olivLaw · European equity research
High Co HCO.PA
France · Euronext Paris · ISIN FR0000054231 · Vertical: Listed companies from France
At the close of 05 Nov 2026, High Co (HCO.PA) stock was 3.46 EUR (−0.14% on the day), with market capitalisation 57.5 m EUR, P/E 7.7 on diluted EPS of 0.45 EUR over the last 12 months, dividend yield 7.23%, beta 0.36, 52-week range 3.24–4.05 EUR.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 47.2
- neutral
- Bollinger (20, 2)
- 3.38 – 3.64
- in the lower half of the band · %B 0.32 · band width 7.4%
- SMA 50 / 200
- 3.51 / 3.62
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.02 / -0.01
- MACD below 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 | +2.1% | −0.6% | +2.7 pp | — |
| 3 months | −7.6% | −4.2% | −3.4 pp | — |
| 6 months | −4.0% | +4.3% | −8.4 pp | — |
| Year to date | −12.8% | +7.5% | −20.4 pp | — |
| 1 year | −10.4% | +9.9% | −20.3 pp | −6.8% |
| 3 years | −24.9% | +49.8% | −74.8 pp | −15.9% |
| 5 years | −37.8% | +42.8% | −80.6 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 100 percentile of its own 2-quarter history (min 5.6, median 5.8, max 6.0; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 145.4 m | 86.2 m | 98.7 m |
| Revenue YoY | unavailable | −40.7% | +14.4% |
| Net income | 11.1 m | 7.5 m | 4.8 m |
| Net income YoY | unavailable | −32.8% | −35.2% |
| Diluted EPS | 0.63 | 0.45 | unavailable |
| Diluted EPS YoY | unavailable | −28.6% | unavailable |
| net % | 7.6% | 8.7% | 4.9% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 95.0 m EUR
- Financial debt
- 18.1 m EUR
- Net debt
- -76.8 m EUR
- Equity
- 73.5 m EUR
- Total assets
- 211.0 m EUR
- Debt / equity
- 0.25x
- Current ratio
- unavailable
- ROE
- 5.8%
- 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 | 145.4 m | 86.2 m | 98.7 m | esef· 21 Apr 2026verified |
| Operating income | 15.9 m | 6.7 m | 6.0 m | esef· 21 Apr 2026verified |
| Depreciation & amortisation | 4.3 m | 6.1 m | 4.7 m | esef· 21 Apr 2026verified |
| EBITDA | 20.1 m ≈ | 12.8 m ≈ | 10.6 m ≈ | esef· 21 Apr 2026derived |
| Income tax | 4.7 m | 2.1 m | 2.8 m | esef· 21 Apr 2026verified |
| Net income | 11.1 m | 7.5 m | 4.8 m | esef· 21 Apr 2026verified |
| Diluted EPS | 0.63 | 0.45 | — | esef· 23 Apr 2025verified |
| Weighted average diluted shares | 20.0 m | 19.7 m | — | esef· 23 Apr 2025verified |
| Dividend per share | 0.54 | 0.33 | 0.25 | esef· 21 Apr 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 66.1 m | 80.7 m | 95.0 m | esef· 21 Apr 2026verified |
| Inventories | 53.0 k | 37.0 k | 35.0 k | esef· 21 Apr 2026verified |
| Property, plant & equipment, net | 3.3 m | 1.2 m | 1.3 m | esef· 21 Apr 2026verified |
| Goodwill | 72.7 m | 73.5 m | 72.4 m | esef· 21 Apr 2026verified |
| Intangibles (excl. goodwill) | 785.0 k | 882.0 k | 922.0 k | esef· 21 Apr 2026verified |
| Total assets | 203.8 m | 206.8 m | 211.0 m | esef· 21 Apr 2026verified |
| Short-term debt | 1.0 k | 1.0 k | 2.7 m | esef· 21 Apr 2026verified |
| Long-term debt | 0 | 0 | 15.4 m | esef· 21 Apr 2026verified |
| Total liabilities | 111.9 m | 111.9 m | 137.5 m | esef· 21 Apr 2026verified |
| Equity | 91.9 m | 94.9 m | 73.5 m | esef· 21 Apr 2026verified |
| Shares outstanding at year end | 17.6 m | 16.6 m | — | esef· 21 Apr 2026derived |
Cash flow · EUR
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 12.8 m | 24.6 m | 18.5 m | esef· 21 Apr 2026verified |
| Investing cash flow | -1.9 m | -712.0 k | 7.6 m | esef· 21 Apr 2026verified |
| Financing cash flow | -14.8 m | -9.3 m | -11.8 m | esef· 21 Apr 2026verified |
| Dividends paid | 9.5 m | 5.5 m | 24.8 m | esef· 21 Apr 2026verified |
| Share repurchases | 2.2 m | 338.0 k | 1.1 m | esef· 21 Apr 2026verified |
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
- score weight coverage: 54.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 57.5 m EUR
Key indicators
Coverage and freshness
Score by group
54% · 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: 3.24 – 11.65 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/EBITDA8.59 – 11.65 (Mid 9.65)4 companies used · median multiple 7.9x · quartiles 6.2x – 11.0xABEO.PA, AI.PA, ANTIN.PA, ATE.PA
- Peers: P/E3.24 – 8.69 (Mid 5.00)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)3.40 – 4.64 (Mid 3.92)
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: score weight coverage: 54.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 91.8% | 90 (vs peers) | 19% |
| Net margin · Quality | 4.9% | 77 (vs peers) | 12% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | -7.2x | 100 (vs peers) | 19% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | unavailable | unavailable | — |
| P/E (TTM) · Valuation | 11.9x | 74 (vs peers) | 19% |
| EV/EBITDA · Valuation | -1.8x | 100 (vs peers) | 19% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 45.1% | 100 (on a fixed band) | 12% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality85/100 · 2/3 factors with a value
- Returns· partial100/100 · 1/2 factors with a value
- Valuation87/100 · 2/3 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
HIGH CO (HCO.PA). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 98.7 m EUR in 2025; YoY growth 14.4%; net margin 4.9%; ROE 5.8%; net debt/EBITDA -7.2x.
