Ebro Foods, S.A. (EBRO.MC) 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

+126.8%

€40.32

vs €17.78 price

Levered DCF

€49.71

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.03

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	13.16×	11.76×	12.72×	18.56×	16.71×	17.7×	23.52×	18.96×
P/B	1.23×	1.05×	1.09×	1.04×	1.24×	1.51×	1.31×	1.24×
P/S	0.94×	0.78×	0.77×	0.76×	1.07×	1.2×	1.06×	1.01×
EV / EBITDA	6.86×	6.38×	6.86×	9.55×	9.8×	14.16×	13.37×	10.58×
Gross margin	31.2%	45.5%	43.1%	43.0%	44.8%	44.3%	45.8%	45.5%
Operating margin	10.1%	9.8%	9.0%	6.8%	8.4%	8.5%	7.6%	8.2%
Net margin	7.1%	6.6%	6.1%	4.1%	9.8%	7.9%	5.0%	5.4%
Current ratio	1.66×	1.46×	1.36×	1.92×	1.88×	1.13×	1.55×	1.55×
Debt / equity	0.23×	0.22×	0.29×	0.34×	0.4×	0.5×	0.48×	0.33×
Interest coverage	4.22×	4.8×	17.2×	23.16×	31.78×	17.68×	17.8×	18.43×
Dividend yield	3.7%	5.1%	4.1%	4.3%	7.2%	13.6%	3.3%	3.6%
Payout ratio	49.4%	59.7%	52.1%	79.1%	77.8%	206.5%	69.5%	67.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.3%	8.9%	8.6%	5.6%	11.4%	10.0%	6.3%	6.5%
Return on invested capital	6.9%	7.2%	6.5%	4.6%	4.5%	4.4%	3.7%	4.5%
Return on assets	5.4%	5.2%	4.8%	3.1%	6.1%	4.8%	3.2%	3.7%
Free cash flow yield	5.2%	5.7%	14.1%	4.6%	-3.9%	8.7%	3.4%	0.1%
Earnings yield	7.6%	8.5%	7.8%	5.4%	9.2%	6.6%	4.8%	5.3%
Enterprise value	€3.1B	€2.7B	€2.7B	€2.8B	€2.9B	€3.7B	€3.8B	€3.2B
Net debt / EBITDA	0.52×	0.62×	0.78×	1.87×	1.04×	2.93×	2.93×	1.77×
Cash conversion cycle (days)	136	145	141	188	169	109	124	105