PLUXEE N.V. (PLX) AI Stock Analysis

• Market Cap: €2.33B
• Dividend Yield: 2.91%
• Average Volume (3M): 152.91K
• Price to Earnings (P/E): 8.3
• Beta (1Y): 0.95
• Revenue Growth: 6.36%
• EPS Growth: 48.97%
• Country: FR
• Employees: 5,368
• Sector: Industrials
• Sector Strength: 72
• Industry: Specialty Business Services
• EPS (TTM): 0.82
• Shares Outstanding: 147,174,700
• 10 Day Avg. Volume: 122,880
• 30 Day Avg. Volume: 152,906
• PEG Ratio: 0.26
• Price to Book (P/B): 6.82
• Price to Sales (P/S): 1.96
• P/FCF Ratio: 8.10
• 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: €17.14
• Price Target Upside: 53.45% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 8
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 69 Neutral
• Price Target: €13.00 ▲(16.38% Upside)

The score is driven by solid underlying financial performance (growth and improving profitability, supported by free cash flow) and a favorable valuation (low P/E and ~3.17% yield). These positives are partially offset by weak technical trends (below key moving averages with negative MACD) and balance-sheet risk from high leverage, despite a strong and confident earnings outlook with noted macro/regulatory risks.

Positive Factors

Free Cash Flow & Cash Conversion

Sustained, high free cash flow and an 89% cash conversion rate provide durable funding for organic investment, M&A, dividends and the EUR 100m buyback. Strong cash generation reduces reliance on external financing and supports strategic flexibility over the medium term.

Recurring EBITDA Margin Expansion

A 230bp expansion in recurring EBITDA margin indicates improving operating leverage and execution across the platform. This margin improvement suggests scalable cost structure and pricing power, which can sustainably boost profitability as revenue grows.

Consistent Organic Revenue Growth

Double-digit organic growth reflects resilient demand for the company’s energy management and services offerings and successful commercial execution. Consistent organic growth supports scale advantages, recurring revenue, and long-term market share gains.

Negative Factors

High Financial Leverage

Elevated leverage raises refinancing and interest-rate sensitivity, constraining strategic flexibility and capital allocation during downturns. Persistent high debt levels can pressure cash flow priorities and limit the company’s ability to invest or weather prolonged macro stress.

Declining Gross Margin

A shrinking gross margin points to either rising input costs or pricing pressure in core offerings. If structural, this erodes room for sustained operating margin improvement and forces tougher cost reductions or price increases that could affect competitiveness.

Regulatory Uncertainty in Key Markets

Regulatory reforms in France and Brazil create structural revenue and margin risk for contracts and operations there. Prolonged uncertainty can delay investments, complicate pricing and contract terms, and materially affect medium-term growth visibility in those markets.

PLUXEE N.V. Business Overview & Revenue Model

Company Description

Pluxee N.V. offers employee benefits and engagement solutions services in France, Latin America, Continental Europe, and internationally. The company provides employee benefits comprising meal, food, gift, mobility, training, and wellness benefits; mental and physical well-being, leisure and culture, hybrid work, training, and uniforms; and other products and services, including rewards and recognition, public benefits, and fuel and fleet management. Its products are distributed through pre-paid cards, digital solutions, and paper vouchers. Pluxee N.V. was formerly known as Sodexo Asset Management 2 B.V. and changed its name to Pluxee N.V. in December 2023. The company was incorporated in 2022 and is headquartered in Issy-les-Moulineaux, France.

How the Company Makes Money

PLUXEE N.V. generates revenue through multiple streams, primarily by selling its proprietary energy management systems and technologies to commercial and industrial clients seeking to optimize their energy consumption and enhance sustainability. The company also earns income from installation services, maintenance contracts, and consulting services related to energy efficiency. Significant partnerships with governmental and private organizations focused on renewable energy projects further bolster its revenue, while participation in various incentive programs for renewable energy adoption provides additional financial support.

PLUXEE N.V. Financial Statement Overview

Summary

Strong revenue growth and improved profitability (higher EBIT/EBITDA and net margin) support the score, alongside solid free cash flow growth. Offsetting factors include high leverage (high debt-to-equity, low equity ratio), declining gross margin, and weaker cash conversion from operating cash flow versus net income.

Income Statement

PLUXEE N.V. has demonstrated consistent revenue growth over the years, with a notable increase in EBIT and EBITDA margins, indicating improved operational efficiency. However, the gross profit margin has declined, which could suggest rising costs or pricing pressures. The net profit margin has improved, reflecting better profitability.

Balance Sheet

The company exhibits a high debt-to-equity ratio, which poses a risk of financial leverage. However, the return on equity is strong, indicating effective use of equity to generate profits. The equity ratio is relatively low, suggesting a reliance on debt financing.

Cash Flow

PLUXEE N.V. shows positive free cash flow growth and a healthy free cash flow to net income ratio, indicating good cash generation relative to profits. However, the operating cash flow to net income ratio is low, suggesting potential challenges in converting income into cash.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.29B	1.29B	1.21B	1.05B	842.00M	731.00M
Gross Profit	361.00M	361.00M	430.00M	445.00M	331.00M	282.00M
EBITDA	476.00M	476.00M	338.00M	263.00M	303.00M	219.00M
Net Income	197.00M	197.00M	133.00M	81.00M	174.00M	117.00M
Balance Sheet
Total Assets	6.40B	6.40B	5.95B	5.67B	5.30B	4.68B
Cash, Cash Equivalents and Short-Term Investments	3.31B	3.31B	2.23B	3.10B	2.77B	2.33B
Total Debt	1.27B	1.27B	1.18B	1.31B	553.00M	334.00M
Total Liabilities	5.93B	5.93B	5.59B	5.63B	4.59B	3.99B
Stockholders Equity	369.00M	369.00M	258.00M	42.00M	699.00M	684.00M
Cash Flow
Free Cash Flow	311.00M	311.00M	322.00M	443.00M	143.00M	113.00M
Operating Cash Flow	409.00M	409.00M	438.00M	559.00M	221.00M	184.00M
Investing Cash Flow	-395.00M	-395.00M	-270.00M	-7.00M	46.00M	-109.00M
Financing Cash Flow	-17.00M	-17.00M	-213.00M	-43.00M	6.00M	60.00M

PLUXEE N.V. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 11.17
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:PLX, the sentiment is Negative. The current price of 11.17 is below the 20-day moving average (MA) of 11.78, below the 50-day MA of 12.54, and below the 200-day MA of 15.98, indicating a bearish trend. The MACD of -0.49 indicates Positive momentum. The RSI at 40.72 is Neutral, neither overbought nor oversold. The STOCH value of 20.92 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:PLX.

PLUXEE N.V. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GLO	76 Outperform	€939.30M	11.09	19.49%	3.03%	9.51%	26.07%
ELIS	76 Outperform	€5.70B	15.54	10.25%	1.88%	4.83%	52.47%
TEP	74 Outperform	€3.27B	6.72	11.73%	6.86%	9.08%	-22.55%
PLX	69 Neutral	€2.33B	8.25	―	2.91%	6.36%	48.97%
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
SW	61 Neutral	€6.31B	9.06	18.37%	6.20%	1.16%	314.94%
IDL	56 Neutral	€2.68B	46.37	11.18%	―	18.03%	3.43%