| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 129893.23 | 45002 |
| Intrinsic value (DCF) | 1847.66 | 542 |
| Graham-Dodd Method | 618.95 | 115 |
| Graham Formula | 635.91 | 121 |
Cofidur S.A. is a French electronic manufacturing services (EMS) provider specializing in comprehensive solutions for industries such as aviation, defense, lighting, medical, telecommunications, transport, and oil. Founded in 1968 and headquartered in Laval, France, the company offers a wide range of services including supply chain management, lean manufacturing, PCB re-engineering, and obsolescence management. Cofidur’s expertise in low-cost solutions and co-development makes it a key player in the European EMS market, catering to high-reliability sectors that demand precision and innovation. With a strong focus on design-to-cost and refurbishing services, the company serves a diverse clientele, reinforcing its relevance in the technology hardware and equipment sector. Cofidur’s commitment to operational efficiency and customer-centric solutions positions it as a trusted partner in electronic manufacturing.
Cofidur S.A. presents a niche investment opportunity in the electronic manufacturing services sector, with a stable revenue base of €79.5 million and net income of €1.6 million (FY 2024). The company’s low beta (0.297) suggests lower volatility compared to the broader market, appealing to risk-averse investors. However, its small market cap (~€12 million) and modest liquidity may deter institutional investors. Positive operating cash flow (€7.7 million) and a dividend yield (~5.2% based on a €20 dividend per share) enhance its attractiveness. Risks include exposure to cyclical industries (e.g., aviation, defense) and reliance on the French market. Investors should weigh its steady cash generation against limited growth scalability.
Cofidur S.A. competes in the fragmented EMS market, differentiating itself through specialized services like obsolescence management and PCB re-engineering, which are critical for long-lifecycle industries like defense and aviation. Its lean manufacturing approach and design-to-cost capabilities provide a competitive edge in cost-sensitive segments. However, the company’s regional focus (France) limits its scale compared to global EMS leaders. Its strengths lie in high-margin niche services and strong client relationships, but it faces pressure from larger players with broader geographic reach and advanced automation. Cofidur’s ability to maintain profitability (EPS of €41.28) despite its small size reflects operational efficiency, though it may struggle to compete on volume with multinational EMS providers. The company’s focus on refurbishing and co-development could unlock growth in circular economy trends, but reliance on traditional manufacturing processes may hinder innovation scalability.