Warimpex Finanz- und Beteiligungs AG (WXF.VI) 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

-467.8%

-€1.75

vs €0.48 price

Levered DCF

€3.26

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.34

Distress 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	-9.72×	-0.35×	-1.62×	0.79×	4.67×	-2.01×	1.41×	9.09×
P/B	0.33×	0.41×	0.32×	0.2×	0.47×	0.54×	0.55×	0.49×
P/S	1.06×	1.38×	2.06×	0.7×	2.18×	2.32×	2.74×	1.85×
EV / EBITDA	27.6×	144.16×	-19.34×	18.51×	18.78×	65.95×	3.05×	16.34×
Gross margin	38.3%	24.5%	172.9%	46.1%	60.3%	56.0%	55.2%	58.1%
Operating margin	1.9%	-1.1%	103.6%	24.2%	47.3%	6.0%	141.4%	35.4%
Net margin	-10.9%	-394.3%	-126.3%	88.0%	45.9%	-115.7%	194.3%	20.2%
Current ratio	0.39×	0.17×	0.31×	0.55×	0.38×	0.45×	0.42×	0.9×
Debt / equity	2.11×	1.89×	1.78×	1.44×	1.81×	1.61×	1.02×	1.44×
Interest coverage	0.06×	-0.03×	1.49×	0.99×	1.87×	0×	6.35×	1.55×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	2.6%	3.7%	6.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	-5.3%	5.2%	54.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-3.4%	-116.3%	-19.5%	25.2%	9.8%	-26.8%	38.8%	5.3%
Return on invested capital	0.2%	-0.1%	4.7%	2.2%	2.7%	0.5%	12.2%	1.5%
Return on assets	-1.0%	-37.0%	-6.4%	9.4%	3.2%	-9.3%	17.2%	2.0%
Free cash flow yield	-14.8%	8.9%	25.0%	30.0%	3.6%	-1.7%	-15.4%	5.0%
Earnings yield	-10.3%	-284.8%	-61.3%	126.6%	21.1%	-49.8%	70.9%	10.9%
Enterprise value	€171.4M	€166.2M	€249.1M	€262.9M	€273.3M	€228.8M	€241.3M	€204.8M
Net debt / EBITDA	23.81×	118.33×	-16.33×	16.12×	14.77×	48.76×	1.95×	12.04×
Cash conversion cycle (days)	166	-53	-59	-35	-173	-70	-86	-286