CLERHP Estructuras, S.A. (CLR.MC) 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

-121.3%

-€4.19

vs €19.70 price

Levered DCF

-€6.11

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

3.15

Safe zone

Rating

D+

Overall 1 / 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	-108.72×	43.36×	73.17×	27.86×	-2.96×	-11×	15.51×	15.24×
P/B	6.69×	6.86×	9.45×	7.7×	-7.06×	5.85×	4.09×	4.7×
P/S	7.47×	3.96×	2.99×	2×	2.27×	1.25×	1.1×	1.18×
EV / EBITDA	16.06×	16.19×	20.34×	10.16×	-7.62×	20.05×	9.29×	7.9×
Gross margin	66.0%	81.8%	69.8%	79.6%	76.9%	84.7%	71.6%	71.2%
Operating margin	39.9%	23.3%	26.2%	-21.7%	-57.3%	6.1%	14.6%	15.5%
Net margin	-6.9%	17.0%	4.1%	7.2%	-76.3%	-11.2%	7.1%	7.7%
Current ratio	1.24×	1.29×	1.14×	0.97×	0.59×	1.64×	1.84×	1.14×
Debt / equity	0.66×	1.37×	1.66×	2.64×	-5.14×	4.51×	1.08×	1.64×
Interest coverage	1.92×	2.7×	6.06×	-2.67×	-3.54×	1.23×	5.38×	12.61×
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	-6.2%	29.6%	12.9%	27.7%	237.3%	-52.4%	26.3%	30.8%
Return on invested capital	-1679.9%	11.4%	21.7%	-18.3%	-29.3%	4.2%	17.7%	13.8%
Return on assets	-1.0%	4.4%	2.0%	3.8%	-25.6%	-6.2%	7.7%	8.0%
Free cash flow yield	0.2%	-6.5%	-3.8%	-20.4%	-15.6%	-36.5%	-18.2%	-5.5%
Earnings yield	-0.9%	4.3%	1.4%	3.6%	-33.6%	-9.0%	6.4%	6.6%
Enterprise value	€108.5M	€81.8M	€67.1M	€36M	€23.3M	€22.4M	€18.5M	€14.6M
Net debt / EBITDA	0.41×	2.47×	2.7×	2.2×	-3.17×	8.24×	1.69×	1.22×
Cash conversion cycle (days)	5,574	1,912	438	292	551	570	153	126