Home Invest Belgium S.A. (HOMI.BR) 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

+46.5%

€25.81

vs €17.62 price

Levered DCF

€15.32

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.91

Distress zone

Rating

A+

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	6.13×	4.22×	-20.39×	6.51×	8.22×	20.09×	6.75×	4.37×
P/B	0.71×	0.7×	0.69×	0.91×	1.17×	1.22×	1.21×	1.12×
P/S	9.09×	9×	7.92×	11.46×	12.78×	13.64×	14.32×	12×
EV / EBITDA	12.31×	7.37×	-212.4×	13.87×	33.93×	53.72×	72.94×	60.07×
Gross margin	82.0%	86.8%	79.5%	85.6%	77.2%	83.4%	83.1%	81.0%
Operating margin	70.0%	243.0%	5.1%	80.6%	150.2%	89.2%	244.6%	300.8%
Net margin	148.2%	213.5%	-39.0%	175.8%	155.6%	67.8%	211.9%	274.7%
Current ratio	6.13×	0.31×	0.1×	0.19×	0.18×	0.17×	0.12×	0.49×
Debt / equity	0.88×	0.74×	0.91×	0.95×	1.11×	1.07×	1.01×	0.98×
Interest coverage	4.34×	7.18×	0.18×	5.45×	13.43×	0×	21.35×	25.47×
Dividend yield	5.5%	3.4%	0.9%	4.7%	4.1%	4.8%	4.0%	4.9%
Payout ratio	34.0%	14.2%	-18.7%	30.5%	33.3%	97.1%	26.8%	21.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.5%	16.7%	-3.4%	14.0%	14.2%	6.1%	17.9%	25.6%
Return on invested capital	2.8%	10.2%	0.2%	3.3%	6.4%	3.8%	10.1%	13.9%
Return on assets	6.1%	9.0%	-1.8%	7.0%	6.6%	2.9%	8.7%	12.5%
Free cash flow yield	4.9%	3.8%	7.0%	-2.2%	-0.4%	3.1%	2.8%	2.2%
Earnings yield	16.3%	23.7%	-4.9%	15.3%	12.2%	5.0%	14.8%	22.9%
Enterprise value	€820.8M	€697M	€665.7M	€759.3M	€778.8M	€708.9M	€683.9M	€560.7M
Net debt / EBITDA	6.81×	3.76×	-119.91×	7.06×	16.45×	24.94×	32.96×	27.87×
Cash conversion cycle (days)	-114	-142	-187	-168	-60	-198	-257	-214