Bumech Defense Partners S.A. (BDF.WA) 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

+10.0%

PLN 0.23

vs PLN 0.21 price

Levered DCF

-PLN 0.09

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

784.42

Safe zone

Rating

D+

Overall 1 / 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	-12.29×	0×	-5.4×	2.43×	5.24×	-4.83×	-1.09×	-1.95×
P/B	4.61×	0×	5.25×	1.82×	0.64×	0.3×	0.34×	0.54×
P/S	436.99×	0×	20.25×	2.13×	2.79×	0×	8,977.92×	2.53×
EV / EBITDA	-9.5×	0×	-4.64×	1.69×	3.83×	-6.08×	-0.77×	-1.14×
Gross margin	100.0%	0.0%	-44.0%	90.9%	73.7%	0.0%	-950801.6%	-7.7%
Operating margin	-3577.9%	0.0%	-498.8%	101.3%	58.2%	0.0%	-1000897.6%	-169.2%
Net margin	-3554.9%	0.0%	-384.5%	87.0%	52.4%	0.0%	-829327.4%	-130.6%
Current ratio	26.41×	5.56×	19.88×	134.9×	170.68×	8.77×	8.15×	20.95×
Debt / equity	0×	0×	0×	0×	0×	0.01×	0.02×	0×
Interest coverage	0×	0×	0×	1,351.68×	1,033.53×	-110.72×	-334.71×	-6,695.51×
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	-37.5%	0.0%	-99.8%	74.5%	12.0%	-5.7%	-31.3%	-27.7%
Return on invested capital	-37.4%	0.0%	-104.0%	68.8%	10.4%	-6.0%	-27.6%	-25.9%
Return on assets	-35.7%	0.0%	-93.5%	70.3%	10.9%	-5.1%	-27.4%	-24.2%
Free cash flow yield	-8.0%	0.0%	-11.4%	-16.9%	-23.7%	-5.0%	-4.7%	-18.4%
Earnings yield	-8.1%	0.0%	-19.0%	40.9%	18.8%	-19.0%	-92.4%	-51.6%
Enterprise value	PLN 6.4M	-PLN 7.4K	PLN 6.5M	PLN 11.2M	PLN 15M	PLN 8.5M	PLN 9.5M	PLN 17.5M
Net debt / EBITDA	2.79×	0×	1.12×	-0.35×	-0.47×	0.39×	0.13×	0.37×
Cash conversion cycle (days)	0	0	-4	-9	-3	-0	7,889	27