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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
-2859.6%
-€13.80
vs €0.50 price
Levered DCF
-€8.88
After debt service
Piotroski score
1 / 9
Weak
Altman Z-score
-0.11
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
P/E-0.97×-0.69×-7.29×81.2×428×597.42×40.11×132.36×
P/B1.21×0.48×1.38×2.02×2.1×5.17×-18.74×-15.25×
P/S0.99×2.43×2.73×2.74×3.42×2.83×2.62×3.77×
EV / EBITDA-1.4×-1.38×-9.87×113.28×186.73×131.79×27.97×81.2×
Gross margin-69.7%-214.0%-35.6%22.8%14.1%1.9%16.9%13.0%
Operating margin-107.0%-340.2%-40.0%1.7%1.2%1.6%10.1%5.0%
Net margin-101.7%-355.0%-37.7%3.5%0.8%0.5%6.7%2.8%
Current ratio1.22×2.54×2.99×4.42×4.2×2.54×1.06×1.15×
Debt / equity0.7×0.46×0.28×0.23×0.14×0.17×-1.93×-1.32×
Interest coverage-67.89×-64.81×-28.3×3.31×1.86×0.97×6.6×2.43×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%1.3%0.8%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%51.8%105.0%
Key metrics by fiscal year
MetricFY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Return on equity-124.7%-70.4%-19.0%2.6%0.5%0.9%-47.8%-11.5%
Return on invested capital-61.9%-45.3%-15.0%1.0%0.6%2.5%57.9%56.9%
Return on assets-38.7%-36.4%-10.4%1.6%0.3%0.5%10.8%4.8%
Free cash flow yield0.0%-35.1%-23.2%0.0%-1.1%-0.4%0.7%-0.8%
Earnings yield-103.3%-145.8%-13.8%1.3%0.2%0.2%2.6%0.8%
Enterprise value€5.4M€6.1M€19M€27.1M€23.9M€18.6M€20.5M€20.4M
Net debt / EBITDA-0.43×-0.62×-1.42×-5.68×-38.34×-22.91×2.2×5.94×
Cash conversion cycle (days)251828566188162119130125