Barco N.V. (BAR.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

+387.3%

€31.28

vs €6.42 price

Levered DCF

€29.27

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.57

Grey 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	13.93×	14.76×	18.54×	27.48×	191.98×	-357.83×	28.71×	16.43×
P/B	1.4×	1.17×	1.88×	2.74×	2.46×	2.39×	3.93×	1.94×
P/S	1.04×	0.99×	1.42×	1.96×	2.12×	2.04×	2.54×	1.2×
EV / EBITDA	6.88×	5.64×	9.2×	14.19×	26.09×	36.1×	15.12×	8.39×
Gross margin	40.1%	40.7%	41.8%	39.0%	35.7%	36.9%	39.7%	40.1%
Operating margin	7.5%	6.4%	9.3%	8.5%	1.9%	1.9%	10.7%	8.7%
Net margin	7.4%	6.7%	7.6%	7.1%	1.1%	-0.6%	8.8%	7.3%
Current ratio	2.6×	2.6×	3.11×	2.83×	2.85×	2.97×	2.47×	2.15×
Debt / equity	0.1×	0.13×	0.06×	0.06×	0.06×	0.07×	0.07×	0.06×
Interest coverage	17.03×	13.86×	35.19×	29.41×	5.95×	4.98×	44.28×	38.95×
Dividend yield	4.4%	4.6%	2.7%	1.0%	1.2%	2.1%	1.0%	2.1%
Payout ratio	61.8%	67.5%	49.6%	28.0%	231.5%	-759.3%	30.1%	34.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.0%	7.9%	10.1%	9.9%	1.3%	-0.7%	13.6%	11.8%
Return on invested capital	6.9%	5.1%	8.7%	8.4%	1.5%	1.7%	11.0%	10.8%
Return on assets	6.5%	5.1%	6.9%	6.6%	0.8%	-0.4%	8.1%	7.2%
Free cash flow yield	6.1%	10.8%	2.7%	0.3%	4.7%	-2.1%	3.2%	5.2%
Earnings yield	7.1%	6.8%	5.4%	3.6%	0.5%	-0.3%	3.5%	6.1%
Enterprise value	€815.3M	€673.9M	€1.3B	€1.8B	€1.4B	€1.4B	€2.4B	€1B
Net debt / EBITDA	-1.57×	-2.17×	-1.73×	-2.05×	-5.73×	-4.97×	-1.91×	-1.76×
Cash conversion cycle (days)	140	153	161	142	121	148	100	80