Sofina S.A. (SOF.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

-102.4%

-€6.62

vs €280.60 price

Levered DCF

-€43.92

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

4.81

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	73.73×	5.34×	-72.88×	-3.68×	5.61×	6.77×	5.41×	6.48×
P/B	0.77×	0.7×	0.84×	0.74×	1.28×	1.05×	0.85×	0.85×
P/S	64.46×	5.69×	15.15×	103.63×	145.19×	109.63×	33.61×	45.43×
EV / EBITDA	76.17×	5.66×	-83.85×	-3.86×	5.81×	6.72×	5.18×	6.19×
Gross margin	97.2%	99.7%	99.4%	99.7%	100.0%	100.0%	100.0%	100.0%
Operating margin	95.7%	107.2%	-19.3%	-2802.3%	2594.2%	1622.1%	622.3%	701.0%
Net margin	87.4%	106.6%	-20.8%	-2815.0%	2587.6%	1620.1%	621.8%	701.1%
Current ratio	401.1×	304.85×	202.28×	884.35×	1,561.44×	43.63×	29.72×	41.88×
Debt / equity	0.12×	0.08×	0.08×	0.07×	0.06×	0.02×	0×	0.01×
Interest coverage	11.48×	171.92×	-12.38×	-232.62×	461.82×	8,850.98×	1,200,739×	0×
Dividend yield	1.4%	1.5%	1.4%	1.5%	0.7%	1.0%	1.4%	1.6%
Payout ratio	102.5%	8.2%	-103.6%	-5.6%	3.9%	7.1%	7.8%	10.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	1.0%	13.2%	-1.1%	-20.1%	22.8%	15.5%	15.7%	13.2%
Return on invested capital	1.0%	12.3%	-0.9%	-18.3%	21.5%	15.2%	15.7%	13.0%
Return on assets	0.9%	12.2%	-1.1%	-18.4%	21.5%	15.2%	15.6%	13.0%
Free cash flow yield	5.1%	1.4%	4.0%	-27.2%	-3.8%	-0.7%	0.9%	15.4%
Earnings yield	1.4%	18.7%	-1.4%	-27.2%	17.8%	14.8%	18.5%	15.4%
Enterprise value	€9.4B	€7.7B	€8.1B	€7.2B	€15.1B	€9.3B	€6.2B	€5.3B
Net debt / EBITDA	8.83×	0.35×	-5.18×	-0.17×	0.21×	-0.05×	-0.22×	-0.3×
Cash conversion cycle (days)	-338	-89	-37	1,670	2,921	3,357	1,580	0