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PLUXEE NV (PLX) Fair Value & Analysis

Industrials · FR · Market cap €1.9B · ISIN NL0015001W49

What is PLUXEE NV really worth?

PN PLUXEE NV PLX · PA
Price€15.71
Fair Value€35.06
Upside+123.2%
Quality67/100

A solid business, trading 55% below our fair value of €35.06.

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Strengths

Healthy Growth (revenue 3y +15.2 %/yr)
Solidly profitable · 15.7% net margin
Wide moat 72/100

Risks

!High debt · generates free cash flow
!Mixed vs. peers (8/14)
!Weak on future: 16 out of 100

For context

·2.42% dividend yield
Evidence: High Range €26.71 – €43.42

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 22 days ago

Fair value updated Aug 13, 2026, revised from €29.84 to €35.06 (+17.5%) since Jul 17, 2026. Share price +5.4% over the past month.

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

What matters now

  • The price is below even our cautious bear case (€26.71). The market is more pessimistic than our downside scenario.
  • Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality.

Price vs Fair Value (3 years)

€30.03 €9.97 Fair Value €35.06 Feb 2024 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

31‑month range €9.97 – €30.03 · fair‑value band €26.71 – €43.42 · the €15.71 price screens below the €35.06 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

PLUXEE NV (PLX) currently trades at €15.71, while our model-based Fair Value estimate is €35.06, implying the stock looks roughly 55.2% undervalued today. The Quality Score stands at 67/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of €47.76 per share, and 22 of the 26 models we run sit above the €15.71 price. Bear case: the Dividend Discount group reads lowest at €4.70, and 4 of the 26 models stay below the price. Evidence for this calculation is high.

Over the trailing twelve months, PLUXEE NV generated revenue of €1.3B at a net margin of 15.7%. Revenue grew 3.2% year over year. It earns a return on equity of 52.9%. The balance sheet holds a net cash position of €1.0B. Fundamentals as of Aug 13, 2026

Our scenario range runs from €26.71 (bear case) to €43.42 (bull case); at €15.71, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 23% below its 52-week high and 59% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at −24% fair-value upside, at 123%, PLX screens cheaper than that median.

Fair Value models

This estimate rests on fiscal year 2025 figures, and about 12 months have passed since. In that time the company retained roughly €1.03 per share, which is 2.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
FCF DCF €33.72 €52.72 €83.33 76
Growth DCF €33.11 €49.26 €73.38 75
EPV €23.88 €25.94 €27.65 74
All 26 models by family
DCF Models
FCF DCF €33.72 €52.72 €83.33 76
Owner Earnings €25.48 €38.18 €58.66 73
5Y Revenue Exit €30.12 €46.03 €67.89 69
5Y EBITDA Exit €38.49 €63.93 €96.71 71
5Y P/E Exit €31.63 €49.26 €69.86 68
10Y Revenue Exit €30.56 €45.56 €69.11 63
10Y EBITDA Exit €36.30 €57.79 €91.94 64
10Y P/E Exit €32.08 €47.76 €70.67 61
Earnings-Based
Graham-Dodd €9.66 €50.66 €70.10 61
Lynch FV €13.91 €19.86 €25.82 58
PEG = 1.0 €13.91 €19.86 €25.82 55
EPV €23.88 €25.94 €27.65 74
Dividend Discount
Gordon GGM €2.86 €5.15 €7.09 65
DDM Multi-Stage €2.86 €4.70 €5.50 64
Multiples
P/E Multiple €23.45 €31.26 €39.08 63
P/S Multiple €18.12 €24.16 €30.19 58
P/B Multiple €8.98 €11.98 €14.97 55
EV/EBIT €41.38 €52.23 €63.08 66
EV/EBITDA €43.89 €55.58 €67.26 67
EV/Revenue €28.32 €36.67 €45.02 54
Asset-Based
NCAV (Graham) €1.33 €1.78 €2.66 54
Growth DCF
Growth DCF €33.11 €49.26 €73.38 75
Rev-Margin DCF €30.12 €45.63 €66.48 69
Economic Profit
Residual Income €10.86 €18.29 €332.27 61
ROIC Compounder €23.88 €25.94 €27.65 69
Growth Earnings
Growth-Adj P/E €21.21 €30.30 €39.39 65

Widest divergence: DCF Models (€47.76) versus Asset-Based (€1.78). Highest evidence: FCF DCF (76).

