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Ayvens

AYV.PA
45
Rental & Leasing Services · Industrials
Exchange
Euronext Paris
Winston Score
45
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Jun 30, 2026
How the score breaks down
Quality
Mixed
Growth
Good
Cash Flow
Good
Stability
Weak
Valuation
Good

Winston Score History

The full picture

Ayvens is a vehicle leasing and fleet management company based in France. It rents cars and vans to businesses — mostly large corporations — handling everything from financing the vehicle to maintenance, insurance, and eventually selling the car when the lease ends. Ayvens was created in 2023 when Société Générale's leasing arm, ALD Automotive, merged with LeasePlan, making it one of the largest fleet leasing companies in the world.

The company makes money by charging monthly lease fees to business customers and by selling used vehicles at the end of each contract. It operates across more than 40 countries, primarily in Europe, with a fleet of roughly 3.5 million vehicles. Its scale gives it purchasing power with automakers and a large used-car sales network, which are real advantages over smaller rivals. The main risk the business faces is the unpredictable resale value of used cars — if those prices fall sharply, profits can drop quickly, as seen in recent years.

Growth Profile

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

Revenue Growth

+0.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+8.9% YoY

YoY Growth Rate

Slow EPS growth

Insider Activity

66.8%ownership

Flat

Insider ownership roughly steady over the past year

Cash Runway

~2 months

€2.6B cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Ayvens has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

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.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
14.5%
Thin — 14.5% gross margin
Profit after running costs
Operating Margin
12.3%
Healthy — 12.3% operating margin
Return on the money invested
ROCE
8.9%
Below par — 8.9% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+33.4%
Fast-growing sales (+33.4% YoY)
Profit growth
EPS YoY
+63.9%
Earnings growing fast (+63.9% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
973%
Turns 973% of profit into real cash
Spare cash per sale
FCF Margin
-27.7%
Burning cash (-27.7%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns
Debt / Equity
3.24
Heavy debt load (3.24)
Covers its interest
Interest Cover
2.36x
Tight — interest eats into profit (2.4x)

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)
8.8x
no trend
Attractive valuation — P/E 8.8

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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