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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
-112.1%
-€0.15
vs €1.20 price
Levered DCF
-€0.11
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
-22.95
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-2.91×-3.16×-27.84×-4.51×-6.01×-3.3×-19.23×143.26×
P/B-6.59×13.31×3.08×3.7×2.52×1.35×1.83×2.61×
P/S51.33×9.32×3.08×4.04×22.37×3.02×5.78×5.47×
EV / EBITDA-2.46×-1.62×-70.1×-2.59×-4.89×1.61×11.85×23.05×
Gross margin100.0%-252.4%10.8%12.1%-288.1%28.8%34.5%12.9%
Operating margin-2058.0%-408.6%-24.4%-49.6%-394.9%1.5%-39.2%6.4%
Net margin-1764.5%-391.9%-14.6%-117.1%-436.0%-91.7%-30.1%3.8%
Current ratio1.27×2.6×3.73×3.38×1.73×3.81×1.95×1.62×
Debt / equity-1.04×3.55×0.77×0.78×0.41×0.12×0.09×0.03×
Interest coverage-18.38×-12.97×-19.8×-85.52×-153.29×3.16×-131.97×8.09×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity226.6%-560.0%-14.6%-107.3%-49.2%-41.0%-9.5%1.8%
Return on invested capital-146.1%-51.5%-8.3%-14.6%-21.9%0.4%-9.6%2.0%
Return on assets-78.4%-44.5%-4.1%-28.0%-19.7%-20.8%-5.2%0.7%
Free cash flow yield-37.0%-6.2%-21.9%-10.1%-22.1%-29.9%-7.6%-7.8%
Earnings yield-34.4%-42.1%-4.7%-29.0%-19.5%-30.3%-5.2%0.7%
Enterprise value€137.5M€82.6M€128.9M€158.5M€211.5M€93.2M€214.6M€289.2M
Net debt / EBITDA0.1×0.69×16.7×0.68×1.38×-2.03×-10.17×-11.78×
Cash conversion cycle (days)99731271132292-80-166520