Banimmo S.A. (BANI.BR) 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

-349.8%

-€7.45

vs €2.98 price

Levered DCF

-€17.84

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.35

Distress zone

Rating

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	40.57×	13.62×	-6.26×	13.4×	1.69×	-18.13×	-14.33×	-6.38×
P/B	0.49×	0.47×	0.65×	0.62×	0.61×	0.69×	0.84×	0.81×
P/S	4.42×	4.41×	7.43×	9.11×	0.52×	9.19×	8.64×	0.68×
EV / EBITDA	34.92×	15.81×	-54.82×	1,972.62×	3.02×	46.78×	-547.91×	4,909.64×
Gross margin	78.0%	88.9%	80.8%	71.4%	18.8%	36.8%	36.2%	12.0%
Operating margin	49.1%	93.5%	-65.9%	30.9%	39.4%	58.9%	-15.5%	-1.8%
Net margin	10.9%	32.0%	-117.8%	67.1%	30.5%	-49.3%	-60.9%	-10.8%
Current ratio	0.09×	1.06×	4.83×	128.04×	4.78×	134.93×	0.37×	0.22×
Debt / equity	1.62×	1.24×	1.14×	0.92×	1.36×	1.95×	1.61×	1.25×
Interest coverage	1.07×	1.78×	-1.1×	0.52×	8.23×	0×	-0.23×	-0.24×
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	1.2%	3.4%	-10.4%	4.6%	36.1%	-3.7%	-5.9%	-12.8%
Return on invested capital	1.5%	4.3%	-2.6%	0.8%	19.5%	2.8%	-1.4%	-6.8%
Return on assets	0.4%	1.4%	-4.5%	2.2%	12.7%	-1.2%	-2.1%	-4.8%
Free cash flow yield	-66.3%	-34.5%	-9.8%	-61.8%	156.7%	-27.8%	-18.8%	47.8%
Earnings yield	2.5%	7.3%	-15.9%	7.4%	59.1%	-5.4%	-7.0%	-15.8%
Enterprise value	€142.3M	€113.2M	€100.9M	€90.7M	€64.5M	€97.6M	€89.9M	€93.3M
Net debt / EBITDA	26.55×	11.32×	-31.47×	989.48×	1.04×	32.11×	-311.94×	2,831.37×
Cash conversion cycle (days)	-2,927	15,208	7,101	6,657	118	-415	6,272	303