izertis, S.A. (IZER.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

+228.2%

€24.22

vs €7.38 price

Levered DCF

€67.46

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.7

Distress zone

Rating

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	75×	60.62×	45.9×	51.5×	79.8×	130.22×	479.65×	205.3×
P/B	3.15×	3.02×	3.12×	3.95×	5.4×	7.34×	7.41×	14.69×
P/S	1.82×	1.91×	1.93×	2.16×	2.78×	3.35×	2.48×	3.12×
EV / EBITDA	15.84×	15.93×	15.98×	18.91×	24.09×	27.66×	33.48×	40.7×
Gross margin	30.8%	31.8%	31.8%	29.1%	26.6%	26.3%	25.4%	66.0%
Operating margin	7.5%	7.6%	8.3%	7.1%	5.6%	7.4%	2.1%	3.4%
Net margin	2.4%	3.2%	4.3%	4.3%	3.6%	2.6%	0.5%	1.5%
Current ratio	1.19×	1.44×	1.17×	1.45×	1.9×	1.59×	1.07×	1.2×
Debt / equity	1.31×	1.13×	1.24×	1.44×	1.33×	0.95×	1.2×	1.8×
Interest coverage	2.26×	1.93×	2.41×	3.27×	3.8×	6.21×	2.55×	7.97×
Dividend yield	0.0%	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%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.1%	5.1%	6.9%	7.9%	7.0%	5.6%	1.5%	7.2%
Return on invested capital	3.6%	4.6%	5.3%	4.7%	3.7%	5.5%	1.5%	3.1%
Return on assets	1.4%	2.0%	2.6%	2.6%	2.3%	2.1%	0.5%	1.9%
Free cash flow yield	8.6%	2.1%	4.5%	3.9%	1.2%	3.3%	1.8%	-0.8%
Earnings yield	1.3%	1.7%	2.2%	2.0%	1.3%	0.8%	0.2%	0.5%
Enterprise value	€362.7M	€317.5M	€287.1M	€225.3M	€187.6M	€176.9M	€129.2M	€127.9M
Net debt / EBITDA	2.99×	3.15×	3.38×	2.85×	0.86×	1.1×	3.72×	4.22×
Cash conversion cycle (days)	70	89	73	79	49	45	76	54