Uzin Utz AG (UZU.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

+10.3%

€73.67

vs €66.80 price

Levered DCF

€33.74

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.27

Safe zone

Rating

A-

Overall 4 / 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	13.36×	8.32×	9.96×	10.08×	12.79×	9.44×	14.1×	18.29×
P/B	1.2×	0.88×	0.87×	1.06×	1.91×	1.45×	1.78×	1.61×
P/S	0.7×	0.51×	0.47×	0.52×	0.96×	0.72×	0.81×	0.72×
EV / EBITDA	6.27×	4.35×	5.28×	6.09×	7.04×	5.39×	7.98×	9.44×
Gross margin	59.1%	58.5%	53.2%	24.5%	26.3%	26.8%	25.9%	54.5%
Operating margin	7.9%	9.0%	7.2%	7.5%	10.8%	10.5%	9.1%	5.9%
Net margin	5.2%	6.2%	4.7%	5.2%	7.5%	7.6%	5.7%	3.9%
Current ratio	1.87×	1.74×	1.59×	1.56×	1.71×	1.82×	1.73×	1.83×
Debt / equity	0.27×	0.29×	0.37×	0.4×	0.28×	0.32×	0.48×	0.54×
Interest coverage	11.12×	11.8×	9.81×	38.87×	63.35×	35.94×	21.87×	16.98×
Dividend yield	2.7%	3.3%	3.6%	3.6%	1.9%	2.4%	2.2%	2.6%
Payout ratio	36.2%	27.4%	35.7%	35.9%	23.7%	22.6%	31.6%	48.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.0%	10.5%	8.8%	10.5%	14.9%	15.3%	12.6%	8.8%
Return on invested capital	7.2%	8.3%	6.7%	7.5%	11.3%	11.1%	9.2%	6.0%
Return on assets	5.9%	6.8%	5.4%	6.1%	9.0%	9.1%	6.8%	4.6%
Free cash flow yield	3.6%	15.7%	12.7%	-13.2%	1.7%	14.9%	6.0%	-0.3%
Earnings yield	7.5%	12.0%	10.0%	9.9%	7.8%	10.6%	7.1%	5.5%
Enterprise value	€388.4M	€282M	€282.5M	€326.2M	€444.8M	€296.5M	€354.9M	€303.6M
Net debt / EBITDA	0.57×	0.57×	1.07×	1.32×	0.37×	0.4×	1.23×	1.72×
Cash conversion cycle (days)	133	121	116	97	75	71	87	121