Donegal Investment Group plc (DQ7A.IR) 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

-66.1%

€3.39

vs €10.00 price

Levered DCF

€2.96

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

9.88

Safe zone

Rating

B+

Overall 3 / 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	211.94×	13.87×	13.64×	-258.73×	9.31×	24.04×	11.19×	3.89×
P/B	1.88×	1.39×	1.68×	2.16×	1.74×	2.87×	1.41×	2.68×
P/S	0×	0.76×	0.92×	1.2×	1.38×	1.05×	1.04×	1.01×
EV / EBITDA	-15.78×	8.7×	10.92×	61.07×	11.63×	14.31×	6.95×	16.25×
Gross margin	0.0%	31.0%	32.9%	33.3%	35.4%	35.4%	36.2%	27.1%
Operating margin	0.0%	5.7%	5.9%	-0.8%	5.9%	5.9%	6.1%	5.0%
Net margin	0.0%	5.5%	6.8%	52.8%	14.9%	4.4%	9.3%	25.9%
Current ratio	3.01×	4.57×	4.49×	2.09×	2.8×	1.25×	2.9×	2.59×
Debt / equity	0×	0.05×	0.05×	0.35×	0.08×	0.09×	0.13×	0.24×
Interest coverage	-171.55×	30.16×	15.96×	-2.48×	34.31×	264.4×	22.8×	32.75×
Dividend yield	1.2%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	257.5%	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	0.9%	10.0%	12.4%	95.3%	18.7%	11.9%	12.6%	68.9%
Return on invested capital	-15.3%	8.1%	9.9%	-1.1%	6.5%	11.4%	7.1%	9.8%
Return on assets	0.6%	8.2%	10.3%	60.8%	12.3%	5.4%	8.8%	40.3%
Free cash flow yield	0.3%	10.9%	-0.4%	-3.4%	8.7%	2.7%	7.0%	1.3%
Earnings yield	0.5%	7.2%	7.4%	44.0%	10.8%	4.1%	9.0%	25.7%
Enterprise value	€20.2M	€23.4M	€21.3M	€27.3M	€32.4M	€34M	€25.9M	€76.7M
Net debt / EBITDA	3.09×	-0.62×	-3.16×	-6.58×	-1.32×	-5.56×	-5.71×	-0.02×
Cash conversion cycle (days)	0	61	75	57	59	33	22	67