Pharol, SGPS S.A. (PHR.LS) 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

-80.2%

€0.02

vs €0.10 price

Levered DCF

€0.02

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

18.33

Safe zone

Rating

Overall 2 / 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	24.23×	1.57×	-31.33×	-16.87×	-25.9×	-7.26×	4.07×	-25.11×
P/B	0.55×	0.41×	0.45×	0.62×	0.67×	0.63×	0.64×	0.97×
P/S	0×	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	-14.79×	0.94×	-5.96×	-9.24×	-20.1×	-5.9×	-15.72×	-19.34×
Gross margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	8.4×	5.86×	0.65×	1.24×	1.09×	1.18×	1.48×	2.61×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0×
Interest coverage	0×	-794.83×	-138.15×	-63.55×	-39.32×	-142.55×	-89.87×	-252.29×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.2%	26.3%	-1.4%	-3.6%	-2.6%	-8.7%	15.8%	-3.9%
Return on invested capital	-2.6%	-2.5%	-3.3%	-3.1%	-2.5%	-1.9%	-1.8%	-1.1%
Return on assets	2.2%	25.5%	-1.0%	-2.9%	-2.2%	-7.8%	14.4%	-3.5%
Free cash flow yield	-1.9%	-4.6%	30.2%	-5.7%	-7.1%	2.2%	-6.4%	1.4%
Earnings yield	4.1%	63.5%	-3.1%	-5.8%	-3.8%	-13.8%	24.6%	-4.0%
Enterprise value	€36.8M	€22.2M	€13.8M	€22.1M	€44M	€83.6M	€66.6M	€103.3M
Net debt / EBITDA	6.02×	-0.67×	7.43×	8.73×	8.1×	1.45×	4.17×	7.12×
Cash conversion cycle (days)	-4	-4	-22	-40	-505	-967	-84	-10,656