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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
-77.4%
€0.04
vs €0.20 price
Levered DCF
€0.03
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
-221.13
Distress zone
Rating
A-
Overall 4 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E8.76×-5.09×-1.18×-0.28×-2.07×-5.38×-4.24×-5.09×
P/B2.99×-1.83×1.59×2.65×1.26×2.98×2.66×3.32×
P/S346.32×158.59×98.35×0×0×18,459.21×20,245.52×59.32×
EV / EBITDA-0.79×-7.95×-0.53×0.02×-0.5×-5×-3.26×-4.02×
Gross margin9195.2%494.1%32.4%0.0%0.0%100.0%100.0%100.0%
Operating margin-34200.0%-3365.1%-10389.2%0.0%0.0%-339740.0%-481316.7%-1225.4%
Net margin3952.4%-3131.2%-8282.4%0.0%0.0%-344080.0%-477200.0%-1201.5%
Current ratio1.92×2.29×3.79×1.42×2.48×1.67×3.59×5.36×
Debt / equity0×-1.09×0.17×0.06×-0.28×0.12×0.1×0.03×
Interest coverage-112.22×-52.6×-126.15×-149.61×-103.49×-57.2×-84.2×-615.65×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity34.1%36.1%-134.0%-948.2%-60.8%-55.5%-62.8%-67.3%
Return on invested capital366.4%-84.7%-76.7%-312.7%-39.4%-30.7%-36.4%-44.7%
Return on assets19.3%-58.7%-51.9%-207.6%-33.2%-26.0%-31.9%-39.7%
Free cash flow yield-94.9%-19.3%-160.5%-246.1%-49.3%-30.3%-23.7%-15.7%
Earnings yield11.4%-19.7%-84.2%-358.1%-48.3%-18.6%-23.6%-20.3%
Enterprise value€5.6M€42.8M€4.1M-€757.4K€12.7M€78.7M€86.5M€145.9M
Net debt / EBITDA0.24×-2.47×0.77×0.31×1.66×0.86×1.32×1.07×
Cash conversion cycle (days)13,8632,1881,450-1,205-1,58866,211164,372149