UmweltBank AG (UBK.DE) 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

+1405.4%

€55.70

vs €3.70 price

Levered DCF

€2,380.75

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

D+

Overall 1 / 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	10.38×	303.92×	389.11×	24.45×	35.55×	23.31×	20.56×	14.51×
P/B	0.51×	0.89×	1.14×	1.87×	2.83×	2.67×	2.34×	2.07×
P/S	0.98×	1.79×	2.51×	4.5×	8.51×	5.23×	4.34×	3.33×
EV / EBITDA	227.15×	-267.5×	-511.9×	87.37×	74.26×	81.26×	50×	43.39×
Gross margin	49.1%	32.4%	48.3%	85.3%	90.6%	79.6%	75.4%	75.0%
Operating margin	11.4%	-23.4%	-3.7%	26.5%	39.4%	35.9%	35.5%	39.1%
Net margin	9.5%	0.6%	0.6%	18.4%	23.8%	22.3%	21.2%	22.9%
Current ratio	1,390.74×	27,542.56×	0.05×	0×	0×	0.31×	0.01×	0×
Debt / equity	6.41×	7.59×	9.48×	9.28×	10.5×	11.92×	8.5×	9.43×
Interest coverage	0.24×	-0.36×	-0.07×	1.81×	4.19×	1.76×	1.44×	1.57×
Dividend yield	0.0%	0.0%	4.2%	2.5%	1.6%	2.3%	2.6%	3.6%
Payout ratio	0.0%	0.0%	1613.9%	60.2%	55.8%	54.6%	54.3%	52.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.0%	0.3%	0.3%	7.6%	7.9%	11.4%	11.4%	14.2%
Return on invested capital	0.3%	-0.5%	-0.1%	5.0%	2.2%	13.3%	10.1%	25.8%
Return on assets	0.2%	0.0%	0.0%	0.3%	0.3%	0.4%	0.4%	0.5%
Free cash flow yield	-262.9%	-1034.1%	-70.6%	0.3%	0.3%	156.3%	60.2%	60.0%
Earnings yield	9.8%	0.3%	0.3%	4.1%	2.8%	4.3%	4.9%	6.9%
Enterprise value	€1.9B	€2.1B	€2.5B	€2.5B	€2.5B	€2.3B	€1.6B	€1.3B
Net debt / EBITDA	209.98×	-238.67×	-454.51×	70.78×	53.27×	65.76×	38.94×	35.4×
Cash conversion cycle (days)	0	-12	-714	-8,063	-39,075	-9	-854	-2