EVS Broadcast Equipment S.A. (EVS.BR) 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

+523.4%

€109.09

vs €17.50 price

Levered DCF

€75.25

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.39

Safe zone

Rating

S-

Overall 5 / 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	12.8×	9.76×	10.49×	9.51×	7.96×	31.51×	15.54×	8.92×
P/B	2.12×	1.9×	2.03×	1.7×	1.71×	1.62×	2.15×	2.22×
P/S	2.37×	2.11×	2.24×	2.01×	2.02×	2.59×	2.95×	2.7×
EV / EBITDA	7.61×	5.74×	7.1×	6.56×	4.9×	14.33×	8.94×	8.16×
Gross margin	70.8%	72.3%	69.7%	66.7%	69.6%	66.5%	71.6%	71.1%
Operating margin	21.0%	22.7%	23.9%	21.4%	27.0%	6.4%	22.3%	24.2%
Net margin	18.5%	21.7%	21.3%	21.2%	25.4%	8.2%	19.0%	30.3%
Current ratio	2.73×	3.43×	3.47×	3.43×	3.5×	3.35×	3.61×	4.15×
Debt / equity	0.06×	0.06×	0.07×	0.09×	0.11×	0.12×	0.1×	0.07×
Interest coverage	34.34×	40.04×	45.05×	34.77×	41.54×	6.78×	38.13×	77.31×
Dividend yield	3.3%	3.6%	5.5%	6.7%	4.8%	0.0%	4.4%	4.3%
Payout ratio	41.7%	34.8%	58.2%	64.2%	38.4%	0.0%	69.2%	38.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	16.6%	19.4%	19.3%	17.8%	21.5%	5.1%	13.8%	24.9%
Return on invested capital	15.6%	17.7%	18.2%	15.7%	18.8%	3.5%	12.6%	18.3%
Return on assets	11.9%	14.7%	14.7%	13.4%	15.8%	3.8%	10.7%	19.9%
Free cash flow yield	4.6%	13.6%	7.3%	0.4%	13.4%	6.9%	5.6%	9.7%
Earnings yield	7.8%	10.2%	9.5%	10.5%	12.6%	3.1%	6.4%	11.2%
Enterprise value	€435.6M	€343.8M	€350.8M	€264.6M	€222.5M	€192.6M	€259.3M	€255.4M
Net debt / EBITDA	-1.02×	-1.25×	-0.74×	-0.84×	-1.21×	-2.66×	-1.57×	-1.87×
Cash conversion cycle (days)	264	300	297	310	248	348	278	214