Attica Holdings S.A. (ATTICA.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

+172.2%

€3.84

vs €1.41 price

Levered DCF

€18.63

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

0.61

Distress zone

Rating

B-

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	-13.29×	30.42×	7.11×	29.37×	-17.35×	-4.13×	13.62×	14.2×
P/B	1.03×	1.06×	0.87×	1.4×	0.63×	0.54×	0.65×	0.59×
P/S	0.6×	0.71×	0.74×	0.94×	0.66×	0.71×	0.7×	0.66×
EV / EBITDA	11.04×	10.1×	6.49×	10.36×	10.95×	37.22×	7.39×	6.37×
Gross margin	11.7%	16.5%	24.4%	12.2%	10.7%	10.7%	22.0%	20.4%
Operating margin	-0.8%	2.2%	11.8%	0.2%	-4.3%	-4.4%	8.4%	3.8%
Net margin	-4.5%	2.3%	10.4%	3.2%	-3.8%	-17.0%	5.1%	4.7%
Current ratio	0.86×	1.46×	0.78×	1.58×	1.03×	1.59×	2.06×	0.85×
Debt / equity	1.39×	1.23×	1.19×	1.38×	1.33×	1.14×	0.95×	0.85×
Interest coverage	-0.2×	0.55×	2.4×	0.06×	-0.91×	-0.85×	2.2×	0.53×
Dividend yield	3.8%	3.2%	0.0%	2.2%	5.0%	5.2%	0.0%	0.0%
Payout ratio	-50.5%	97.3%	0.0%	63.3%	-86.1%	-21.8%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-7.6%	3.5%	12.4%	4.8%	-3.6%	-13.0%	4.8%	4.2%
Return on invested capital	-0.6%	1.4%	6.3%	0.1%	-1.7%	-1.6%	4.0%	1.8%
Return on assets	-2.7%	1.4%	4.9%	1.7%	-1.4%	-5.5%	2.2%	2.0%
Free cash flow yield	7.9%	-16.8%	3.0%	4.2%	-8.5%	-16.2%	-3.3%	27.4%
Earnings yield	-7.4%	3.3%	14.1%	3.4%	-5.8%	-24.1%	7.3%	7.0%
Enterprise value	€967.9M	€1.1B	€918.6M	€906.7M	€613M	€551M	€585.6M	€528.6M
Net debt / EBITDA	5.88×	5.09×	3.43×	4.64×	6.86×	23.37×	3.82×	3.44×
Cash conversion cycle (days)	25	29	24	50	74	55	32	7