Elton International Trading Company S.A. (ELTON.AT) 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

+32.5%

€2.29

vs €1.73 price

Levered DCF

€0.94

After debt service

Piotroski score

9 / 9

Strong

Altman Z-score

3.21

Safe zone

Rating

A-

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	16.31×	19.36×	62.21×	5.51×	5.9×	10.69×	13.38×	9.38×
P/B	0.81×	0.72×	0.87×	0.89×	0.83×	0.69×	0.88×	0.63×
P/S	0.32×	0.31×	0.32×	0.31×	0.32×	0.3×	0.35×	0.25×
EV / EBITDA	8.93×	10.04×	13.53×	4.79×	5.04×	7.01×	8.56×	7.11×
Gross margin	14.6%	15.9%	14.6%	18.4%	18.2%	16.5%	14.2%	14.9%
Operating margin	3.7%	4.6%	4.5%	9.3%	7.8%	4.9%	4.6%	4.9%
Net margin	1.9%	1.6%	0.5%	5.6%	5.6%	2.8%	2.6%	2.6%
Current ratio	2.15×	2.36×	2.45×	2.42×	2.46×	2.95×	2.11×	2.3×
Debt / equity	0.38×	0.41×	0.39×	0.39×	0.33×	0.4×	0.47×	0.44×
Interest coverage	4.9×	4.25×	4.01×	13.22×	14.11×	6.12×	3.76×	4.78×
Dividend yield	3.3%	0.0%	5.6%	4.4%	4.4%	2.9%	3.4%	3.3%
Payout ratio	55.0%	0.0%	348.7%	24.4%	25.4%	30.5%	47.8%	30.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.9%	3.7%	1.4%	16.1%	14.3%	6.5%	6.3%	6.7%
Return on invested capital	5.2%	5.3%	3.9%	14.5%	12.0%	6.0%	5.5%	5.9%
Return on assets	2.9%	2.1%	0.8%	9.1%	8.1%	3.8%	3.5%	3.7%
Free cash flow yield	5.6%	-3.8%	15.5%	-5.4%	1.8%	26.3%	4.0%	-0.2%
Earnings yield	6.0%	5.2%	1.6%	18.1%	17.2%	9.4%	7.2%	10.6%
Enterprise value	€75.5M	€71.6M	€74.9M	€82.8M	€65.5M	€52M	€68.8M	€52.7M
Net debt / EBITDA	2.23×	3.03×	3.2×	1.3×	1.27×	2×	2.77×	2.71×
Cash conversion cycle (days)	145	155	133	153	152	163	167	38