Gefran S.p.A. (GE.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

+31.3%

€14.64

vs €11.15 price

Levered DCF

€19.27

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.24

Safe zone

Rating

Overall 4 / 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	15.43×	11.82×	10.61×	12.44×	11.84×	20.53×	13.92×	12.19×
P/B	1.5×	1.32×	1.32×	1.38×	1.89×	1.13×	1.31×	1.37×
P/S	1.09×	0.99×	0.93×	0.94×	1.39×	0.69×	0.7×	0.74×
EV / EBITDA	5.27×	4.19×	4.19×	4.06×	7.03×	5.67×	6.11×	5.27×
Gross margin	71.6%	72.0%	54.1%	53.3%	53.6%	49.3%	48.6%	48.9%
Operating margin	10.3%	11.4%	12.5%	11.8%	12.2%	6.3%	7.4%	10.2%
Net margin	7.1%	8.4%	8.8%	7.5%	11.8%	3.4%	5.0%	6.0%
Current ratio	2.2×	2.53×	2.41×	1.92×	1.74×	1.98×	1.65×	1.61×
Debt / equity	0.2×	0.25×	0.37×	0.22×	0.4×	0.58×	0.5×	0.31×
Interest coverage	0×	15.32×	35.59×	48.22×	30.85×	16.66×	23.21×	44.33×
Dividend yield	4.0%	4.6%	4.6%	4.4%	5.2%	0.0%	4.7%	5.0%
Payout ratio	61.9%	53.5%	49.0%	54.7%	61.9%	0.0%	65.3%	61.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.8%	11.2%	12.4%	11.0%	16.0%	5.6%	9.4%	11.2%
Return on invested capital	8.3%	8.5%	8.8%	10.4%	8.6%	3.6%	6.1%	9.0%
Return on assets	6.0%	6.8%	7.1%	6.5%	7.7%	2.7%	4.5%	5.9%
Free cash flow yield	9.2%	15.5%	7.7%	10.9%	12.3%	12.4%	2.4%	9.6%
Earnings yield	6.5%	8.5%	9.4%	8.0%	8.5%	4.9%	7.2%	8.1%
Enterprise value	€118.3M	€96.6M	€101.2M	€101.5M	€160.5M	€92M	€111.2M	€104.7M
Net debt / EBITDA	-1.47×	-1.49×	-0.93×	-0.95×	-0.05×	0.22×	0.73×	0.23×
Cash conversion cycle (days)	14	54	76	78	60	88	79	120