AL2SI Stock Analysis: 2CRSI S.A. | PA
Computer Hardware | PA, France | Market Cap: 560m EUR | 12M Return: 106.4% | FR0013341781 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 6.07M
Qual. Beats: 0
Rev. Trend: 47.4%
Warnings
Tailwinds
Seasonality 8.2 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
2CRSI S.A. (AL2SI) is a French designer, manufacturer, and distributor of end-to-end computing solutions, headquartered in Strasbourg and founded in 2004. The companys product portfolio spans GPU and AI servers, mainstream and high-density compute servers, rugged servers, OCP-compliant rack solutions (including the OCtoPus 21 family), high-performance workstations, and microclusters, complemented by air, direct liquid, and immersion cooling systems. It also delivers HPC services for data science, AI/ML/DL workloads, as well as cloud, gaming, and edge computing solutions to customers in France and abroad.
Listed on Euronext Paris as a small-cap stock (~$749M) within the Information Technology sector, 2CRSI operates in the Technology Hardware, Storage & Peripherals industry. The company sits in the niche HPC and AI infrastructure segment, where demand is closely tied to data center build-outs and the expansion of GPU-accelerated computing for artificial intelligence and machine learning workloads. Its inclusion of immersion cooling and edge computing offerings reflects two structural trends in the server market: rising rack power densities driven by AI accelerators, and the decentralization of compute capacity closer to data sources.
- GPU and AI server demand accelerates order book growth
- Immersion and liquid cooling solutions expand data center revenue mix
- Competition from Supermicro and HPE pressures server pricing margins
| Net Income: 12.2m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.18 > 0.02 and ΔFCF/TA 20.71 > 1.0 |
| NWC/Revenue: 3.61% < 20% (prev 19.81%; Δ -16.20% < -1%) |
| CFO/TA 0.21 > 3% & CFO 22.7m > Net Income 12.2m |
| Net Debt (14.7m) to EBITDA (207.6m): 0.07 < 3 |
| Current Ratio: 1.37 > 1.5 & < 3 |
| Outstanding Shares: last quarter (22.3m) vs 12m ago 56.03% < -2% |
| Gross Margin: 4.39% > 18% (prev 13.90%; Δ -9.51% > 0.5%) |
| Asset Turnover: 641.8% > 50% (prev 175.4%; Δ 466.4% > 0%) |
| Interest Coverage Ratio: 247.6 > 6 (EBIT TTM 201.3m / Interest Expense TTM 813k) |
| A: 0.20 (Total Current Assets 80.7m - Total Current Liabilities 58.8m) / Total Assets 108.4m |
| B: 0.08 (Retained Earnings 8.59m / Total Assets 108.4m) |
| C: 2.13 (EBIT TTM 201.3m / Avg Total Assets 94.6m) |
| D: 0.55 (Book Value of Equity 38.7m / Total Liabilities 69.8m) |
| Altman-Z'' = 16.46 = AAA |
| DSRI: 0.28 (Receivables 50.5m/42.7m, Revenue 607.2m/141.8m) |
| GMI: 3.17 (GM 13.90% / 4.39%) |
| AQI: 1.97 (AQ_t 0.16 / AQ_t-1 0.08) |
| SGI: 4.28 (Revenue 607.2m / 141.8m) |
| TATA: -0.10 (NI 12.2m - CFO 22.7m) / TA 108.4m) |
| Beneish M = 1.26 (Cap -4..+1) = D |
As of October 13, 2026, the stock is trading at EUR 29.18 with a total of 784,742 shares traded. Over the past week, the price has changed by +8.15%, over one month by +6.50%, over three months by -1.08% and over the past year by +106.36%.
Current recommended Stop Loss: 24.30 (which is 16.7% or 2.7 ATR below the current price).
2CRSI S.A. has no consensus analysts rating.
P/E Trailing = 67.027
P/S = 1.3821
P/B = 18.024
Revenue TTM = 607.2m EUR
EBIT TTM = 201.3m EUR
EBITDA TTM = 207.6m EUR
Long Term Debt = 11.2m EUR (from longTermDebt, last quarter)
Short Term Debt = 667k EUR (from shortTermDebt, last quarter)
Debt = 23.7m EUR (from shortLongTermDebtTotal, last quarter) + Leases 12.5m
Net Debt = 14.7m EUR (calculated: Debt 23.7m - CCE 8.93m)
Enterprise Value = 574.8m EUR (560.0m + Debt 23.7m - CCE 8.93m)
Interest Coverage Ratio = 247.6 (Ebit TTM 201.3m / Interest Expense TTM 813k)
EV/FCF = 29.79x (Enterprise Value 574.8m / FCF TTM 19.3m)
FCF Yield = 3.36% (FCF TTM 19.3m / Enterprise Value 574.8m)
FCF Margin = 3.18% (FCF TTM 19.3m / Revenue TTM 607.2m)
Net Margin = 2.01% (Net Income TTM 12.2m / Revenue TTM 607.2m)
Gross Margin = 4.39% ((Revenue TTM 607.2m - Cost of Revenue TTM 580.5m) / Revenue TTM)
Gross Margin QoQ = 6.15% (prev 8.59%)
Tobins Q-Ratio = 5.30 (Enterprise Value 574.8m / Total Assets 108.4m)
Interest Expense / Debt = 3.44% (Interest Expense 813k / Debt 23.7m)
Taxrate = 14.51% (2.06m / 14.2m)
NOPAT = 172.1m (EBIT 201.3m * (1 - 14.51%))
Current Ratio = 1.37 (Total Current Assets 80.7m / Total Current Liabilities 58.8m)
Debt / Equity = 0.61 (Debt 23.7m / totalStockholderEquity, last quarter 38.7m)
Debt / EBITDA = 0.07 (Net Debt 14.7m / EBITDA 207.6m)
Debt / FCF = 0.76 (Net Debt 14.7m / FCF TTM 19.3m)
Total Stockholder Equity = 33.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 12.91% (Net Income 12.2m / Total Assets 108.4m)
RoE = 35.98% (Net Income TTM 12.2m / Total Stockholder Equity 33.9m)
RoCE = 445.9% (EBIT 201.3m / Capital Employed (Equity 33.9m + L.T.Debt 11.2m))
RoIC = 415.7% (NOPAT 172.1m / Invested Capital 41.4m)
WACC = 11.84% (E(560.0m)/V(583.7m) * Re(12.22%) + D(23.7m)/V(583.7m) * Rd(3.44%) * (1-Tc(0.15)))
Discount Rate = 12.22% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 85.31 | Cagr: 21.86%
[DCF] Terminal Value 64.23% ; FCFF base≈19.3m ; Y1≈19.4m ; Y5≈20.5m
[DCF] Fair Price = 8.22 (EV 200.3m - Net Debt 14.7m = Equity 185.6m / Shares 22.6m; r=11.84% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: 47.36 | Revenue CAGR: 31.25% | SUE: N/A | # QB: 0
EPS current Year (2026-06-30): EPS=0.94 | Chg30d=-4.10% | Revisions=-25% | GrowthEPS=+0.0% | GrowthRev=+88.3%
EPS next Year (2027-06-30): EPS=2.69 | Chg30d=+0.19% | Revisions=+25% | GrowthEPS=+188.2% | GrowthRev=+172.1%
[Analyst] Revisions Ratio: +0% (up=1, down=1)