Raute Oyj (RAUTE.HE) 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

-71.6%

€3.96

vs €13.95 price

Levered DCF

€40.02

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

3.93

Safe zone

Rating

C+

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	7.12×	6.62×	41×	-2.9×	-48.08×	-107.45×	13.84×	8.21×
P/B	1.64×	1.61×	1.54×	1.46×	2.48×	2.39×	2.15×	2.09×
P/S	0.52×	0.39×	0.38×	0.21×	0.59×	0.84×	0.7×	0.54×
EV / EBITDA	2.45×	1.36×	1.8×	-4.55×	24.33×	50.46×	7.03×	4.89×
Gross margin	55.2%	49.8%	55.9%	39.6%	46.2%	47.0%	48.4%	44.4%
Operating margin	11.8%	6.7%	1.9%	-9.1%	-1.1%	-1.3%	5.6%	8.2%
Net margin	7.4%	5.9%	0.9%	-7.3%	-1.2%	-0.8%	5.1%	6.5%
Current ratio	1.8×	1.3×	1.1×	0.9×	1.15×	1.47×	1.9×	1.62×
Debt / equity	0.12×	0.11×	0.19×	0.62×	0.36×	0.19×	0.17×	0.02×
Interest coverage	17.6×	19.94×	3.13×	-248.59×	-8.23×	-15.17×	30.41×	54.66×
Dividend yield	3.7%	0.8%	0.0%	0.0%	4.0%	6.4%	5.6%	5.5%
Payout ratio	25.6%	5.0%	0.0%	0.0%	-192.2%	-686.1%	77.6%	44.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	23.5%	24.4%	3.8%	-50.3%	-5.2%	-2.2%	15.5%	25.4%
Return on invested capital	24.6%	19.7%	4.5%	-32.1%	-3.5%	-1.8%	12.0%	43.6%
Return on assets	12.1%	8.9%	1.0%	-12.5%	-1.6%	-1.0%	8.5%	12.3%
Free cash flow yield	-12.0%	14.1%	62.5%	-39.4%	21.0%	-2.6%	14.3%	-11.5%
Earnings yield	14.3%	15.1%	2.5%	-34.5%	-2.1%	-0.9%	7.2%	12.2%
Enterprise value	€56.9M	€28.3M	€13.1M	€40M	€72.4M	€92.9M	€92.7M	€84.8M
Net debt / EBITDA	-1.45×	-2.49×	-5.68×	-0.76×	-4.04×	-2.1×	-1.06×	-0.71×
Cash conversion cycle (days)	99	81	119	74	143	136	89	95