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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
-116.2%
-€0.19
vs €1.19 price
Levered DCF
-€0.28
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
0.54
Distress zone
Rating
D+
Overall 1 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-10.95×-7.93×-21.43×-10.55×-6.69×-7.37×-6.31×-1.51×
P/B-23.48×-37.58×-34.7×58.83×-11.89×-64.28×15.16×9.79×
P/S0×24.41×1,260.95×124.63×80.13×15×91.39×6.63×
EV / EBITDA-17.93×-11.96×-27.35×-15.61×-11.81×-12×-10.16×-1.98×
Gross margin0.0%-532.0%-4231.0%-1456.4%-1213.0%18.5%-1980.1%-21.4%
Operating margin0.0%-370.3%-8137.9%-1386.6%-1296.4%-224.9%-1824.8%-491.5%
Net margin0.0%-310.9%-5957.2%-1169.5%-1184.9%-203.2%-1434.7%-438.3%
Current ratio2.35×2.31×1.65×2.59×2.1×2.01×2.26×2.66×
Debt / equity-4.07×-6.87×-3.61×6.99×-3.8×-18.64×3.48×3.91×
Interest coverage-7.67×-10.66×-23.74×-47.75×-13.99×-26.69×-92.52×-53.95×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity212.7%478.7%163.9%-552.1%175.8%871.1%-238.0%-647.4%
Return on invested capital-39.8%-50.5%-40.0%-36.6%-38.3%-31.2%-35.0%-88.5%
Return on assets-34.1%-40.5%-30.2%-34.0%-34.3%-29.3%-29.3%-53.1%
Free cash flow yield-9.5%-11.4%-6.9%-10.0%-17.5%-15.9%-21.7%-69.7%
Earnings yield-9.1%-12.7%-4.7%-9.4%-14.8%-13.5%-15.7%-66.1%
Enterprise value€129.2M€111.8M€199.5M€125.3M€86.6M€85.6M€48.4M€17.9M
Net debt / EBITDA-2.05×-1.21×-2.29×-0.79×-1.84×-1.81×-0.57×-0.19×
Cash conversion cycle (days)-1529512,0041,3091,175533139-129