Vantea SMART S.p.A. (VNT.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

-43.8%

€0.36

vs €0.64 price

Levered DCF

-€1.14

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

1.13

Distress zone

Rating

C+

Overall 2 / 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
P/E	47.17×	27.85×	54×	219.68×	53.79×	28.18×	31×
P/B	1.13×	1.22×	2.7×	4.42×	7.31×	7.2×	9.7×
P/S	1.55×	1.52×	3.33×	5.66×	2.63×	2.08×	5×
EV / EBITDA	11.77×	9.04×	15.6×	34.68×	29.42×	18.31×	22.6×
Gross margin	15.3%	55.0%	38.7%	54.9%	13.8%	15.2%	28.5%
Operating margin	3.4%	14.6%	15.8%	12.8%	5.4%	12.2%	10.9%
Net margin	3.3%	5.5%	6.2%	2.6%	4.8%	7.6%	16.6%
Current ratio	1.71×	1.63×	2.5×	2.16×	2.76×	1.59×	2.41×
Debt / equity	0.45×	0.42×	0.6×	0.71×	1.01×	0.29×	0.28×
Interest coverage	1.27×	4.96×	5.82×	3.33×	16.16×	69.38×	54.08×
Dividend yield	2.6%	4.6%	1.6%	0.7%	0.3%	0.0%	0.0%
Payout ratio	122.9%	128.1%	86.5%	155.2%	14.6%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	2.4%	4.4%	5.0%	2.0%	13.4%	26.5%	32.2%
Return on invested capital	0.5%	4.6%	4.4%	2.2%	5.4%	22.3%	10.8%
Return on assets	1.0%	2.0%	1.9%	0.6%	4.5%	11.1%	14.4%
Free cash flow yield	-8.6%	-26.8%	13.1%	-8.1%	-9.7%	-3.1%	0.1%
Earnings yield	2.1%	3.6%	1.9%	0.5%	1.8%	3.7%	3.3%
Enterprise value	€14.9M	€17.5M	€31.1M	€55.5M	€94.5M	€37.5M	€36.6M
Net debt / EBITDA	1.98×	1.91×	-0.35×	1.76×	1.45×	0.16×	-0.37×
Cash conversion cycle (days)	378	204	164	547	83	23	139