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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
-99.9%
€0.00
vs €0.76 price
Levered DCF
€0.01
After debt service
Piotroski score
3 / 9
Weak
Altman Z-score
6.94
Safe zone
Rating
C+
Overall 2 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-3.69×-2.34×-6.23×-5.02×-11.55×-7.49×-6.74×20.48×
P/B1.14×5.22×8.83×4.36×3.44×2.74×1.93×4.48×
P/S282.76×12.49×17.44×52.77×23.16×46.24×9.53×123.14×
EV / EBITDA-3.37×-2.74×-4.34×-5.38×-13.86×-9.77×-5.77×17.87×
Gross margin100.0%-439.6%-274.5%-929.0%-229.1%-817.3%-136.0%-1948.1%
Operating margin-8381.6%-561.3%-380.3%-956.6%-235.4%-804.9%-191.4%551.9%
Net margin-7658.0%-534.7%-282.6%-1049.6%-200.2%-618.9%-141.4%601.2%
Current ratio9.62×1.48×1.79×3.64×4.27×2.25×2.66×1.52×
Debt / equity0.02×0.68×0.09×0.06×0.06×0.11×0.25×1.06×
Interest coverage-24.29×-21.21×0×-37.19×-50.7×-17.95×-17.65×0×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity-30.8%-223.4%-143.0%-86.7%-29.8%-36.7%-28.6%21.9%
Return on invested capital-27.4%-106.7%-58.5%-54.5%-26.5%-32.8%-25.7%7.3%
Return on assets-27.0%-80.5%-49.4%-49.4%-19.6%-21.6%-16.3%7.4%
Free cash flow yield-27.1%-33.6%-27.2%-13.2%-14.1%-21.5%-19.1%-18.1%
Earnings yield-27.1%-42.8%-16.2%-19.9%-8.6%-13.4%-14.8%4.9%
Enterprise value€134M€73.1M€123.5M€163M€229.4M€137.9M€142M€201.4M
Net debt / EBITDA0.12×0.24×0.5×0.06×0.12×-0×-0.62×3.28×
Cash conversion cycle (days)2,740-33-14445294-68-54184