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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
-139.7%
-€0.11
vs €0.27 price
Levered DCF
-€0.11
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
-4.1
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-8.83×-7.08×-1.32×-3.54×-2.41×-6.24×-0.57×-1.85×
P/B-13.62×-4.39×-4.8×3.49×88.22×24.84×0.98×2.46×
P/S0×75.97×28.49×0×0×0×33.8×108.93×
EV / EBITDA-11.19×-10.6×-1.71×-5.37×-4.95×-10.71×-2.12×-1.38×
Gross margin0.0%-133.9%-257.2%0.0%0.0%0.0%-1818.6%-710.7%
Operating margin0.0%-1141.3%-2113.2%0.0%0.0%0.0%-4934.1%-4456.8%
Net margin0.0%-1095.7%-2152.3%0.0%0.0%0.0%-5919.1%-5907.1%
Current ratio0.98×0.42×0.41×1.71×0.61×2.97×0.66×2.74×
Debt / equity-2.28×-1.16×-1.25×0.29×58.49×4.23×2.01×1,361.99×
Interest coverage-5.38×-7.4×-96.31×-3.3×-2.47×-3.12×-3.57×-0×
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 equity154.9%63.3%362.5%-98.3%-3658.3%-400.7%-171.5%-133.5%
Return on invested capital-110.4%-237.5%-696.1%-56.8%-44.4%-55.2%-44.1%37.5%
Return on assets-81.9%-116.6%-227.4%-64.7%-53.9%-62.4%-52.4%-51.9%
Free cash flow yield-10.2%-10.5%-66.5%-20.0%-32.1%-7.0%-89.6%-40.5%
Earnings yield-11.4%-14.4%-75.6%-28.1%-41.5%-16.1%-175.1%-54.2%
Enterprise value€80.6M€57.3M€23.3M€25.4M€24.1M€54.2M€7.9M€7.4M
Net debt / EBITDA-1.04×-2.15×-0.32×0.67×-1.07×-0.72×-1.01×-1.38×
Cash conversion cycle (days)446-46-26-96-71-8-57,812