Espe S.p.A. (ESPE.MI) 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

-2087.3%

-€108.91

vs €5.48 price

Levered DCF

-€19.22

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.73

Distress zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
P/E	3.97×	8.97×	7.14×	52.91×	161.29×
P/B	1.4×	2.1×	1.39×	2.2×	2.3×
P/S	0.39×	0.61×	0.27×	0.27×	0.65×
EV / EBITDA	3.3×	6.38×	3.18×	18.48×	33.81×
Gross margin	15.3%	70.6%	20.6%	2.2%	1.0%
Operating margin	14.1%	12.9%	10.8%	0.4%	-1.6%
Net margin	9.7%	6.8%	3.8%	0.5%	0.4%
Current ratio	1.27×	1.21×	1.14×	1.14×	1.23×
Debt / equity	0.8×	1.06×	0.54×	1.08×	1.01×
Interest coverage	22.45×	12.53×	12.27×	1.47×	-2.72×
Dividend yield	6.5%	0.0%	0.0%	0.0%	0.0%
Payout ratio	26.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	35.0%	23.6%	19.1%	4.2%	1.4%
Return on invested capital	16.6%	13.1%	21.5%	0.8%	-1.7%
Return on assets	6.3%	3.6%	2.7%	0.5%	0.3%
Free cash flow yield	8.8%	-47.9%	16.1%	-3.7%	8.6%
Earnings yield	25.0%	11.2%	13.7%	1.9%	0.6%
Enterprise value	€41M	€45.3M	€13.2M	€16.4M	€15.5M
Net debt / EBITDA	1.05×	2.04×	0.33×	5.11×	7.91×
Cash conversion cycle (days)	414	1,183	334	181	176