Inmocemento, S.A. (IMC.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

+288.3%

€13.71

vs €3.53 price

Levered DCF

€14.73

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.98

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
P/E	4.72×	1.37×	0×	-0×	0×
P/B	0.63×	0.09×	0×	0×	0×
P/S	1.69×	0.22×	0×	0×	0×
EV / EBITDA	6.64×	3.48×	4.59×	5.35×	9.28×
Gross margin	97.0%	60.5%	54.2%	46.6%	58.8%
Operating margin	29.4%	30.0%	21.3%	-4.7%	35.5%
Net margin	35.8%	16.1%	26.0%	-14.6%	22.2%
Current ratio	2.35×	1.23×	1.65×	2.42×	2.95×
Debt / equity	0.29×	0.45×	0.69×	0.62×	0.69×
Interest coverage	9.26×	6.07×	5.22×	-1.59×	25.01×
Dividend yield	0.3%	8.3%	4897.3%	697.1%	33.9%
Payout ratio	1.5%	11.3%	10.0%	-2.8%	0.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	13.4%	6.8%	11.9%	-7.3%	7.8%
Return on invested capital	5.9%	4.9%	4.0%	-1.0%	4.8%
Return on assets	7.4%	3.3%	5.0%	-2.8%	3.1%
Free cash flow yield	16.3%	137.3%	51429.1%	26124.5%	32042.9%
Earnings yield	21.2%	73.0%	49007.0%	-25263.3%	28551.3%
Enterprise value	€2.1B	€1.1B	€1.2B	€924.6M	€1.1B
Net debt / EBITDA	1.52×	2.81×	4.59×	5.35×	9.27×
Cash conversion cycle (days)	10,115	772	723	738	1,285