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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
-2382.4%
-€3.66
vs €0.16 price
Levered DCF
-€5.58
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
-32.48
Distress zone
Rating
—
Ratios by fiscal year

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

MetricFY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
P/E-0.36×-0.61×-0.87×-5.92×-5.48×-12.32×9.43×-6.78×
P/B-0.11×-0.43×-1.5×17.16×6.47×8.08×2.27×8×
P/S1×10.74×40.55×10.51×25.72×11.91×1.69×29.22×
EV / EBITDA-16.81×-5.42×-2.06×-6.38×-5.33×-11.35×-26.32×-4.63×
Gross margin55.1%0.1%0.3%99.6%100.0%100.0%100.0%100.0%
Operating margin-55.2%-1452.0%-3247.8%-167.7%-438.5%-92.9%16.8%-414.0%
Net margin-275.8%-1771.3%-4658.5%-177.4%-468.1%-96.9%18.1%-429.0%
Current ratio0.78×0.34×0.6×2.29×2.79×1.71×1.8×1.42×
Debt / equity-1.18×-0.96×-2.38×4.28×0.87×0.2×0.26×0.04×
Interest coverage-0.26×-4.68×-5.08×-7.61×-17.93×-105.88×447.79×-470.92×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Return on equity31.1%71.5%172.1%-289.6%-117.7%-65.8%24.2%-117.4%
Return on invested capital-33.6%1826.3%-85.8%-51.0%-58.2%-52.1%17.7%-104.1%
Return on assets-122.6%-727.6%-90.4%-43.3%-49.0%-35.6%12.8%-34.0%
Free cash flow yield0.0%14.3%-79.9%-12.0%-14.9%-8.2%-10.0%5.2%
Earnings yield-276.7%-165.0%-114.9%-16.9%-18.2%-8.1%10.7%-14.7%
Enterprise value€72.7M€66M€57.7M€143.7M€158.5M€286.9M€73.9M€101.1M
Net debt / EBITDA-15.28×-3.67×-1.08×-0.13×0.56×1.17×18.7×2.44×
Cash conversion cycle (days)524-130-1,021-22,639-1,86012076796