Impero A/S (IMPERO.CO) 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

+223.1%

DKK 22.13

vs DKK 6.85 price

Levered DCF

-DKK 33.45

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

4.55

Safe zone

Rating

C+

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
P/E	-24.31×	-11.67×	-7.68×	-5.18×	-15.34×	-98.12×	-56.69×
P/B	10.93×	21.62×	6.67×	5.81×	9.36×	85.63×	220.74×
P/S	4.01×	3.76×	3.63×	4.82×	16.33×	46.79×	192.02×
EV / EBITDA	-46.94×	-11.05×	-6.71×	-4.72×	-14.79×	-137.73×	-67.5×
Gross margin	40.1%	53.0%	57.4%	33.8%	22.0%	42.9%	50.5%
Operating margin	-15.6%	-32.9%	-47.6%	-95.5%	-107.6%	-52.9%	-332.9%
Net margin	-16.3%	-32.3%	-46.9%	-93.1%	-106.1%	-47.4%	-336.2%
Current ratio	1.12×	0.81×	1.28×	1.62×	2.71×	1.08×	0.7×
Debt / equity	0×	0×	0×	0×	0×	0.13×	0.11×
Interest coverage	-33.32×	-96.31×	-160.34×	-82.53×	-63×	-77.62×	-25.49×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-44.3%	-185.9%	-86.3%	-112.2%	-60.8%	-86.8%	-386.4%
Return on invested capital	-42.6%	-189.2%	-87.6%	-111.2%	-59.9%	-76.1%	-334.8%
Return on assets	-16.5%	-41.9%	-37.4%	-60.5%	-42.1%	-27.3%	-88.7%
Free cash flow yield	-4.0%	-3.0%	-10.7%	-21.6%	-5.9%	-1.0%	0.5%
Earnings yield	-4.1%	-8.6%	-12.9%	-19.3%	-6.5%	-1.0%	-1.8%
Enterprise value	DKK 149.6M	DKK 123.3M	DKK 85.2M	DKK 80.6M	DKK 219M	DKK 458.1M	DKK 461.2M
Net debt / EBITDA	5.92×	0.88×	1.17×	0.89×	1.86×	1.47×	0.25×
Cash conversion cycle (days)	57	32	77	113	22	169	264