La Française de l'Energie S.A.

FDE.PA

Oil & Gas Exploration & Production · Energy

Price

€29.55

+0.05 (+0.17%)

Market Cap

€156.0M

Exchange

Euronext Paris

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 23, 2026 · filings through Dec 31, 2025

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Good

Stability

Weak

Valuation

Good

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Share count rising — dilution

+2.4% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 5.2M (2021) → 5.3M (2025)

Winston Score History

The full picture

La Française de l'Energie is a small French energy company that produces natural gas from coal beds, a process called coal mine methane (CMM) extraction. It captures gas from old, abandoned coal mines in northern France and sells that gas to energy buyers, mainly utilities and industrial customers. The company is one of the very few operators in Europe focused specifically on this niche type of gas production.

The company earns money by selling the natural gas it extracts, and it also generates some revenue from biogas and renewable energy projects. It operates almost entirely in France, making it a very small, geographically concentrated producer with a market value of around $200 million. Its main competitive edge is its access to licensed coal mine sites in France, which are hard for competitors to replicate, but its key risk is dependence on French energy policy and gas prices, both of which can shift quickly and significantly affect its thin operating margins.

Growth Profile

For growth stock investors

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

Revenue Growth

+16.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

-52.9% YoY

YoY Growth Rate

Earnings declining

R&D Spend

€0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (1%)

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

Insider Activity

31.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~8 months

€64M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

La Française de l'Energie S.A. 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.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

45.9%

Healthy — 45.9% gross margin

Profit after running costs

Operating Margin

5.1%

Thin — 5.1% operating margin

Return on the money invested

ROCE

1.5%

Weak — 1.5% 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

+23.4%

Fast-growing sales (+23.4% YoY)

Profit growth

EPS YoY

-42.0%

Earnings shrinking (-42.0% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

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

341%

Turns 341% of profit into real cash

Spare cash per sale

FCF Margin

-97.8%

Burning cash (-97.8%)

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

1.36

Elevated debt (1.36)

Covers its interest

Interest Cover

0.37x

Dangerous — barely covers interest (0.4x)

Interest coverage below 1. Their profits don't cover the interest bill.

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Valuation

Price vs profit

P/E Ratio (TTM)

57.9x

Expensive — P/E 57.9

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year

P/E vs Forward

+39.1

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (57.9 → 18.9)

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Dividends

Not applicable for this business.

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