ImAlliance S.A. (MLIML.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

-218.3%

-€0.48

vs €0.41 price

Levered DCF

€0.22

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	FY2017	FY2016
P/E	-8.89×	-3.83×	91.76×	2.41×	-6.89×	-3.72×	2.45×	-1.83×
P/B	-4.54×	-6.85×	5.7×	2.38×	296.78×	4.67×	21.73×	-3.24×
P/S	0.6×	0.39×	0.2×	0.07×	0.17×	0.12×	0.19×	0.31×
EV / EBITDA	-11.95×	-5.52×	19.57×	3.51×	-61.17×	-10.66×	2.24×	-3.57×
Gross margin	-3.6%	-6.7%	0.3%	4.7%	0.4%	-1.1%	95.9%	95.9%
Operating margin	-6.1%	-9.4%	-2.0%	2.9%	-2.3%	-3.1%	8.6%	-13.4%
Net margin	-6.8%	-10.0%	0.2%	3.1%	-2.5%	-3.2%	8.0%	-16.7%
Current ratio	0.4×	0.51×	0.89×	1.04×	1.03×	0.55×	0.56×	0.37×
Debt / equity	-0.61×	-1.99×	3.61×	4.3×	349.78×	1.12×	9.51×	-1.33×
Interest coverage	-144.75×	-179.24×	-57.1×	45.97×	-17.62×	-22.26×	46.81×	-11.68×
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	FY2017	FY2016
Return on equity	51.1%	175.3%	6.2%	98.7%	-4307.4%	-125.4%	918.8%	176.1%
Return on invested capital	118.0%	-166.7%	-12.9%	16.2%	-10.6%	-43.5%	86.5%	-322.3%
Return on assets	-19.1%	-32.2%	0.6%	7.4%	-4.4%	-9.4%	24.2%	-43.0%
Free cash flow yield	0.0%	0.0%	12.0%	32.4%	21.7%	30.9%	0.0%	0.0%
Earnings yield	-11.2%	-25.6%	1.1%	41.5%	-14.5%	-26.9%	42.3%	-54.3%
Enterprise value	€3.3M	€2.7M	€2M	€1.1M	€1.6M	€684.3K	€1.5M	€1.8M
Net debt / EBITDA	-1.06×	-0.99×	5.78×	1.81×	-26.62×	-0.91×	0.4×	-0.59×
Cash conversion cycle (days)	0	20	39	47	69	14	-630	-1,135