OT Logistics S.A. (OTS.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

-91.3%

PLN 1.27

vs PLN 14.66 price

Levered DCF

-PLN 21.03

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.84

Distress zone

Rating

D+

Overall 1 / 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	-3.27×	-22.93×	3.02×	1.66×	1.01×	-0.49×	-0.49×	-0.47×
P/B	1.54×	1.44×	2.48×	1.49×	23.21×	-0.51×	10.76×	1.32×
P/S	0.55×	0.65×	0.8×	0.5×	0.13×	0.06×	0.06×	0.05×
EV / EBITDA	20.04×	10.45×	3.3×	2.93×	2.98×	22.94×	19.18×	-188.39×
Gross margin	7.2%	10.3%	32.9%	30.6%	11.6%	12.1%	12.4%	9.2%
Operating margin	-6.4%	2.6%	25.0%	23.2%	14.9%	-4.8%	-1.6%	-6.0%
Net margin	-16.9%	-2.8%	26.5%	30.5%	13.2%	-12.5%	-11.3%	-10.9%
Current ratio	0.45×	0.66×	1.19×	1.07×	0.48×	0.27×	0.29×	0.41×
Debt / equity	5.07×	2.96×	2.14×	2.9×	98.97×	-5.69×	223.13×	9.56×
Interest coverage	-0.63×	0.35×	6.77×	4.25×	4.02×	-0.67×	-0.23×	-1.64×
Dividend yield	0.0%	18.1%	25.6%	0.0%	0.0%	1.9%	0.4%	0.7%
Payout ratio	0.0%	-411.7%	77.2%	0.0%	0.0%	-0.9%	-0.2%	-0.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-47.0%	-6.3%	82.3%	89.9%	2306.4%	104.6%	-2085.1%	-279.0%
Return on invested capital	-2.7%	1.0%	21.5%	15.4%	22.7%	-7.2%	-0.9%	-6.6%
Return on assets	-6.5%	-1.4%	22.6%	19.1%	16.3%	-12.3%	-5.7%	-8.3%
Free cash flow yield	9.3%	-3.5%	31.2%	28.1%	39.2%	23.6%	149.5%	1.2%
Earnings yield	-30.5%	-4.4%	33.2%	60.4%	99.4%	-204.4%	-193.8%	-211.9%
Enterprise value	PLN 647.5M	PLN 633.8M	PLN 811.8M	PLN 639.5M	PLN 541.1M	PLN 612.5M	PLN 1.2B	PLN 370.9M
Net debt / EBITDA	15.35×	7.03×	1.37×	1.88×	2.4×	20.99×	18.26×	-162.8×
Cash conversion cycle (days)	-8	18	2	59	21	-34	-29	-5