Technoprobe S.p.A. (TPRO.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

-84.8%

€3.55

vs €23.40 price

Levered DCF

€3.43

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

36.35

Safe 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
P/E	81.33×	57.4×	53.37×	26.8×	32.5×	38.24×	59.09×
P/B	6.44×	3×	6.28×	5.44×	8.8×	12.05×	0×
P/S	12.68×	6.83×	12.53×	7.3×	9.97×	11.85×	19.12×
EV / EBITDA	36.22×	18.25×	37.19×	14.76×	21.23×	24.92×	43.46×
Gross margin	42.5%	41.1%	48.7%	60.6%	59.9%	61.7%	61.1%
Operating margin	21.7%	12.4%	19.5%	38.0%	38.2%	43.2%	36.1%
Net margin	15.5%	11.8%	23.7%	26.9%	30.2%	30.8%	32.4%
Current ratio	7.23×	8.06×	7.92×	5.97×	4.74×	2.84×	0×
Debt / equity	0.01×	0.02×	0.02×	0.01×	0.03×	0.11×	0×
Interest coverage	156.35×	41.79×	443.57×	978.62×	764.79×	460.89×	590.02×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.1%	0.5%	0.4%
Payout ratio	0.0%	1.9%	0.0%	0.8%	3.9%	19.0%	23.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.9%	5.2%	11.9%	20.1%	26.7%	31.3%	0.0%
Return on invested capital	8.2%	3.4%	9.3%	19.5%	24.9%	28.9%	558.8%
Return on assets	6.9%	4.5%	10.4%	17.1%	22.0%	23.3%	0.0%
Free cash flow yield	1.6%	0.8%	-0.0%	3.2%	0.6%	1.2%	0.8%
Earnings yield	1.2%	1.7%	1.9%	3.7%	3.0%	2.6%	1.7%
Enterprise value	€7.3B	€3.1B	€4.8B	€3.6B	€3.8B	€3.8B	€3.9B
Net debt / EBITDA	-3.34×	-3.86×	-2.71×	-1.65×	-0.76×	-0.8×	0×
Cash conversion cycle (days)	133	177	140	168	187	110	-80