Hopening S.A. (MLHPE.PA) 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

+152.4%

€10.35

vs €4.10 price

Levered DCF

-€5.07

After debt service

Piotroski score

—

Altman Z-score

—

Rating

—

Ratios by fiscal year

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

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
P/E	0×	13.26×	2.75×	3.01×	5.1×	35.12×	87.86×	235.73×
P/B	0×	3.33×	2.56×	2.48×	1.88×	1.56×	2.44×	3.37×
P/S	0×	0.39×	0.22×	0.15×	0.1×	0.08×	0.11×	0.18×
EV / EBITDA	-0.4×	8.74×	4.98×	2.69×	6.91×	5.84×	8.18×	14.55×
Gross margin	32.3%	30.9%	-10.1%	-11.0%	42.8%	40.0%	34.2%	37.7%
Operating margin	0.4%	1.7%	2.9%	1.7%	0.6%	3.4%	-0.6%	0.5%
Net margin	2.3%	2.9%	2.6%	1.0%	0.6%	0.2%	0.1%	0.1%
Current ratio	0.88×	0.95×	1.31×	1.54×	1.55×	1.41×	0.86×	0.87×
Debt / equity	0.69×	1.19×	1.78×	2.48×	3.27×	0.77×	1.11×	1.59×
Interest coverage	0.8×	8.49×	17.53×	12.78×	4.08×	12.05×	-0.45×	1.02×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Return on equity	17.9%	24.9%	29.8%	16.8%	11.6%	4.4%	2.8%	1.4%
Return on invested capital	1.3%	6.7%	8.8%	3.8%	1.4%	8.3%	34.3%	3.4%
Return on assets	3.6%	4.3%	3.6%	1.2%	0.7%	0.3%	0.2%	0.1%
Free cash flow yield	0.0%	0.0%	-32.8%	10.7%	0.0%	0.0%	0.0%	0.0%
Earnings yield	0.0%	7.5%	11.6%	6.8%	6.2%	2.8%	1.1%	0.4%
Enterprise value	-€232K	€6.1M	€3.3M	€855K	€1.1M	€589.3K	€1.5M	€1.7M
Net debt / EBITDA	-0.4×	-0.25×	-0.54×	-5.02×	-2.67×	-5.37×	0.05×	-2.37×
Cash conversion cycle (days)	-44	-47	41	30	-25	-65	36	-143