Nicolas Miguet (MLNMA.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

-34.2%

€0.11

vs €0.16 price

Levered DCF

€0.00

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	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-4.55×	-10.71×	-2.92×	-5.77×	-12.71×	-13.75×	29.67×	42.13×
P/B	0.3×	0.83×	2.18×	4.46×	5.91×	4.68×	5.48×	6.14×
P/S	3.82×	5.51×	16.72×	43.72×	29.38×	25.62×	13.04×	10.41×
EV / EBITDA	0×	3,284.46×	-1,593.16×	36,384.43×	-177.16×	-164.03×	-67.79×	85×
Gross margin	-66.3%	-13.2%	-168.4%	-16.1%	0.3%	3.9%	-22.7%	14.6%
Operating margin	-97.8%	-17.8%	-189.9%	-16.7%	-13.1%	-13.3%	-15.2%	1.7%
Net margin	-84.0%	-51.6%	-572.0%	-757.6%	-235.4%	-180.9%	44.6%	24.7%
Current ratio	0×	0×	0×	0×	0×	0×	0×	3.34×
Debt / equity	0.88×	0×	0×	0×	0×	0×	0×	0.15×
Interest coverage	0×	0×	0×	0×	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	1.7%	1.4%	0.8%	0.9%
Payout ratio	0.0%	0.0%	0.0%	0.0%	-21.0%	-19.3%	24.7%	38.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-6.5%	-7.8%	-74.6%	-77.2%	-47.4%	-33.0%	18.7%	14.6%
Return on invested capital	-3.3%	-1.3%	-13.3%	-0.8%	-1.7%	-1.5%	-3.3%	0.5%
Return on assets	-2.8%	-3.8%	-40.2%	-41.3%	-31.3%	-24.6%	12.9%	9.0%
Free cash flow yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings yield	-22.0%	-9.4%	-34.2%	-17.3%	-8.0%	-7.1%	3.4%	2.4%
Enterprise value	€268.8K	-€32.8K	€1.3M	€5.7M	€15.3M	€19M	€29.6M	€28.3M
Net debt / EBITDA	0×	85,040.2×	1,167.85×	-15,689.29×	47.11×	43.15×	21.18×	-23.59×
Cash conversion cycle (days)	6,667	0	0	0	0	70	14	28