Bijou Brigitte modische Accessoires AG (BIJ.DE) 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

+136.9%

€103.98

vs €43.90 price

Levered DCF

€93.33

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.67

Safe 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	13.15×	11.12×	12.81×	9.4×	9.82×	-5.69×	14.8×	12.5×
P/B	1.39×	1.12×	1.29×	1.32×	0.78×	0.9×	1.64×	1.15×
P/S	0.92×	0.78×	0.94×	1.07×	0.77×	0.86×	1.13×	0.84×
EV / EBITDA	4.01×	3.48×	3.91×	3.5×	2.25×	7.57×	3.89×	2.99×
Gross margin	38.1%	77.3%	76.7%	38.4%	23.7%	14.6%	34.5%	78.7%
Operating margin	12.2%	10.9%	12.2%	16.2%	11.3%	-14.6%	12.5%	10.1%
Net margin	7.0%	7.1%	7.3%	11.4%	7.9%	-15.1%	7.6%	6.7%
Current ratio	3.05×	3.19×	3.4×	3.48×	3.2×	3.01×	2.92×	6.94×
Debt / equity	0.59×	0.57×	0.52×	0.45×	0.51×	0.69×	0.71×	0×
Interest coverage	5.87×	5.18×	6.37×	10.96×	5.43×	-5.55×	6.99×	129.8×
Dividend yield	8.4%	10.3%	12.5%	0.0%	0.0%	0.0%	6.2%	8.8%
Payout ratio	110.8%	114.1%	159.9%	0.0%	0.0%	0.0%	91.9%	109.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.5%	10.1%	10.0%	14.0%	8.0%	-15.9%	11.1%	9.2%
Return on invested capital	7.1%	6.2%	7.2%	9.6%	5.9%	-7.5%	6.5%	9.4%
Return on assets	5.4%	5.7%	5.9%	8.1%	4.4%	-8.0%	5.4%	8.0%
Free cash flow yield	23.4%	23.0%	19.5%	21.5%	43.7%	6.0%	21.4%	7.3%
Earnings yield	7.6%	9.0%	7.8%	10.6%	10.2%	-17.6%	6.8%	8.0%
Enterprise value	€365.6M	€314.8M	€364.3M	€338.7M	€165.4M	€201.3M	€393.5M	€132.4M
Net debt / EBITDA	0.6×	0.58×	0.6×	0.11×	-0.02×	0.95×	0.17×	-3.1×
Cash conversion cycle (days)	119	333	339	126	117	118	85	268