Irish Continental Group plc (IR5B.IR) 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

+208.7%

€24.57

vs €7.96 price

Levered DCF

€25.80

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.26

Safe 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	FY2020	FY2019	FY2018
P/E	12.81×	14.39×	12.03×	12.59×	-172.9×	-45×	15.13×	14.17×
P/B	3.41×	2.65×	2.61×	2.92×	3.39×	3.15×	3.19×	3.19×
P/S	1.45×	1.41×	1.29×	1.3×	2.53×	3.03×	2.57×	2.45×
EV / EBITDA	8.12×	7.52×	6.56×	7.32×	18.86×	32.18×	10.29×	10.79×
Gross margin	12.9%	84.9%	73.8%	26.0%	78.1%	78.6%	83.0%	86.4%
Operating margin	12.9%	11.4%	12.0%	11.4%	-0.1%	-3.8%	18.2%	18.2%
Net margin	11.2%	9.9%	10.8%	10.2%	-1.5%	-6.9%	16.8%	17.5%
Current ratio	0.59×	1.03×	0.55×	1.06×	0.98×	1.23×	2.91×	3.96×
Debt / equity	1.03×	0.63×	0.67×	0.81×	0.72×	0.9×	0.83×	0.81×
Interest coverage	8.44×	8.13×	10.52×	15.51×	-0.05×	-1.33×	18.54×	60×
Dividend yield	2.6%	2.9%	3.3%	3.2%	0.0%	0.0%	2.7%	2.9%
Payout ratio	34.0%	41.2%	39.6%	40.5%	0.0%	0.0%	41.0%	40.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	26.4%	18.6%	21.8%	22.9%	-2.0%	-7.1%	20.9%	22.9%
Return on invested capital	14.3%	12.5%	13.9%	13.4%	-0.0%	-2.0%	11.9%	12.6%
Return on assets	10.5%	9.4%	10.7%	10.4%	-1.0%	-3.3%	10.2%	11.2%
Free cash flow yield	5.0%	11.9%	10.5%	6.7%	0.2%	1.9%	3.3%	-14.2%
Earnings yield	7.7%	7.0%	8.4%	7.9%	-0.6%	-2.3%	6.6%	7.2%
Enterprise value	€1.2B	€1B	€879.5M	€932M	€988M	€926.8M	€1B	€888M
Net debt / EBITDA	1.7×	1.2×	1.07×	1.34×	2.71×	3.08×	1.27×	0.98×
Cash conversion cycle (days)	-31	-339	-79	14	-81	-79	-122	-299