Obrascón Huarte Lain, S.A. (OHLA.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

+107.6%

€0.74

vs €0.36 price

Levered DCF

€0.88

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.42

Distress 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	297.92×	-4.96×	42.81×	-2.51×	71.33×	-1.04×	-1.92×	-0.12×
P/B	0.83×	0.47×	0.48×	0.42×	0.68×	0.34×	0.43×	0.24×
P/S	0.15×	0.07×	0.08×	0.08×	0.15×	0.06×	0.09×	0.06×
EV / EBITDA	1.43×	1.69×	1.3×	3.39×	2.54×	391.32×	160.13×	-0.16×
Gross margin	-3.0%	44.0%	44.1%	54.4%	45.5%	43.8%	41.7%	23.7%
Operating margin	3.7%	2.0%	2.9%	1.4%	0.9%	-0.3%	-0.4%	-19.3%
Net margin	0.0%	-1.4%	0.2%	-3.4%	0.2%	-5.3%	-4.8%	-54.3%
Current ratio	1.25×	1.22×	1.23×	1.19×	1.26×	1.08×	1.05×	1.15×
Debt / equity	0.71×	1.13×	1.19×	0.95×	0.9×	1.73×	1.33×	0.94×
Interest coverage	1.32×	0.87×	1.08×	0.54×	0.37×	-0.16×	-0.22×	-6.87×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	53.1%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-6.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.3%	-9.5%	1.1%	-17.3%	1.0%	-32.6%	-22.8%	-200.5%
Return on invested capital	2.3%	-150.0%	0.9%	3.1%	0.3%	-0.6%	-0.8%	-31.3%
Return on assets	0.0%	-1.4%	0.2%	-3.0%	0.2%	-4.8%	-3.9%	-38.4%
Free cash flow yield	-6.5%	53.1%	67.8%	-11.3%	-7.2%	-10.8%	-68.3%	-328.7%
Earnings yield	0.3%	-20.2%	2.3%	-40.9%	1.4%	-95.8%	-52.7%	-839.2%
Enterprise value	€292.8M	€161.7M	€229.5M	€299.9M	€480.2M	€490.7M	€550M	€114.5M
Net debt / EBITDA	-1.04×	-0.9×	-0.05×	0.71×	0.3×	265.38×	81.12×	0.1×
Cash conversion cycle (days)	10	-31	-17	-27	-51	-30	-74	-17