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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
-988.2%
-€0.02
vs €0.00 price
Levered DCF
-€0.02
After debt service
Piotroski score
5 / 9
Average
Altman Z-score
0.74
Distress zone
Rating
A-
Overall 4 / 5
Ratios by fiscal year

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

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E78×-0×-0.35×-2.35×2.75×-2.57×-0.53×-0.67×
P/B1.79×-0×-1.63×10.7×-15.29×-0.46×-0.78×102.17×
P/S4.69×0×1.61×2.97×9.93×1.95×4.88×1.6×
EV / EBITDA9.99×-4.44×-1.8×-9.93×5.6×73.24×-7.43×-1.88×
Gross margin87.6%90.6%79.5%19.5%90.3%1.8%-157.8%-153.1%
Operating margin10.9%-94.5%-443.0%-176.3%-168.3%-85.7%-1073.5%-214.2%
Net margin4.9%-127.7%-453.5%-125.3%361.5%-75.9%-893.7%-236.4%
Current ratio2.07×0.46×0.82×0.78×0.4×0.32×0.39×2.29×
Debt / equity0.35×-3.64×-6.36×12.45×-20.39×-1.32×-1.37×102.14×
Interest coverage0.3×-3.06×-14.43×-5.79×-5.19×-33.85×0×-19×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity1.9%113.6%461.7%-452.1%-556.7%17.8%142.1%-15123.3%
Return on invested capital0.8%-22.3%-48.0%-30.0%-9.5%-17.0%-105.1%-68.2%
Return on assets0.7%-14.7%-34.3%-14.3%16.0%-10.6%-65.0%-58.0%
Free cash flow yield-29.8%-42355.0%9.1%6.8%-2.5%-5.4%13.3%45.7%
Earnings yield1.0%-63261.5%-282.6%-42.3%36.4%-39.0%-183.2%-148.0%
Enterprise value€37.8M€18.7M€23.2M€39.9M€62.7M€65.4M€76.9M€68.9M
Net debt / EBITDA1.6×-4.44×-1.43×-5.33×3.19×54.19×-4.74×-0.91×
Cash conversion cycle (days)4,3645,9564,1236673,791149215538