Moltiply Group S.p.A. (MOL.MI) 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

+118.2%

€77.14

vs €35.35 price

Levered DCF

€85.17

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.24

Grey zone

Rating

B+

Overall 3 / 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	46.27×	32.75×	34.3×	21.23×	103.02×	10.19×	18.74×	18.47×
P/B	3.98×	4.69×	3.63×	3.68×	6.39×	5.62×	6.7×	7.63×
P/S	1.96×	2.92×	2.94×	3.2×	5.39×	5.05×	3.4×	3.37×
EV / EBITDA	9.67×	12.77×	14.89×	13.04×	19.69×	18.03×	12.53×	12.84×
Gross margin	16.6%	28.3%	50.2%	77.5%	80.2%	78.5%	77.0%	75.3%
Operating margin	15.3%	15.7%	13.2%	21.4%	22.0%	24.3%	22.9%	24.9%
Net margin	4.2%	8.9%	8.6%	15.1%	5.2%	49.5%	18.2%	18.2%
Current ratio	1.29×	0.94×	1.4×	2.36×	2.36×	1.01×	1.62×	1.43×
Debt / equity	1.6×	1.16×	1.19×	1.56×	0.65×	0.56×	0.91×	1.16×
Interest coverage	3.95×	111.28×	31.31×	365.62×	1,189.03×	612.57×	268.63×	305.28×
Dividend yield	0.3%	0.3%	0.4%	1.5%	0.9%	0.3%	1.5%	2.0%
Payout ratio	15.7%	10.8%	12.9%	32.5%	94.8%	3.5%	28.0%	36.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.6%	14.3%	10.6%	17.3%	6.2%	55.1%	35.8%	41.2%
Return on invested capital	5.7%	7.6%	4.6%	6.2%	3.7%	14.6%	14.5%	16.1%
Return on assets	2.2%	4.4%	3.6%	5.3%	2.7%	20.5%	12.3%	12.0%
Free cash flow yield	7.6%	7.1%	7.3%	5.8%	-0.1%	7.9%	5.1%	5.8%
Earnings yield	2.2%	3.0%	2.9%	4.7%	1.0%	9.8%	5.3%	5.4%
Enterprise value	€1.7B	€1.6B	€1.4B	€1.1B	€1.7B	€1.3B	€821.8M	€650.6M
Net debt / EBITDA	2.22×	1.63×	2.48×	1.73×	0.06×	0.12×	1.03×	0.53×
Cash conversion cycle (days)	51	45	31	-71	-87	-141	-41	-42