Fagron N.V. (FAGR.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

+96.4%

€46.15

vs €23.50 price

Levered DCF

€39.18

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.62

Grey zone

Rating

B+

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	FY2020	FY2019	FY2018
P/E	17.04×	15.24×	17.12×	13.82×	17.62×	22.89×	24.78×	24.2×
P/B	2.82×	2.44×	2.61×	2.4×	3.36×	5.41×	5.73×	4.98×
P/S	1.63×	1.4×	1.59×	1.41×	1.87×	2.46×	2.6×	2.17×
EV / EBITDA	10.03×	8.98×	10.78×	9.15×	11.55×	14.21×	15.48×	14.65×
Gross margin	21.5%	45.4%	43.6%	41.8%	43.1%	44.4%	44.9%	44.2%
Operating margin	14.6%	15.0%	14.2%	14.3%	15.2%	16.0%	15.8%	15.6%
Net margin	9.6%	9.2%	9.2%	10.2%	10.6%	10.7%	10.4%	9.0%
Current ratio	2.11×	1.86×	1.92×	1.86×	1.61×	1.11×	1.25×	1.06×
Debt / equity	0.85×	0.77×	0.79×	0.99×	1.05×	1.4×	1.62×	1.6×
Interest coverage	4.27×	7.49×	4.73×	5.92×	6.88×	6.2×	5.32×	4.57×
Dividend yield	1.7%	1.7%	1.5%	1.5%	1.2%	0.4%	0.6%	0.7%
Payout ratio	28.6%	26.1%	25.9%	20.9%	21.4%	9.7%	15.5%	16.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	16.5%	16.1%	15.2%	17.3%	19.1%	23.5%	23.0%	20.6%
Return on invested capital	10.5%	11.3%	10.9%	9.5%	10.4%	11.6%	10.3%	10.4%
Return on assets	7.3%	7.4%	7.0%	7.2%	7.6%	7.9%	7.0%	6.2%
Free cash flow yield	7.3%	6.8%	5.7%	9.4%	5.4%	5.4%	4.0%	5.6%
Earnings yield	5.8%	6.6%	5.8%	7.2%	5.7%	4.4%	4.0%	4.1%
Enterprise value	€1.8B	€1.5B	€1.4B	€1.2B	€1.3B	€1.6B	€1.7B	€1.3B
Net debt / EBITDA	1.55×	1.63×	1.74×	2.02×	2.28×	2.35×	2.64×	2.89×
Cash conversion cycle (days)	47	52	48	55	54	47	38	52