Asturiana de Laminados, S.A. (ELZ.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

-1248.2%

-€0.67

vs €0.06 price

Levered DCF

-€0.57

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.47

Distress 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	0.49×	-0.37×	-8.18×	78.28×	10.28×	14.93×	122.29×	-18.08×
P/B	0.49×	1.35×	0.5×	0.61×	0.88×	0.59×	0.28×	0.74×
P/S	0.13×	0.13×	0.22×	0.22×	0.38×	0.35×	0.14×	0.39×
EV / EBITDA	41.49×	-4.18×	20.79×	13.83×	11.65×	10×	10.66×	21.55×
Gross margin	8.6%	21.7%	19.0%	18.5%	22.0%	14.0%	20.1%	20.1%
Operating margin	0.0%	3.2%	2.6%	4.3%	8.4%	7.3%	4.3%	0.6%
Net margin	26.2%	-37.2%	-2.7%	0.3%	3.7%	2.3%	0.1%	-2.2%
Current ratio	1.36×	0.47×	0.7×	0.89×	1.19×	0.83×	0.71×	0.98×
Debt / equity	3.67×	9.71×	1.93×	1.86×	1.61×	1.15×	1.26×	1.31×
Interest coverage	0×	0.31×	0.4×	1.09×	2.1×	1.55×	0.87×	0.13×
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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	101.6%	-373.7%	-6.1%	0.8%	8.6%	4.0%	0.2%	-4.1%
Return on invested capital	0.0%	2.5%	1.3%	2.8%	4.7%	3.3%	2.7%	0.3%
Return on assets	16.4%	-25.5%	-1.6%	0.2%	2.5%	1.2%	0.1%	-1.1%
Free cash flow yield	35.3%	-28.5%	27.7%	-6.5%	-12.3%	11.1%	-43.3%	-36.9%
Earnings yield	207.9%	-276.7%	-12.2%	1.3%	9.7%	6.7%	0.8%	-5.5%
Enterprise value	€83.8M	€99.6M	€105.5M	€113.9M	€113.9M	€76.3M	€57.2M	€77.7M
Net debt / EBITDA	36.5×	-3.66×	16.42×	10.31×	7.35×	6.55×	8.62×	13.6×
Cash conversion cycle (days)	85	54	23	44	50	50	58	114