Uniphar plc (UPR.IR) 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

+11.4%

€4.50

vs €4.04 price

Levered DCF

€3.70

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.77

Grey zone

Rating

B+

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	17.6×	8.83×	16.81×	18.24×	27.78×	21.64×	11.09×	15.31×
P/B	2.28×	1.44×	2.21×	2.81×	5.36×	3.09×	1.24×	1.78×
P/S	0.3×	0.21×	0.29×	0.39×	0.69×	0.34×	0.13×	0.17×
EV / EBITDA	9.86×	6.46×	9.13×	11.09×	16.91×	13.18×	5.7×	15.17×
Gross margin	14.9%	15.4%	15.3%	14.8%	14.1%	11.9%	10.8%	10.3%
Operating margin	3.0%	3.0%	2.7%	2.6%	2.3%	2.2%	2.4%	1.8%
Net margin	1.7%	2.3%	1.8%	2.2%	2.5%	1.5%	1.3%	1.1%
Current ratio	0.99×	0.88×	0.88×	0.99×	0.92×	0.88×	1.03×	1.07×
Debt / equity	1.27×	1.01×	1.15×	1.09×	0.98×	1.08×	1.01×	1.11×
Interest coverage	4.47×	3.37×	2.75×	6.02×	6.25×	6.51×	6.15×	11.87×
Dividend yield	0.6%	0.9%	0.7%	0.6%	0.4%	0.3%	0.0%	0.0%
Payout ratio	9.9%	7.9%	10.8%	10.2%	11.9%	7.2%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.6%	16.0%	13.5%	15.7%	19.1%	13.7%	11.6%	11.6%
Return on invested capital	8.0%	8.5%	7.7%	6.4%	6.6%	6.5%	7.1%	5.7%
Return on assets	2.9%	4.5%	3.5%	4.1%	5.1%	3.3%	2.8%	2.6%
Free cash flow yield	4.9%	3.8%	2.8%	7.7%	2.8%	8.0%	44.9%	-5.1%
Earnings yield	5.5%	11.1%	6.1%	5.6%	3.6%	4.5%	9.4%	6.5%
Enterprise value	€1.3B	€882M	€1B	€1B	€1.5B	€782.7M	€292.4M	€324M
Net debt / EBITDA	2.59×	2.22×	2.62×	2.29×	1.87×	2.66×	1.34×	2.77×
Cash conversion cycle (days)	-29	4	10	12	8	2	6	23