Consti Oyj (CONSTI.HE) 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

+285.8%

€37.97

vs €9.84 price

Levered DCF

€44.71

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.71

Safe 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	12.38×	11.26×	10.04×	10.14×	25.74×	14.36×	21.33×	-18.87×
P/B	1.86×	1.85×	2.21×	2.37×	2.91×	2.3×	1.68×	1.85×
P/S	0.25×	0.25×	0.28×	0.28×	0.32×	0.28×	0.16×	0.14×
EV / EBITDA	6.03×	5.98×	5.52×	6.15×	12.05×	7.41×	8.34×	-59.22×
Gross margin	7.0%	35.2%	29.4%	29.8%	28.5%	30.2%	27.0%	26.2%
Operating margin	2.8%	3.1%	3.9%	3.7%	2.0%	3.0%	1.1%	-0.9%
Net margin	2.0%	2.2%	2.8%	2.8%	1.3%	2.1%	0.9%	-0.7%
Current ratio	0.97×	0.96×	0.95×	0.93×	0.88×	0.96×	0.89×	0.83×
Debt / equity	0.31×	0.39×	0.49×	0.68×	1.01×	0.86×	0.99×	0.97×
Interest coverage	9.4×	7.03×	9.26×	11.27×	4.52×	8.19×	2.72×	-3.71×
Dividend yield	6.6%	6.8%	5.1%	4.1%	3.3%	1.6%	0.0%	0.0%
Payout ratio	81.2%	77.3%	51.5%	41.0%	82.5%	21.7%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	15.1%	16.4%	21.9%	23.5%	11.6%	16.9%	9.1%	-10.0%
Return on invested capital	12.6%	13.2%	16.0%	15.3%	7.2%	10.3%	4.5%	-4.8%
Return on assets	5.8%	6.1%	7.4%	6.9%	3.1%	4.4%	2.3%	-2.1%
Free cash flow yield	16.7%	4.3%	11.5%	18.6%	3.5%	20.3%	2.3%	-18.5%
Earnings yield	8.1%	8.9%	9.9%	9.9%	4.0%	7.4%	5.4%	-5.4%
Enterprise value	€79.3M	€83.4M	€90M	€89.8M	€107.2M	€81.8M	€68M	€63M
Net debt / EBITDA	-0.38×	0.19×	-0.06×	0.27×	1.6×	0.43×	2.32×	-18.42×
Cash conversion cycle (days)	-5	14	14	10	17	-37	30	20