NBI Bearings Europe, S.A. (NBI.MC) 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

-98.6%

€0.04

vs €3.08 price

Levered DCF

-€3.30

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.54

Distress zone

Rating

Overall 2 / 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	-35.64×	26.67×	52.7×	41.82×	125.26×	116.06×	79.22×	21.38×
P/B	2.04×	2.49×	3.25×	3.12×	4.67×	3.54×	3.23×	3.45×
P/S	0.73×	0.91×	1.14×	1.2×	1.64×	2.2×	2.02×	1.69×
EV / EBITDA	6.8×	9.32×	10.31×	10.67×	14.5×	25.56×	10.87×	9.22×
Gross margin	22.1%	51.1%	51.3%	51.6%	52.7%	55.7%	54.7%	49.8%
Operating margin	5.6%	6.8%	5.1%	6.3%	4.8%	3.0%	15.1%	11.2%
Net margin	-2.0%	3.5%	2.2%	2.8%	1.3%	1.9%	11.9%	7.8%
Current ratio	2.12×	2.8×	1.92×	2.43×	2.72×	3.09×	3.85×	3.58×
Debt / equity	1.77×	1.89×	1.9×	2.72×	2.07×	2.91×	1.22×	1.27×
Interest coverage	1.15×	1.36×	1.68×	3.43×	2.9×	2.04×	10.65×	9.14×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	2.1%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	44.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-5.7%	9.6%	6.2%	7.3%	3.7%	3.1%	19.1%	16.0%
Return on invested capital	3.7%	3.6%	2.9%	2.4%	1.4%	0.8%	7.9%	6.2%
Return on assets	-1.1%	1.9%	1.3%	1.5%	0.7%	0.6%	6.2%	4.6%
Free cash flow yield	11.2%	-3.7%	-10.6%	-5.0%	0.6%	0.9%	-0.4%	8.5%
Earnings yield	-2.8%	3.9%	1.9%	2.3%	0.8%	0.9%	5.9%	4.6%
Enterprise value	€50.8M	€74M	€85.2M	€79.9M	€84M	€79.1M	€53.4M	€45.3M
Net debt / EBITDA	2.12×	3.27×	3.05×	3.27×	2.21×	8.55×	1.16×	1.01×
Cash conversion cycle (days)	203	309	212	194	151	371	414	268