Hotei Properties Group Socimi S.A. (YHTI.MC) 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

+904.4%

€18.38

vs €1.83 price

Levered DCF

-€4.30

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.93

Distress zone

Rating

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	FY2018
P/E	17.38×	28.42×	-142.29×	30×	26×	-13.45×	8.86×	144.98×
P/B	0.84×	0.58×	0.78×	0.67×	0.67×	0.74×	0.76×	3.27×
P/S	11.43×	12.02×	18.8×	29.23×	29.41×	25.24×	44.35×	71.03×
EV / EBITDA	15.61×	24.42×	162.37×	29.05×	27.63×	377.25×	10.56×	148.22×
Gross margin	74.4%	97.1%	99.0%	100.0%	100.0%	52.9%	78.1%	82.8%
Operating margin	49.1%	63.6%	11.9%	114.2%	127.2%	0.6%	-54.6%	49.7%
Net margin	65.8%	42.3%	-13.2%	95.6%	111.9%	-187.6%	498.9%	57.8%
Current ratio	8.58×	1.26×	2.4×	3.38×	2.87×	0×	0×	0×
Debt / equity	0.44×	0.38×	0.31×	0.24×	0.31×	0.34×	0.35×	0.56×
Interest coverage	2.17×	2.66×	0.48×	8.31×	9.17×	0.05×	-3.74×	0×
Dividend yield	56.1%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	973.0%	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	4.8%	2.0%	-0.5%	2.2%	2.5%	-5.5%	8.5%	2.7%
Return on invested capital	2.3%	2.2%	0.3%	2.1%	2.2%	0.0%	-0.7%	1.2%
Return on assets	3.0%	1.4%	-0.4%	1.7%	1.8%	-3.9%	6.1%	1.6%
Free cash flow yield	1.8%	1.4%	1.9%	-0.9%	-3.1%	1.9%	-1.4%	1.0%
Earnings yield	5.8%	3.5%	-0.7%	3.3%	3.8%	-7.4%	11.3%	0.8%
Enterprise value	€459.4M	€451.6M	€551.3M	€416.4M	€312.7M	€273.2M	€249M	€208M
Net debt / EBITDA	4.67×	7.28×	39.61×	3.92×	5.62×	98.76×	1.97×	9.23×
Cash conversion cycle (days)	80	-8,151	-37,004	-33,292	-31,865	-382	8	-33