ABO Energy GmbH & Co. KGaA (AB9.DE) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-105450.1%

-€3,165.77

vs €3.01 price

Levered DCF

-€1,557.54

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.33

Grey zone

Rating

—

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
P/E	13.03×	13.72×	27.79×	37.2×	32.68×	12.06×	10.18×	7.66×
P/B	1.56×	1.94×	4.02×	3.43×	3.05×	1.33×	1.46×	1.63×
P/S	0.75×	1.25×	2.95×	4.05×	2.87×	1.09×	0.86×	0.89×
EV / EBITDA	10.72×	10.49×	17.16×	24.23×	18.77×	7.97×	5.85×	5.73×
Gross margin	47.7%	62.1%	33.9%	34.5%	29.7%	31.5%	52.6%	52.4%
Operating margin	14.3%	29.3%	35.2%	14.7%	11.9%	14.4%	20.3%	16.9%
Net margin	5.7%	9.1%	10.6%	10.9%	8.8%	9.0%	8.5%	11.6%
Current ratio	6.17×	11.06×	7.18×	7.82×	9.39×	5.17×	5.26×	4.62×
Debt / equity	1.48×	1.11×	1.05×	0.66×	0.52×	0.86×	0.7×	0.67×
Interest coverage	5.04×	12.09×	14.53×	8.59×	8×	9.78×	16.97×	14.64×
Dividend yield	1.7%	1.3%	0.7%	0.8%	0.8%	2.3%	2.4%	2.9%
Payout ratio	21.6%	18.3%	18.4%	30.1%	27.1%	28.2%	24.0%	22.5%

Key metrics by fiscal year

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Return on equity	12.0%	14.1%	14.5%	9.2%	9.4%	11.0%	14.3%	21.4%
Return on invested capital	7.5%	12.9%	13.3%	4.7%	4.9%	5.4%	12.1%	13.3%
Return on assets	3.9%	5.5%	5.4%	4.6%	5.3%	4.7%	6.6%	9.8%
Free cash flow yield	-2.2%	-18.0%	-3.2%	-10.8%	9.0%	-19.0%	-22.7%	23.2%
Earnings yield	7.7%	7.3%	3.6%	2.7%	3.1%	8.3%	9.8%	13.1%
Enterprise value	€572.2M	€551M	€775.6M	€595.7M	€447.9M	€216.8M	€187.3M	€150.5M
Net debt / EBITDA	4.48×	3.36×	2.02×	3.3×	0.84×	2.92×	1.8×	0.78×
Cash conversion cycle (days)	522	666	555	799	437	596	500	353