Lumibird S.A. (LBIRD.PA) 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

-90.4%

€2.30

vs €23.95 price

Levered DCF

€6.13

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.5

Grey zone

Rating

B-

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	34.19×	36×	38.06×	32.47×	38.79×	56.16×	29.23×	21.57×
P/B	2.31×	1.04×	1.4×	1.92×	2.98×	1.9×	2.05×	1.91×
P/S	2.08×	0.98×	1.31×	1.91×	3.32×	2.41×	2.27×	1.71×
EV / EBITDA	12.66×	9.54×	13.19×	13.22×	17.44×	17.8×	11.65×	10.59×
Gross margin	64.0%	7.6%	62.0%	7.9%	11.4%	10.2%	60.7%	60.4%
Operating margin	11.2%	5.5%	5.9%	8.9%	12.2%	6.7%	10.9%	11.2%
Net margin	6.1%	2.7%	3.4%	5.8%	8.5%	4.4%	7.8%	7.9%
Current ratio	2.47×	2.63×	2.66×	1.56×	3.16×	2.83×	3.01×	2.19×
Debt / equity	0.71×	0.81×	0.75×	0.59×	0.62×	0.54×	0.26×	0.27×
Interest coverage	4.5×	1.85×	2.91×	5.16×	8.75×	6.25×	17.01×	19.44×
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	6.8%	2.9%	3.7%	5.9%	7.6%	3.4%	7.1%	8.9%
Return on invested capital	5.2%	2.7%	3.3%	4.3%	5.1%	2.6%	7.4%	9.0%
Return on assets	3.3%	1.3%	1.8%	3.1%	4.0%	1.8%	4.6%	5.3%
Free cash flow yield	2.7%	5.5%	-1.8%	-7.5%	1.2%	0.2%	3.2%	0.6%
Earnings yield	2.9%	2.8%	2.6%	3.1%	2.6%	1.8%	3.4%	4.6%
Enterprise value	€560.9M	€295.9M	€360.2M	€424.3M	€554.7M	€319.6M	€237.8M	€176.8M
Net debt / EBITDA	1.91×	2.9×	3.25×	1.64×	0.47×	0.44×	-0.89×	0.18×
Cash conversion cycle (days)	374	212	389	196	173	174	209	200