Gateway Real Estate AG (GTY.DE) 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

-1131.9%

-€3.22

vs €0.31 price

Levered DCF

-€8.03

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.04

Distress zone

Rating

B-

Overall 2 / 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	0.64×	-0.61×	-0.76×	-23.88×	14.93×	6.21×	6.32×	4.59×
P/B	0.39×	1.01×	0.62×	2.04×	1.87×	1.57×	2.47×	1.07×
P/S	1.48×	0.69×	4.4×	30.9×	8.95×	68.72×	8.4×	8.37×
EV / EBITDA	4.56×	-17.69×	-12.32×	35.95×	60.05×	-124.41×	7.37×	9.07×
Gross margin	69.3%	122.1%	44.3%	558.2%	179.4%	140.8%	71.3%	209.9%
Operating margin	45.9%	-59.2%	-270.9%	74.9%	108.1%	1479.9%	157.7%	306.3%
Net margin	230.7%	-99.5%	-579.5%	-133.0%	60.6%	1115.4%	133.4%	179.1%
Current ratio	0.13×	1.04×	1.05×	1.82×	1.44×	1.53×	2.73×	2.06×
Debt / equity	3.58×	12.28×	4.53×	2.2×	1.7×	1.71×	1.92×	4.05×
Interest coverage	0.43×	-0.97×	-0.94×	0.3×	2.38×	10.25×	5.04×	1.76×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	10.1%	2.4%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	62.0%	14.8%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	61.0%	-146.4%	-81.0%	-8.8%	12.6%	25.4%	39.3%	22.8%
Return on invested capital	2.0%	-6.4%	-6.1%	1.4%	5.8%	9.0%	14.9%	6.0%
Return on assets	10.4%	-9.6%	-12.0%	-2.3%	3.8%	8.1%	12.1%	4.2%
Free cash flow yield	-63.3%	-27.7%	-104.8%	-17.9%	-12.2%	-16.5%	-27.3%	-41.5%
Earnings yield	156.2%	-145.0%	-131.6%	-4.3%	6.8%	16.2%	15.9%	21.4%
Enterprise value	€836.2M	€1.1B	€1B	€1.6B	€1.4B	€1.1B	€1.2B	€671.6M
Net debt / EBITDA	4.11×	-16.33×	-10.84×	18.53×	28.31×	-62.14×	2.47×	6.97×
Cash conversion cycle (days)	-447	-10,805	16,928	-2,334	-3,194	-66,015	7,039	-5,903