Ecoener, S.A. (ENER.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

-7652.3%

-€256.78

vs €3.40 price

Levered DCF

-€283.97

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.36

Distress zone

Rating

C-

Overall 1 / 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	50.2×	26.47×	22.32×	15.23×	31.43×	81.04×	52.8×	819.67×
P/B	2.22×	1.86×	1.9×	2.13×	1.7×	105.9×	37.94×	31.78×
P/S	3.23×	3.14×	3.77×	3.57×	4.74×	8.4×	8.3×	9.14×
EV / EBITDA	17.06×	16.81×	15.48×	11.68×	47.41×	19.93×	23.51×	28.45×
Gross margin	91.6%	83.2%	84.7%	84.6%	84.6%	84.6%	89.4%	92.4%
Operating margin	25.7%	29.6%	29.1%	42.1%	28.8%	40.8%	33.3%	34.8%
Net margin	6.4%	11.9%	17.2%	23.2%	15.2%	10.4%	15.7%	1.1%
Current ratio	0.8×	1.01×	1.33×	2.42×	4.31×	1.3×	1.53×	1.36×
Debt / equity	4.52×	3.62×	2.92×	2.32×	1.89×	77.4×	21.12×	18.09×
Interest coverage	1.16×	1.62×	1.66×	5.09×	1.93×	1.32×	1.84×	1.46×
Dividend yield	0.1%	2.1%	0.2%	0.4%	0.3%	1.6%	1.4%	0.6%
Payout ratio	6.9%	55.3%	3.4%	5.8%	8.7%	130.9%	76.2%	463.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.4%	7.1%	8.7%	13.8%	5.5%	130.7%	71.9%	3.9%
Return on invested capital	2.8%	3.2%	3.4%	6.0%	-2.2%	6.1%	5.8%	5.7%
Return on assets	0.6%	1.2%	1.9%	3.5%	1.6%	1.5%	2.7%	0.2%
Free cash flow yield	-29.8%	-74.5%	-46.8%	-26.5%	-21.8%	-7.5%	1.1%	3.1%
Earnings yield	2.0%	3.8%	4.6%	6.5%	3.2%	1.2%	1.9%	0.1%
Enterprise value	€755.5M	€683.1M	€537.8M	€474M	€365.5M	€471M	€423.2M	€437.8M
Net debt / EBITDA	10.88×	10.5×	8.53×	5.27×	22.87×	8.08×	7.96×	9.94×
Cash conversion cycle (days)	240	-164	-90	-39	630	87	82	81