Bending Spoons S.p.A. (BSP) 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

+47.2%

$67.20

vs $45.65 price

Levered DCF

$80.33

After debt service

Piotroski score

—

Altman Z-score

—

Rating

B-

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023
P/E	-174,865.6×	253.13×	0×
P/B	23.9×	35.61×	0×
P/S	18.2×	33.76×	0×
EV / EBITDA	62.86×	102.75×	0.92×
Gross margin	65.6%	63.9%	61.1%
Operating margin	21.3%	19.0%	21.8%
Net margin	-0.0%	13.3%	41.5%
Current ratio	0.82×	1.09×	1.33×
Debt / equity	2.68×	1.36×	1.15×
Interest coverage	1.95×	3.91×	4.91×
Dividend yield	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023
Return on equity	-0.0%	14.1%	47.7%
Return on invested capital	-0.0%	6.8%	11.2%
Return on assets	-0.0%	4.7%	17.2%
Free cash flow yield	1.2%	0.9%	7312.7%
Earnings yield	-0.0%	0.4%	21333.3%
Enterprise value	$25.8B	$23.3B	$101M
Net debt / EBITDA	4.97×	2.77×	0.91×
Cash conversion cycle (days)	23	24	31