SMCP S.A.S. (SMCP) AI Stock Analysis

• Market Cap: €468.23M
• Dividend Yield: N/A
• Average Volume (3M): 96.46K
• Price to Earnings (P/E): 29.9
• Beta (1Y): 2.08
• Revenue Growth: 1.78%
• EPS Growth: N/A
• Country: FR
• Employees: 4,576
• Sector: General
• Sector Strength: N/A
• Industry: Apparel - Retail
• EPS (TTM): 0.07
• Shares Outstanding: 78,326,900
• 10 Day Avg. Volume: 107,686
• 30 Day Avg. Volume: 96,456
• PEG Ratio: -0.18
• Price to Book (P/B): 0.42
• Price to Sales (P/S): 0.41
• P/FCF Ratio: 2.34
• 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): 0.66
• Revenue Forecast (FY): €1.25B

• Rating: 56 Neutral
• Price Target: €6.00 ▼(-2.44% Downside)
• Action: Reiterated Date: 03/01/26
• Date: Action: Reiterated 03/01/26

The score is driven by uneven financial performance—especially volatile net profitability—partly offset by strong cash flow generation and a manageable balance sheet. Technicals are supportive but appear somewhat stretched, while valuation is a notable headwind due to the high P/E without a dividend yield provided.

Positive Factors

Strong cash generation

Consistent operating cash flow and historically high free cash flow provide durable internal funding for store investment, e-commerce buildout, and debt servicing. Strong cash conversion cushions earnings volatility and increases strategic optionality for reinvestment or shareholder returns over the medium term.

Manageable leverage and stable equity

Leverage in the 0.6–0.8 range and stable equity capitalization signal a resilient balance sheet relative to retail peers. This structural strength supports access to financing, capacity for targeted expansion or remodels, and a buffer against cyclical sales dips without immediate need for dilutive financing.

Premium brand portfolio & omni-channel model

Owning three differentiated premium brands plus an established omni-channel distribution strategy yields durable competitive advantages: brand loyalty, pricing power in premium segments, and margin control via direct retail and e-commerce. This supports gradual international expansion and resilience to single-channel shocks.

Negative Factors

Stagnant and declining revenue

Prolonged revenue stagnation and recent declines reduce the company's ability to leverage fixed costs and fund growth organically. Over months to quarters this constrains margin expansion, forces heavier reliance on cost actions or promotions, and raises risk of losing share to faster-growing competitors.

Volatile net profitability

Large swings in net margin reflect inconsistency converting operating profits into shareholder earnings, driven by below-the-line volatility. This undermines predictability of returns, complicates capital allocation, and may limit the company's ability to sustain investment or consistent shareholder distributions over the medium term.

Free-cash-flow and working-capital sensitivity

Material swings and a sharp FCF downturn indicate cash generation is sensitive to trading and working-capital cycles. That volatility increases refinancing and liquidity risk during weaker sales periods, can force short-term financing or capex delays, and reduces the reliability of cash for strategic initiatives.

SMCP S.A.S. Business Overview & Revenue Model

Company Description

SMCP S.A. operates as a ready-to-wear and accessories retail company in France and internationally. It designs, markets, and sells women's wear, men's wear, and accessories. The company sells its products through a network of points of sale and websites under four brands, including Sandro, Maje, Claudie Pierlot, and De Fursac. As of December 31, 2021, it operated 745 points of sales in 42 countries. The company was founded in 1984 and is headquartered in Paris, France. SMCP S.A. is a former subsidiary of Shandong Ruyi Technology Group Co., Ltd.

How the Company Makes Money

SMCP generates revenue primarily through the direct sale of its clothing and accessory lines via its retail stores and e-commerce platforms. The company operates a multi-channel retail strategy, which includes flagship stores, boutiques, and online sales, allowing it to reach a wider customer base. Key revenue streams include in-store sales, online sales through its branded websites, and wholesale partnerships with high-end department stores and specialty retailers. Additionally, seasonal collections and limited-edition releases contribute to sales spikes. Strategic partnerships with luxury retailers also enhance visibility and accessibility, further driving sales growth.

