Biohit Oyj (BIOBV.HE) 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

+359.3%

€10.20

vs €2.22 price

Levered DCF

€0.55

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

6.72

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	20.5×	13.47×	15.75×	39.25×	-18.41×	-11.27×	-35.59×	-21.64×
P/B	3.76×	2.82×	3.03×	3.17×	3.78×	4.29×	3.46×	2.84×
P/S	3.57×	2.43×	2.18×	2.16×	2.95×	5.24×	5.02×	4.55×
EV / EBITDA	14.64×	9.02×	9.75×	13.95×	38.57×	-29.75×	62.51×	-233.17×
Gross margin	38.9%	65.0%	64.7%	64.9%	63.2%	55.6%	66.3%	64.9%
Operating margin	20.4%	18.2%	14.0%	10.3%	-15.8%	-44.6%	-13.7%	-19.8%
Net margin	17.4%	18.2%	14.2%	5.5%	-16.0%	-46.5%	-14.1%	-21.6%
Current ratio	2.53×	3.67×	3.87×	3.46×	4.18×	4.28×	5.56×	7.79×
Debt / equity	0.11×	0.05×	0.07×	0.13×	0.03×	0.11×	0.02×	0×
Interest coverage	32×	8.67×	13.93×	3.91×	-164.44×	-226.79×	-114.5×	-655×
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	18.4%	21.1%	19.6%	8.1%	-20.6%	-38.1%	-9.7%	-13.5%
Return on invested capital	18.3%	17.7%	15.2%	9.3%	-19.7%	-32.9%	-9.0%	-12.0%
Return on assets	13.8%	16.8%	14.3%	5.5%	-15.6%	-30.7%	-8.2%	-12.0%
Free cash flow yield	-2.3%	0.6%	2.3%	7.6%	-1.7%	-0.1%	0.1%	-0.2%
Earnings yield	4.9%	7.5%	6.5%	2.5%	-5.4%	-8.9%	-2.8%	-4.7%
Enterprise value	€54.2M	€31.6M	€26.2M	€22.4M	€26.7M	€37.2M	€49.4M	€43.8M
Net debt / EBITDA	-0.52×	-0.88×	-0.86×	-0.73×	-1.27×	0.07×	-1.31×	7×
Cash conversion cycle (days)	76	104	136	115	124	101	118	107