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Key figures & financial health

P/E ratio 11.1
P/S ratio 1.71 P/E × margin
EPS (TTM) €1.41 price ÷ EPS = P/E 11.1
Dividend yield 2.4% payout 27.0%
Net margin 15.3% FY2025
Return on equity 50.7% TTM
More key figures
Profitability
Return on assets (EBIT) 4.3% avg 5y
Operating margin 27.5% TTM
Growth
Revenue (TTM) €1.3B TTM
Revenue growth (YoY) +3.2% 3y avg +15.2%
EPS growth (YoY) +11.0%
Balance sheet & cash flow
Free cash flow €311M FY2025
Net cash €1.0B FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 63 · Market factors (momentum, volatility) 68

Profitability 43
Margins and returns on capital today
Quality Growth 49
Are margins and returns improving?
Cashflow 91
Earnings quality: real cash, not paper profit
Fin. Strength 40
Balance sheet, leverage, solvency risk
Investment 79
Disciplined investing over empire-building
Low Volatility 72
Calm price path (market factor)
Momentum 75
Price trend over the last 3–12 months (market factor)
52W Momentum 52
Distance to the 52-week high (market factor)
Net Issuance 87
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.

About the company

Pluxee N.V. offers employee benefits and engagement solutions services in France, Latin America, Continental Europe, and internationally.

Full company description

Pluxee N.V. offers employee benefits and engagement solutions services in France, Latin America, Continental Europe, and internationally. The company provides employee benefits comprising meal, food, gift, mobility, training, insurance, and wellness benefits as well as engagement solutions; health, mental and physical well-being, leisure and culture, hybrid work, training, and uniforms; and other products and services, including rewards and recognition, public benefits, and fuel, fleet and expense management solutions. Its products are distributed through pre-paid cards, unreimbursed cards, digital solutions, paper vouchers. Pluxee N.V. was formerly known as Sodexo Asset Management 2 B.V. and changed its name to Pluxee N.V. in December 2023. The company was incorporated in 2022 and is headquartered in Issy-les-Moulineaux, France.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PLUXEE NV reported revenue of €1.3B in FY2025 versus €731M in FY2021, a compound +15.2%/yr. Reported net income was €197M in FY2025, compounding +13.9%/yr from FY2021.

Growth Quality 100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€1.3B
Latest YoY
+6.4%
Avg. revenue growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+15.2%
Value creation/yr (5Y) Earnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year.
+13.6% (11.2 + 2.4)
Revenue +15.2%/yr
FY21 €731M
FY22 €842M
FY23 €1.1B
FY24 €1.2B
FY25 €1.3B
Net income +13.9%/yr
FY21 €117M
FY22 €174M
FY23 €81.0M
FY24 €133M
FY25 €197M

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Cite: Fair Value Calculator (2026). "PLUXEE NV Fair Value". https://www.fairvalue-calculator.com/stock/PLX

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Specialty Business Services · 248 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 67 · Top 25%
Fair Value upside +123% · Top 25%
Return on equity (TTM) 51% · Top 25%
Return on assets 3% · Below median
Net margin (TTM) 16% · Top 25%
Operating margin (TTM) 27% · Top 25%
Revenue growth 3% · Below median
Dividend yield (TTM) 2.4% · Above median
Debt / equity 3.01× · Higher than 75% of peers

Valuation Multiples vs Specialty Business Services median · lower = cheaper

P/E (TTM) 11.1× · Cheaper than 75% of peers
P/B 5.87× · Pricier than 75% of peers
P/S (TTM) 1.66× · Pricier than median
P/FCF 7.0× · Pricier than median
EV/EBITDA 2.0× · Cheaper than 75% of peers

Strength profile in five axes (Snowflake)

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE100 · sector 25
FUTURE16 · sector 27
PAST100 · sector 36
HEALTH0 · sector 92
DIVIDEND48 · sector 48

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Business Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Cintas Corporation CTAS $204.15 $95.19 −53%
RELX PLC RELX $34.55 $32.24 −7%
Thomson Reuters Corporation TRI C$142.85 C$70.40 −51%
Copart, Inc CPRT $32.76 $28.59 −13%
Global Payments Inc GPN $91.05 $68.98 −24%
RB Global, Inc RBA C$119.68 C$68.30 −43%
Brambles Limited BXB A$19.47 A$17.27 −11%
UL Solutions Inc ULS $74.43 $33.62 −55%
Wolters Kluwer N.V WKL €68.88 €101.27 +47%
Aramark ARMK $59.08 $13.18 −78%

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Frequently asked questions

Is PLUXEE NV (PLX) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €35.06 versus a price of €15.71, about +123% upside (undervalued).
What is the fair value of PLX?
Our model-based fair value for PLUXEE NV is €35.06 (as of Aug 13, 2026), built from audited fundamentals. The current price: €15.71.
What is the quality score of PLX?
PLUXEE NV has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of PLUXEE NV (PLX)?
PLUXEE NV reported trailing-twelve-month revenue of about €1.3B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of PLX?
The net profit margin of PLUXEE NV is about 15.7%, meaning it keeps roughly 15.7% of revenue as net income. Based on the latest reported figures.
Does PLUXEE NV pay a dividend?
PLUXEE NV currently shows a dividend yield of about 2.42% relative to its recent price (as of Aug 13, 2026).
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