Alumil Aluminium Industry S.A. (ALMY.AT) 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

-157.8%

-€3.29

vs €5.69 price

Levered DCF

€3.00

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.97

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	9.74×	9.91×	53.48×	2.77×	4.16×	6.07×	7.73×	26.62×
P/B	1.22×	1.21×	1.54×	0.99×	1.59×	1.7×	2.18×	0.3×
P/S	0.34×	0.32×	0.25×	0.16×	0.21×	0.18×	0.11×	0.02×
EV / EBITDA	5.45×	5.82×	7.88×	3.78×	4.84×	6.69×	7.85×	10×
Gross margin	24.8%	26.4%	22.5%	26.1%	28.3%	25.0%	24.1%	20.8%
Operating margin	8.0%	7.6%	4.6%	11.1%	10.9%	5.4%	5.1%	3.2%
Net margin	3.5%	3.3%	0.5%	5.7%	5.0%	3.0%	1.4%	0.1%
Current ratio	1.61×	1.66×	1.8×	2.1×	2.04×	2.47×	0.65×	0.67×
Debt / equity	1.19×	1.35×	2.44×	2.63×	4.23×	7.05×	15.01×	13.31×
Interest coverage	3.51×	2.55×	1.43×	4.83×	5.37×	2.21×	1.54×	1.07×
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	12.7%	12.2%	2.9%	35.9%	38.0%	28.6%	27.9%	1.1%
Return on invested capital	9.3%	8.3%	4.2%	12.4%	9.3%	4.4%	3.6%	1.2%
Return on assets	3.3%	3.1%	0.5%	6.4%	4.7%	2.4%	1.2%	0.1%
Free cash flow yield	3.7%	1.6%	6.7%	17.8%	2.3%	14.3%	1.8%	72.8%
Earnings yield	10.3%	10.1%	1.9%	36.2%	23.9%	16.8%	12.8%	3.7%
Enterprise value	€314.2M	€295.3M	€247.5M	€214.1M	€223.6M	€202.7M	€184.2M	€162.6M
Net debt / EBITDA	2.49×	2.91×	4.63×	2.65×	3.41×	5.26×	6.77×	9.76×
Cash conversion cycle (days)	114	114	121	145	158	159	148	137