SMCP S.A.S. Financial Statement Overview

Summary

Mixed fundamentals: revenue has been broadly flat with a modest decline in 2024 and weak reported growth in 2025, and net profitability has been volatile (loss in 2024, small profit in 2025). Offsetting this, cash generation is a clear strength with consistently solid operating cash flow and high free cash flow, while leverage appears manageable though debt increased in 2025.

Income Statement

Revenue has been broadly flat since 2021 (around €1.2B) with a modest decline in 2024 and a sharply negative reported growth rate in 2025. Profitability is volatile: net margin swung from strong in 2022 (~4.3%) to a loss in 2024 (~-1.9%), then back to a small profit in 2025 (~1.4%). Operating performance is mixed—EBITDA margin remains decent (~18.7% in 2025), but net income conversion is weak, suggesting ongoing pressure below the operating line and limited consistency in earnings.

Balance Sheet

Leverage looks manageable for the sector with debt-to-equity in the ~0.63–0.77 range across 2021–2025, though total debt increased in 2025 versus 2024. Equity has remained relatively stable (~€1.16–€1.18B), which supports balance sheet resilience. The key weakness is low and inconsistent returns for shareholders (negative in 2024, ~1.4% in 2025), indicating that while capitalization is adequate, profitability has not been strong enough to consistently generate attractive returns.

Cash Flow

Cash generation is a relative strength: operating cash flow has been consistently solid (~€210–€250M) and free cash flow remains high (~€160–€212M), including improvement in 2025 versus 2024. Free cash flow meaningfully exceeds reported earnings in multiple years (notably 2024 and 2025), pointing to good cash conversion and potential conservatism/non-cash charges impacting net income. The main watch item is uneven free-cash-flow growth (down in several years and sharply negative in 2025), suggesting cash performance may be sensitive to trading conditions and working-capital swings.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	1.22B	1.21B	1.23B	1.21B	1.04B
Gross Profit	348.50M	763.30M	775.20M	769.20M	658.40M
EBITDA	227.30M	179.40M	121.30M	247.30M	213.00M
Net Income	16.60M	-23.60M	11.20M	51.30M	23.90M
Balance Sheet
Total Assets	2.15B	2.30B	2.35B	2.38B	2.41B
Cash, Cash Equivalents and Short-Term Investments	47.40M	48.50M	50.90M	73.30M	131.30M
Total Debt	871.30M	729.30M	749.50M	769.10M	861.30M
Total Liabilities	978.00M	1.14B	1.17B	1.21B	1.29B
Stockholders Equity	1.17B	1.16B	1.18B	1.17B	1.12B
Cash Flow
Free Cash Flow	212.10M	195.00M	160.80M	163.50M	203.40M
Operating Cash Flow	240.10M	233.90M	215.80M	209.00M	250.10M
Investing Cash Flow	-28.00M	-38.80M	-61.70M	-44.60M	-47.20M
Financing Cash Flow	-195.30M	-202.60M	-191.30M	-222.70M	-199.50M

SMCP S.A.S. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.15
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:SMCP, the sentiment is Negative. The current price of 6.15 is below the 20-day moving average (MA) of 6.27, below the 50-day MA of 6.24, and above the 200-day MA of 5.82, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 43.01 is Neutral, neither overbought nor oversold. The STOCH value of 12.96 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FR:SMCP.

SMCP S.A.S. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RBO	67 Neutral	€262.39M	16.76	14.30%	3.72%	0.82%	-34.14%
ALVU	67 Neutral	€149.19M	18.62	―	2.38%	8.59%	-22.37%
SMCP	56 Neutral	€468.23M	29.90	1.30%	―	1.78%	―
Sector *	55 Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
MDM	48 Neutral	€50.28M	-0.29	-33.85%	3.00%	-10.98%	-905.89%