Mincon Group plc (MIO.IR) 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

+16.9%

€1.09

vs €0.93 price

Levered DCF

€0.52

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

3.81

Safe 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	21.15×	45.3×	18.86×	14.39×	19.07×	17.26×	19.52×	19.84×
P/B	0.78×	0.52×	0.91×	1.38×	1.93×	1.85×	1.92×	2.33×
P/S	0.79×	0.55×	0.9×	1.25×	1.93×	1.89×	1.94×	2.29×
EV / EBITDA	7.2×	6.16×	7.99×	8.4×	11.31×	10.25×	11.95×	13.23×
Gross margin	29.9%	27.9%	29.0%	31.8%	33.8%	35.2%	33.2%	38.6%
Operating margin	7.3%	5.3%	7.8%	11.6%	12.5%	14.0%	10.6%	14.4%
Net margin	3.7%	1.2%	4.8%	8.6%	10.1%	10.9%	10.0%	11.5%
Current ratio	3.32×	3.68×	3.55×	3.28×	3.4×	3.92×	4.22×	3.72×
Debt / equity	0.23×	0.25×	0.26×	0.27×	0.24×	0.16×	0.12×	0.06×
Interest coverage	5.42×	3.08×	4.97×	13.35×	19.53×	21.29×	22.63×	138.8×
Dividend yield	3.8%	5.6%	3.2%	2.1%	2.4%	0.9%	1.8%	1.6%
Payout ratio	80.8%	252.7%	59.7%	30.3%	45.8%	15.6%	35.9%	32.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	3.7%	1.2%	4.8%	9.6%	10.1%	10.7%	9.9%	11.7%
Return on invested capital	4.3%	2.4%	5.2%	7.7%	8.0%	9.5%	8.0%	11.2%
Return on assets	2.7%	0.8%	3.4%	6.5%	7.0%	7.9%	7.4%	9.0%
Free cash flow yield	4.6%	6.2%	8.6%	0.2%	0.8%	4.5%	1.3%	-4.1%
Earnings yield	4.7%	2.2%	5.3%	6.9%	5.2%	5.8%	5.1%	5.0%
Enterprise value	€138.7M	€102.5M	€160.4M	€237.7M	€293.8M	€250.1M	€239.1M	€268.6M
Net debt / EBITDA	1.14×	1.36×	0.98×	0.92×	0.59×	0.19×	-0.07×	-0.04×
Cash conversion cycle (days)	276	266	244	197	244	243	227	253