OMER S.p.A. (OMER.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

+133.1%

€8.07

vs €3.46 price

Levered DCF

€7.91

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

4.08

Safe zone

Rating

S-

Overall 5 / 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	11.23×	11.03×	10.41×	8.62×	10.67×	15.45×	20×	61.93×
P/B	1.55×	1.9×	1.56×	1.48×	2.75×	4.06×	3.79×	4.47×
P/S	1.27×	1.55×	1.28×	1.23×	2.03×	2.63×	3×	4.42×
EV / EBITDA	5.13×	5.67×	4.77×	4.51×	5.81×	11.18×	15.71×	30.34×
Gross margin	20.6%	66.1%	50.0%	51.8%	55.5%	63.3%	51.0%	53.8%
Operating margin	17.2%	20.8%	15.6%	16.1%	24.1%	19.4%	17.1%	12.3%
Net margin	11.3%	14.0%	12.4%	14.3%	18.8%	18.4%	15.1%	7.1%
Current ratio	3.34×	3.61×	3.64×	4.04×	2.78×	2.11×	2.87×	3.51×
Debt / equity	0.04×	0.06×	0.05×	0.09×	0.16×	0.41×	0.24×	0.23×
Interest coverage	37.8×	58.95×	15.19×	29.52×	86.82×	42.64×	40.84×	0×
Dividend yield	1.8%	1.4%	1.7%	0.0%	4.5%	2.0%	1.0%	0.1%
Payout ratio	19.8%	15.4%	17.0%	0.0%	48.9%	29.3%	20.3%	6.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.9%	17.2%	15.2%	17.2%	25.4%	28.3%	19.0%	7.2%
Return on invested capital	15.1%	17.1%	12.7%	12.7%	19.6%	18.5%	15.5%	6.3%
Return on assets	10.2%	12.4%	11.0%	12.4%	15.6%	14.7%	11.2%	4.5%
Free cash flow yield	9.5%	1.9%	13.4%	-12.9%	12.5%	-0.7%	-0.8%	-0.5%
Earnings yield	8.9%	9.0%	9.7%	11.6%	9.3%	7.0%	5.0%	1.6%
Enterprise value	€91.7M	€108.2M	€71.7M	€62.3M	€91.7M	€102.6M	€99.3M	€97.5M
Net debt / EBITDA	-1.19×	-0.78×	-0.99×	-0.69×	-1.19×	0.53×	0.24×	-0.08×
Cash conversion cycle (days)	149	211	148	232	102	206	105	92