KARO Leather a.s. (KARIN.PR) 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

-1767.0%

-CZK 2,350.48

vs CZK 141.00 price

Levered DCF

-CZK 109.12

After debt service

Piotroski score

—

Altman Z-score

—

Rating

C-

Overall 1 / 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	0×	20×	-27.99×	-26.13×	-73.55×	-11.06×	-1,455.11×	0×
P/B	0×	0.72×	1.66×	1.11×	1.57×	0.95×	1.29×	0×
P/S	0×	1.87×	1.71×	2×	2.36×	1.03×	0×	0×
EV / EBITDA	1.82×	12.33×	129.25×	158.16×	119.37×	-472.6×	-1,346.85×	0×
Gross margin	41.6%	50.4%	18.6%	18.2%	22.2%	16.6%	0.0%	0.0%
Operating margin	20.8%	23.3%	3.0%	-0.4%	0.2%	-6.1%	0.0%	0.0%
Net margin	15.0%	9.4%	-6.1%	-7.6%	-3.2%	-9.3%	0.0%	0.0%
Current ratio	1.71×	2.35×	0.81×	1.22×	0.96×	1.33×	10,356×	0×
Debt / equity	0.31×	0.37×	0.39×	0.59×	1.06×	1.03×	0×	0×
Interest coverage	6.25×	2.34×	0.34×	-0.04×	0.03×	-2.8×	0×	0×
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	6.6%	3.6%	-5.9%	-4.2%	-2.1%	-8.6%	-0.1%	0.0%
Return on invested capital	5.4%	4.7%	1.8%	-0.1%	0.1%	-2.7%	-0.1%	0.0%
Return on assets	3.8%	2.5%	-2.4%	-1.8%	-0.7%	-3.4%	-0.1%	0.0%
Free cash flow yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings yield	0.0%	5.0%	-3.6%	-3.8%	-1.4%	-9.0%	-0.1%	0.0%
Enterprise value	CZK 200.6M	CZK 681.9M	CZK 651M	CZK 572.1M	CZK 548.5M	CZK 315.2M	CZK 130.6M	-CZK 2M
Net debt / EBITDA	1.82×	4.08×	22.05×	52.82×	44.94×	-234.22×	106.76×	0×
Cash conversion cycle (days)	748	578	345	889	943	558	-4	0