ED Invest Spólka Akcyjna (EDI.WA) 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

+119.8%

PLN 16.18

vs PLN 7.36 price

Levered DCF

PLN 24.19

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.99

Grey zone

Rating

A+

Overall 5 / 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	12.07×	18.32×	3.79×	4.48×	4.02×	4.17×	7.81×	15.92×
P/B	1.47×	0.9×	1.06×	0.64×	0.55×	0.74×	0.55×	0.44×
P/S	0.57×	0.86×	0.55×	0.51×	0.59×	0.47×	0.64×	0.59×
EV / EBITDA	7.54×	11.76×	2.6×	1.88×	0.58×	1.84×	3.12×	-1.74×
Gross margin	15.5%	22.6%	25.0%	25.6%	30.7%	23.1%	27.5%	16.7%
Operating margin	7.3%	6.3%	17.8%	14.7%	17.8%	15.4%	12.0%	5.3%
Net margin	4.7%	4.6%	14.5%	11.4%	14.7%	11.3%	8.3%	3.6%
Current ratio	1.91×	3.33×	3.87×	4.04×	6.09×	8.5×	6.28×	9.04×
Debt / equity	0.09×	0.1×	0.01×	0.05×	0.14×	0.18×	0.19×	0.07×
Interest coverage	24.1×	35.22×	64.4×	17.04×	14.29×	19.99×	19.58×	8.38×
Dividend yield	29.9%	19.1%	21.3%	24.8%	8.8%	7.1%	2.2%	5.8%
Payout ratio	362.7%	354.9%	80.8%	111.4%	35.1%	29.6%	17.0%	93.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.1%	4.8%	28.1%	14.3%	13.7%	17.8%	7.1%	2.7%
Return on invested capital	10.7%	4.2%	24.8%	12.9%	12.0%	14.1%	6.3%	2.7%
Return on assets	5.0%	3.1%	19.7%	9.6%	10.4%	12.2%	4.8%	2.2%
Free cash flow yield	30.9%	-3.2%	4.8%	-3.4%	43.8%	26.0%	-27.7%	53.4%
Earnings yield	8.2%	5.4%	26.4%	22.2%	25.0%	24.0%	13.0%	6.2%
Enterprise value	PLN 74.4M	PLN 58.9M	PLN 63.7M	PLN 23.1M	PLN 6.3M	PLN 26.1M	PLN 17.2M	-PLN 3.9M
Net debt / EBITDA	0.37×	0.51×	-0.44×	-1.4×	-2.61×	-1.21×	-1.97×	-12.25×
Cash conversion cycle (days)	140	465	202	196	300	141	263	226