European Medical Solutions (ALEMS.BR) 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

-715.8%

-€21.06

vs €3.42 price

Levered DCF

-€17.50

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.72

Distress 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	12.09×	46.15×	-46.94×	-14.83×	-22.4×	-3.57×	-0.41×	-1.9×
P/B	1.82×	2.46×	3.44×	7.78×	0.5×	-0.86×	-1.52×	4.2×
P/S	0.44×	0.56×	0.84×	2.23×	0.14×	13.54×	5.96×	47.6×
EV / EBITDA	7.5×	11.98×	24.91×	-74.42×	8.03×	-16.82×	22.79×	-1.66×
Gross margin	32.9%	33.1%	33.3%	37.2%	36.3%	100.0%	100.0%	100.0%
Operating margin	5.4%	2.8%	-0.3%	-14.3%	0.1%	-249.9%	-1498.0%	-2236.9%
Net margin	3.7%	1.2%	-1.7%	-15.1%	-0.6%	-379.4%	-1470.3%	-2509.2%
Current ratio	1.43×	1.6×	1.62×	1.51×	1.56×	0.3×	0.39×	1.98×
Debt / equity	1.58×	2.02×	1.81×	1.38×	1.25×	-1×	-1.24×	0.33×
Interest coverage	3.63×	1.83×	-0.31×	-22.33×	0.15×	-1.78×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	9.7%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	-216.2%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.3%	5.3%	-7.2%	-52.4%	-2.2%	24.2%	374.9%	-221.4%
Return on invested capital	7.4%	2.6%	-0.4%	-20.2%	0.1%	-586.3%	-1396.8%	-148.9%
Return on assets	3.6%	1.1%	-1.6%	-14.0%	-0.7%	-26.5%	-230.0%	-123.9%
Free cash flow yield	11.3%	-4.0%	-14.2%	-0.1%	-29.1%	-28.3%	-205.9%	-49.3%
Earnings yield	8.4%	2.2%	-2.1%	-6.7%	-4.5%	-28.0%	-246.6%	-52.7%
Enterprise value	€36.2M	€41.7M	€47.8M	€93.2M	€16.5M	€7.7M	€7.9M	€20.8M
Net debt / EBITDA	2.94×	4.68×	7.16×	-8.32×	5.4×	-6.15×	4.39×	0.51×
Cash conversion cycle (days)	107	104	147	162	151	189	10	0