Baikowski S.A. (ALBKK.PA) 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

+0.9%

€20.14

vs €19.95 price

Levered DCF

€22.06

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.69

Grey zone

Rating

Overall 3 / 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	22.94×	15.15×	67.31×	9.27×	11.68×	30.57×	18.87×	11.31×
P/B	1.86×	1.25×	1.53×	1.37×	1.94×	1.17×	1.48×	1.7×
P/S	1.69×	1.2×	1.79×	1.14×	1.77×	1.1×	1.21×	1.2×
EV / EBITDA	10.92×	7.86×	31.17×	6.71×	8.74×	10.14×	11.19×	6.95×
Gross margin	24.2%	22.7%	24.3%	27.4%	28.4%	18.1%	18.7%	30.2%
Operating margin	5.9%	9.9%	-1.2%	15.4%	15.7%	4.8%	2.0%	14.8%
Net margin	7.4%	7.9%	2.6%	12.3%	15.1%	3.6%	6.5%	10.6%
Current ratio	2.09×	2.23×	2.01×	2.19×	2.73×	1.49×	2.06×	1.94×
Debt / equity	0.36×	0.29×	0.37×	0.32×	0.34×	0.65×	0.72×	0.5×
Interest coverage	8.26×	11.11×	-1.09×	65.1×	39.99×	6.53×	4.89×	18.76×
Dividend yield	1.3%	0.0%	3.4%	5.2%	0.0%	0.0%	0.0%	7.2%
Payout ratio	29.4%	0.0%	234.8%	47.9%	0.0%	0.0%	0.0%	81.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.1%	8.3%	2.2%	14.8%	16.6%	3.8%	7.9%	15.0%
Return on invested capital	3.9%	7.1%	-0.2%	11.4%	11.3%	2.6%	1.3%	10.2%
Return on assets	5.1%	5.5%	1.4%	9.6%	10.4%	2.0%	3.9%	7.8%
Free cash flow yield	1.3%	11.2%	-3.7%	4.8%	11.3%	12.2%	-3.5%	13.1%
Earnings yield	4.4%	6.6%	1.5%	10.8%	8.6%	3.3%	5.3%	8.8%
Enterprise value	€94.3M	€65.1M	€72.7M	€65.4M	€83.7M	€53.7M	€68.1M	€60.3M
Net debt / EBITDA	0.98×	0.94×	3.64×	0.5×	0.48×	2.74×	3.12×	1.11×
Cash conversion cycle (days)	156	158	210	165	136	164	146	117