General Commercial & Industrial S.A. (GEBKA.AT) 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

+84.9%

€3.59

vs €1.94 price

Levered DCF

€5.98

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

5.26

Safe zone

Rating

A+

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	19.83×	20.66×	12.07×	7.56×	9.67×	18.84×	17.49×	15.71×
P/B	1.84×	1.09×	1.43×	1.01×	1.07×	0.84×	0.83×	0.65×
P/S	1.19×	0.9×	0.86×	0.69×	0.67×	0.65×	0.6×	0.56×
EV / EBITDA	13.44×	12.16×	7.79×	5.08×	6.48×	12.06×	10.81×	9.93×
Gross margin	20.4%	20.6%	21.3%	28.6%	24.7%	18.5%	18.7%	20.8%
Operating margin	7.2%	4.9%	8.6%	12.4%	9.3%	3.2%	4.1%	4.4%
Net margin	5.9%	4.3%	7.1%	9.3%	7.0%	3.4%	3.4%	3.5%
Current ratio	4.21×	5.56×	4.2×	4.37×	4.25×	4.42×	4.8×	4.21×
Debt / equity	0×	0×	0.02×	0.05×	0.12×	0.19×	0.16×	0.16×
Interest coverage	86.92×	83.19×	52.61×	59.14×	28.96×	10.01×	8.26×	8.13×
Dividend yield	3.2%	5.5%	4.1%	4.5%	3.0%	4.2%	1.8%	1.6%
Payout ratio	63.7%	113.2%	50.8%	33.9%	28.8%	79.9%	32.2%	24.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.1%	5.3%	11.7%	13.6%	11.2%	4.4%	4.7%	4.1%
Return on invested capital	7.7%	4.3%	9.7%	11.9%	9.0%	2.4%	3.3%	2.9%
Return on assets	7.0%	4.3%	9.1%	10.3%	8.1%	3.1%	3.4%	3.0%
Free cash flow yield	7.7%	6.4%	8.9%	9.1%	8.8%	2.1%	4.3%	-5.0%
Earnings yield	5.0%	4.8%	8.2%	13.4%	10.5%	5.3%	5.7%	6.4%
Enterprise value	€52.9M	€31.2M	€42.1M	€29.7M	€29.9M	€23.4M	€22.7M	€18.4M
Net debt / EBITDA	-1.1×	-0.71×	-0.28×	0.1×	0.42×	1.84×	1.51×	1.73×
Cash conversion cycle (days)	181	255	185	254	225	260	237	290