Laiqon AG (LQAG.DE) 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

-241.1%

-€6.25

vs €4.43 price

Levered DCF

-€3.34

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

0.82

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
P/E	-5.46×	-11.95×	-8.97×	-11.61×	38.69×	-117.05×	-513×
P/B	2.03×	1.27×	1.98×	1.78×	4.65×	2.17×	0×
P/S	3.04×	2.95×	3.57×	5.49×	7.7×	2.97×	0×
EV / EBITDA	-64.17×	-57.11×	-17.08×	-10.4×	59.66×	11.37×	-16.32×
Gross margin	37.3%	27.9%	22.2%	12.1%	51.3%	57.3%	0.0%
Operating margin	-41.1%	-33.2%	-36.0%	-67.9%	2.6%	11.6%	0.0%
Net margin	-55.8%	-24.6%	-40.1%	-47.1%	19.7%	-2.5%	0.0%
Current ratio	5.28×	2×	1.03×	0.98×	1.15×	1.14×	0×
Debt / equity	0.79×	0.47×	0.69×	0.28×	0.41×	0.5×	0×
Interest coverage	-2.33×	-2.36×	-1.1×	-5×	0.07×	0.43×	-0.59×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-37.2%	-10.6%	-22.2%	-15.3%	11.9%	-1.9%	0.0%
Return on invested capital	-10.1%	-5.2%	-5.6%	-8.0%	0.7%	-1.2%	0.0%
Return on assets	-13.6%	-5.7%	-8.5%	-7.3%	4.4%	-0.6%	0.0%
Free cash flow yield	-6.6%	-6.0%	-11.0%	-3.4%	9.3%	-2.6%	-15.5%
Earnings yield	-18.4%	-8.3%	-11.2%	-8.6%	2.6%	-0.9%	-22.5%
Enterprise value	€143.9M	€111.8M	€141M	€126.8M	€202.6M	€94.7M	€52.4M
Net debt / EBITDA	-16.27×	-10.31×	-3.78×	-0.69×	0.45×	1.49×	0×
Cash conversion cycle (days)	71	82	23	-11	-21	148	0