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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
-237.1%
-€0.10
vs €0.07 price
Levered DCF
-€0.07
After debt service
Piotroski score
2 / 9
Weak
Altman Z-score
-10.66
Distress zone
Rating
C
Overall 2 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-1.29×-1.8×-0.85×-5.6×-8.83×-7.35×-2.3×-2.43×
P/B-0.62×-0.96×-0.72×-10.19×15.7×21.32×6×3.41×
P/S15,482.52×9.85×17.54×60.33×47.58×57×100.76×18.75×
EV / EBITDA-2.31×-2.88×-2.01×-5.89×-8.59×-6.65×-1.99×-1.79×
Gross margin100.0%100.0%236.8%100.0%100.0%100.0%100.0%92.8%
Operating margin-1170500.0%-602.4%-2343.8%-1078.0%-533.1%-567.5%-4328.3%-760.4%
Net margin-1203600.0%-533.4%-2069.5%-1069.9%-542.4%-774.1%-4387.1%-769.7%
Current ratio0.39×0.24×0.26×1.57×2.4×2.56×2.64×3.65×
Debt / equity-0.52×-0.71×-0.77×-0.83×0.79×1.23×0.61×0.14×
Interest coverage-11.86×-10.18×-9.42×-10.5×-12.99×-14.52×-74.44×-80.99×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity48.3%52.0%85.5%180.8%-179.0%-289.5%-261.5%-140.1%
Return on invested capital1518.2%-776.3%-2430.0%-202.8%-70.6%-75.1%-131.5%-120.7%
Return on assets-145.8%-130.2%-287.1%-106.5%-50.5%-71.8%-94.5%-90.5%
Free cash flow yield-60.6%-50.0%-111.0%-21.8%-6.8%-6.0%-40.0%-35.8%
Earnings yield-77.7%-54.2%-118.0%-17.7%-11.4%-13.6%-43.5%-41.1%
Enterprise value€25.9M€42.5M€43.6M€157.8M€219.3M€227M€58.5M€58.7M
Net debt / EBITDA-0.93×-1.13×-0.98×-0.08×1.24×0.69×0.41×0.7×
Cash conversion cycle (days)575,60501,1874935245831,445