Company DescriptionTrigano S.A., together with its subsidiaries, designs, manufactures, markets, and sells leisure vehicles and trailers for individuals and professionals in Europe. The company operates through Leisure Vehicles and Leisure Equipment segments. It offers leisure vehicles, including caravans, motorhomes, and mobile homes; camping and garden equipment; tents; and baggage and utility trailers, as well as accessories for leisure vehicles. The company also rents motorhomes; and provides finance for leisure vehicles, as well as offers a range of rental stay services in mobile homes. It offers its products through dealer networks and distributors, as well as through its online sales site, Triganostore.com. Trigano S.A. was founded in 1935 and is based in Paris, France.

How the Company Makes Money

Trigano SA Financial Statement Overview

Summary

Trigano SA shows strong revenue growth and profitability, with a robust equity base and low leverage, as reflected in the income statement and balance sheet. However, the decline in cash flow metrics, especially the negative free cash flow, indicates potential financial challenges that need addressing.

Income Statement

Very Positive

Trigano SA has demonstrated strong revenue growth with a 12.8% increase from 2023 to 2024. The company maintains robust profitability metrics with a gross profit margin of 34.5% and a net profit margin of 9.5% for 2024. EBIT and EBITDA margins are also healthy at 12.7% and 14.8%, respectively. Overall, the income statement reflects a strong performance with consistent growth and profitability.

Balance Sheet

Positive

The balance sheet shows a solid equity base with a debt-to-equity ratio of 0.11, indicating low leverage. The return on equity is strong at 19.6%, reflecting efficient use of equity to generate profits. The equity ratio of 66.4% suggests a stable financial structure with a significant portion of assets financed by equity. Overall, the balance sheet is strong, though the decrease in cash reserves warrants attention.

Cash Flow

Positive

Trigano SA's cash flow statements reveal a concerning decline in free cash flow in 2024, resulting in negative free cash flow. The operating cash flow to net income ratio is 0.14, indicating challenges in converting income into cash. Additionally, the company has experienced a significant decrease in free cash flow from 2023 to 2024, suggesting potential cash flow management issues. Overall, while operational cash flow is positive, the negative free cash flow is a notable concern.

Sep 2024	Sep 2023	Sep 2022	Sep 2021	Sep 2020
Breakdown
Income Statement		Total Revenue
3.93B	3.48B	3.18B	2.93B	2.18B
	Gross Profit
1.36B	1.17B	343.80M	346.28M	173.56M
	EBIT
499.00M	422.70M	378.30M	388.78M	205.54M
	EBITDA
576.50M	472.90M	414.00M	424.54M	212.48M
	Net Income Common Stockholders
374.40M	308.10M	278.40M	222.70M	139.46M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
261.30M	359.00M	447.40M	597.52M	330.32M
	Total Assets
2.88B	2.53B	2.33B	2.19B	1.73B
	Total Debt
216.60M	164.20M	321.40M	248.71M	210.31M
	Net Debt
-44.70M	-194.80M	-126.00M	-348.81M	-120.01M
	Total Liabilities
967.50M	923.20M	992.30M	1.02B	739.86M
	Stockholders Equity
1.91B	1.60B	1.34B	1.18B	992.66M
Cash Flow		Free Cash Flow
-7.50M	125.90M	91.50M	344.06M	235.61M
	Operating Cash Flow
53.30M	201.70M	169.70M	386.72M	285.09M
	Investing Cash Flow
-99.20M	-81.10M	-223.30M	-46.99M	-77.31M
	Financing Cash Flow
-100.00M	-153.00M	-151.50M	-74.42M	-83.78M

Trigano SA Peers Comparison

Overall Rating

UnderperformOutperform

Sector (62)

Financial Indicators

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TGNOF		$2.98B	8.59	16.29%	―	―	―
Sector *	62 Neutral	$6.88B	11.32	2.90%	3.87%	2.70%	-24.57%
ZMM		€97.44M	―	-21.09%	2.38%	―	―
6T6		€628.88M	25.96	13.58%	―	―	―
5RO		€411.31M	26.09	15.82%	5.60%	―	―
2HU		€103.77M	4.21	26.21%	5.37%	―	―
ALVDM	74 Outperform	€751.23M	12.47		―	6.01%	30.64%

* Consumer Cyclical Sector Average

Performance Comparison

TGNOF

Trigano SA

143.62

12.62

9.63%

DE:ZMM

Maisons du Monde SA

2.52

-2.38

-48.57%

DE:6T6

Aramis Group SAS

7.76

3.01

63.37%

DE:5RO

Roche Bobois SAS

40.20

-7.14

-15.08%

DE:2HU

Catana Group SA

3.35

-1.82

-35.20%

FR:ALVDM

Voyageurs du Monde SA

170.50

25.70

17.75%

Glossary

OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.

NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.

UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.

Disclaimer

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