| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 197.88 | 1522 |
| Intrinsic value (DCF) | 3.99 | -67 |
| Graham-Dodd Method | n/a | |
| Graham Formula | 55.87 | 358 |
LACROIX Group SA is a France-based technology company specializing in the development, industrialization, and production of electronic assemblies and subassemblies for diverse industries, including automotive, aeronautics, home automation, industrial, and healthcare. Founded in 1936 and headquartered in Saint-Herblain, the company operates across France, Germany, Poland, Italy, Spain, and Tunisia. LACROIX Group provides smart infrastructure solutions, such as street lighting, traffic management, and V2X (vehicle-to-everything) technologies, as well as remote control and automation systems for water and energy infrastructure. As a subsidiary of Vinila Investissements, LACROIX Group leverages its expertise in electronics and IoT (Internet of Things) to enhance efficiency and connectivity in urban and industrial environments. With a strong presence in Europe, the company plays a pivotal role in advancing smart city and industrial automation solutions, positioning itself as a key player in the technology-driven hardware and equipment sector.
LACROIX Group SA presents a mixed investment profile. On the positive side, the company operates in high-growth segments such as smart infrastructure and industrial automation, supported by increasing demand for IoT and connectivity solutions. Its diversified client base across multiple industries mitigates sector-specific risks. However, the company's modest market cap (~€33.8M) and diluted EPS of €0.91 indicate limited scale compared to larger peers. While it generated €76.1M in revenue and €4.3M in net income for FY 2023, its total debt of €172.3M raises concerns about leverage, despite a healthy operating cash flow of €36.3M. The dividend yield (€0.7 per share) may appeal to income-focused investors, but the beta of 1.135 suggests higher volatility than the broader market. Investors should weigh LACROIX's niche positioning in smart infrastructure against its financial constraints and competitive pressures.
LACROIX Group SA competes in the electronic assemblies and smart infrastructure market, where its key strengths lie in its specialized expertise in industrial and urban IoT applications. The company's focus on smart road and energy infrastructure differentiates it from generic electronics manufacturers. Its vertically integrated model—spanning development, production, and integration—allows for cost control and customization, which is critical in serving regulated industries like traffic management and utilities. However, LACROIX faces intense competition from larger multinational players with greater R&D budgets and global supply chains. Its regional concentration in Europe limits exposure to faster-growing markets in Asia and North America. The company's competitive advantage stems from its long-standing relationships with European municipalities and industrial clients, but it must continuously innovate to fend off rivals offering cheaper, standardized solutions. Additionally, its reliance on the automotive and industrial sectors exposes it to cyclical demand fluctuations. To maintain its edge, LACROIX must invest in next-gen technologies like AI-driven infrastructure management while improving operational efficiency to offset pricing pressures.