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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
-3783.1%
-€0.03
vs €0.00 price
Levered DCF
-€0.06
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
-14.66
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-0.04×-0.4×8.03×5.13×66.67×72.89×-18.47×265.33×
P/B-0.09×0.06×0.57×2.74×10.15×15.33×0×11.58×
P/S0.26×0.03×0.3×1.01×1.26×1.86×2.19×1.55×
EV / EBITDA-2.21×27.16×9.35×51.97×20.66×31.89×100.9×39.75×
Gross margin-69.2%7.1%-2.9%5.3%12.1%12.0%-3.1%15.9%
Operating margin-87.2%-1.6%9.9%-12.3%6.6%6.1%-3.0%3.1%
Net margin-668.9%-7.9%3.8%19.9%1.9%2.5%-11.8%0.6%
Current ratio0.35×1.62×2.46×4.02×3.84×2.41×0×1.33×
Debt / equity-1.05×1.27×1.58×2.29×3.86×6.33×0×1.74×
Interest coverage-1.39×-0.3×2.38×-3.19×2.04×2.11×-1.14×2.5×
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 equity225.6%-16.0%7.1%53.9%15.2%20.8%0.0%4.4%
Return on invested capital-558.2%-1.4%5.9%-10.1%9.5%6.8%-42.0%6.1%
Return on assets-375.5%-5.2%1.7%13.3%2.4%1.8%0.0%0.9%
Free cash flow yield-201.0%-1218.6%-32.3%-25.2%1.3%-15.6%0.0%0.0%
Earnings yield-2597.8%-254.3%12.6%19.6%1.5%1.4%-5.4%0.4%
Enterprise value€32.2M€34.5M€32M€55.8M€104.7M€116.5M€88.1M€97.1M
Net debt / EBITDA-2.04×25.86×6.86×22.79×5.61×7.78×0×3.7×
Cash conversion cycle (days)220356590454209336227-68