Futebol Clube do Porto - Futebol, S.A.D. (FCP.LS) 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

+3767.1%

€108.28

vs €2.80 price

Levered DCF

-€94.62

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

-1.23

Distress zone

Rating

Overall 2 / 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	-2.56×	0.6×	-1.2×	-0.51×	911.11×	788.89×	-152.88×	1.67×
P/B	-0.57×	-0.24×	-0.13×	-0.11×	-109.13×	-84.13×	-85.53×	-0.17×
P/S	0.46×	0.16×	0.15×	0.15×	128.32×	103.99×	204.9×	0.09×
EV / EBITDA	-15.46×	2.49×	5.81×	17.03×	3.47×	4.03×	-6.35×	3.15×
Gross margin	-29.4%	-7.8%	-9.2%	-20.0%	94.5%	96.2%	94.5%	97.8%
Operating margin	-52.4%	-22.3%	-15.2%	-21.0%	-29.3%	-10.1%	-103.5%	18.3%
Net margin	-17.7%	26.7%	-12.2%	-29.1%	14.4%	12.5%	-132.8%	5.4%
Current ratio	0.41×	0.83×	0.19×	0.43×	0.45×	0.46×	0.28×	0.65×
Debt / equity	-2.12×	-2.85×	-1.27×	-1.46×	-1,736.63×	-1,613.14×	-1,203.43×	-2.38×
Interest coverage	-3.93×	-1.37×	-0.96×	-1.51×	-0×	-0×	-0×	1.56×
Dividend yield	5.3%	0.0%	1.5%	1.6%	0.0%	0.3%	0.1%	3.1%
Payout ratio	-13.7%	0.0%	-1.8%	-0.8%	0.0%	251.1%	-11.3%	5.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	22.0%	-40.2%	10.7%	22.0%	-12.3%	-10.2%	55.4%	-10.2%
Return on invested capital	-23.4%	-8.3%	-11.8%	-16.7%	-0.0%	-0.0%	-0.1%	10.4%
Return on assets	-5.0%	7.7%	-5.2%	-13.4%	5.0%	4.9%	-38.6%	2.5%
Free cash flow yield	-110.2%	-321.2%	-22.4%	-387.8%	-0.1%	-0.2%	-0.2%	-380.7%
Earnings yield	-38.9%	166.1%	-82.8%	-194.2%	0.1%	0.1%	-0.6%	60.1%
Enterprise value	€301.1M	€283.5M	€271.9M	€320.2M	€312.1M	€322.3M	€269.6M	€228.8M
Net debt / EBITDA	-11.99×	2.29×	5.27×	15.73×	3.26×	3.83×	-5.93×	2.93×
Cash conversion cycle (days)	-59	104	-113	13	-3,528,716	-4,301,700	-4,335,783	-4,842