Prochem S.A. (PRM.WA) 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

-407.6%

-PLN 65.53

vs PLN 21.30 price

Levered DCF

-PLN 37.03

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.36

Distress 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	-3.15×	-2.26×	-2.44×	128.46×	9.35×	3.97×	5.97×	26.06×
P/B	1.82×	1.44×	0.92×	0.74×	0.58×	0.52×	0.51×	0.6×
P/S	0.35×	0.42×	0.21×	0.3×	0.23×	0.16×	0.15×	0.33×
EV / EBITDA	-19.8×	-5.24×	-3.98×	5.84×	4.64×	1.79×	2.53×	42.45×
Gross margin	5.1%	5.6%	-5.4%	5.6%	7.2%	8.2%	5.7%	6.8%
Operating margin	-7.9%	-14.4%	-9.2%	0.7%	4.1%	4.8%	3.0%	0.5%
Net margin	-11.0%	-18.4%	-8.7%	0.2%	2.5%	3.9%	2.4%	1.3%
Current ratio	0.95×	1.27×	1.52×	1.98×	1.28×	1.49×	1.27×	1.24×
Debt / equity	1.22×	0.71×	0.48×	0.37×	0.31×	0.28×	0.33×	0.09×
Interest coverage	-3.32×	-5.76×	-6.6×	0.49×	9.37×	14.19×	7.28×	1.14×
Dividend yield	1.0%	0.1%	0.0%	0.0%	0.0%	0.0%	0.0%	47.7%
Payout ratio	-3.0%	-0.3%	0.0%	0.0%	0.0%	0.0%	0.0%	1253.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-57.8%	-64.0%	-37.7%	0.6%	6.2%	13.1%	8.6%	2.3%
Return on invested capital	-16.3%	-25.6%	-18.7%	0.5%	5.3%	8.3%	5.3%	0.6%
Return on assets	-12.1%	-20.9%	-15.3%	0.3%	2.5%	5.5%	3.0%	1.3%
Free cash flow yield	-3.8%	4.0%	-29.9%	9.4%	-11.4%	5.8%	73.4%	-11.4%
Earnings yield	-31.8%	-44.3%	-41.0%	0.8%	10.7%	25.2%	16.8%	3.8%
Enterprise value	PLN 72.5M	PLN 78.8M	PLN 76.8M	PLN 63.1M	PLN 74.2M	PLN 45.6M	PLN 42.2M	PLN 55.2M
Net debt / EBITDA	-7.2×	-1.37×	-0.88×	-0.36×	1.04×	-0.37×	-0.29×	3.61×
Cash conversion cycle (days)	36	37	52	52	39	26	32	56