Mangata Holding S.A. (MGT.WA) 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

+195.7%

PLN 179.18

vs PLN 60.60 price

Levered DCF

PLN 143.05

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

2.3

Grey 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	9.62×	13.17×	11×	5.53×	7.51×	12.52×	9.86×	7.08×
P/B	0.74×	0.74×	1.14×	0.95×	1.1×	0.98×	1.18×	0.99×
P/S	0.52×	0.51×	0.67×	0.49×	0.67×	0.75×	0.72×	0.55×
EV / EBITDA	6.5×	6.52×	6.28×	4.24×	5.14×	6.92×	6.55×	5.47×
Gross margin	19.2%	20.0%	20.9%	24.3%	24.6%	20.4%	22.7%	22.2%
Operating margin	4.7%	5.3%	8.9%	12.2%	11.6%	7.1%	9.5%	9.0%
Net margin	5.4%	3.8%	6.1%	8.9%	8.9%	6.0%	7.3%	7.8%
Current ratio	1.54×	1.82×	1.94×	1.91×	1.5×	1.7×	1.56×	1.59×
Debt / equity	0.32×	0.45×	0.32×	0.36×	0.35×	0.35×	0.41×	0.43×
Interest coverage	3.78×	3.58×	7.97×	12.1×	28.33×	9.61×	19.56×	19.54×
Dividend yield	9.2%	11.4%	9.0%	6.3%	5.7%	0.2%	6.2%	16.4%
Payout ratio	88.1%	150.8%	98.9%	35.1%	42.8%	1.9%	60.8%	115.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.7%	5.6%	10.3%	17.1%	14.7%	7.8%	12.0%	14.0%
Return on invested capital	4.7%	4.3%	9.0%	13.3%	10.8%	5.5%	8.6%	9.4%
Return on assets	4.8%	3.3%	6.3%	10.0%	8.2%	4.6%	6.7%	7.6%
Free cash flow yield	25.2%	6.0%	14.2%	6.4%	5.6%	11.3%	12.4%	8.9%
Earnings yield	10.4%	7.6%	9.1%	18.1%	13.3%	8.0%	10.1%	14.1%
Enterprise value	PLN 533.3M	PLN 600.5M	PLN 772.3M	PLN 687.3M	PLN 664M	PLN 541.7M	PLN 619.7M	PLN 519.6M
Net debt / EBITDA	1.62×	2.24×	1.2×	1.05×	1.06×	1.5×	1.4×	1.39×
Cash conversion cycle (days)	112	127	94	104	96	92	82	82