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Rexel S.A (RXL) Fair Value & Analysis

Technology · FR · Market cap €11.4B

RS Rexel S.A RXL · PA
Price€37.12
Fair Value€32.05
Upside-13.7%
Quality62/100
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Healthy Growth
Thin margins · 3.0% net margin
Moderate debt · generates free cash flow
3.08% dividend yield
Mixed vs. peers (8/15)
Narrow moat 41/100
Evidence: High Range €18.69 – €45.17 Share as image

Fair value as of: Aug 13, 2026

From 25 valuation models · updated yesterday

Fair value updated Aug 13, 2026, revised from €33.31 to €32.05 (−3.8%) since Jul 19, 2026. Share price −5.3% over the past month.

A solid business, but screening 14% overvalued on our models.

What matters now

  • Solid but not exceptional quality (62/100) and above fair value, neither a clear bargain nor a standout compounder.
  • A fairly wide model range (€18.69 to €45.17) leaves room in how you read the outcome.
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Price vs Fair Value (5 years)

€39.30 €11.51 Fair Value €32.05 Jun 2021 Aug 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

60‑month range €11.51 – €39.30 · fair‑value band €18.69 – €45.17 · the €37.12 price screens above the €32.05 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

Rexel S.A (RXL) currently trades at €37.12, while our model-based Fair Value estimate is €32.05, implying the stock looks roughly 13.7% overvalued today. The Quality Score stands at 62/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Rexel S.A generated revenue of €19.4B at a net margin of 3.0%. Revenue declined 0.2% year over year. It earns a return on equity of 10.8%. Net debt stands at €4.1B. Fundamentals as of Aug 13, 2026

Our scenario range runs from €18.69 (bear case) to €45.17 (bull case); at €37.12, the current price sits within 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 2% below its 52-week high and 60% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -21% fair-value upside, at -14%, RXL screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted 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.

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
Growth DCF €17.50 €26.65 €39.00 80
Residual Income €16.58 €18.75 €29.73 76
Rev-Margin DCF €21.49 €37.09 €53.42 74
All 25 models by family
DCF Models
FCF DCF €16.76 €26.47 €40.11 38
Owner Earnings €24.89 €38.01 €56.41 31
5Y Revenue Exit €21.49 €36.88 €55.76 39
5Y EBITDA Exit €29.45 €50.86 €74.62 41
5Y P/E Exit €19.47 €33.33 €46.94 38
10Y Revenue Exit €18.56 €31.91 €48.25 36
10Y EBITDA Exit €24.45 €41.31 €61.84 37
10Y P/E Exit €18.24 €29.53 €41.89 35
Earnings-Based
Graham-Dodd €13.61 €29.47 €37.49 54
PEG = 1.0 €4.60 €6.57 €8.53 46
EPV €19.63 €23.98 €27.78 59
Dividend Discount
Gordon GGM €11.07 €17.24 €24.00 70
DDM Multi-Stage €11.07 €15.96 €21.49 61
Multiples
P/E Multiple €31.53 €42.03 €52.54 63
P/S Multiple €25.52 €34.03 €42.53 58
P/B Multiple €25.52 €34.03 €42.53 55
EV/EBIT €39.56 €54.89 €70.23 53
EV/EBITDA €43.14 €59.67 €76.20 54
EV/Revenue €26.39 €40.46 €54.53 43
Asset-Based
NCAV (Graham) €9.17 €12.28 €18.33 50
Growth DCF
Growth DCF €17.50 €26.65 €39.00 80
Rev-Margin DCF €21.49 €37.09 €53.42 74
Economic Profit
Residual Income €16.58 €18.75 €29.73 76
ROIC Compounder €19.81 €25.48 €31.86 72
Growth Earnings
Growth-Adj P/E €23.33 €33.32 €43.32 68

Widest divergence: Multiples (€40.46) versus Asset-Based (€12.28). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) €19.4B
Revenue growth (YoY) -0.2%
Net margin 3.0%
Return on equity 10.8%
Free cash flow €650M FY2025
P/E ratio 18.7
More key figures
Operating margin 5.8%
EPS (TTM) €1.99
Dividend yield 3.1%
EPS growth (YoY) -24.8%
Net debt €4.1B FY2025

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

Quality Score breakdown

Overall quality 62/100

Of which business quality 61 · Market factors (momentum, volatility) 67

Profitability 54
Margins and returns on capital today
Quality Growth 51
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 55
Balance sheet, leverage, solvency risk
Investment 93
Disciplined investing over empire-building
Low Volatility 67
Calm price path (market factor)
Momentum 60
Price trend over the last 3–12 months (market factor)
52W Momentum 78
Distance to the 52-week high (market factor)
Net Issuance 86
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.

