Lingotes Especiales, S.A. (LGT.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

-198.6%

-€5.34

vs €5.42 price

Levered DCF

-€6.08

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

1.68

Distress zone

Rating

Overall 2 / 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	-197.56×	33.16×	19.13×	17.06×	-80×	20.17×	15.57×	11.96×
P/B	1.11×	1.43×	1.33×	1.17×	2.75×	2.68×	2.93×	2.47×
P/S	0.61×	0.72×	0.63×	0.48×	1.4×	1.33×	1.18×	0.96×
EV / EBITDA	16.55×	9.23×	7.11×	7.36×	41.63×	10.01×	8.84×	7.21×
Gross margin	19.7%	56.8%	54.5%	53.1%	47.9%	54.1%	54.6%	55.1%
Operating margin	-1.8%	3.7%	5.0%	4.0%	-2.6%	9.5%	10.2%	11.1%
Net margin	-0.3%	2.1%	3.3%	2.8%	-1.7%	6.6%	7.6%	8.0%
Current ratio	1.01×	1.12×	1.15×	1.21×	1.02×	1.06×	1.12×	1.31×
Debt / equity	0.88×	0.81×	0.62×	0.53×	0.51×	0.54×	0.47×	0.52×
Interest coverage	-1.29×	3.26×	7.53×	10.84×	-6.8×	30.58×	42.82×	55.75×
Dividend yield	0.0%	6.3%	6.5%	0.0%	5.8%	0.0%	5.2%	6.4%
Payout ratio	0.0%	214.2%	123.9%	0.0%	-473.9%	0.0%	80.2%	76.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-0.6%	4.3%	7.0%	6.7%	-3.4%	13.2%	18.9%	20.7%
Return on invested capital	-0.7%	3.3%	4.9%	4.7%	-2.4%	9.1%	12.9%	13.9%
Return on assets	-0.2%	1.8%	3.3%	3.2%	-1.7%	5.8%	9.3%	10.0%
Free cash flow yield	0.2%	-13.6%	14.5%	1.6%	-3.8%	4.6%	6.0%	0.5%
Earnings yield	-0.5%	3.0%	5.3%	5.8%	-1.2%	4.9%	6.4%	8.4%
Enterprise value	€85.1M	€91M	€76.3M	€73.4M	€140.1M	€130.3M	€151M	€127M
Net debt / EBITDA	7.1×	2.84×	1.41×	1.88×	5.97×	0.72×	0.9×	0.97×
Cash conversion cycle (days)	43	85	-43	17	41	95	1	35