Griñó Ecologic, S.A. (GRI.MC) 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

+205.6%

€4.55

vs €1.49 price

Levered DCF

€4.67

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.08

Grey 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	12.55×	13.42×	14.36×	12.15×	29.33×	36.36×	185.26×	248×
P/B	0.71×	0.93×	1.26×	1.4×	1.97×	1.85×	1.93×	1.37×
P/S	0.41×	0.55×	0.71×	0.77×	1.14×	1.1×	1.13×	0.99×
EV / EBITDA	3.64×	4.7×	5.94×	6.05×	9.09×	9.48×	13.3×	10.27×
Gross margin	23.8%	53.0%	31.1%	49.8%	52.5%	52.7%	49.8%	48.9%
Operating margin	4.8%	7.9%	7.9%	8.4%	6.3%	6.1%	2.5%	2.3%
Net margin	3.3%	4.1%	4.9%	6.3%	3.9%	3.0%	0.6%	0.4%
Current ratio	1.12×	1.31×	1.55×	1.38×	1.38×	0.99×	1.19×	1.03×
Debt / equity	0.14×	0.43×	0.56×	0.56×	0.52×	0.7×	0.63×	0.47×
Interest coverage	4.77×	5.82×	5.36×	11.46×	6.73×	4.43×	2.73×	27.68×
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	5.6%	6.9%	8.7%	11.4%	6.7%	5.1%	1.0%	0.5%
Return on invested capital	3.8%	5.3%	5.8%	7.0%	4.5%	3.3%	0.7%	0.4%
Return on assets	3.3%	4.0%	4.4%	5.0%	3.3%	2.3%	0.5%	0.3%
Free cash flow yield	14.2%	14.4%	12.2%	5.2%	11.6%	6.1%	9.9%	2.2%
Earnings yield	8.0%	7.5%	6.9%	8.1%	3.4%	2.8%	0.5%	0.4%
Enterprise value	€31.6M	€50.1M	€64.4M	€62.6M	€72.8M	€72.1M	€70.1M	€49.4M
Net debt / EBITDA	0.15×	1.16×	1.51×	1.41×	1.51×	2.45×	3.16×	2.44×
Cash conversion cycle (days)	17	-9	11	-74	-60	-72	-113	-75