First Sensor AG (SIS.DE) 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

-95.3%

€2.51

vs €53.50 price

Levered DCF

-€13.93

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

13.72

Safe 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	-68.86×	-34.77×	143.5×	31.87×	22.84×	7.94×	172.05×	28.75×
P/B	4.9×	5.21×	4.67×	4.8×	3.57×	3.1×	4.38×	2.42×
P/S	5.33×	5.09×	4.4×	5.17×	3.23×	2.68×	2.4×	1.36×
EV / EBITDA	182.38×	59.18×	48.73×	181.85×	199.28×	21.24×	24.82×	10.96×
Gross margin	5.1%	-4.1%	51.7%	8.4%	51.7%	53.9%	55.9%	55.1%
Operating margin	-4.2%	-11.5%	3.3%	-2.3%	7.6%	5.6%	10.0%	7.8%
Net margin	-7.7%	-14.6%	3.0%	-3.9%	14.1%	33.8%	1.4%	4.8%
Current ratio	4.37×	5.11×	2.86×	3.4×	2.48×	5.52×	1.47×	2.92×
Debt / equity	0.06×	0.06×	0.1×	0.13×	0.36×	0.18×	0.63×	0.55×
Interest coverage	0×	-70.41×	16.18×	-5.37×	0×	6.03×	9.59×	7.34×
Dividend yield	0.9%	0.8%	0.0%	3.7%	1.8%	0.5%	0.5%	0.8%
Payout ratio	-59.6%	-27.4%	0.0%	-492.4%	40.4%	3.9%	89.0%	22.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-7.1%	-15.0%	3.2%	-3.6%	15.6%	39.0%	2.6%	8.5%
Return on invested capital	-3.6%	-10.9%	2.9%	-1.9%	6.0%	5.2%	7.5%	6.1%
Return on assets	-5.8%	-12.4%	2.4%	-2.7%	10.0%	29.1%	1.3%	4.4%
Free cash flow yield	0.6%	-0.8%	0.6%	-1.9%	-2.6%	-1.0%	2.2%	2.9%
Earnings yield	-1.5%	-2.9%	0.7%	-0.7%	4.4%	12.6%	0.6%	3.5%
Enterprise value	€568.7M	€625M	€603.5M	€612.1M	€475.9M	€429M	€410.8M	€231M
Net debt / EBITDA	2.01×	0.67×	0.85×	4.49×	17.33×	0.68×	1.4×	0.92×
Cash conversion cycle (days)	256	132	207	262	192	170	171	150