Waga Energy S.A. (WAGA.PA) 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

-2086.2%

-€443.91

vs €22.35 price

Levered DCF

-€415.57

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

1.01

Distress zone

Rating

D+

Overall 1 / 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	-22.07×	-21.62×	-32.63×	-57×	-67.38×	-238.18×	-270.94×	-306.43×
P/B	6.05×	2.89×	5.47×	5.25×	4.65×	74.01×	70.29×	-507.48×
P/S	11.2×	6.8×	15.66×	29.93×	44×	52.8×	60.46×	87.27×
EV / EBITDA	-506.18×	-129.1×	-81.45×	-101.13×	-192.9×	337.77×	530.79×	567.89×
Gross margin	0.8%	-6.2%	43.1%	60.6%	59.1%	6.0%	54.0%	69.7%
Operating margin	-20.0%	-24.6%	-42.5%	-43.3%	-34.6%	-10.7%	-4.7%	-14.3%
Net margin	-50.9%	-31.6%	-48.1%	-52.6%	-65.7%	-23.0%	-22.3%	-28.5%
Current ratio	1.81×	2.54×	1.96×	3.81×	4.24×	2.12×	2.09×	0.91×
Debt / equity	2.01×	0.88×	0.64×	0.45×	0.33×	4.23×	2.41×	-26.74×
Interest coverage	-1.2×	-4.72×	-7.67×	-5.24×	-1.23×	-0.94×	-0.28×	-0.99×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	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	-27.5%	-13.4%	-16.8%	-9.2%	-7.0%	-32.3%	-25.9%	165.6%
Return on invested capital	-3.4%	-5.2%	-8.5%	-4.9%	-2.7%	-2.6%	-1.4%	-2.2%
Return on assets	-7.5%	-6.0%	-8.2%	-5.3%	-4.8%	-5.1%	-6.0%	-3.6%
Free cash flow yield	-17.2%	-18.8%	-11.9%	-8.4%	-2.6%	-0.6%	-0.9%	-2.8%
Earnings yield	-4.5%	-4.6%	-3.1%	-1.8%	-1.5%	-0.4%	-0.4%	-0.3%
Enterprise value	€829.1M	€439.2M	€542.9M	€531.2M	€454.9M	€512.1M	€509M	€296.4M
Net debt / EBITDA	-98.73×	-17.76×	-3.32×	8.02×	35.91×	8.29×	9.94×	16.66×
Cash conversion cycle (days)	162	169	192	179	-168	-68	-110	-607