Solaria Energía y Medio Ambiente, S.A. (SLR.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

-186.0%

-€13.16

vs €15.31 price

Levered DCF

-€51.52

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.48

Distress 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	16.5×	11.01×	21.64×	23.78×	45.05×	98.5×	35.79×	22.03×
P/B	1.42×	1.59×	4.45×	6.23×	8.65×	13.27×	4.4×	2.71×
P/S	5.08×	5.52×	12.15×	15.36×	22.5×	55.45×	24.6×	13.69×
EV / EBITDA	9.18×	10.26×	16.42×	19.51×	28.45×	67.58×	35.74×	20.33×
Gross margin	56.5%	100.0%	99.8%	98.9%	99.1%	112.0%	109.4%	106.8%
Operating margin	110.0%	89.1%	88.0%	87.7%	76.8%	62.1%	47.0%	54.8%
Net margin	69.6%	50.1%	56.2%	64.7%	50.5%	57.1%	69.1%	63.2%
Current ratio	0.52×	0.55×	0.67×	1.08×	1.08×	1.22×	1.71×	6.29×
Debt / equity	2.14×	1.87×	2.03×	2.57×	2.7×	1.88×	1.82×	1.21×
Interest coverage	4.5×	4.14×	4.93×	5.71×	4.28×	2.52×	1.46×	1.67×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	19.5%	14.4%	20.6%	26.2%	19.4%	13.7%	12.4%	12.5%
Return on invested capital	7.6%	6.3%	8.3%	8.1%	6.5%	5.1%	3.0%	4.7%
Return on assets	5.6%	4.5%	6.5%	6.3%	4.6%	4.3%	4.0%	5.4%
Free cash flow yield	-26.0%	-7.4%	-9.9%	-10.1%	-4.7%	-2.9%	-10.0%	-2.7%
Earnings yield	13.7%	9.1%	4.6%	4.2%	2.2%	1.0%	2.8%	4.6%
Enterprise value	€2.4B	€2.1B	€3.3B	€2.9B	€2.7B	€3.3B	€1.1B	€576.5M
Net debt / EBITDA	5.41×	5.42×	4.88×	5.03×	5.61×	7.22×	8.02×	4.01×
Cash conversion cycle (days)	-440	-39,603	-27,600	-16,061	-34,122	3,599	5,643	141