About the company

Rexel S.A., together with its subsidiaries, engages in the distribution of low voltage electrical products for the residential, commercial, and industrial markets in France, rest of Europe, North America, and the Asia-Pacific. The company offers electrical supplies and solutions including industrial control, automation and specialty products.

Full company description

Rexel S.A., together with its subsidiaries, engages in the distribution of low voltage electrical products for the residential, commercial, and industrial markets in France, rest of Europe, North America, and the Asia-Pacific. The company offers electrical supplies and solutions including industrial control, automation and specialty products. It also offers a range of digital channels: automated logistics, webshops, mobile apps, online tools for product configuration, and electronic data interchanges. The company was founded in 1967 and is headquartered in Paris, France.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Rexel S.A reported revenue of €19.4B in FY2025 versus €14.7B in FY2021, a compound +7.2%/yr. Reported net income was €589M in FY2025, compounding −0.3%/yr from FY2021.

Growth Quality 73/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
€19.4B
Latest YoY
+0.7%
Avg. 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.
+1.3%
Avg. growth/yr (5Y) 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.
+9.0%
Avg. growth/yr (25Y) 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.
−3.4%
Revenue +7.2%/yr
FY21 €14.7B
FY22 €18.7B
FY23 €19.2B
FY24 €19.3B
FY25 €19.4B
Net income −0.3%/yr
FY21 €597M
FY22 €922M
FY23 €775M
FY24 €339M
FY25 €589M
Character of growth · EPS growth decomposed (2014-2025) +19.0 % p.a.
Revenue per share +4.2 pp

of which total revenue +4.2 pp · buybacks/dilution +0.0 pp

EBIT margin +6.2 pp
Tax rate +2.6 pp
Residual (interest, one-offs) +6.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

RXL screens 14% overvalued. Compare with TD SYNNEX Corporation →

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Cite: Fair Value Calculator (2026). "Rexel S.A Fair Value". https://www.fairvalue-calculator.com/stock/RXL

Recent news

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

Peer Group

Electronics & Computer Distribution · 157 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 62 · Top 25%
Fair Value upside −15% · Below median
Return on equity (TTM) 11% · Above median
Return on assets 5% · Above median
Net margin (TTM) 3% · Above median
Operating margin (TTM) 6% · Top 25%
Revenue growth -0% · Below median
Dividend yield (TTM) 3.1% · Above median
Debt / equity 0.54× · Higher than 75% of peers

Valuation Multiples vs Electronics & Computer Distribution median · lower = cheaper

P/E (TTM) 18.7× · Cheaper than median
P/B 2.44× · Pricier than 75% of peers
P/S (TTM) 0.68× · Pricier than median
P/FCF 20.2× · Pricier than 75% of peers
EV/EBITDA 12.9× · Pricier than median
PEG 1.12× · Cheaper than median

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.

VALUE 14 · sector 27
FUTURE 0 · sector 63
PAST 43 · sector 33
HEALTH 73 · sector 98
DIVIDEND 62 · sector 41

Insider activity: 40/100

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electronics & Computer Distribution stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
TD SYNNEX Corporation SNX $255.21 $289.83 +14%
Unisplendour Corporation 000938 ¥39.60 ¥16.52 -58%
Arrow Electronics, Inc ARW $210.30 $114.08 -46%
Avnet, Inc AVT $97.31 $77.07 -21%
WPG Holdings 3702 123.50 TWD 148.26 TWD +20%
Nanjing Sunlord Electronics Corporation 300975 ¥27.41 ¥12.34 -55%
Shenzhen Huaqiang Industry Co 000062 ¥23.53 ¥7.52 -68%
Shenzhen H&T Intelligent Control Co. 002402 ¥21.59 ¥20.12 -7%
Topco Scientific Co 5434 532.00 TWD 473.70 TWD -11%
Beijing Tricolor Technology Co 603516 ¥98.79 ¥20.75 -79%

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Frequently asked questions

Is Rexel S.A (RXL) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of €32.05 versus a price of €37.12, about −14% (overvalued).
What is the fair value of RXL?
Our model-based fair value for Rexel S.A is €32.05 (as of Aug 13, 2026), built from audited fundamentals. The current price is €37.12.
What is the quality score of RXL?
Rexel S.A has a Quality Score of 62/100. 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 Rexel S.A (RXL)?
Rexel S.A reported trailing-twelve-month revenue of about €19.4B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of RXL?
The net profit margin of Rexel S.A is about 3.0%, meaning it keeps roughly 3.0% of revenue as net income. Based on the latest reported figures.
Does Rexel S.A pay a dividend?
Rexel S.A currently shows a dividend yield of about 3.25% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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