Laboratorio Reig Jofre, S.A. (RJF.MC) 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

-3.6%

€2.52

vs €2.61 price

Levered DCF

-€1.00

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

1.69

Distress zone

Rating

B-

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	41.65×	19.15×	19.92×	21.9×	49.24×	59.08×	36.36×	16.29×
P/B	0.96×	0.93×	0.92×	0.87×	1.33×	1.82×	1.01×	0.99×
P/S	0.63×	0.59×	0.6×	0.63×	1.06×	1.46×	0.9×	0.82×
EV / EBITDA	9.75×	6.84×	6.97×	7.39×	12.69×	15.66×	11.82×	9.42×
Gross margin	24.7%	57.7%	56.0%	25.7%	61.4%	61.0%	65.9%	65.2%
Operating margin	1.7%	3.7%	3.3%	3.1%	3.8%	4.0%	3.2%	4.9%
Net margin	1.5%	3.1%	3.0%	3.0%	2.2%	2.5%	2.5%	5.1%
Current ratio	1.54×	1.82×	1.47×	1.49×	1.45×	1.29×	1.41×	2.1×
Debt / equity	0.45×	0.27×	0.26×	0.31×	0.36×	0.31×	0.32×	0.18×
Interest coverage	2.99×	6.42×	8.5×	8.57×	9.74×	9.32×	6.03×	11.49×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.2%	0.3%
Payout ratio	0.6%	0.2%	0.4%	0.7%	1.1%	1.6%	7.3%	4.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.3%	4.9%	4.6%	4.2%	2.7%	3.1%	2.8%	6.2%
Return on invested capital	1.4%	3.9%	3.5%	2.9%	2.9%	3.2%	2.3%	4.6%
Return on assets	1.3%	3.0%	2.8%	2.5%	1.6%	1.8%	1.6%	4.2%
Free cash flow yield	-6.6%	5.3%	3.4%	2.8%	-2.1%	2.0%	-10.8%	-4.2%
Earnings yield	2.4%	5.2%	5.0%	4.8%	2.0%	1.7%	2.8%	6.2%
Enterprise value	€297.2M	€247.4M	€236.3M	€224.9M	€312.9M	€380.7M	€226.1M	€166.8M
Net debt / EBITDA	2.89×	1.33×	1.42×	1.8×	2.53×	1.87×	2.43×	1.02×
Cash conversion cycle (days)	128	140	102	101	152	147	161	166