LAMDA Development S.A. (LAMDA.AT) 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

-6417.9%

-€382.23

vs €6.05 price

Levered DCF

-€55.48

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.55

Distress zone

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	13.43×	27.07×	43.5×	-32.5×	6.4×	-24.48×	7.69×	5.48×
P/B	0.94×	1.03×	1.03×	0.88×	1.02×	1.25×	0.63×	1.18×
P/S	2.15×	1.91×	2.69×	7.2×	15.09×	18.45×	8.07×	5.27×
EV / EBITDA	7.96×	11.75×	14.81×	-79.42×	514.85×	59.66×	4.11×	7.77×
Gross margin	21.4%	46.7%	39.2%	17.8%	37.0%	52.8%	77.1%	80.2%
Operating margin	7.3%	27.8%	41.7%	79.4%	403.3%	20.3%	1.1%	0.9%
Net margin	15.9%	7.0%	6.0%	-22.1%	235.9%	-76.0%	60.8%	96.6%
Current ratio	42.69×	1.78×	0.97×	1.06×	2.35×	14.04×	4.01×	0.62×
Debt / equity	1.28×	1.12×	1.14×	1.16×	0.75×	0.89×	0.49×	1.26×
Interest coverage	0.47×	2.66×	2.6×	2.44×	5.55×	0.42×	0.03×	0.03×
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	6.9%	3.8%	2.3%	-2.7%	15.9%	-5.1%	4.7%	21.6%
Return on invested capital	0.6%	3.1%	2.4%	-3.2%	7.2%	0.6%	0.0%	0.0%
Return on assets	1.8%	1.0%	0.7%	-0.8%	5.2%	-2.4%	2.7%	7.3%
Free cash flow yield	-9.9%	14.0%	4.5%	-2.8%	-1.9%	-4.0%	-1.8%	-13.9%
Earnings yield	7.4%	3.6%	2.2%	-3.1%	15.6%	-4.1%	7.5%	18.3%
Enterprise value	€2.1B	€2B	€2.1B	€1.8B	€2B	€1.3B	€476.2M	€797.1M
Net debt / EBITDA	3.38×	4.29×	6.21×	-35.58×	193.44×	0.73×	-1.6×	3.69×
Cash conversion cycle (days)	185	27	-3	206	1,960	-212	-1,289	-1,027