Philogen S.p.A. (PHIL.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

-1253.1%

-€237.53

vs €20.60 price

Levered DCF

-€846.69

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

9.45

Safe zone

Rating

Overall 4 / 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	4.09×	17.41×	-123.33×	-119.23×	-38.75×	-34.44×	323.59×	119.23×
P/B	2.51×	5.67×	8.22×	6.4×	5.85×	8.14×	6.59×	11.26×
P/S	2.99×	10.62×	32.19×	26.42×	246.19×	94.86×	35.94×	32.72×
EV / EBITDA	3.21×	17.13×	-363.39×	-527.55×	-47.93×	-43.58×	121.12×	160.58×
Gross margin	86.5%	73.5%	24.5%	44.4%	-326.0%	-105.8%	-28.8%	6.2%
Operating margin	80.0%	51.0%	-38.2%	1.0%	-672.1%	-253.9%	-34.7%	3.7%
Net margin	73.1%	61.2%	-26.6%	-22.7%	-630.0%	-278.0%	11.1%	26.7%
Current ratio	7.76×	7.95×	7.02×	9.18×	9.36×	5.3×	5.84×	2.25×
Debt / equity	0.03×	0.08×	0.16×	0.16×	0.16×	0.32×	0.2×	0.41×
Interest coverage	760.06×	72.42×	-16.16×	0.59×	-41.63×	-30.55×	-14.47×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	4.8%	0.2%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	1560.5%	27.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	61.4%	32.7%	-6.8%	-5.5%	-15.0%	-23.9%	2.0%	9.2%
Return on invested capital	57.4%	24.7%	-8.1%	0.2%	-13.7%	-16.3%	-3.0%	0.9%
Return on assets	52.5%	26.9%	-5.2%	-4.3%	-11.8%	-15.5%	1.5%	5.3%
Free cash flow yield	28.6%	4.9%	-1.4%	-1.5%	-4.2%	-3.7%	1.9%	1.2%
Earnings yield	24.5%	5.8%	-0.8%	-0.9%	-2.6%	-2.9%	0.3%	0.8%
Enterprise value	€822.1M	€766.6M	€743.9M	€617.8M	€622.1M	€459M	€463.5M	€463.4M
Net debt / EBITDA	-0.45×	-0.43×	0.35×	7.41×	-0.59×	-0.55×	2.68×	3.52×
Cash conversion cycle (days)	-81	-44	-75	-64	25	270	60	279