Greencoat Renewables PLC (GRP.IR) 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

+745.6%

€6.87

vs €0.81 price

Levered DCF

€5.95

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

0.7

Distress zone

Rating

B+

Overall 3 / 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	-14.59×	18.41×	16.75×	8.69×	12.08×	52.49×	34.1×	7.46×
P/B	0.69×	0.76×	0.91×	0.95×	0.92×	0.99×	0.9×	0.82×
P/S	6.18×	15.12×	2,282.48×	10.45×	30.52×	23.62×	26.49×	27.85×
EV / EBITDA	-257.88×	20.2×	22.49×	13.41×	7.83×	47.83×	27.88×	15.7×
Gross margin	89.6%	100.0%	27360.4%	85.2%	0.2%	72.9%	69.9%	21.1%
Operating margin	-5.8%	85.9%	20928.4%	130.5%	282.8%	62.4%	83.3%	373.3%
Net margin	-42.3%	82.1%	13624.9%	117.4%	252.7%	45.0%	77.7%	373.3%
Current ratio	0×	0.27×	1.39×	0.25×	0.86×	3.84×	2.64×	0.64×
Debt / equity	1.03×	0.96×	0.98×	0.66×	0.51×	0.28×	0.32×	0.92×
Interest coverage	-0.19×	1.33×	3.56×	12.24×	17.5×	6.73×	3.48×	0×
Dividend yield	9.9%	8.0%	6.2%	5.5%	5.5%	5.2%	5.0%	6.4%
Payout ratio	-144.3%	147.6%	104.5%	48.6%	66.3%	271.3%	170.9%	47.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-4.8%	4.1%	5.4%	10.6%	7.6%	1.9%	2.6%	11.1%
Return on invested capital	-0.3%	2.1%	4.0%	7.1%	5.7%	2.0%	1.6%	5.8%
Return on assets	-2.3%	2.1%	2.7%	6.4%	5.0%	1.5%	2.0%	5.7%
Free cash flow yield	9.6%	9.2%	10.9%	8.4%	1.9%	2.5%	2.6%	1.0%
Earnings yield	-6.9%	5.4%	6.0%	11.2%	8.3%	1.9%	2.9%	13.4%
Enterprise value	€1.9B	€2.1B	€2.4B	€2B	€1.3B	€933.2M	€782.7M	€684M
Net debt / EBITDA	-151.29×	11.18×	11.58×	5.4×	2.76×	9.96×	7.12×	8.24×
Cash conversion cycle (days)	49	1	42	406	-28	-227	163	-177