Miliboo S.A. (ALMLB.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

-113.6%

-€0.23

vs €1.69 price

Levered DCF

-€3.02

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.07

Grey zone

Rating

C+

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	FY2018
P/E	38.81×	-34.76×	5.54×	-10.59×	584.21×	18.42×	-4.56×	-14.1×
P/B	1.66×	1.37×	1.97×	3.64×	8.81×	22.4×	-11.1×	7.9×
P/S	0.26×	0.23×	0.31×	0.38×	0.46×	0.84×	0.27×	0.58×
EV / EBITDA	9.37×	43.33×	3.55×	48.72×	23.98×	12.34×	-7.95×	-23.37×
Gross margin	9.5%	8.8%	15.9%	54.4%	57.4%	43.8%	40.3%	13.3%
Operating margin	1.4%	-1.3%	6.5%	-3.3%	1.4%	6.2%	-5.3%	-6.8%
Net margin	0.7%	-0.7%	5.5%	-3.6%	0.1%	4.5%	-6.0%	-4.1%
Current ratio	1.83×	1.57×	1.55×	1.47×	1.66×	1.84×	1.31×	1.27×
Debt / equity	0.47×	0.38×	0.6×	1.2×	5.29×	7.54×	-8.42×	1.87×
Interest coverage	1.02×	-7.23×	41.85×	-3.63×	1.26×	5.99×	-5×	-6.56×
Dividend yield	0.0%	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%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.3%	-3.9%	35.1%	-34.4%	1.5%	120.8%	246.3%	-54.8%
Return on invested capital	5.8%	-3.4%	23.3%	-14.0%	4.3%	17.6%	-26.3%	-36.7%
Return on assets	1.7%	-1.6%	12.7%	-8.3%	0.1%	7.5%	-14.3%	-7.4%
Free cash flow yield	-2.2%	-14.1%	8.2%	-6.9%	-25.6%	14.4%	-26.0%	-4.0%
Earnings yield	2.6%	-2.9%	17.8%	-9.5%	0.2%	5.4%	-22.2%	-6.9%
Enterprise value	€12.9M	€8.8M	€12M	-€35.7M	€20.4M	€33.2M	€11.1M	€14.5M
Net debt / EBITDA	1.19×	-0.47×	-0.4×	70.59×	2.9×	-0.44×	-2.18×	-1.76×
Cash conversion cycle (days)	93	42	48	80	99	16	49	14