eDreams ODIGEO S.A. (EDR.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

+276.1%

€18.03

vs €4.80 price

Levered DCF

€8.88

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

-0.25

Distress zone

Rating

B+

Overall 3 / 5

Ratios by fiscal year

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

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	6.4×	19.46×	26.44×	-15.72×	-13.88×	-4.17×	-5×	33.44×
P/B	1.34×	3.5×	3.07×	2.88×	3.33×	2×	0.54×	0.73×
P/S	0.5×	1.3×	1.29×	1.16×	2.28×	4.82×	0.36×	0.56×
EV / EBITDA	4.54×	10.1×	14.58×	43.67×	-205.66×	-13.78×	31.13×	6.12×
Gross margin	15.7%	100.0%	85.8%	96.9%	96.1%	59.1%	94.1%	96.7%
Operating margin	14.3%	11.2%	6.3%	-1.7%	-7.7%	-103.5%	-1.6%	16.4%
Net margin	7.8%	6.7%	5.0%	-7.4%	-16.5%	-115.9%	-7.2%	1.7%
Current ratio	0.25×	0.29×	0.33×	0.25×	0.28×	0.19×	0.67×	0.6×
Debt / equity	1.54×	1.5×	1.39×	1.63×	1.56×	1.99×	1.43×	1.02×
Interest coverage	3.86×	2.92×	1.59×	-0.37×	-0.81×	-3.76×	-0.36×	1.96×
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	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	21.1%	18.0%	11.8%	-18.3%	-24.2%	-48.1%	-10.8%	2.3%
Return on invested capital	12.2%	11.0%	6.1%	-1.5%	-4.0%	-12.4%	-1.0%	4.0%
Return on assets	4.4%	3.9%	2.8%	-4.0%	-6.1%	-12.6%	-3.6%	0.7%
Free cash flow yield	33.8%	10.4%	10.7%	9.4%	10.2%	-4.1%	-64.8%	15.2%
Earnings yield	15.7%	5.1%	3.8%	-6.4%	-7.3%	-24.1%	-20.0%	3.1%
Enterprise value	€632.2M	€1.2B	€1.1B	€1B	€1.3B	€1B	€652.6M	€586.7M
Net debt / EBITDA	2.15×	2.56×	3.73×	14.81×	-60.48×	-6.79×	21.46×	2.92×
Cash conversion cycle (days)	-181	-1,022	-1,187	-5,490	-7,039	13,145	-2,088	-8,784