Evrofarma S.A. (EVROF.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

+107.6%

€7.58

vs €3.65 price

Levered DCF

€8.30

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.63

Grey zone

Rating

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	13.88×	10.65×	7.75×	7.12×	-35×	12.08×	101.74×	9.01×
P/B	2.39×	1.39×	1.05×	0.69×	0.99×	1.01×	1.35×	0.76×
P/S	1×	0.54×	0.35×	0.21×	0.34×	0.38×	0.48×	0.27×
EV / EBITDA	10.07×	6.49×	6.23×	7.45×	20.04×	9.03×	13.61×	7.65×
Gross margin	21.2%	18.9%	14.5%	12.3%	10.5%	14.0%	17.8%	18.3%
Operating margin	7.9%	6.1%	6.1%	3.0%	-3.7%	1.8%	4.8%	5.7%
Net margin	7.1%	5.0%	4.5%	3.1%	-1.0%	3.2%	0.5%	3.0%
Current ratio	2.23×	0.97×	1.25×	1.48×	1.67×	1.76×	0.59×	1.01×
Debt / equity	0.82×	0.95×	1.2×	1.51×	1.69×	1.62×	1.55×	1.58×
Interest coverage	5.63×	2.36×	2.15×	1.47×	0×	0.7×	2.09×	2.17×
Dividend yield	1.4%	2.7%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	19.3%	29.8%	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	17.1%	12.8%	13.6%	10.1%	-2.8%	8.3%	1.3%	8.4%
Return on invested capital	6.4%	5.3%	5.9%	3.1%	-3.4%	1.3%	2.1%	3.9%
Return on assets	6.3%	4.7%	4.6%	2.9%	-0.8%	2.3%	0.4%	2.2%
Free cash flow yield	-1.0%	16.7%	3.1%	6.0%	-33.4%	4.2%	5.6%	14.7%
Earnings yield	7.1%	9.2%	13.0%	14.6%	-2.9%	8.3%	1.0%	11.1%
Enterprise value	€59.7M	€38.3M	€35.8M	€29.5M	€33.5M	€30.9M	€34.3M	€26.7M
Net debt / EBITDA	1.75×	2.3×	3.28×	4.99×	12.59×	5.22×	7.27×	5.12×
Cash conversion cycle (days)	76	76	82	66	132	94	82	84