Colonial SFL SOCIMI S.A. (COL.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

-67.3%

€1.69

vs €5.18 price

Levered DCF

€11.48

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.73

Distress zone

Rating

Overall 4 / 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	9.77×	9.77×	-3.39×	400.67×	8.97×	1,708.51×	6.97×	6.96×
P/B	0.57×	0.53×	0.7×	0.52×	0.71×	0.75×	1.04×	0.76×
P/S	7.94×	5.95×	8.93×	8.83×	13.43×	11.75×	16.27×	10.48×
EV / EBITDA	17.76×	15.87×	-7.52×	66.56×	15×	32.45×	54.08×	64.14×
Gross margin	82.0%	81.6%	87.8%	84.9%	83.9%	84.7%	100.0%	100.0%
Operating margin	75.0%	86.8%	-289.0%	35.5%	212.9%	75.2%	313.4%	79.1%
Net margin	81.3%	61.2%	-263.1%	2.2%	149.6%	0.7%	233.2%	150.7%
Current ratio	0.28×	0.48×	1.03×	1.11×	0.51×	0×	0×	0×
Debt / equity	0.87×	0.88×	1.07×	0.88×	0.82×	0.9×	0.87×	0.99×
Interest coverage	3.2×	4.1×	-11.19×	1.68×	24.94×	0×	0×	10.34×
Dividend yield	7.1%	6.0%	4.1%	5.3%	3.3%	2.5%	1.8%	2.1%
Payout ratio	69.8%	58.6%	-14.1%	2111.5%	29.3%	4254.3%	12.3%	14.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.9%	5.4%	-20.6%	0.1%	7.9%	0.0%	14.9%	10.9%
Return on invested capital	2.6%	3.6%	-9.3%	1.0%	5.4%	46.8%	174.3%	2.3%
Return on assets	2.8%	2.5%	-8.6%	0.1%	3.7%	0.0%	6.6%	4.6%
Free cash flow yield	5.4%	12.1%	7.4%	7.8%	6.2%	2.0%	3.9%	0.8%
Earnings yield	10.2%	10.3%	-29.5%	0.2%	11.1%	0.1%	14.3%	14.4%
Enterprise value	€8.3B	€7.4B	€8.3B	€8.5B	€9B	€8.7B	€10.4B	€8.3B
Net debt / EBITDA	10.56×	9.5×	-4.39×	41.45×	7.89×	17.24×	24.12×	36.08×
Cash conversion cycle (days)	-412	-318	403	321	162	50	130	32