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France
In shortNacon is loss-making, generates cash and holds more cash than debt, with revenue shrinking (−4.3% last year).
Financial health
Mixed
Built from five areas over the last five annual reports. Tap an area to see the figures behind it.
| Operating marginShare of each sale left after running the business, before interest and tax. | -217.5% | 0/100 |
|---|---|---|
| Net marginShare of each sale left as profit after every cost, interest and tax. | -227.7% | 0/100 |
| Return on equityProfit earned on the money shareholders put in. Above 15% is strong. | -361.3% | 0/100 |
| Return on invested capitalProfit earned on all the capital used (equity and debt). Above 10% usually means a real competitive edge. | – | n/a |
Weight in the score: 25%
| Current ratioShort-term assets divided by short-term debts. Below 1 can mean tight cash. | 0.45× | 0/100 |
|---|---|---|
| Debt / equityDebt compared with the shareholders' stake. Above 2 is heavily indebted. | – | 0/100 |
| Net debt / EBITDAYears of operating profit needed to repay net debt. Below 2 is comfortable. | Net cash | 100/100 |
| Interest coverageHow many times operating profit covers interest. Below 2 is risky. | – | n/a |
| Altman Z''Bankruptcy-risk model. Above 2.6 safe, below 1.1 distress. | – | n/a |
Weight in the score: 25%
| Free cash flow marginCash left from each sale after investments. The money that can pay dividends or reduce debt. | 49.7% | 100/100 |
|---|---|---|
| Free cash flow / net incomeHow much accounting profit turns into real cash. Near 1 or above is healthy. | – | n/a |
| Years with positive free cash flow (last 5) | 5 of 5 | 100/100 |
Weight in the score: 20%
| Profitable years (last 5) | 3 of 5 | 60/100 |
|---|---|---|
| Years of revenue decline (last 5) | 1 of 4 | 58/100 |
| Revenue growth volatility | 4.9% | 93/100 |
| Operating margin volatility | 101.0% | 0/100 |
Weight in the score: 20%
| Revenue growth, 3-year average | 1.0% | 22/100 |
|---|---|---|
| EPS growth, 3-year average | – | n/a |
Weight in the score: 10%
Fiscal year 2026 · change vs prior year
European data comes from annual reports in ESEF format (since 2020). Industry and ticker are not provided by this source.
Annual figures as reported. Hover a bar or point for the exact value.
The last 5 fiscal years from the company's annual reports.
EUR millions; negative values in parentheses.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 156 | 156 | 168 | 168 | 161 |
| Operating income | 13 | 17 | 21 | 1.1 | (350) |
| Pre-tax income | 13 | 15 | 16 | (4.7) | (355) |
| Income tax | 3.4 | 2.2 | (1.5) | (3.3) | 11 |
| Net income | 10 | 13 | 18 | (1.3) | (366) |
| Diluted EPS | €0.12 | €0.14 | €0.19 | −€0.01 | −€3.37 |
| Diluted shares (millions) | 86 | 88 | 92 | 108 | 113 |
Not computed: a required balance-sheet item is missing.
4/9
Nine yes-or-no tests on profitability, debt, liquidity and efficiency versus the prior year. 7 to 9 is strong, 0 to 3 is weak.
All figures: filings.xbrl.org (ESEF). Ratios and scores are computed by Scorvest (see how it works). Information only, not investment advice. How it works
Latest annual report: Mar 31, 2026 · Data updated Oct 16, 2026