The estimated value range is 3.40–8.69 EUR per share (median of 3 methods, agreement: medium); assumptions are illustrative. Against the central value of 5.00 EUR, the price of 3.46 EUR leaves a potential of 44.4% (value / price − 1) and a margin of safety of 30.8% (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 (score weight coverage: 54.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 91.8%
- Net margin: 4.9%
- Net debt / EBITDA: -7.2x
- P/E (TTM): 11.9x
- EV/EBITDA: -1.8x
- Shareholder yield (distributions): 45.1%
What contradicts it
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Interest coverage, Current ratio, 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% |
| 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% |
| HCO.PAHigh Co | 57.5 m | 11.9 | 5.8% | 4.9% | +14.4% | −11% / −16% |
1- and 3-year price returns: for HCO.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 | 2.25 Total return -31% · Per year -31% | 3.96 Total return 20% · Per year 20% | 5.94 Total return 78% · Per year 78% |
| 3 years | 2.64 Total return -10% · Per year -4% | 5.19 Total return 68% · Per year 19% | 8.48 Total return 168% · Per year 39% |
| 5 years | 3.10 Total return 14% · Per year 3% | 6.79 Total return 132% · Per year 18% | 12.09 Total return 297% · Per year 32% |
- Exit P/E± 1.30
- Net margin± 0.91
- Annual revenue growth± 0.68
- Annual dilution± 0.08
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
- New probe by EU prosecutors into Spain’s fatal high-speed lineEuractiv · 06 Nov 2026 · EN
- European skies on high alert after hoax bomb threats this week – Europe liveThe Guardian World · 06 Nov 2026 · EN
- Sumo set to end 2026 on high note as stars align ahead of Kyushu <i>basho</i>The Japan Times · 06 Nov 2026 · EN
- High-Reliability Ultrascaled IGZO FETs for Multibit 2T0C DRAM toward Monolithic 3D Integration of an AI AcceleratorACS Nano · 06 Nov 2026 · EN
- The Global Oil Glut Returns as High Prices Crush DemandOil Price · 06 Nov 2026 · EN
- High-elevation terraces suggest faster-than-expected uplift in southern ItalyPhys.org · 06 Nov 2026 · EN
- India's Deepavali gold buyers opt for lighter jewellery, exchange old pieces amid high pricesCNA (Channel NewsAsia) · 06 Nov 2026 · EN
- Photocatalytic nitrogen reduction to high-concentration ammonia via interfacial evaporationNature Sustainability · 06 Nov 2026 · EN
- Costco is taking aim at its May record high — how it got here and where's it goingCNBC World · 05 Nov 2026 · EN
- N. Korea lambasts money-laundering watchdog over renewed 'high-risk' labelYonhap News (KR, EN) · 05 Nov 2026 · EN
- Brazil faces prolonged high rates as Lula puts off fiscal decisionsbne IntelliNews (EN) · 05 Nov 2026 · EN
- High Yield Credit Quality In Good Shape: SkibaBloomberg Markets · 05 Nov 2026 · EN
- NHS England cancer diagnoses at record high with 1,000 people diagnosed every dayThe Guardian — Health · 05 Nov 2026 · EN
- High levels of indoor radon linked to higher risk of heart failure in postmenopausal womenMedical Xpress · 05 Nov 2026 · EN
- I’m 65 and worth more than $5.6 million. Can I buy a $200,000 camper even though the price feels ‘crazy high’?MarketWatch — Top Stories · 05 Nov 2026 · EN
- European UGS may have lower deliverability due to high withdrawal rate — GazpromTASS (RU, EN) · 05 Nov 2026 · EN
- Click Chemistry-Enabled Ionic Monomers for High-Performance Single-Ion Conducting Lithium Battery ElectrolytesJACS Au · 05 Nov 2026 · EN
- High gas withdrawals may weaken European storage performance in winter — GazpromTASS (RU, EN) · 05 Nov 2026 · EN
- Slippery Amphiphilic Antifouling Loose Nanofiltration Membrane with “Double-Defense” Functionalities for High-Salinity Organic Wastewater Sustainable ManagementEnvironmental Science & Technology · 05 Nov 2026 · EN
- Faber Report: Liberty Media acquires high-vote Series B shares of John C. Malone related-enterprisesCNBC — Top News · 05 Nov 2026 · EN
Annual reports (ESEF)
- Annual report 202521 Apr 2026
- Annual report 202423 Apr 2025
- Annual report 202423 Apr 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.