Franchetti S.p.A. (FCH.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

-263.2%

-€9.71

vs €5.95 price

Levered DCF

-€23.05

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.43

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
P/E	51.82×	36.39×	22.72×	17.11×	17.78×	66.25×
P/B	2.01×	3.63×	4.36×	4.57×	12.25×	26.04×
P/S	6×	9.64×	4.65×	4.44×	3.01×	5.24×
EV / EBITDA	14.03×	15.65×	11.46×	11.24×	11.46×	40.38×
Gross margin	161.3%	150.0%	70.1%	45.5%	40.6%	30.1%
Operating margin	34.2%	43.1%	33.0%	34.3%	28.2%	12.5%
Net margin	11.6%	27.0%	20.2%	25.3%	16.9%	7.9%
Current ratio	2.08×	2.02×	1.94×	2.4×	1.78×	1.52×
Debt / equity	0.41×	0.34×	0.46×	0.45×	1.6×	3.04×
Interest coverage	6.52×	6.46×	13.2×	15.86×	16.67×	5.51×
Dividend yield	0.0%	0.8%	0.2%	11.3%	1.3%	0.3%
Payout ratio	0.0%	27.3%	5.6%	199.0%	23.3%	22.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	3.9%	10.2%	19.0%	26.1%	68.5%	39.3%
Return on invested capital	4.6%	9.0%	13.1%	15.6%	22.4%	9.1%
Return on assets	2.2%	5.9%	9.7%	13.4%	16.8%	5.9%
Free cash flow yield	-16.3%	-9.4%	-4.9%	-7.4%	2.8%	-0.1%
Earnings yield	1.9%	2.8%	4.3%	5.7%	5.6%	1.5%
Enterprise value	€46.5M	€52.8M	€29M	€20.9M	€12.6M	€12.8M
Net debt / EBITDA	0.64×	-0.31×	0.17×	-0.08×	0.61×	2.7×
Cash conversion cycle (days)	87	223	318	182	96	135