Tamburi Investment Partners S.p.A. (TIP.MI) 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

-136.0%

-€3.20

vs €8.87 price

Levered DCF

-€3.31

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.82

Grey zone

Rating

Overall 2 / 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	20.42×	36.48×	18.24×	9.14×	76.38×	7,655.56×	35.89×	34.41×
P/B	1.02×	1.01×	1.12×	1.04×	1.37×	1.21×	1.34×	1.47×
P/S	541.87×	138.07×	155.05×	122.27×	103.53×	142.56×	86.35×	43.48×
EV / EBITDA	26.27×	32.32×	19.29×	11.62×	88.78×	158.96×	41.07×	31.59×
Gross margin	-38.5%	41.7%	38.7%	42.3%	46.1%	49.5%	65.3%	95.1%
Operating margin	-1039.5%	-230.5%	-356.1%	-318.1%	-294.2%	-136.5%	-103.4%	-48.7%
Net margin	2659.2%	378.5%	857.9%	1342.4%	140.1%	1.8%	241.8%	126.7%
Current ratio	0.77×	0.25×	0.1×	0.64×	1.07×	2.38×	1.17×	0.54×
Debt / equity	0.38×	0.33×	0.33×	0.4×	0.37×	0.55×	0.69×	0.31×
Interest coverage	-1.3×	-1.54×	-2.64×	-3.99×	-6.14×	-1.21×	-2.33×	-2.05×
Dividend yield	1.8%	0.8%	1.4%	1.7%	1.9%	1.2%	1.0%	1.8%
Payout ratio	35.8%	30.0%	25.4%	15.0%	137.8%	9645.0%	35.7%	62.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.0%	2.8%	6.2%	11.5%	1.9%	0.0%	3.8%	4.3%
Return on invested capital	-1.4%	-1.2%	-1.9%	-1.9%	-2.7%	-0.7%	-0.9%	-1.2%
Return on assets	3.5%	2.0%	4.4%	8.0%	1.3%	0.0%	2.1%	3.1%
Free cash flow yield	-2.5%	-1.3%	-1.0%	0.7%	5.9%	-7.4%	-2.1%	-1.0%
Earnings yield	4.9%	2.7%	5.5%	11.0%	1.4%	0.0%	2.8%	2.9%
Enterprise value	€2B	€1.8B	€2B	€1.7B	€2.1B	€1.7B	€1.5B	€1.1B
Net debt / EBITDA	7.05×	7.95×	4.31×	3.19×	18.96×	49.29×	10.79×	5.5×
Cash conversion cycle (days)	605	77	255	-25	-65	19	-24	37