Roularta Media Group N.V. (ROU.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

+122.6%

€26.37

vs €11.85 price

Levered DCF

€19.63

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.21

Grey zone

Rating

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	31.92×	22.96×	64.5×	27.31×	13.38×	29.48×	16.15×	2.3×
P/B	0.83×	0.65×	0.7×	0.92×	0.97×	0.79×	0.77×	0.83×
P/S	0.51×	0.44×	0.47×	0.61×	0.74×	0.68×	0.6×	0.66×
EV / EBITDA	5.29×	3×	4.24×	5.97×	4.83×	5.18×	3.45×	-1.71×
Gross margin	-1.2%	41.0%	33.1%	81.0%	84.5%	82.4%	79.6%	78.2%
Operating margin	0.7%	-1.1%	-1.3%	1.1%	2.2%	-0.4%	3.8%	-23.7%
Net margin	1.6%	1.9%	0.7%	2.2%	5.5%	2.3%	3.7%	28.9%
Current ratio	1.05×	1.21×	1.14×	1.27×	1.5×	1.53×	1.59×	1.47×
Debt / equity	0.07×	0.04×	0.05×	0.05×	0.02×	0.02×	0.02×	0×
Interest coverage	15.52×	-4.86×	-8.95×	7.57×	22.62×	-1.51×	21.69×	-11.5×
Dividend yield	24.2%	3.3%	7.8%	5.6%	5.3%	0.0%	3.6%	34.1%
Payout ratio	764.2%	75.6%	501.4%	154.4%	70.7%	0.0%	57.8%	78.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	2.6%	2.8%	1.1%	3.4%	7.2%	2.7%	4.8%	35.9%
Return on invested capital	1.1%	-1.4%	-1.1%	0.2%	2.5%	-0.5%	4.5%	-27.4%
Return on assets	1.5%	1.7%	0.6%	2.0%	4.3%	1.8%	3.1%	22.5%
Free cash flow yield	13.5%	7.3%	-1.5%	3.9%	7.6%	0.9%	11.4%	0.0%
Earnings yield	3.2%	4.3%	1.5%	3.6%	7.5%	3.4%	6.2%	43.5%
Enterprise value	€115.1M	€79.2M	€95.2M	€135.8M	€121.7M	€89.5M	€80.3M	€88.1M
Net debt / EBITDA	-1.79×	-2.34×	-2.53×	-3.21×	-4.01×	-4.97×	-4.12×	1.86×
Cash conversion cycle (days)	26	4	34	-94	-145	-122	-42	-149