Wise Energy S.A. (FMG.WA) 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

-665.4%

-PLN 258.94

vs PLN 45.80 price

Levered DCF

-PLN 4,013.55

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.46

Distress 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	2.05×	1.84×	1.88×	1.05×	1.46×	-0.44×	0.06×	-160.83×
P/B	0.24×	0.36×	0.3×	0.22×	0.14×	0.33×	0.14×	0.3×
P/S	0.18×	0.12×	0.24×	0.12×	0.14×	0.11×	0.04×	0.21×
EV / EBITDA	4.03×	1.64×	1.99×	1.78×	0.92×	-9.88×	0.76×	-43.53×
Gross margin	5.0%	13.6%	31.4%	10.7%	4.8%	18.6%	22.6%	17.6%
Operating margin	2.9%	13.9%	17.9%	21.8%	2.2%	-17.1%	91.6%	-3.1%
Net margin	8.9%	6.7%	12.6%	11.3%	9.8%	-24.7%	71.1%	-0.1%
Current ratio	1.95×	0.95×	2.03×	2.02×	1.89×	0.45×	0.55×	1.48×
Debt / equity	0.17×	0.53×	0.55×	0.56×	0.46×	1.43×	2.23×	1.36×
Interest coverage	2.2×	2.86×	2.39×	7.68×	0.33×	-4.72×	29.6×	-0.98×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	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	11.5%	19.8%	15.8%	21.4%	9.3%	-74.8%	248.5%	-0.2%
Return on invested capital	2.9%	19.8%	8.9%	15.7%	-1.5%	-12.5%	68.9%	-2.5%
Return on assets	8.2%	6.7%	6.4%	7.6%	3.3%	-5.5%	24.8%	-0.1%
Free cash flow yield	9.1%	70.9%	112.1%	-56.8%	-634.6%	311.9%	333.0%	-42.1%
Earnings yield	48.7%	55.3%	53.1%	95.5%	68.6%	-225.8%	1817.0%	-0.6%
Enterprise value	PLN 34M	PLN 38.6M	PLN 25M	PLN 19.3M	PLN 8.3M	PLN 11.8M	PLN 23.4M	PLN 19.7M
Net debt / EBITDA	1.63×	0.91×	1.27×	1.23×	0.6×	-7.96×	0.72×	-34.96×
Cash conversion cycle (days)	106	115	413	306	583	-44	126	-166