Ikonisys S.A. (ALIKO.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

-576.5%

-€6.72

vs €1.41 price

Levered DCF

-€14.03

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.51

Distress zone

Rating

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
P/E	-5.33×	-5.14×	-7.09×	-5.58×	-48.17×	-24.5×	-20.63×
P/B	1.16×	1.17×	1.04×	0.78×	1.37×	6.68×	6.25×
P/S	16.02×	16.52×	36.35×	14.7×	75.3×	381.25×	556.17×
EV / EBITDA	-19.15×	-11.75×	-21.24×	-11.96×	-56.29×	140.06×	-212.06×
Gross margin	64.6%	70.8%	57.0%	80.4%	7.8%	72.9%	6.9%
Operating margin	-290.7%	-301.7%	-489.1%	-282.1%	-154.5%	205.1%	-366.6%
Net margin	-302.8%	-320.4%	-505.5%	-261.8%	-156.5%	-1575.0%	-2745.6%
Current ratio	0.48×	0.55×	0.3×	0.46×	1.52×	0.03×	0.12×
Debt / equity	0.17×	0.29×	0.22×	0.14×	0.06×	0.03×	0.05×
Interest coverage	-13.27×	-16.37×	-29.68×	-194.88×	-110.48×	0.12×	-0.15×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-22.0%	-22.7%	-14.4%	-13.9%	-2.9%	-27.6%	-30.9%
Return on invested capital	-17.9%	-12.0%	-11.8%	-12.9%	-2.6%	3.5%	-3.9%
Return on assets	-15.7%	-11.8%	-10.9%	-11.3%	-2.5%	-19.4%	-23.1%
Free cash flow yield	-5.2%	-8.2%	-8.9%	-14.6%	-4.9%	-4.0%	0.0%
Earnings yield	-18.9%	-19.4%	-13.9%	-17.8%	-2.1%	-4.1%	-4.9%
Enterprise value	€24.5M	€20.8M	€19.7M	€16.2M	€27.2M	€38.2M	€38.2M
Net debt / EBITDA	-1.74×	-2.32×	-3.66×	-1.78×	0.57×	0.59×	-0.69×
Cash conversion cycle (days)	-591	-1,059	-1,540	-1,256	-4,180	-10,858	-4,361