VERBIO Vereinigte BioEnergie AG (VBK.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

-116.7%

-€4.45

vs €26.74 price

Levered DCF

-€8.97

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

4.01

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	29.8×	-5.63×	55.9×	17.72×	9.62×	28.86×	9.21×	9.17×
P/B	2.33×	1.04×	1.19×	2.57×	3.72×	5.3×	1.51×	1.43×
P/S	1.02×	0.49×	0.66×	1.19×	1.67×	2.63×	0.67×	0.62×
EV / EBITDA	11.02×	-18.05×	9.56×	9.71×	5.63×	15.83×	4.72×	4.48×
Gross margin	18.0%	2.3%	17.6%	19.4%	34.6%	26.5%	22.8%	20.7%
Operating margin	6.8%	-5.1%	4.2%	10.1%	25.5%	13.3%	10.5%	9.5%
Net margin	3.4%	-8.7%	1.2%	6.7%	17.4%	9.1%	7.3%	6.8%
Current ratio	1.7×	1.8×	2.71×	2.58×	2.6×	2.97×	2.87×	2.67×
Debt / equity	0.27×	0.36×	0.21×	0.21×	0.06×	0.09×	0.12×	0.03×
Interest coverage	0×	-5.96×	6.55×	106.51×	142.69×	95.21×	56.57×	98.12×
Dividend yield	0.0%	1.6%	1.2%	0.5%	0.4%	0.5%	2.2%	2.6%
Payout ratio	0.0%	-9.2%	63.6%	9.6%	4.0%	13.5%	19.9%	23.8%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	7.8%	-18.5%	2.2%	14.5%	38.7%	18.4%	16.3%	15.6%
Return on invested capital	6.2%	-7.5%	2.0%	11.9%	43.5%	16.8%	14.5%	15.8%
Return on assets	4.7%	-10.8%	1.4%	10.2%	28.0%	13.7%	12.0%	12.5%
Free cash flow yield	4.1%	-15.2%	-4.9%	-7.6%	6.9%	1.9%	0.6%	9.1%
Earnings yield	3.4%	-17.7%	1.8%	5.6%	10.4%	3.5%	10.8%	10.9%
Enterprise value	€2B	€982M	€1.2B	€2.4B	€2.8B	€2.6B	€580.3M	€427.1M
Net debt / EBITDA	0.71×	-3.76×	0.58×	0.08×	-0.51×	-0.35×	-0.05×	-0.61×
Cash conversion cycle (days)	60	68	58	52	45	52	48	37