Stock

Sogeclair S.A.

ALSOG.PA
60
Aerospace & Defense · Industrials
Also trades as: 0OQ2.L GBP 0.30 (-1.62%)
Price
€30.40
+0.20 (+0.66%)
Market Cap
€92.9M
Exchange
Euronext Paris
Winston Score
60
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Oct 8, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
12/30
Growth
Good
12/20
Cash Flow
Strong
8/10
Stability
Exceptional
9/10
Valuation
Good
5/10
Ownership
Good
10/15
Dividends
Strong
4/5

60 of 100 counted points = Winston Score 60.

Share count rising — dilution

+4.7% over 4y

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

Diluted shares outstanding: 3.1M (2021) → 3.2M (2025)

§Winston Score History

The full picture

Sogeclair is a French engineering and technology services company that works mainly in the aerospace, defense, and transportation industries. It helps clients design, simulate, and manufacture complex systems — offering services like digital engineering, embedded software, and production support. Its main customers are large aerospace manufacturers such as Airbus, along with defense contractors and rail companies.

The company earns revenue primarily by selling engineering services and technical expertise on a project or contract basis, rather than through recurring subscriptions. Sogeclair operates mainly in Europe, with France as its home base, and generates roughly €200 million in annual revenue, making it a small-cap player in a sector dominated by much larger firms. Its close, long-standing relationships with Airbus give it a degree of stability, but also create customer concentration risk — meaning that any slowdown in Airbus production programs or budget cuts could have an outsized impact on Sogeclair's results.

Score breakdown

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Quality

Profit per sale
Gross Margin
0.0%
Thin — 0.0% gross margin
Profit after running costs
Operating Margin
7.9%
Modest — 7.9% operating margin
Return on the money invested
ROCE
19.9%
Strong — 19.9% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
-0.4%
Shrinking sales (-0.4% YoY)
Profit growth
EPS YoY
+34.2%
Earnings growing fast (+34.2% YoY)

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

How steady the profit is
EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash
Cash Conversion
285%
Turns 285% of profit into real cash
Spare cash per sale
FCF Margin
10.0%
Modest free cash flow (10.0%)

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
0.43
Conservative — low debt load (0.43)
Covers its interest
Interest Cover
29.11x
Comfortably covers interest (29.1x)

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

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Valuation

Price vs profit
P/E Ratio (TTM)
13.8x
Attractive valuation — P/E 13.8

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
-19.6
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
3.09%
Moderate income — 3.09% yield

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

Dividend record
Dividend Growth
+12.8%
Dividend growing fast (12.8% YoY)

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