Search companies

Find a company by ticker or name

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
+352.6%
€184.47
vs €40.76 price
Levered DCF
€168.27
After debt service
Piotroski score
8 / 9
Strong
Altman Z-score
1.27
Distress zone
Rating
A-
Overall 4 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E11.25×5.28×4.71×4.53×3.14×14.15×18.46×5.54×
P/B0.64×0.58×0.73×0.77×1×0.85×0.71×0.62×
P/S0.45×0.37×0.44×0.44×0.54×0.42×0.25×0.24×
EV / EBITDA10.62×7.08×5.85×5.87×7.54×11.31×14.71×9.55×
Gross margin16.9%19.6%23.0%22.7%22.9%16.6%16.9%19.8%
Operating margin3.7%8.4%11.5%11.9%11.2%0.0%2.3%5.9%
Net margin3.9%7.0%9.4%9.7%17.2%3.0%1.4%4.3%
Current ratio1.38×1.36×1.25×1.16×1.17×1.15×1.21×1.24×
Debt / equity1.07×1.22×1.19×1.31×1.75×2.4×2.64×2.24×
Interest coverage39.27×82.56×25.36×745.17×34.91×0×5.9×14.91×
Dividend yield6.9%10.2%8.3%8.1%2.0%1.9%7.9%9.7%
Payout ratio80.5%53.7%39.0%36.9%6.3%26.6%146.3%53.9%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity5.5%11.0%15.5%17.0%32.0%6.0%3.9%11.2%
Return on invested capital1.9%3.9%5.6%5.9%4.7%0.0%1.1%2.9%
Return on assets2.0%3.9%5.4%5.6%8.9%1.3%0.8%2.6%
Free cash flow yield20.9%16.8%9.3%20.4%27.6%32.3%1.6%-17.9%
Earnings yield8.6%18.9%21.3%22.1%31.8%7.1%5.4%18.0%
Enterprise value€147.7B€152.2B€160.6B€159.8B€175B€174.1B€186.7B€169.2B
Net debt / EBITDA6.31×4.57×3.41×3.46×4.42×7.98×11.25×7.28×
Cash conversion cycle (days)166172163161159219185178