Reka Industrial Oyj (REKA.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

-140.5%

-€1.60

vs €3.95 price

Levered DCF

€6.74

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.07

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	21.7×	61.23×	1.11×	3.83×	22.76×	22×	-8.5×	-23×
P/B	0.58×	0.6×	0.69×	1.61×	2.04×	2.12×	1.74×	1.48×
P/S	0.82×	0.94×	1.25×	1.12×	0.94×	0.17×	0.12×	0.12×
EV / EBITDA	14.09×	11.88×	2.4×	6.7×	16.75×	6.24×	6.24×	7.36×
Gross margin	17.6%	51.7%	46.8%	44.7%	50.4%	29.5%	25.1%	25.8%
Operating margin	3.7%	-3.2%	-2.2%	9.5%	11.2%	3.8%	-0.3%	1.0%
Net margin	3.9%	1.5%	112.8%	29.5%	4.0%	0.8%	-1.5%	-0.5%
Current ratio	4.12×	4.47×	6.09×	0.99×	0.92×	1.01×	1.06×	1.02×
Debt / equity	0.22×	0.15×	0.11×	0.82×	2.44×	3.38×	3.59×	1.59×
Interest coverage	1.63×	-1.17×	-0.46×	2.96×	2.23×	1.51×	-0.1×	0.71×
Dividend yield	1.6%	46.7%	6.2%	1.6%	1.3%	0.0%	1.0%	3.9%
Payout ratio	34.4%	2862.7%	6.9%	6.0%	30.2%	0.0%	-8.3%	-90.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.7%	1.0%	62.5%	42.2%	8.8%	9.7%	-20.7%	-6.5%
Return on invested capital	1.6%	-1.3%	-0.9%	3.4%	3.7%	8.5%	-0.5%	2.6%
Return on assets	1.9%	0.7%	48.2%	10.3%	1.4%	1.3%	-2.4%	-1.1%
Free cash flow yield	-2.0%	-0.1%	-1.7%	25.9%	22.9%	-9.5%	5.0%	-31.7%
Earnings yield	4.7%	1.6%	90.1%	26.2%	4.3%	4.6%	-11.9%	-4.3%
Enterprise value	€35.2M	€31.7M	€5.8M	€51M	€49.7M	€51.7M	€30.4M	€24.2M
Net debt / EBITDA	3.67×	2.28×	-13.39×	2.2×	9.01×	3.7×	3.74×	3.68×
Cash conversion cycle (days)	91	53	80	63	109	58	41	61