MFE-Mediaforeurope N.V. (MFEB.MI) 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

+1499.0%

€33.99

vs €2.13 price

Levered DCF

€50.25

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.15

Distress zone

Rating

A-

Overall 4 / 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	7.19×	119.92×	6.38×	4.64×	6.69×	21.96×	16.15×	-102.43×
P/B	0.63×	5.77×	4.61×	3.8×	9.43×	11.53×	12.41×	12.75×
P/S	0.55×	5.68×	4.75×	3.66×	8.77×	11.77×	10.63×	9.18×
EV / EBITDA	5.94×	21.82×	17.76×	12.8×	24.86×	37.6×	32.8×	29.09×
Gross margin	39.5%	35.2%	44.3%	32.7%	33.5%	23.5%	48.5%	45.2%
Operating margin	6.3%	11.0%	10.9%	10.1%	14.6%	10.3%	12.3%	2.2%
Net margin	7.5%	4.7%	7.5%	7.8%	13.1%	5.3%	6.6%	14.0%
Current ratio	0.79×	0.95×	1.15×	1.38×	1.05×	1.16×	0.88×	1.09×
Debt / equity	0.96×	0.3×	0.38×	0.53×	0.45×	0.58×	0.66×	0.48×
Interest coverage	6.03×	12.37×	7.28×	10.3×	13.53×	18.86×	10.98×	2.36×
Dividend yield	6.9%	0.8%	1.1%	1.3%	1.4%	0.0%	0.2%	0.3%
Payout ratio	50.4%	101.4%	67.0%	61.7%	91.4%	0.0%	24.5%	20.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.6%	4.8%	7.3%	8.1%	14.1%	5.2%	7.7%	19.4%
Return on invested capital	3.0%	4.9%	5.7%	5.0%	7.3%	4.1%	5.6%	1.2%
Return on assets	3.2%	2.9%	4.2%	4.0%	6.6%	2.3%	3.3%	8.9%
Free cash flow yield	45.9%	4.7%	5.5%	3.6%	2.0%	1.1%	1.2%	1.9%
Earnings yield	13.8%	0.8%	1.6%	2.1%	1.5%	0.5%	0.6%	1.5%
Enterprise value	€4.9B	€17.3B	€14.1B	€11B	€26B	€31.8B	€32.1B	€31.5B
Net debt / EBITDA	3.29×	0.92×	1.15×	1.05×	0.84×	1.28×	1.41×	0.71×
Cash conversion cycle (days)	-21	42	17	97	107	119	-16	-4