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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
-71.1%
€1.72
vs €5.95 price
Levered DCF
€1.72
After debt service
Piotroski score
4 / 9
Average
Altman Z-score
6.44
Safe zone
Rating
B-
Overall 3 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-8.37×-65.36×-22.3×19.11×102.76×2.15×-41.27×-4.95×
P/B1.5×0.85×0.92×0.88×1.37×0.67×1.23×1.42×
P/S0×0×0×0×0×4.59×5.97×6.01×
EV / EBITDA0×337.67×-355.75×5.88×204.78×2.29×131.47×-5.95×
Gross margin0.0%0.0%0.0%0.0%0.0%24.9%21.5%10.8%
Operating margin0.0%0.0%0.0%0.0%0.0%-13.9%-49.3%-67.4%
Net margin0.0%0.0%0.0%0.0%0.0%213.9%-15.5%-121.8%
Current ratio16.13×62.6×35.8×291.83×14.58×1.86×2.24×2.04×
Debt / equity0×0×0×0×0×0.2×0.41×0.45×
Interest coverage-4.5×-12.5×-19.5×-19×-1.86×-2.38×-5.21×-8.83×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity-17.9%-1.3%-4.1%4.6%17.3%31.3%-3.2%-28.8%
Return on invested capital-6.6%-1.3%-3.4%-1.3%-0.2%-1.5%-5.4%-10.0%
Return on assets-16.4%-1.3%-3.9%4.5%16.6%23.7%-2.0%-17.5%
Free cash flow yield-1.6%-0.8%-3.2%-2.9%-2.1%-2.7%-3.3%-8.0%
Earnings yield-11.9%-1.5%-4.5%5.2%12.6%46.6%-2.6%-20.3%
Enterprise value€44.9M€101.3M€71.2M€75.2M€266.2M€228.7M€249.8M€253.6M
Net debt / EBITDA0×-207×146×-13.58×-25.08×0.41×21.79×-0.59×
Cash conversion cycle (days)0000-365117140116