ECOMIAM SA (ALECO) AI Stock Analysis

• Market Cap: €10.21M
• Dividend Yield: N/A
• Average Volume (3M): 2.29K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.36
• Revenue Growth: -2.10%
• EPS Growth: 64.37%
• Country: FR
• Employees: 53
• Sector: Consumer Defensive
• Sector Strength: 42
• Industry: Food Distribution
• EPS (TTM): -0.43
• Shares Outstanding: 5,460,779
• 10 Day Avg. Volume: 2,272
• 30 Day Avg. Volume: 2,291
• PEG Ratio: -0.23
• Price to Book (P/B): 3.43
• Price to Sales (P/S): 0.29
• P/FCF Ratio: -3.80
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.54
• Revenue Forecast (FY): €45.90M

• Rating: 47 Neutral
• Price Target: €2.00 ▼(-9.09% Downside)
• Action: Reiterated Date: 02/19/26
• Date: Action: Reiterated 02/19/26

The score is primarily weighed down by weak financial performance—multi-year losses and persistent negative operating/free cash flow—despite manageable leverage. Technical indicators are broadly neutral to mildly positive in the near term, but valuation remains constrained by negative earnings and the absence of a dividend yield.

Positive Factors

Improved gross margin

A sustained increase in gross margin (roughly 39–40% vs ~28% earlier) improves unit economics and provides structural room to cover fixed costs. If management sustains these cost or pricing gains, the company has a clearer path to operating leverage and eventual profitability over months.

Manageable leverage

Leverage below 1x gives the firm more financing flexibility than highly levered peers, reducing immediate refinancing pressure. With moderate debt levels, the company can access debt markets or restructure more easily while pursuing margin recovery or working-capital improvements.

Stable industry exposure and low volatility

Operating in food distribution provides structurally steady demand, supporting revenue resilience. A small, 53-person footprint implies a lean cost base and operational agility, while a low beta indicates lower market volatility, aiding planning and long-term cash management.

Negative Factors

Persistent negative cash flow

Continuous operating and free cash flow deficits over five years indicate the business burns cash to run operations, undermining self-funding capacity. Ongoing cash burn elevates liquidity and refinancing risk and forces reliance on external capital to sustain operations long term.

Sustained operating losses

Multi-year operating losses and a notable revenue decline in 2025 show the business lacks scale and consistent demand. Loss-making operations erode reserves and impede reinvestment, making profitable recovery dependent on durable revenue stabilization and structural cost reductions.

Eroded equity and weakened balance sheet

Material declines in shareholders' equity reduce the company’s shock-absorption and borrowing capacity. Lower equity amplifies refinancing and covenant risks, constrains ability to fund growth initiatives, and increases the probability of dilutive capital raises if losses persist.

ECOMIAM SA Business Overview & Revenue Model

Company Description

Ecomiam.Com operates stores that sells food products in France. The company's stores sell aperitifs, meats, fish and seafood products, vegetables and potato products, culinary aids, breads and pastries, desserts, and organic products. It also offers products through online. The company was founded in 2009 and is based in Quimper, France.

How the Company Makes Money

ECOMIAM generates revenue primarily through the sale of its frozen food products in supermarkets and grocery stores. The company's revenue model is built on direct sales to retail partners, which include both large supermarket chains and smaller independent grocers. Key revenue streams include bulk sales of frozen meals, specialty products, and seasonal offerings. Additionally, ECOMIAM may benefit from partnerships with distributors and collaborations with food service providers, further expanding its market reach. The company's focus on sustainability and quality also allows it to command premium pricing, contributing to higher profit margins.

ECOMIAM SA Financial Statement Overview

Summary

Financials appear stressed: sustained operating losses since 2022, weak revenue momentum (notably a steep drop in 2025), and consistently negative operating/free cash flow from 2021–2025. Balance-sheet leverage is manageable (debt-to-equity ~0.85x in 2025), but declining equity and ongoing cash burn increase liquidity and refinancing risk.

Income Statement

Profitability has deteriorated meaningfully: the company moved from modest profits in 2020–2021 to sustained losses from 2022–2025. While gross margin improved sharply in 2024–2025 (roughly ~39–40% vs. ~28% in 2022–2023), operating results remain negative with EBIT margins around -7% to -12% in recent years, indicating the cost base is still too high. Revenue momentum is also weak, with a slight decline in 2024 followed by a steep drop in 2025, raising concerns about demand and scale.

Balance Sheet

Leverage looks manageable overall with debt-to-equity below 1x in most years (and ~0.85x in 2025), but the balance sheet has weakened due to ongoing losses. Equity has fallen substantially from 2021–2022 levels, which reduces financial flexibility, even though total debt is not extreme in absolute terms. The trend in profitability (negative returns in recent years) is the key risk to balance-sheet stability going forward.

Cash Flow

Cash generation is a major weakness: operating cash flow has been negative in every year from 2021 through 2025, and free cash flow is consistently negative as well. 2025 free cash flow worsened versus 2024, signaling higher cash burn. Despite accounting losses, cash flow is not showing improvement, suggesting the business has not yet stabilized working capital and operating efficiency enough to self-fund operations.

Breakdown	Sep 2025	Sep 2024	Sep 2023	Sep 2022	Sep 2021
Income Statement
Total Revenue	39.05M	40.37M	41.44M	38.64M	36.24M
Gross Profit	15.54M	15.61M	11.42M	10.84M	1.31M
EBITDA	-2.96M	-2.40M	-4.20M	-2.10M	1.32M
Net Income	-3.57M	-3.19M	-5.31M	-2.08M	415.26K
Balance Sheet
Total Assets	10.74M	12.81M	13.34M	18.42M	18.76M
Cash, Cash Equivalents and Short-Term Investments	1.91M	3.95M	3.16M	6.91M	10.36M
Total Debt	2.75M	2.03M	3.57M	3.28M	2.91M
Total Liabilities	7.48M	5.98M	8.31M	8.08M	6.15M
Stockholders Equity	3.25M	6.83M	5.03M	10.35M	12.48M
Cash Flow
Free Cash Flow	-2.94M	-3.84M	-3.48M	-2.57M	-2.13M
Operating Cash Flow	-2.63M	-3.49M	-2.89M	-1.82M	-1.20M
Investing Cash Flow	-480.90K	77.30K	-304.94K	-948.36K	-2.32M
Financing Cash Flow	1.05M	4.35M	-696.84K	-689.29K	13.12M

ECOMIAM SA Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.20
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALECO, the sentiment is Negative. The current price of 2.2 is above the 20-day moving average (MA) of 2.06, above the 50-day MA of 2.14, and below the 200-day MA of 2.23, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 35.45 is Neutral, neither overbought nor oversold. The STOCH value of 19.17 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALECO.

ECOMIAM SA Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALODC	68 Neutral	€81.47M	10.01	13.04%	1.07%	16.88%	-15.24%
Sector *	62 Neutral	$20.33B	14.63	-3.31%	3.23%	1.93%	-12.26%
ALFLE	60 Neutral	€90.27M	4.64	―	5.18%	0.17%	-97.54%
ALECO	47 Neutral	€10.21M	-3.13	-63.95%	―	-2.10%	64.37%