Unidata S.p.A. (UD.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

+203.5%

€9.71

vs €3.20 price

Levered DCF

€0.83

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.61

Distress 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	12.57×	10.64×	17.91×	1.57×	17.44×	13.86×	23.34×	20.43×
P/B	1×	1.26×	1.85×	3.17×	4.72×	2.22×	2.65×	5.69×
P/S	0.79×	0.91×	1.28×	2.28×	3.75×	2.09×	2.54×	2.88×
EV / EBITDA	4.64×	5.08×	7.53×	7.73×	10×	5.28×	7.24×	8.89×
Gross margin	24.1%	29.2%	27.0%	34.7%	48.9%	53.2%	55.9%	58.9%
Operating margin	13.6%	15.7%	13.2%	20.9%	24.2%	21.9%	15.6%	20.3%
Net margin	6.4%	8.4%	7.2%	14.6%	21.5%	14.9%	10.9%	14.1%
Current ratio	1.25×	0.75×	0.49×	1.24×	1.17×	1.47×	1.72×	1.07×
Debt / equity	0.73×	0.69×	0.96×	0.6×	0.41×	0.43×	0.51×	0.44×
Interest coverage	3.8×	4.12×	3.96×	31.12×	54.33×	47.31×	16.95×	88.62×
Dividend yield	0.3%	0.3%	0.3%	0.2%	0.0%	0.0%	0.0%	0.0%
Payout ratio	4.3%	3.5%	4.6%	3.3%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	8.1%	11.7%	10.4%	20.3%	27.0%	15.8%	11.4%	27.9%
Return on invested capital	5.5%	7.9%	6.1%	10.7%	14.9%	7.6%	4.0%	13.1%
Return on assets	3.3%	4.6%	3.6%	7.4%	10.0%	5.3%	3.3%	8.4%
Free cash flow yield	11.3%	16.0%	1.2%	-3.7%	-3.9%	4.3%	2.1%	-2.6%
Earnings yield	8.0%	9.3%	5.6%	6.4%	5.7%	7.1%	4.3%	4.9%
Enterprise value	€124.9M	€137.3M	€168.7M	€126.8M	€140.5M	€45.5M	€37.3M	€33.9M
Net debt / EBITDA	1.41×	1.68×	2.19×	0.6×	0.25×	-0.23×	0.9×	0.32×
Cash conversion cycle (days)	-23	-29	-12	54	-55	-10	178	-56