Immo Moury SCA (IMMOU.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

+407.0%

€154.11

vs €30.40 price

Levered DCF

€141.22

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.59

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	11.97×	18.55×	29.58×	7.74×	6.17×	15.56×	20.46×	21.2×
P/B	0.59×	0.56×	0.52×	0.7×	0.76×	0.93×	0.9×	0.91×
P/S	5.17×	4.14×	3.72×	6.55×	13.21×	9.37×	8.24×	8.49×
EV / EBITDA	19.93×	24.55×	31.41×	14.91×	10×	19.89×	21.43×	21.79×
Gross margin	66.0%	69.9%	66.8%	57.6%	44.3%	59.4%	64.7%	66.0%
Operating margin	51.0%	56.3%	55.4%	42.2%	53.2%	64.4%	52.6%	50.7%
Net margin	43.3%	22.3%	12.5%	84.6%	214.2%	60.2%	40.3%	39.9%
Current ratio	0.11×	0.13×	0.11×	0.17×	0.03×	0.02×	0.02×	0.09×
Debt / equity	0.84×	0.88×	0.89×	0.87×	0.56×	0.44×	0.21×	0.18×
Interest coverage	3.21×	3.19×	3.33×	3.59×	4.14×	17.36×	22.79×	18.07×
Dividend yield	5.4%	6.5%	6.3%	4.5%	4.1%	4.5%	5.1%	5.0%
Payout ratio	64.3%	120.9%	188.2%	35.0%	25.6%	70.5%	104.9%	106.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.9%	3.0%	1.7%	9.0%	12.4%	6.0%	4.4%	4.3%
Return on invested capital	3.0%	3.8%	3.6%	2.4%	1.9%	5.8%	5.3%	5.3%
Return on assets	2.7%	1.6%	0.9%	4.7%	7.7%	4.1%	3.6%	3.5%
Free cash flow yield	10.8%	13.7%	12.8%	5.1%	22.6%	-3.8%	3.8%	7.4%
Earnings yield	8.4%	5.4%	3.4%	12.9%	16.2%	6.4%	4.9%	4.7%
Enterprise value	€37.2M	€36.2M	€35.6M	€41.1M	€34.6M	€31.7M	€25.4M	€24.9M
Net debt / EBITDA	11.63×	14.93×	19.83×	8.24×	4.21×	6.26×	3.94×	3.26×
Cash conversion cycle (days)	26	26	24	26	53	335	45	-57