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S.T. Dupont S.A.

DPT.PA
52
Luxury Goods · Consumer Cyclical
Exchange
Euronext Paris
Winston Score
52
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 23, 2026 · filings through Mar 31, 2026
How the score breaks down
Quality
Good
Growth
Mixed
Cash Flow
Mixed
Stability
Exceptional
Valuation
Weak

Winston Score History

The full picture

S.T. Dupont is a French luxury brand that makes high-end lighters, pens, leather goods, and accessories. Its products are sold to wealthy consumers who want premium, handcrafted items with a long heritage. The company was founded in Paris in 1872 and is known for its iconic "cling" sound made by its signature lighters.

S.T. Dupont earns money by selling its products through its own boutiques, department stores, and online, with a focus on Europe and Asia — particularly China and Japan. The brand's main competitive advantage is its long history and craftsmanship reputation, but it is a very small player in a luxury market dominated by giants like LVMH and Richemont. The company is currently losing money, as shown by its negative operating margin, and its key challenge is growing sales fast enough to cover its fixed costs while competing against much larger and better-funded luxury brands.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
55.4%
Premium pricing power — 55.4% gross margin
Profit after running costs
Operating Margin
19.8%
Healthy — 19.8% operating margin
Return on the money invested
ROCE
8.0%
Below par — 8.0% 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
-1.8%
Shrinking sales (-1.8% YoY)
Profit growth
EPS YoY
-52.8%
Earnings shrinking (-52.8% YoY)

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

How steady the profit is
EPS Consistency
7/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
63%
Modest — 63% of profit becomes cash
Spare cash per sale
FCF Margin
-0.7%
Burning cash (-0.7%)

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
0.17
Conservative — low debt load (0.17)
Covers its interest
Interest Cover
14.00x
Comfortably covers interest (14.0x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
52.6x
no trend
Expensive — P/E 52.6

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

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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