| Valuation method | Value, € | Upside, % |
|---|---|---|
| Artificial intelligence (AI) | 211.81 | 75 |
| Intrinsic value (DCF) | 53.71 | -56 |
| Graham-Dodd Method | 43.66 | -64 |
| Graham Formula | 78.52 | -35 |
Samse SA is a leading French distributor of building materials and tools, serving both professional contractors and DIY customers. Founded in 1920 and headquartered in Grenoble, the company operates approximately 80 points of sale across key regions including Auvergne-Rhône-Alpes, Paca, and Gard. Samse offers a comprehensive product portfolio, including insulation, carpentry, flooring, plumbing, heating, and electrical supplies, positioning itself as a one-stop shop for construction and renovation needs. As a subsidiary of Dumont Investissement, Samse benefits from strong regional brand recognition and a diversified supply chain. The company plays a vital role in France's industrial distribution sector, catering to the growing demand for sustainable building solutions and home improvement products. With a market capitalization of approximately €515 million, Samse remains a key player in the fragmented but competitive French building materials distribution market.
Samse SA presents a mixed investment profile. On the positive side, the company benefits from stable demand in the French construction and renovation sector, supported by its regional market presence and diversified product offerings. The company's beta of 0.519 suggests lower volatility compared to the broader market, which may appeal to risk-averse investors. However, challenges include modest net income margins (approximately 1.4% of revenue) and significant total debt (€616.7 million versus cash reserves of €121.6 million), which could constrain financial flexibility. The attractive dividend yield (€10 per share) may support shareholder returns, but investors should monitor the company's ability to maintain profitability amid potential construction sector slowdowns and competitive pressures from larger European distributors.
Samse SA competes in the fragmented French building materials distribution market, where it holds a strong regional position but faces competition from both national chains and international players. The company's competitive advantage lies in its localized service model, with approximately 80 strategically located points of sale enabling quick delivery and personalized customer support—a critical factor for professional contractors. Samse's broad product assortment across multiple construction categories allows it to serve as a single-source supplier, enhancing customer stickiness. However, the company lacks the scale advantages of Europe-wide distributors, potentially limiting its purchasing power and ability to compete on price for large projects. Samse's focus on the French market also exposes it to regional economic cycles, unlike multinational competitors with diversified geographic footprints. The company's subsidiary status under Dumont Investissement provides stability but may restrict access to capital compared to publicly traded peers. Going forward, Samse's ability to integrate digital sales channels while maintaining its service-oriented physical network will be crucial in competing against larger players investing heavily in e-commerce capabilities.