Ontex Group N.V. (ONTEX.BR) 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

+2259.6%

€33.27

vs €1.41 price

Levered DCF

€18.39

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.59

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	-2.27×	64.54×	17.7×	-1.87×	-9.2×	16.42×	40.76×	14.92×
P/B	0.41×	0.74×	0.68×	0.59×	0.54×	0.81×	1.26×	1.22×
P/S	0.22×	0.37×	0.34×	0.3×	0.4×	0.43×	0.66×	0.63×
EV / EBITDA	5.61×	9.11×	7.49×	-376.66×	10.75×	7.22×	13.55×	10.38×
Gross margin	27.2%	29.2%	26.0%	22.6%	36.6%	29.2%	27.2%	27.3%
Operating margin	5.4%	4.1%	4.9%	1.7%	6.9%	5.3%	6.8%	6.7%
Net margin	-9.8%	0.6%	1.9%	-16.2%	-4.4%	2.6%	1.6%	4.2%
Current ratio	0.98×	1.21×	1.23×	1.45×	1.25×	1.13×	1.19×	1.26×
Debt / equity	0.68×	0.78×	0.9×	1.21×	0.89×	1.17×	0.79×	0.72×
Interest coverage	1.83×	1.54×	1.53×	0.62×	2.48×	2.99×	4.09×	5.32×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	2.2%	3.4%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	88.7%	50.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-18.3%	1.1%	3.9%	-31.5%	-5.9%	4.9%	3.1%	8.2%
Return on invested capital	3.5%	3.9%	3.1%	1.5%	4.8%	3.3%	5.3%	5.6%
Return on assets	-8.0%	0.4%	1.5%	-10.0%	-2.3%	1.8%	1.3%	3.5%
Free cash flow yield	10.9%	15.2%	10.4%	-6.7%	13.0%	9.5%	8.9%	4.5%
Earnings yield	-44.1%	1.5%	5.6%	-53.5%	-10.9%	6.1%	2.5%	6.7%
Enterprise value	€970M	€1.3B	€1.3B	€1.4B	€1.3B	€1.7B	€2.3B	€2.2B
Net debt / EBITDA	3.34×	4.5×	4.02×	-240×	5.89×	3.53×	4.75×	3.47×
Cash conversion cycle (days)	10	12	22	10	47	23	29	38