Odlewnie Polskie S.a. (ODL.WA) 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

-55.2%

PLN 8.29

vs PLN 18.50 price

Levered DCF

PLN 3.85

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

5.34

Safe 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	11.78×	11.36×	5.43×	4.69×	6.16×	7.17×	4×	4.27×
P/B	1.34×	1.02×	1.31×	1.21×	1.26×	1.17×	0.98×	0.96×
P/S	0.9×	0.68×	0.71×	0.5×	0.56×	0.66×	0.38×	0.32×
EV / EBITDA	7.38×	4.36×	2.35×	2.32×	2.62×	3.04×	1.75×	1.91×
Gross margin	15.2%	14.6%	21.1%	18.1%	17.5%	18.7%	19.7%	18.0%
Operating margin	7.6%	7.7%	17.8%	13.1%	11.2%	11.0%	12.4%	-9.1%
Net margin	7.7%	6.0%	13.1%	10.6%	9.1%	9.2%	9.4%	7.5%
Current ratio	1.95×	3.35×	3.41×	2.14×	2.3×	2.92×	2.14×	1.69×
Debt / equity	0.12×	0×	0×	0.12×	0×	0×	0.04×	0.05×
Interest coverage	30.99×	226.45×	104.54×	168.47×	437.23×	142.84×	128.35×	-106.41×
Dividend yield	3.0%	6.7%	5.3%	5.5%	4.1%	5.1%	7.8%	7.9%
Payout ratio	35.5%	76.0%	28.8%	26.0%	25.1%	36.2%	31.3%	33.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.4%	9.0%	24.2%	25.7%	20.4%	16.4%	24.5%	22.4%
Return on invested capital	7.9%	9.0%	25.8%	21.9%	19.3%	14.3%	22.6%	-18.8%
Return on assets	8.3%	7.3%	18.9%	16.9%	14.1%	12.5%	17.0%	13.7%
Free cash flow yield	-6.8%	-15.0%	19.4%	5.3%	14.0%	9.4%	15.9%	10.0%
Earnings yield	8.5%	8.8%	18.4%	21.3%	16.2%	13.9%	24.9%	23.4%
Enterprise value	PLN 203.1M	PLN 121.7M	PLN 128.5M	PLN 110.5M	PLN 90.6M	PLN 78.5M	PLN 60M	PLN 52M
Net debt / EBITDA	-0.37×	-1.04×	-1.13×	-0.73×	-0.96×	-0.81×	-0.46×	-0.44×
Cash conversion cycle (days)	97	97	56	65	50	61	36	26