Esprinet S.p.A. (PRT.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

+65.9%

€11.94

vs €7.20 price

Levered DCF

-€1.88

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.83

Grey 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	15.07×	9.82×	-22.92×	7.02×	14.49×	17.11×	11.26×	13.7×
P/B	0.78×	0.54×	0.74×	0.81×	1.66×	1.39×	0.73×	0.56×
P/S	0.07×	0.05×	0.07×	0.07×	0.14×	0.12×	0.07×	0.05×
EV / EBITDA	4.94×	3.74×	7.27×	4.91×	5.07×	3.92×	0.07×	-0.85×
Gross margin	5.5%	5.5%	5.5%	5.2%	4.9%	4.3%	4.4%	4.5%
Operating margin	1.1%	-1.1%	0.4%	1.5%	1.5%	1.1%	1.0%	0.7%
Net margin	0.5%	0.5%	-0.3%	1.0%	0.9%	0.7%	0.6%	0.4%
Current ratio	1.22×	1.21×	1.25×	1.28×	1.29×	1.31×	1.27×	1.24×
Debt / equity	0.71×	0.67×	0.68×	0.65×	0.71×	0.69×	0.58×	0.44×
Interest coverage	3.02×	-2.95×	0.67×	10.42×	11.49×	8.96×	6.84×	7.56×
Dividend yield	6.5%	0.0%	10.2%	7.7%	4.3%	0.0%	2.6%	3.7%
Payout ratio	98.0%	0.0%	-234.1%	54.0%	61.6%	0.0%	30.0%	49.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.2%	5.5%	-3.2%	11.6%	11.4%	8.1%	6.5%	4.1%
Return on invested capital	4.3%	-5.0%	2.1%	7.6%	7.3%	5.3%	5.3%	3.4%
Return on assets	1.0%	1.1%	-0.6%	2.5%	2.3%	1.7%	1.4%	1.0%
Free cash flow yield	15.1%	-1.5%	56.8%	-79.2%	2.5%	13.2%	59.1%	65.2%
Earnings yield	6.6%	10.2%	-4.4%	14.2%	6.9%	5.9%	8.8%	7.3%
Enterprise value	€351.5M	€257.3M	€260.3M	€426.5M	€421.4M	€243.7M	€3.6M	-€39.3M
Net debt / EBITDA	0.67×	0.67×	-0.33×	1.08×	-2.62×	-4.72×	-4.93×	-4.98×
Cash conversion cycle (days)	9	17	6	19	-4	-11	-11	2