Brioschi Sviluppo Immobiliare S.p.A. (BRI.MI) 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

-33.9%

€0.04

vs €0.06 price

Levered DCF

-€0.26

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.47

Distress zone

Rating

Overall 3 / 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	9.59×	-48.67×	-27.91×	1.98×	-7.19×	-4.52×	-9.36×	2.57×
P/B	0.46×	0.43×	0.46×	0.54×	0.96×	0.67×	0.75×	0.43×
P/S	2.4×	2.5×	2.94×	0.36×	5.71×	4.01×	4.07×	0.83×
EV / EBITDA	8.25×	32.29×	90.78×	2.91×	-187.92×	-131.97×	40.53×	4.27×
Gross margin	26.2%	23.0%	58.3%	34.6%	28.6%	24.7%	40.0%	80.5%
Operating margin	15.5%	0.3%	-20.0%	25.6%	-45.0%	-57.7%	-22.3%	64.8%
Net margin	25.0%	-5.1%	-10.4%	18.1%	-79.2%	-88.7%	-43.4%	32.3%
Current ratio	1.12×	1.02×	1.53×	1.22×	3.3×	1.98×	2.73×	2.41×
Debt / equity	0.65×	0.73×	0.79×	0.82×	3.04×	2.15×	1.57×	1.39×
Interest coverage	0.67×	0×	0×	6.16×	-0.97×	0×	-0.57×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1.1%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-10.7%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.8%	-0.9%	-1.6%	27.4%	-13.3%	-14.9%	-8.0%	16.9%
Return on invested capital	1.5%	0.0%	-1.6%	16.0%	-1.5%	-2.8%	-1.4%	8.5%
Return on assets	2.5%	-0.4%	-0.7%	11.6%	-2.8%	-3.8%	-2.5%	5.8%
Free cash flow yield	-3.2%	1.3%	-36.4%	300.8%	-63.6%	-60.6%	-29.5%	-42.9%
Earnings yield	10.4%	-2.1%	-3.5%	50.6%	-13.9%	-22.1%	-10.6%	38.9%
Enterprise value	€109.6M	€119.5M	€124.3M	€130.8M	€288.6M	€225.8M	€206.7M	€166.1M
Net debt / EBITDA	4.42×	20.1×	55.84×	1.63×	-141.96×	-100.08×	26.96×	3.14×
Cash conversion cycle (days)	-404	-663	1,116	76	5,561	3,240	2,723	2,145