SRV Yhtiöt Oyj (SRV1V.HE) 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

-757.7%

-€51.70

vs €7.86 price

Levered DCF

-€3.48

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

1.84

Grey zone

Rating

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	4.7×	25.89×	-4×	-0.59×	-6.99×	-8.1×	-0.78×	-3.52×
P/B	0.44×	0.54×	0.5×	0.34×	1.1×	1.1×	0.46×	0.45×
P/S	0.1×	0.11×	0.11×	0.07×	0.19×	0.21×	0.08×	0.11×
EV / EBITDA	12×	10.82×	164.25×	-2.01×	248.49×	-256.47×	-5.59×	-22×
Gross margin	2.3%	13.2%	13.8%	10.5%	8.8%	10.9%	7.9%	7.8%
Operating margin	3.9%	1.6%	-1.1%	-1.4%	-0.2%	-0.2%	-0.7%	-2.1%
Net margin	2.2%	0.7%	-2.5%	-11.1%	-2.1%	-2.6%	-9.8%	-3.1%
Current ratio	2.63×	2.49×	2.42×	2.19×	1.81×	2.28×	2.59×	1.61×
Debt / equity	0.97×	0.93×	1×	0.86×	1.44×	2.09×	2.53×	1.59×
Interest coverage	2.78×	1.54×	-0.85×	-0.77×	-0.12×	-0.09×	-0.26×	-1.04×
Dividend yield	0.0%	3.5%	4.0%	4.0%	1.8%	0.0%	5.2%	3.4%
Payout ratio	0.0%	52.9%	-18.4%	-2.4%	-16.1%	-0.3%	-4.1%	-12.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.3%	3.6%	-10.9%	-58.6%	-12.0%	-13.6%	-58.3%	-12.7%
Return on invested capital	6.3%	3.8%	-2.0%	-3.6%	-0.5%	-0.3%	-0.9%	-3.2%
Return on assets	3.1%	1.2%	-3.4%	-19.1%	-2.9%	-2.8%	-11.3%	-3.2%
Free cash flow yield	27.1%	-2.8%	-1.8%	-165.1%	37.3%	22.4%	-15.7%	19.8%
Earnings yield	21.3%	6.7%	-21.9%	-170.4%	-11.0%	-12.3%	-127.9%	-28.4%
Enterprise value	€129.4M	€175.2M	€168.5M	€130.8M	€351.4M	€492.4M	€503M	€388.8M
Net debt / EBITDA	5.27×	5.95×	96.9×	-1.24×	120.2×	-150.55×	-4.69×	-16×
Cash conversion cycle (days)	97	159	193	145	155	228	199	172