Laboratorios Farmaceuticos Rovi, S.A. (ROVI.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

+2.2%

€64.72

vs €63.30 price

Levered DCF

€50.34

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

7.18

Safe zone

Rating

A-

Overall 4 / 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	23.09×	23.58×	18.3×	9.67×	26.74×	34.45×	34.37×	49.86×
P/B	4.89×	5.64×	5.78×	3.71×	8.68×	5.62×	4.18×	3.11×
P/S	4.37×	4.23×	3.76×	2.36×	6.3×	5×	3.53×	2.95×
EV / EBITDA	16.07×	15.96×	12.85×	6.66×	19.85×	22.72×	22.45×	28.31×
Gross margin	60.7%	62.6%	58.3%	63.5%	59.3%	57.5%	56.3%	57.6%
Operating margin	23.3%	23.5%	26.6%	31.3%	28.0%	17.8%	11.2%	5.8%
Net margin	18.9%	17.9%	20.5%	24.4%	23.6%	14.5%	10.3%	5.9%
Current ratio	3.14×	3.14×	2.55×	2.12×	2.66×	2.97×	2.98×	2.9×
Debt / equity	0.18×	0.2×	0.12×	0.14×	0.16×	0.2×	0.26×	0.12×
Interest coverage	60.84×	76.4×	234.06×	301.35×	200.63×	69.67×	46.22×	24.52×
Dividend yield	1.5%	1.7%	2.2%	2.6%	0.5%	0.5%	0.3%	0.7%
Payout ratio	34.1%	41.2%	40.5%	25.5%	13.8%	15.9%	11.3%	33.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	21.1%	23.9%	31.6%	38.4%	32.5%	16.3%	12.2%	6.2%
Return on invested capital	16.5%	19.7%	27.8%	33.1%	27.7%	13.7%	9.6%	5.3%
Return on assets	14.7%	16.5%	21.3%	22.7%	20.9%	10.6%	7.7%	4.4%
Free cash flow yield	3.7%	2.4%	1.9%	9.7%	2.7%	0.3%	-3.7%	-2.0%
Earnings yield	4.3%	4.2%	5.5%	10.4%	3.7%	2.9%	2.9%	2.0%
Enterprise value	€3.3B	€3.3B	€3.2B	€1.9B	€4.1B	€2.1B	€1.4B	€832.6M
Net debt / EBITDA	0.12×	0.42×	0.16×	-0.19×	-0.13×	0.22×	0.28×	-2.08×
Cash conversion cycle (days)	362	373	306	312	295	408	285	206