MG International (ALMGI.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

+317.9%

€9.61

vs €2.30 price

Levered DCF

€4.06

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.54

Grey zone

Rating

A-

Overall 4 / 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	15×	16.3×	8.05×	5.61×	9.83×	4.67×	8.44×	6.94×
P/B	0.32×	0.69×	0.97×	1.21×	2.51×	1.24×	1.17×	1×
P/S	0.22×	0.38×	0.45×	0.45×	0.75×	0.38×	0.33×	0.27×
EV / EBITDA	-0.7×	8.56×	5.62×	4.55×	6.38×	2.76×	6.02×	5.81×
Gross margin	29.5%	15.7%	18.8%	33.0%	30.5%	33.6%	34.3%	36.0%
Operating margin	0.0%	2.3%	6.4%	9.5%	8.7%	9.6%	5.3%	5.4%
Net margin	1.5%	2.3%	5.6%	8.0%	7.6%	8.1%	3.9%	3.9%
Current ratio	4.48×	7.02×	4.99×	2.37×	1.98×	2.09×	2.13×	1.67×
Debt / equity	0.04×	0.06×	0.09×	0.11×	0.05×	0.33×	0.51×	0.63×
Interest coverage	0.18×	13.31×	23.5×	160.12×	284.16×	57.43×	24.17×	19.82×
Dividend yield	0.0%	7.7%	5.5%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	126.7%	44.4%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.2%	4.2%	11.9%	21.5%	25.5%	26.3%	13.9%	14.4%
Return on invested capital	0.1%	2.6%	11.2%	19.3%	21.0%	18.2%	11.0%	11.5%
Return on assets	1.7%	2.4%	9.3%	13.7%	12.8%	13.8%	6.8%	5.7%
Free cash flow yield	27.2%	14.0%	18.2%	-42.5%	15.5%	39.4%	0.7%	6.3%
Earnings yield	6.8%	6.1%	12.3%	17.8%	10.1%	21.3%	11.8%	14.4%
Enterprise value	-€542K	€19.3M	€30M	€39.4M	€47.1M	€18M	€20.2M	€16M
Net debt / EBITDA	-14.74×	-1.53×	-0.38×	0.24×	-1.87×	-0.67×	1.33×	1.66×
Cash conversion cycle (days)	161	244	146	180	36	72	137	119