paragon (FRA: PGN)

Last close As at 18/04/2024

3.02

−0.02 (−0.66%)

Market capitalisation

14m

paragon designs and manufactures advanced automotive electronics solutions as a direct supplier to the automotive industry. Products include: sensors; acoustics; cockpit; electromobility, and body kinematics.

Latest Insights

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Industrials | Update

paragon — Navigating the road to growth

Industrials | Update

paragon — A dip in the road ahead

Industrials | Update

paragon — Navigating the road to redemption

Industrials | Update

paragon — Radically improving the investment case

Sector

Industrials

Balance Sheet

Forecast net debt (€m)

46.6

Forecast gearing ratio (%)

630

Share Price Performance

Price Performance
% 1M 3M 12M
Actual 31.3 (15.6) (41.0)
Relative 26.8 (24.0) (50.0)
52 week high/low €6.4/€2.1

Financials

While we believe H223 represents a pause in growth at paragon’s ongoing automotive operations, we are cutting our near-term EBITDA margin contribution from the Electronics segment. As a result, we lower our FY23e and FY24e sales estimates by 2% and 3% and EBITDA by 25% and 17% respectively, reducing our DCF valuation to €9.4/share.

Y/E Dec Revenue (€m) EBITDA (€m) PBT (€m) EPS (fd) (c) P/E (x) P/CF (x)
2021A 135.4 15.1 (3.5) (71.53) N/A 0.7
2022A 160.3 11.6 (7.9) (115.05) N/A 0.8
2023E 161.5 15.8 (5.0) (59.68) N/A 1.8
2024E 172.1 20.2 5.8 83.65 3.6 0.8

Research

Update

Industrials

paragon — Radically improving the investment case

Flash note

Industrials

paragon — Further progression of debt reduction plans

QuickView

Industrials

paragon — Agreement to sell paragon semvox

Update

Industrials

paragon — Building momentum in Q222

Outlook

Industrials

paragon — Refocused automotive growth strategy

QuickView

Industrials

paragon — Focused on growing automotive technology

QuickView

Industrials

paragon — Refocusing on automotive innovation

Further insights

insight

Industrials

paragon: EKF 2023 QuickView

Thematics

thematic

Industrials

Deutsches Eigenkapitalforum (EKF) 2023 industrials

thematic

Industrials

The long and winding road

thematic

Industrials

Quantum computing: A booming industry

thematic

Industrials

UK housebuilders

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