Care Property Invest S.A. (CPINV.BR) 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

+79.6%

€22.23

vs €12.38 price

Levered DCF

€14.47

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.82

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	7.51×	16.31×	-89.13×	4.93×	11.21×	31.46×	22.27×	17.03×
P/B	0.63×	0.67×	0.83×	0.78×	1.4×	1.68×	2.26×	1.69×
P/S	6.01×	5.97×	7.88×	7.94×	15.32×	16.91×	20.4×	15.46×
EV / EBITDA	13.58×	16.36×	20.15×	12.86×	16.7×	41.85×	28.32×	23.28×
Gross margin	96.8%	98.3%	98.5%	98.6%	99.0%	98.5%	95.7%	96.7%
Operating margin	94.8%	84.5%	40.1%	143.2%	131.6%	89.6%	122.2%	110.1%
Net margin	80.1%	36.4%	-8.6%	160.9%	136.7%	54.0%	91.4%	91.1%
Current ratio	1.77×	0.06×	0.05×	0.05×	0.11×	0.07×	0.05×	0.09×
Debt / equity	0.94×	0.91×	0.85×	1.04×	0.89×	0.9×	1.04×	0.92×
Interest coverage	3.67×	2.49×	1.43×	10.1×	11.35×	0×	8.71×	6.81×
Dividend yield	8.3%	8.8%	5.3%	5.2%	2.8%	2.5%	2.3%	2.3%
Payout ratio	62.5%	143.7%	-481.8%	25.5%	31.0%	79.1%	51.6%	39.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.4%	4.1%	-0.9%	15.7%	12.4%	5.4%	10.1%	10.0%
Return on invested capital	4.8%	4.7%	1.6%	6.8%	6.1%	4.5%	6.4%	5.9%
Return on assets	4.2%	2.1%	-0.5%	7.5%	6.3%	2.7%	4.7%	4.9%
Free cash flow yield	8.8%	13.3%	11.2%	8.9%	3.7%	5.2%	2.9%	3.4%
Earnings yield	13.3%	6.1%	-1.1%	20.3%	8.9%	3.2%	4.5%	5.9%
Enterprise value	€1.1B	€988.1M	€1.1B	€1B	€1.1B	€950.1M	€873.8M	€599.6M
Net debt / EBITDA	8.12×	9.37×	10.22×	7.35×	6.49×	14.48×	8.83×	8.13×
Cash conversion cycle (days)	-249	-384	-2,141	-955	-52,238	-3,583	-535	-84,841