Energoinstal S.A. (ENI.WA) 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

-216.5%

-PLN 1.86

vs PLN 1.60 price

Levered DCF

-PLN 0.73

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

-0.26

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	71.01×	-2.63×	-29.08×	-0.4×	-1.59×	-19.05×	9.99×	-3.17×
P/B	0.99×	0.45×	1.44×	0.27×	0.33×	0.29×	0.27×	0.28×
P/S	0.95×	0.3×	0.62×	0.16×	0.2×	0.14×	0.16×	0.11×
EV / EBITDA	-9.62×	-14.25×	16.68×	-1.66×	-5.18×	1.87×	2.2×	4.15×
Gross margin	6.5%	6.4%	15.2%	-18.2%	-2.1%	15.2%	19.4%	8.1%
Operating margin	-19.0%	-8.6%	0.8%	-35.4%	11.5%	2.1%	-4.2%	0.2%
Net margin	1.3%	-11.6%	-2.1%	-38.6%	-12.9%	-0.7%	1.6%	-3.4%
Current ratio	1.23×	0.35×	0.75×	0.65×	0.95×	1.43×	1.51×	1.25×
Debt / equity	0.44×	0.62×	0.78×	0.68×	0.37×	0.25×	0.17×	0.13×
Interest coverage	-4.26×	-1.49×	0.22×	-9.32×	8.61×	1.17×	-2.82×	0.12×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	2.3%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	-43.6%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	1.4%	-17.3%	-5.0%	-67.5%	-20.7%	-1.5%	2.7%	-8.6%
Return on invested capital	-4.3%	-5.2%	0.7%	-28.7%	11.0%	-2.2%	-3.2%	0.4%
Return on assets	0.7%	-6.3%	-1.6%	-23.2%	-9.3%	-0.7%	1.4%	-4.1%
Free cash flow yield	-8.8%	96.6%	-11.7%	3.0%	-63.9%	30.2%	-28.3%	-19.0%
Earnings yield	1.4%	-38.4%	-3.4%	-247.4%	-63.2%	-5.2%	10.0%	-31.2%
Enterprise value	PLN 57.1M	PLN 35.7M	PLN 100.4M	PLN 33.3M	PLN 41M	PLN 13.6M	PLN 17.4M	PLN 14.3M
Net debt / EBITDA	-2.35×	-6.7×	5.37×	-1.07×	-2.4×	0.08×	0.47×	0.18×
Cash conversion cycle (days)	49	-111	2	58	90	50	60	37