clearvise AG (ABO.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

-67.5%

€0.37

vs €1.15 price

Levered DCF

-€0.27

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.3

Distress zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

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

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-517.86×	172.92×	23.59×	7.12×	-37.88×	49.14×	-289.87×	-87.74×
P/B	0.71×	0.78×	1.01×	1.74×	2.21×	3×	3.11×	2.93×
P/S	6.02×	3.47×	3.6×	2.8×	3.77×	3.19×	3.51×	3.54×
EV / EBITDA	5.67×	13×	9.11×	6.97×	12.28×	9.28×	10.48×	11.38×
Gross margin	92.7%	84.6%	55.3%	61.3%	41.1%	47.0%	40.1%	98.8%
Operating margin	23.2%	18.3%	34.3%	46.7%	6.5%	19.3%	17.0%	16.8%
Net margin	-1.1%	2.0%	15.2%	32.7%	-10.0%	6.5%	-1.2%	-4.0%
Current ratio	1.28×	1.63×	1.53×	1.26×	1.17×	1.14×	1.02×	0.92×
Debt / equity	0.22×	1.21×	1.1×	2.43×	2.98×	3.72×	4.32×	4.68×
Interest coverage	0.91×	1.21×	2.08×	4.07×	0.45×	1.38×	0.97×	0.84×
Dividend yield	4.1%	0.0%	0.0%	0.0%	0.0%	0.8%	0.4%	0.0%
Payout ratio	-2169.4%	0.0%	0.0%	0.0%	0.0%	41.4%	-122.2%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-0.1%	0.5%	4.3%	20.3%	-5.8%	6.1%	-1.1%	-3.3%
Return on invested capital	1.1%	0.7%	3.6%	7.2%	0.9%	3.6%	2.8%	2.4%
Return on assets	-0.1%	0.2%	1.9%	5.9%	-1.4%	1.3%	-0.2%	-0.6%
Free cash flow yield	-18.4%	-15.4%	10.0%	8.3%	-1.6%	17.7%	14.7%	10.6%
Earnings yield	-0.2%	0.6%	4.2%	11.7%	-2.6%	2.0%	-0.3%	-1.1%
Enterprise value	€129.3M	€303.4M	€293.3M	€359.5M	€268.3M	€242.9M	€262.9M	€276.6M
Net debt / EBITDA	0.88×	7.64×	4.1×	3.44×	6.6×	4.84×	5.85×	6.76×
Cash conversion cycle (days)	-837	-119	-5	-19	44	40	34	-1,314