Pallas Air Oyj (PALLAS.HE) 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

-337.4%

-€1.07

vs €0.45 price

Levered DCF

-€2.34

After debt service

Piotroski score

—

Altman Z-score

—

Rating

—

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2022	FY2021	FY2020
P/E	-0.54×	7.25×	15.26×
P/B	0.57×	4.31×	9.81×
P/S	0.91×	1.66×	2.74×
EV / EBITDA	-3.18×	5.93×	11.37×
Gross margin	23.7%	64.3%	49.7%
Operating margin	-143.2%	29.3%	23.3%
Net margin	-168.7%	22.6%	18.4%
Current ratio	1.26×	1.4×	0.96×
Debt / equity	1.21×	0.83×	1.11×
Interest coverage	-7.02×	20.63×	63.15×
Dividend yield	0.0%	0.6%	0.0%
Payout ratio	0.0%	4.4%	0.0%

Key metrics by fiscal year

Metric	FY2022	FY2021	FY2020
Return on equity	-104.8%	58.7%	65.8%
Return on invested capital	-38.8%	32.2%	30.3%
Return on assets	-38.1%	25.9%	13.8%
Free cash flow yield	-106.8%	-1.9%	-3.4%
Earnings yield	-184.8%	13.6%	6.7%
Enterprise value	€12.3M	€35.3M	€32.8M
Net debt / EBITDA	-2.14×	0.96×	1.13×
Cash conversion cycle (days)	315	245	172