Eezy Oyj (EEZY.HE) 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

+1049.0%

€2.00

vs €0.17 price

Levered DCF

€1.33

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.75

Distress zone

Rating

C+

Overall 2 / 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	-8.08×	-91.8×	64.73×	10.8×	19.29×	53.6×	25.39×	-13.1×
P/B	0.18×	0.27×	0.39×	0.72×	1.4×	1.45×	1.15×	0.69×
P/S	0.13×	0.16×	0.19×	0.32×	0.73×	0.77×	0.68×	0.31×
EV / EBITDA	8.76×	8.28×	8.05×	6.84×	10.1×	14.46×	13.96×	5.81×
Gross margin	14.8%	10.6%	14.1%	14.3%	15.6%	29.1%	30.6%	23.8%
Operating margin	0.1%	1.6%	1.8%	4.0%	5.8%	4.3%	4.7%	1.5%
Net margin	-1.7%	-0.2%	0.3%	2.9%	3.7%	1.4%	2.7%	-2.4%
Current ratio	0.63×	0.69×	0.79×	0.84×	0.86×	0.87×	0.88×	1.22×
Debt / equity	0.49×	0.51×	0.55×	0.52×	0.5×	0.57×	0.59×	0.36×
Interest coverage	0.04×	0.8×	1.5×	6.21×	7.93×	5.08×	9.05×	0.66×
Dividend yield	1.4%	1.6%	9.0%	4.8%	2.7%	1.9%	4.0%	0.0%
Payout ratio	-11.6%	-143.1%	582.5%	52.5%	52.9%	103.7%	103.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-2.2%	-0.3%	0.6%	6.5%	7.2%	2.7%	4.5%	-5.3%
Return on invested capital	0.1%	0.8%	1.7%	4.6%	5.5%	3.9%	3.3%	2.4%
Return on assets	-1.2%	-0.2%	0.3%	3.3%	3.7%	1.3%	2.2%	-3.0%
Free cash flow yield	40.8%	22.4%	8.6%	15.8%	3.0%	13.3%	8.3%	-1.7%
Earnings yield	-12.4%	-1.1%	1.5%	9.1%	5.1%	1.8%	3.9%	-7.7%
Enterprise value	€64.9M	€80.7M	€98.8M	€129.9M	€195.5M	€188.9M	€170.2M	€50.3M
Net debt / EBITDA	6.22×	5.4×	4.64×	2.71×	2.41×	3.25×	4.43×	1.34×
Cash conversion cycle (days)	29	30	34	-25	44	25	-17	-22