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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
-966.8%
-€2.17
vs €0.25 price
Levered DCF
-€6.07
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
1.29
Distress zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E6.84×8.57×-0.35×-0.82×-0.62×-3.64×-0.25×-0.87×
P/B1.25×-7.44×-0.21×-0.22×-0.76×-0.99×-0.61×1.17×
P/S0.24×0.21×0.05×0.07×0.34×0.5×0.25×0.32×
EV / EBITDA24.68×1.91×-1.19×3.34×-0.2×-11.4×-0.52×-1.4×
Gross margin25.5%8.9%1.6%22.1%20.5%26.0%14.9%12.1%
Operating margin-0.2%3.3%-6.8%-18.5%-27.4%-9.5%-99.7%-35.6%
Net margin3.5%2.5%-13.2%-8.5%-55.7%-13.6%-103.1%-37.0%
Current ratio2.55×1.56×1.32×1.62×2.41×1.52×0.96×1.78×
Debt / equity0.98×-9.03×-2.66×-1.55×-1.67×-1.09×-0.97×1.25×
Interest coverage0×3.24×-22.8×-97.93×-68.13×-1.69×-64.58×-28.9×
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 equity18.3%-87.0%60.2%26.4%124.0%27.2%247.6%-133.5%
Return on invested capital0.0%6.3%-10.1%-28.6%-21.4%-18.1%905.1%-58.4%
Return on assets4.1%3.2%-10.0%-6.2%-35.7%-15.4%-120.3%-33.5%
Free cash flow yield17.4%15.6%-474.5%-511.3%-102.4%-17.0%-4.8%-23.1%
Earnings yield14.6%11.7%-284.7%-122.1%-163.2%-27.5%-405.8%-114.4%
Enterprise value€7.1M€4.6M€2.1M-€4M€884.2K€14.8M€16.2M€28.2M
Net debt / EBITDA-15.57×-0.81×-0.67×4.16×0.97×-2.68×-0.23×-0.38×
Cash conversion cycle (days)35-725-108-55-5959214