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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
+452.2%
€23.58
vs €4.27 price
Levered DCF
€3.47
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
2.38
Grey zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E8.93×47.97×1.28×4.37×-12.64×28.06×-75.59×-4.68×
P/B0.97×0.7×0.6×0.72×3.51×6.9×4.8×4.89×
P/S0.38×0.28×0.24×0.11×0.27×0.88×0.79×0.55×
EV / EBITDA1.46×-1.94×-1.05×-3.07×-12,287.52×12.6×45.9×16,264.55×
Gross margin14.4%17.8%31.6%11.7%3.1%8.8%7.1%-0.0%
Operating margin2.6%5.9%22.0%5.8%-0.0%3.9%1.5%-0.0%
Net margin4.3%0.6%19.0%2.5%-2.2%3.1%-1.0%-11.5%
Current ratio2.27×2.63×2.9×1.64×1.22×1.11×1.19×1.15×
Debt / equity0.23×0.37×0.39×0.57×1.06×0.03×0.06×0.42×
Interest coverage20.73×9.06×114.93×776.26×0×0×0×0×
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 equity11.0%1.5%46.9%16.4%-27.9%24.7%-6.3%-103.2%
Return on invested capital4.8%1.5%31.7%21.5%0.2%27.7%8.6%-0.1%
Return on assets5.2%0.6%22.7%4.3%-3.3%3.7%-1.6%-16.6%
Free cash flow yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Earnings yield11.3%2.1%78.3%22.8%-8.0%3.6%-1.3%-21.1%
Enterprise value€11.3M-€8.5M-€22.9M-€31.3M€13.4M€34.3M€16.1M€5.5M
Net debt / EBITDA-2.68×-6.57×-2.03×-4.78×14,174.49×-8.08×-31.43×-17,227.37×
Cash conversion cycle (days)2632-31-12227-2-11-80,152