LESS S.a. (LES.WA) 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

-98.9%

PLN 0.00

vs PLN 0.15 price

Levered DCF

PLN 0.00

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

2.25

Grey 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	-31.94×	-16.26×	-12.18×	-3.71×	-34.07×	-2.15×	-0.8×	-1.38×
P/B	17.26×	-7.9×	-13.68×	39.18×	26.4×	7.27×	1.44×	1.04×
P/S	0×	0×	0×	224.92×	2,452.31×	477.01×	0×	0.2×
EV / EBITDA	-27.36×	-27.27×	-36.15×	-23.86×	-37.85×	-2.07×	-4.64×	1.38×
Gross margin	0.0%	0.0%	0.0%	-670.2%	100.0%	-484.0%	0.0%	4.1%
Operating margin	0.0%	0.0%	0.0%	-1444.2%	-4697.1%	-22656.0%	0.0%	1.4%
Net margin	0.0%	0.0%	0.0%	-6174.4%	-7194.2%	-23352.0%	0.0%	-14.7%
Current ratio	1.17×	0.07×	0.14×	0.54×	1.65×	0.35×	0.7×	0.96×
Debt / equity	0×	-0.97×	-0.82×	1.96×	0.09×	0.9×	0.7×	0.56×
Interest coverage	-10.35×	-5.03×	-5.41×	-34.88×	-284.59×	-283.2×	-34.37×	1.46×
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	-53.8%	48.4%	473.6%	-1075.6%	-77.5%	-355.8%	-179.7%	-75.5%
Return on invested capital	-61.0%	897.9%	583.8%	-83.2%	-46.2%	-47.1%	-27.2%	4.2%
Return on assets	-7.7%	-758.4%	-2636.6%	-245.3%	-46.0%	-26.6%	-61.9%	-28.4%
Free cash flow yield	-5.9%	-6.2%	-16.3%	-26.7%	-2.5%	-11.1%	-55.3%	8.5%
Earnings yield	-3.1%	-6.1%	-34.6%	-27.5%	-2.9%	-49.0%	-124.9%	-72.3%
Enterprise value	PLN 31.4M	PLN 29M	PLN 24.4M	PLN 66.2M	PLN 246.1M	PLN 11.8M	PLN 26.5M	PLN 52.2M
Net debt / EBITDA	0.44×	-2.93×	-1.96×	-0.76×	1.01×	0.02×	-1.38×	0.44×
Cash conversion cycle (days)	0	0	-75	91	503	81,996	-4,270	-5