Rebl Group Oyj (REBL.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

+2289.9%

€21.39

vs €0.90 price

Levered DCF

€4.92

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.96

Grey 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	-4.5×	1.9×	-10.67×	-8.84×	15.28×	-101.28×	36.11×	40.33×
P/B	0.26×	0.33×	1.05×	1.25×	1.51×	1.57×	1.68×	1.53×
P/S	0.11×	0.12×	0.31×	0.36×	0.65×	0.68×	0.76×	0.86×
EV / EBITDA	4.54×	6.45×	10.58×	22.24×	7.56×	11.11×	10.97×	12.48×
Gross margin	59.1%	57.8%	55.1%	50.0%	54.3%	53.8%	52.0%	50.8%
Operating margin	-3.7%	-2.2%	-2.7%	-0.2%	2.2%	-1.4%	1.5%	0.8%
Net margin	-2.5%	6.4%	-2.9%	-4.0%	4.3%	-0.7%	2.1%	2.2%
Current ratio	1.54×	0.91×	0.76×	0.94×	1.07×	1.08×	1.15×	1.22×
Debt / equity	0.67×	0.97×	1.39×	1.39×	0.96×	0.91×	0.85×	0.61×
Interest coverage	-2.23×	-1.2×	-1.08×	-0.22×	3.9×	-2.31×	3.11×	1.76×
Dividend yield	0.0%	0.0%	0.1%	4.8%	2.7%	4.5%	3.8%	6.6%
Payout ratio	0.0%	0.0%	-0.6%	-42.0%	41.6%	-454.8%	135.5%	262.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-5.7%	17.5%	-9.7%	-14.2%	9.9%	-1.6%	4.8%	3.9%
Return on invested capital	-4.0%	-2.4%	-3.1%	-0.3%	2.1%	-1.4%	1.7%	0.7%
Return on assets	-2.7%	7.0%	-3.0%	-4.6%	4.0%	-0.7%	2.1%	2.0%
Free cash flow yield	8.4%	29.2%	22.2%	-2.0%	-0.3%	8.0%	11.4%	-4.6%
Earnings yield	-22.3%	52.3%	-9.3%	-11.3%	6.6%	-1.0%	2.8%	2.5%
Enterprise value	€40.1M	€50.4M	€82M	€98.5M	€109.6M	€103.9M	€114.9M	€99.4M
Net debt / EBITDA	3.13×	4.65×	5.91×	11.5×	2.81×	3.68×	3.2×	2.97×
Cash conversion cycle (days)	50	61	55	52	60	43	51	41