Lotus Bakeries N.V. (LOTB.BR) 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

-79.0%

€2,877.42

vs €13,700.00 price

Levered DCF

€3,270.58

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

10.91

Safe zone

Rating

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	37.02×	57.36×	51.85×	49.64×	49.98×	36.07×	27.92×	25.83×
P/B	7.42×	11.06×	10.21×	8.96×	8.73×	6.87×	5.2×	4.98×
P/S	4.71×	7.1×	6.3×	5.84×	6.05×	4.49×	3.41×	3.11×
EV / EBITDA	24.72×	36.77×	33.5×	32.73×	32.39×	24.39×	18.85×	17.63×
Gross margin	17.5%	39.0%	39.2%	17.0%	17.6%	17.0%	17.2%	39.4%
Operating margin	17.2%	16.8%	16.2%	15.6%	16.0%	15.7%	16.4%	17.1%
Net margin	12.7%	12.4%	12.1%	11.8%	12.1%	12.5%	12.2%	12.0%
Current ratio	1.49×	1.18×	1.55×	1.07×	1.65×	1.49×	1.01×	1×
Debt / equity	0.36×	0.36×	0.44×	0.47×	0.45×	0.49×	0.48×	0.44×
Interest coverage	70.45×	46.45×	42.87×	43.81×	41.7×	35.52×	30.31×	38.59×
Dividend yield	1.0%	0.5%	0.5%	0.6%	0.6%	0.9%	1.1%	0.9%
Payout ratio	35.8%	30.8%	28.2%	31.8%	31.7%	31.4%	31.6%	24.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	20.0%	19.3%	19.7%	18.0%	17.5%	19.0%	18.6%	19.3%
Return on invested capital	14.1%	13.6%	13.2%	11.6%	11.3%	11.7%	11.4%	12.7%
Return on assets	11.2%	11.0%	10.4%	9.4%	9.1%	9.8%	9.2%	9.4%
Free cash flow yield	1.5%	0.7%	1.3%	-0.3%	1.5%	2.8%	1.7%	1.4%
Earnings yield	2.7%	1.7%	1.9%	2.0%	2.0%	2.8%	3.6%	3.9%
Enterprise value	€6.6B	€8.9B	€6.9B	€5.3B	€4.6B	€3.1B	€2.2B	€1.8B
Net debt / EBITDA	0.72×	0.78×	0.78×	1.17×	0.73×	1.02×	1.3×	1.03×
Cash conversion cycle (days)	6	11	-0	-5	6	19	16	0