The Discounted Cash Flow (DCF) valuation of Boiron SA (BOI.PA) is 16.75 EUR. With the latest stock price at 22.50 EUR, the upside of Boiron SA based on DCF is -25.5%.

Is BOI.PA a buy or a sell?

Based on the latest price of 22.50 EUR and our DCF valuation, Boiron SA (BOI.PA) is a sell. Selling BOI.PA stocks now will result in a potential gain of 25.5%.

	Range	Selected
WACC / Discount Rate	6.0% - 8.0%	7.0%
Long-term Growth Rate	1.0% - 3.0%	2.0%
Fair Price	13.19 - 24.93	16.75
Upside	-41.4% - 10.8%	-25.5%

22.50 EUR

Stock Price

16.75 EUR

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

BOI.PA DCF Valuation: Revenue & Expenses Forecast

(EUR in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	488	532	532	555	585	599
% Growth	1%	9%	0%	4%	5%	2%

Cost of goods sold	(129)	(138)	(135)	(138)	(143)	(143)
% of Revenue	26%	26%	25%	25%	24%	24%

Selling, G&A expenses	(242)	(264)	(264)	(276)	(291)	(298)
% of Revenue	50%	50%	50%	50%	50%	50%

Research & Development	(7)	(7)	(7)	(8)	(8)	(8)
% of Revenue	1%	1%	1%	1%	1%	1%

Net interest & other expenses	(95)	(104)	(104)	(108)	(114)	(117)
% of Revenue	20%	20%	20%	20%	20%	20%

Tax expense	(3)	(5)	(6)	(7)	(8)	(9)
Tax rate	22%	28%	28%	28%	28%	28%

Net profit	11	14	16	18	21	24
% Margin	2%	3%	3%	3%	4%	4%