Spartoo SAS (ALSPT) AI Stock Analysis

• Market Cap: €4.53M
• Dividend Yield: N/A
• Average Volume (3M): 19.25K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.55
• Revenue Growth: -7.50%
• EPS Growth: -88.09%
• Country: FR
• Employees: 370
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Specialty Retail
• EPS (TTM): -0.05
• Shares Outstanding: 18,282,053
• 10 Day Avg. Volume: 3,742
• 30 Day Avg. Volume: 19,249
• PEG Ratio: -0.09
• Price to Book (P/B): 0.22
• Price to Sales (P/S): 0.05
• P/FCF Ratio: 1.09
• 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): -0.01
• Revenue Forecast (FY): €120.20M

• Rating: 47 Neutral
• Price Target: €0.22 ▼(-32.19% Downside)
• Action: Reiterated Date: 01/28/26
• Date: Action: Reiterated 01/28/26

The score is primarily held back by very weak technical momentum (below major moving averages with extremely low RSI/Stoch) and ongoing profitability/revenue challenges. Improved free cash flow provides some support, but losses and a negative P/E keep the valuation component weak.

Positive Factors

High gross margin

A sustained ~50% gross margin provides structural resilience for Spartoo's retail model, enabling coverage of logistics and marketing costs while funding margin expansion initiatives. High product-level margins support long-term profitability if fixed costs are controlled and scale is restored.

Improving cash generation

Free cash flow turning positive and operating cash flow covering net losses materially improves financial flexibility. That durable cash generation reduces reliance on external financing, supports capex and working capital, and creates room to deleverage or invest in growth initiatives.

Established multi-brand e-commerce position

Spartoo's role as a multi-brand European fashion marketplace gives structural advantages: broad assortment, supplier partnerships, and cross-border scale. These network effects and platform capabilities support customer retention and incremental marketplace revenue over the medium term.

Negative Factors

Declining revenue trend

A persistent revenue decline reduces operating leverage and makes fixed-cost absorption harder, pressuring margins and returns. Without clear and durable revenue stabilization or growth, investments in marketing, logistics, and platform development may fail to generate acceptable payback.

Ongoing unprofitability

Sustained negative EBIT and net losses erode equity and limit internally funded growth. Continued unprofitability increases dependence on external capital, constrains strategic flexibility, and raises execution risk for initiatives intended to reverse the loss trend.

Elevated leverage and weakening equity ratio

Material leverage and a declining equity ratio heighten financial risk, increasing interest burden and reducing shock absorbers in downturns. Even with some net debt improvement, higher liabilities limit capacity to invest, pursue M&A, or absorb slower revenue recovery without raising new capital.

Spartoo SAS Business Overview & Revenue Model

Company Description

SPARTOO SAS operates as an online retailer of shoes and fashion accessories for men, women, and children. It offers sneakers, sandals, ballerinas, pumps, and boots; and bags and apparel. As of June 4, 2021, the company operated physical stores with 6 points of sale and three brand corners. It serves customers in France, Germany, England, Italy, Spain, and internationally. The company was incorporated in 2006 and is based in Grenoble, France.

How the Company Makes Money

Spartoo generates revenue primarily through the sale of fashion and footwear products on its e-commerce platform. The company operates a multi-brand strategy, partnering with numerous well-known and emerging brands to offer a broad product range. Key revenue streams include direct sales from its inventory, drop-shipping arrangements, and commission-based sales from third-party sellers on its marketplace. Spartoo also benefits from seasonal promotions and sales events, which drive traffic and increase sales volume. Additionally, the company may leverage partnerships with logistics and payment service providers to enhance operational efficiency and customer experience, further contributing to its earnings.

Spartoo SAS Financial Statement Overview

Summary

Income statement remains weak (declining revenue and persistent net losses), balance sheet shows elevated leverage and a declining equity ratio, but cash flow has improved with free cash flow turning positive and operating cash flow covering net losses.

Income Statement

Spartoo SAS has been experiencing declining revenue over the years, with a negative revenue growth rate since 2020. The gross profit margin is consistently around 50%, but the company struggles with profitability, indicated by negative EBIT and net profit margins. The net income has been negative for several years, highlighting ongoing challenges in achieving sustainable profitability.

Balance Sheet

The debt-to-equity ratio is relatively high, indicating significant leverage, but there has been some improvement in reducing net debt. The equity ratio has been decreasing, reflecting increased liabilities. Despite these challenges, the company maintains a reasonable level of cash and equivalents, providing some liquidity cushion.

Cash Flow

Spartoo SAS shows improvement in free cash flow, turning positive in recent years, which is a positive sign for cash generation. The operating cash flow to net income ratio is healthy, indicating that cash flow from operations is covering net losses. However, the free cash flow to net income ratio suggests a reliance on non-operating activities for cash generation.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	125.12M	130.46M	142.92M	149.05M	150.25M	136.60M
Gross Profit	55.31M	66.38M	74.02M	77.17M	79.83M	71.08M
EBITDA	2.27M	-166.00K	-396.00K	35.00K	5.81M	8.92M
Net Income	-2.05M	-2.33M	-1.87M	-4.58M	1.52M	2.17M
Balance Sheet
Total Assets	79.25M	89.02M	95.27M	99.96M	105.53M	79.83M
Cash, Cash Equivalents and Short-Term Investments	10.74M	15.33M	14.27M	9.42M	32.84M	19.61M
Total Debt	20.02M	20.87M	25.99M	24.31M	24.17M	26.23M
Total Liabilities	50.45M	59.43M	63.14M	65.88M	67.15M	64.78M
Stockholders Equity	28.80M	29.58M	32.13M	34.08M	38.38M	15.05M
Cash Flow
Free Cash Flow	5.74M	6.12M	3.18M	-22.10M	-6.14M	-191.00K
Operating Cash Flow	5.86M	6.57M	4.54M	-20.63M	-3.17M	2.03M
Investing Cash Flow	-580.00K	-158.00K	-1.32M	-2.94M	-3.05M	-2.17M
Financing Cash Flow	-5.38M	-5.10M	1.72M	-86.00K	19.72M	11.10M

Spartoo SAS Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.32
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:ALSPT, the sentiment is Negative. The current price of 0.32 is above the 20-day moving average (MA) of 0.25, above the 50-day MA of 0.28, and below the 200-day MA of 0.35, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 50.25 is Neutral, neither overbought nor oversold. The STOCH value of 51.83 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:ALSPT.

Spartoo SAS Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALVU	67 Neutral	€148.23M	18.41	―	2.38%	8.59%	-22.37%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
SRP	49 Neutral	€81.63M	-1.65	―	―	-4.53%	-9785.71%
ALSPT	47 Neutral	€4.53M	-2.21	-4.43%	―	-7.50%	-88.09%