Prim, S.A. (PRM.MC) 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

-98.1%

€0.23

vs €12.30 price

Levered DCF

€0.07

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

3.8

Safe zone

Rating

B+

Overall 3 / 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	13.47×	15.03×	13.93×	22.04×	14.41×	24.25×	17.62×	12.96×
P/B	163.15×	1.27×	1.41×	1.54×	2.06×	1.5×	1.79×	1.67×
P/S	89.18×	0.7×	0.82×	0.93×	1.49×	1.14×	1.31×	1.35×
EV / EBITDA	661.57×	6.58×	7.01×	9.91×	7.89×	10.16×	9.04×	8.03×
Gross margin	50.4%	48.3%	20.9%	47.9%	49.3%	50.5%	51.4%	53.4%
Operating margin	8.9%	6.7%	7.4%	4.7%	10.3%	9.4%	10.1%	12.5%
Net margin	6.6%	4.7%	5.9%	4.3%	10.3%	4.7%	7.4%	10.5%
Current ratio	2.99×	2.73×	2.33×	2.7×	2.96×	3.26×	3.27×	3.63×
Debt / equity	0.12×	0.14×	0.2×	0.18×	0.16×	0.18×	0.07×	0.01×
Interest coverage	41.78×	20.17×	19.38×	23.42×	79.6×	78.62×	115.61×	148.49×
Dividend yield	0.0%	4.6%	3.5%	4.8%	2.2%	4.5%	5.1%	5.5%
Payout ratio	47.9%	69.6%	49.2%	105.3%	31.0%	110.3%	89.4%	70.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.1%	8.5%	10.1%	7.0%	14.3%	6.2%	10.1%	13.0%
Return on invested capital	10.8%	7.7%	7.7%	4.9%	9.1%	7.7%	8.3%	11.4%
Return on assets	8.5%	5.7%	6.3%	4.5%	9.7%	4.2%	7.5%	10.2%
Free cash flow yield	0.1%	6.6%	-11.3%	-3.8%	5.5%	11.6%	-2.7%	0.3%
Earnings yield	0.1%	6.7%	7.1%	4.6%	7.0%	4.1%	5.7%	7.8%
Enterprise value	€22.5B	€172.5M	€196.8M	€195.4M	€237.3M	€156.7M	€201M	€173.9M
Net debt / EBITDA	-0.06×	0.34×	0.68×	0.57×	-0.44×	-0.73×	0.12×	-0.37×
Cash conversion cycle (days)	196	210	200	249	215	279	285	269