Realco S.A. (REAL.BR) 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

+316.5%

€58.31

vs €14.00 price

Levered DCF

-€7.25

After debt service

Piotroski score

—

Altman Z-score

—

Rating

—

Ratios by fiscal year

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

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
P/E	37.8×	45×	110.53×	6.03×	7.38×	41.67×	71.43×	151.67×
P/B	1.07×	1.33×	1.6×	1.71×	2.78×	5×	4.54×	4.41×
P/S	0.8×	0.99×	1.39×	0.9×	1.16×	1.4×	1.23×	1.28×
EV / EBITDA	11.15×	15.75×	72.22×	3.8×	5.38×	19.92×	21.15×	24.76×
Gross margin	37.6%	36.2%	30.5%	27.6%	37.5%	33.2%	32.9%	31.7%
Operating margin	2.1%	1.8%	1.9%	20.4%	21.7%	4.8%	3.3%	3.0%
Net margin	2.1%	2.2%	1.3%	15.0%	15.7%	3.3%	1.7%	0.8%
Current ratio	1.9×	1.52×	1.74×	2.94×	2.43×	1.73×	1.62×	1.58×
Debt / equity	0.54×	0.68×	0.55×	0.35×	0.52×	0.89×	1.07×	1.17×
Interest coverage	1.45×	1.57×	3×	35.43×	29.34×	6.65×	3.35×	2.62×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.4%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	58.5%

Key metrics by fiscal year

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Return on equity	2.8%	3.0%	1.5%	28.4%	37.7%	11.9%	6.4%	2.9%
Return on invested capital	1.8%	1.4%	1.4%	20.3%	24.8%	9.9%	5.6%	4.3%
Return on assets	1.6%	1.5%	0.7%	15.3%	17.5%	4.7%	2.4%	1.0%
Free cash flow yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings yield	2.6%	2.2%	0.9%	16.6%	13.6%	2.4%	1.4%	0.7%
Enterprise value	€14.6M	€16.8M	€17M	€12.1M	€15.6M	€18M	€15.2M	€14.1M
Net debt / EBITDA	3.56×	4.91×	14.71×	-0.08×	0.46×	2.13×	3.23×	4.23×
Cash conversion cycle (days)	120	96	86	95	86	66	7	68