Cliq Digital AG (CLIQ.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

+296.7%

€27.77

vs €7.00 price

Levered DCF

€42.60

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.25

Grey 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	-0.64×	-0.98×	4.05×	5.64×	9.01×	14.31×	8.06×	5.46×
P/B	0.13×	0.38×	1.25×	2.01×	2.7×	2.02×	0.4×	0.25×
P/S	0.06×	0.11×	0.4×	0.59×	1.07×	0.96×	0.28×	0.2×
EV / EBITDA	6.07×	-1.49×	2.17×	3.44×	5.84×	6.48×	4.44×	5.1×
Gross margin	-6.0%	18.8%	25.9%	27.1%	64.1%	62.9%	32.9%	32.6%
Operating margin	-9.5%	-10.2%	18.3%	19.0%	21.7%	18.8%	15.6%	12.2%
Net margin	-9.4%	-11.5%	9.8%	10.5%	11.9%	6.7%	3.5%	3.7%
Current ratio	4.02×	3.74×	2.5×	2.24×	1.35×	1.69×	1.75×	0.8×
Debt / equity	0.03×	0.05×	0.04×	0.14×	0.14×	0.11×	0.24×	0.2×
Interest coverage	-43.42×	-64.75×	295.04×	80.73×	76.69×	42.86×	25.95×	31.51×
Dividend yield	2.9%	0.9%	9.0%	4.4%	2.1%	2.1%	0.0%	0.0%
Payout ratio	-1.9%	-0.9%	36.6%	24.6%	18.6%	29.5%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-20.4%	-39.1%	30.9%	35.7%	29.9%	14.1%	4.9%	4.6%
Return on invested capital	-17.4%	-29.9%	34.5%	35.4%	31.5%	22.7%	16.5%	10.9%
Return on assets	-16.8%	-28.4%	20.6%	21.5%	18.5%	9.3%	3.2%	3.3%
Free cash flow yield	282.5%	12.8%	15.3%	8.7%	10.9%	13.7%	13.8%	32.2%
Earnings yield	-155.5%	-102.4%	24.7%	17.7%	11.1%	7.0%	12.3%	18.2%
Enterprise value	-€21M	€18.9M	€117.5M	€158.9M	€161.9M	€103.5M	€27.8M	€19.7M
Net debt / EBITDA	8.38×	0.65×	-0.21×	-0.11×	0.04×	0.05×	1.57×	2.04×
Cash conversion cycle (days)	37	33	55	52	17	37	30	20