Ease2pay N.V. (EAS2P.AS) 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

-615.2%

-€2.83

vs €0.55 price

Levered DCF

-€4.82

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

-1.3

Distress zone

Rating

C-

Overall 1 / 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	37.3×	-12.52×	-9.55×	-1.33×	-37.25×	-12.81×	-12×	-15.35×
P/B	1.57×	1.54×	2.06×	4.32×	32.57×	20.54×	8.46×	6.13×
P/S	2.75×	3.48×	5.25×	10.51×	85.02×	48.08×	57.1×	111.12×
EV / EBITDA	4.34×	160.44×	-19.79×	-1.26×	-52.14×	-18.53×	-13.88×	-22.14×
Gross margin	12.9%	60.9%	46.2%	25.1%	23.7%	-14.7%	-37.6%	-141.0%
Operating margin	-2.2%	-31.5%	-56.4%	-781.3%	-225.4%	-363.5%	-514.6%	-589.7%
Net margin	7.4%	-27.8%	-54.9%	-792.9%	-228.2%	-375.6%	-516.3%	-747.9%
Current ratio	2.13×	2.64×	2.12×	2.45×	0.29×	0.29×	0.84×	1.83×
Debt / equity	0×	0×	0×	0×	0.55×	1.47×	0.23×	0×
Interest coverage	0×	0×	0×	-1,148.83×	-79.8×	-29.83×	-305.33×	-5.9×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	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	4.2%	-12.3%	-21.5%	-325.8%	-87.4%	-160.5%	-76.5%	-41.3%
Return on invested capital	10.8%	-13.9%	-20.7%	-300.2%	-55.7%	-62.9%	-61.8%	-32.5%
Return on assets	2.9%	-9.9%	-15.3%	-243.5%	-36.9%	-42.7%	-48.5%	-33.4%
Free cash flow yield	10.0%	0.0%	-5.0%	-7.6%	-1.5%	-3.9%	-8.4%	-5.4%
Earnings yield	2.7%	-8.0%	-10.5%	-75.5%	-2.7%	-7.8%	-9.0%	-6.7%
Enterprise value	€4.3M	€7.4M	€11.5M	€32.2M	€30.6M	€9.8M	€10.1M	€12.4M
Net debt / EBITDA	-6.45×	-58.09×	4.61×	0.13×	-0.86×	-0.62×	0.04×	1.03×
Cash conversion cycle (days)	37	188	167	127	234	-132	-460	-380