Hawick Data N.V. (HWK.AS) 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

+23.9%

€2.78

vs €2.24 price

Levered DCF

€2.05

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

64.07

Safe 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	76.53×	0.91×	5.57×	5.85×	12.5×	-57.95×	-12.26×	-10.61×
P/B	0.76×	0.78×	4.9×	34.13×	-9.06×	-6.44×	-7.01×	-15.1×
P/S	0×	14.15×	1.5×	1.21×	1.75×	1.81×	3.5×	2.88×
EV / EBITDA	2.45×	-3.62×	4.91×	4.19×	8.53×	-27.17×	-28.37×	-19.84×
Gross margin	0.0%	100.0%	76.4%	78.3%	80.9%	77.6%	70.2%	63.6%
Operating margin	0.0%	76.5%	25.4%	24.4%	24.4%	11.8%	-22.6%	-22.9%
Net margin	0.0%	1556.8%	27.1%	20.5%	14.4%	-3.1%	-28.5%	-27.1%
Current ratio	178.68×	78.35×	1.72×	0.81×	0.84×	0.4×	0.19×	0.61×
Debt / equity	0×	0×	0.78×	9.55×	-3.67×	-2.59×	-1.89×	-4×
Interest coverage	-189×	16.39×	14.13×	5.67×	4.54×	0.93×	-3.38×	0×
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	1.0%	85.6%	88.4%	576.9%	-74.5%	11.1%	57.2%	142.4%
Return on invested capital	-1.7%	4.1%	46.6%	58.4%	41.9%	26.4%	-49.6%	-38.2%
Return on assets	1.0%	84.5%	36.6%	33.4%	17.1%	-3.8%	-31.7%	-30.4%
Free cash flow yield	-1.5%	12.0%	13.9%	21.2%	10.7%	1.7%	-6.8%	-4.7%
Earnings yield	1.3%	110.0%	18.1%	16.9%	8.2%	-1.7%	-8.2%	-9.4%
Enterprise value	€270K	-€2.4M	€7.5M	€6.8M	€10.1M	€10.2M	€17.4M	€15.3M
Net debt / EBITDA	-73.31×	-16.35×	-0.09×	0.36×	1.87×	-7.25×	-5.97×	-3.37×
Cash conversion cycle (days)	0	-9	4	4	24	-17	-27	-2