yarrl S.A. (YRL.WA) 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

-1429.2%

-PLN 73.64

vs PLN 5.54 price

Levered DCF

-PLN 68.39

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.12

Grey 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	22.27×	13.37×	14.17×	-1.44×	-16.7×	-9.53×	4.6×	11.42×
P/B	1.43×	1.51×	0.7×	16.67×	1.06×	0.63×	0.46×	0.48×
P/S	0.48×	0.67×	0.65×	0.59×	0.37×	0.2×	0.14×	0.14×
EV / EBITDA	9.31×	9.81×	7×	-2.43×	-18.56×	14.9×	2.2×	4.11×
Gross margin	14.4%	16.3%	20.4%	-1.9%	10.0%	14.1%	21.4%	18.3%
Operating margin	3.7%	5.6%	6.1%	-35.7%	-4.0%	-1.6%	4.5%	1.9%
Net margin	2.1%	5.0%	4.6%	-41.2%	-2.2%	-2.1%	2.9%	1.2%
Current ratio	1.62×	1.77×	1.45×	0.47×	1.24×	1.43×	1.3×	1.31×
Debt / equity	0.08×	0.06×	0.2×	6.44×	0.13×	0.27×	0.21×	0.16×
Interest coverage	28.61×	8.84×	2.54×	-32.08×	-18.99×	-4.94×	17.07×	8.12×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	4.7%	0.0%	5.3%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	-44.2%	0.0%	61.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.3%	11.3%	5.0%	-1159.7%	-6.4%	-6.7%	10.0%	4.2%
Return on invested capital	10.0%	11.6%	5.4%	-123.2%	-5.0%	-3.8%	9.3%	4.3%
Return on assets	4.3%	7.9%	3.3%	-85.6%	-3.0%	-3.8%	4.8%	2.3%
Free cash flow yield	10.8%	-4.7%	-2.4%	-50.4%	3.0%	7.2%	16.8%	32.7%
Earnings yield	4.4%	7.5%	7.1%	-69.6%	-6.0%	-10.6%	21.6%	8.6%
Enterprise value	PLN 43.6M	PLN 48M	PLN 17.3M	PLN 22M	PLN 11.1M	PLN 8.2M	PLN 7.1M	PLN 6.3M
Net debt / EBITDA	-0.61×	-0.07×	-1.07×	-0.65×	2.14×	0.67×	0.26×	0.26×
Cash conversion cycle (days)	12	37	46	27	18	32	38	15