aconnic AG (CFC.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

-212.5%

-€0.53

vs €0.47 price

Levered DCF

-€0.31

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-1.58

Distress zone

Rating

—

Ratios by fiscal year

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

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
P/E	-1.76×	-22.31×	-10.49×	604.17×	-4.3×	5.35×	2.8×	-4.21×
P/B	100.7×	18.07×	4.83×	3.06×	4.52×	3.17×	2.41×	1.1×
P/S	0.31×	0.36×	0.25×	0.26×	0.41×	0.38×	0.29×	0.16×
EV / EBITDA	-4.43×	3.4×	2.27×	1.41×	15.31×	2.19×	2.08×	5.22×
Gross margin	40.6%	19.7%	45.4%	23.7%	60.4%	58.1%	60.7%	47.9%
Operating margin	-14.3%	18.3%	3.7%	6.3%	5.9%	8.0%	6.3%	-1.9%
Net margin	-17.7%	-1.6%	-2.4%	0.0%	-9.8%	7.1%	10.4%	-3.8%
Current ratio	0.55×	1.79×	3.76×	3.59×	2.07×	3.98×	1.62×	1.6×
Debt / equity	6.33×	0.36×	0.25×	0.19×	0.59×	0.06×	0.37×	0.36×
Interest coverage	-1.67×	3.64×	0.8×	1.32×	0.97×	1.99×	3.21×	-1.73×
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	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Return on equity	-5765.1%	-81.0%	-46.0%	0.5%	-107.4%	59.2%	84.8%	-26.5%
Return on invested capital	-39.5%	35.0%	4.2%	0.1%	3.2%	10.1%	10.7%	-3.9%
Return on assets	-16.9%	-2.2%	-2.4%	0.0%	-6.1%	7.9%	13.0%	-5.7%
Free cash flow yield	12.0%	15.8%	-0.6%	3.7%	-54.4%	-34.7%	-1.7%	19.3%
Earnings yield	-57.3%	-4.5%	-9.5%	0.2%	-23.8%	18.7%	35.2%	-24.1%
Enterprise value	€14.8M	€22.2M	€10.3M	€8.2M	€9M	€14M	€12.7M	€7.4M
Net debt / EBITDA	0.03×	-0.57×	-0.41×	-0.49×	-5.79×	-0.58×	0.19×	-0.05×
Cash conversion cycle (days)	105	89	129	98	191	71	15	5