple ingredients, and contracts with clients may not always pass these costs through 1.
- Regulatory non-compliancemedium
Requirements on waste sorting, food waste and deforestation-linked imports need continuous adaptation and could bring penalties if not met 1.
- Shift in client preferencesmedium
If clients reduce animal-product consumption or demand more sustainable offers, existing menus could require costly revision 1.
- Reputational and health risklow
Incidents involving food safety or animal welfare could affect the trust of institutional clients.
Investment thesis
What would need to be true (bull case)
- If the group converts its sustainability targets into won contracts, its position as an integrated service provider could become a durable competitive advantage 1.
- Investment in energy efficiency and climate adaptation could lower operating costs over the medium term 1.
- Rising demand for responsible food could support volumes, especially if the offer adapts quickly 1.
What would break the thesis
- Pressure on raw material prices and climate risks could compress margins if costs cannot be passed on to clients 1.
- Regulatory requirements and compliance costs could rise faster than revenue from new offers.
- Global competition could limit growth if rivals deliver similar solutions more efficiently.
What to watch
- Trend in losses or costs linked to climate events at exposed sitesfiscal 2026
- Pace at which the 55 % EU emissions reduction target is transposed into national law2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
The group defines its purpose through a manifesto centred on the desire to serve and to exceed expectations, a statement that frames both economic performance and social and environmental goals 1. The sustainability strategy 'Aimer sa Terre – Horizon 2030' links these principles to concrete operational decisions, such as responsible purchasing and reduction of food waste 1. The group also works with partners to integrate people with disabilities into employment, reflecting a social responsibility orientation.
Climate exposure is analysed systematically: about 11 % of sites are exposed to one or more climate hazards, and risks differ between Europe, the United States and Asia 1. The company built supply-chain shock scenarios to estimate extra costs from drought, heat or late frost 1. These analyses underpin adaptation measures for the central kitchens and the buildings the group owns.
Segments
Contract catering
The main segment delivers meals to schools, universities, businesses and healthcare and elderly-care institutions. It is also the segment most exposed to regulation on food waste, biowaste and responsible purchasing, which motivates investment in lower-impact offers 1.
Facility and maintenance services
The services arm maintains tertiary and industrial locations, particularly following the combination with Derichebourg Multiservices. Buildings owned by the group are assessed separately in the physical-risk analysis, because their loss would directly affect the associated revenue 1.
Market context
The contract catering market is shaped by demand from public and private institutions, by regulatory requirements on energy, waste and sustainability, and by shifting preferences for local products and lower animal protein 1. If the EU target of at least 55 % lower greenhouse gas emissions by 2030 is transposed quickly into national law, costs for an operator active in the European Union could rise 1. The facility services market is in turn sensitive to energy-efficiency standards and to how clients report scope 3 emissions 1.
Climate pressures make supply chains more volatile, which could raise the prices of staple ingredients such as carrots, potatoes or bread 1. Offers that reduce resource use and emissions could gain weight if public and private clients shift demand toward suppliers with verified performance 1.
Trends
- Carbon and energy regulationmixed
The tertiary decree, waste-sorting obligations and rules on imports linked to deforestation raise operational requirements. This can create adaptation costs but also demand for energy-efficient services 1.
- Customer expectations for responsible foodtailwind
Diners and corporate clients increasingly prefer local, resource-light products with less animal protein. If Elior adapts its offer, it could win contracts on that basis 1.
- Climate risk to supplyheadwind
Drought, heatwaves and late frosts can reduce agricultural output and raise raw material prices. Internal analyses indicate such shocks could generate significant extra costs in central kitchens in France and Spain 1.
- Energy efficiency of buildingsmixed
Thermal renovation of sites and optimised consumption offer both a way to reduce costs and a necessity to cope with more frequent heat waves 1.
Competitive position
Elior operates in a competitive sector in which contract catering and facility management are awarded through public and private tenders. Rivals differentiate on geographic reach, cost and the ability to deliver measurable sustainability solutions 1.
The group's competitive edge could come from combining catering with facility services, from its presence across several regions and from its formalised sustainability strategy. That edge would remain vulnerable if rivals deliver lower-impact solutions faster 1.
- Compass Group
Global contract catering competitor with presence on several continents.
- Sodexo
Major European competitor in catering and facility management services.
- ISS
Facility services provider competing for integrated contracts.
- AramarkARMK
American food and facility services operator.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202508 Jan 2026
- Annual report 202418 Dec 2024
Sources
- [1] Annual report, fiscal year ended 2025-09-30 (ESEF) · SEC / Elior Group · 30 Sept 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.