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Deep Value: cash covers more than 100% of the stock price

This company holds roughly €85.7M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Stock

ACTIA Group S.A.

ALATI.PA
44
Auto - Parts · Consumer Cyclical
Also trades as: 0OJJ.L GBP 0.04 (-1.72%)
Price
€3.68
+0.01 (+0.27%)
Market Cap
€73.9M
Exchange
Euronext Paris
Winston Score
44
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 8, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
9/30
Growth
Mixed
7/20
Cash Flow
Strong
7/10
Stability
Mixed
4/10
Valuation
Good
5/10
Ownership
Good
10/15
Dividends
Mixed
2/5

44 of 100 counted points = Winston Score 44.

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§Winston Score History

The full picture

ACTIA Group is a French electronics company that makes specialized equipment for vehicles. Its main products include diagnostic tools, telematics systems, and electronic control units used in cars, trucks, buses, and trains. The company sells mostly to vehicle manufacturers and fleet operators, and it competes in the niche market of embedded vehicle electronics.

ACTIA earns revenue by selling hardware and software systems directly to automakers and transport companies. It operates mainly in Europe, with some presence in North America, Africa, and Asia, and generates roughly €700 million in annual revenue. Its long-standing relationships with vehicle manufacturers and deep technical expertise in diagnostics give it some competitive footing, but its very thin margins — with gross margin near 2% and operating margin below 1% — leave almost no room for error. The key risk is that low profitability makes the business highly vulnerable to rising input costs, supply chain disruptions, or any slowdown in vehicle production across its core European markets.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+1.0% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+101.6% YoY

YoY Growth Rate

Strong earnings growth

R&D Spend

€0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

74.3%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~15 months

€56M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Adequate runway but may need to raise capital within 2 years

Growth context

ACTIA Group S.A. is growing revenue at 1% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

+0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 20.1M (2021) → 20.1M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
51.7%
Healthy — 51.7% gross margin
Profit after running costs
Operating Margin
1.8%
Thin — 1.8% operating margin
Return on the money invested
ROCE
3.4%
Weak — 3.4% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth
Sales YoY
+3.0%
Slow sales growth (+3.0% YoY)
Profit growth
EPS YoY
N/A
Data not available
How steady the profit is
EPS Consistency
5/8 quarters
Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash
Cash Conversion
526%
Turns 526% of profit into real cash
Spare cash per sale
FCF Margin
3.3%
Thin free cash flow (3.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
1.45
Elevated debt (1.45)
Covers its interest
Interest Cover
2.59x
Tight — interest eats into profit (2.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit
P/E Ratio (TTM)
10.2x
Attractive valuation — P/E 10.2

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year
P/E vs Forward
-1.4
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
2.91%
Moderate income — 2.91% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
-7.7%
Dividend cut (-7.7% YoY) — warning sign

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