Vitruvio Real Estate SOCIMI, S.A. (YVIT.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

+80.0%

€32.40

vs €18.00 price

Levered DCF

€16.55

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

2.03

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	22.78×	30×	36.76×	34.85×	51.9×	-11.8×	40×	42.06×
P/B	1.19×	1.19×	1.13×	0.96×	0.92×	0.99×	1.1×	1.14×
P/S	16.96×	13.25×	14.53×	11.43×	11.26×	12.67×	13.76×	13.99×
EV / EBITDA	21.73×	28.54×	27.56×	25.55×	34.26×	-25.96×	32.19×	30.11×
Gross margin	37.5%	98.6%	96.2%	96.5%	95.9%	95.7%	96.6%	98.8%
Operating margin	38.2%	57.1%	47.2%	45.0%	39.3%	-93.9%	45.7%	42.5%
Net margin	74.4%	44.1%	39.1%	32.6%	21.7%	-107.8%	34.3%	32.9%
Current ratio	5.37×	10.54×	2.3×	0.68×	0.74×	0.43×	1.24×	3.43×
Debt / equity	0.42×	0.43×	0.37×	0.4×	0.49×	0.53×	0.58×	0.49×
Interest coverage	1.88×	2.76×	3.21×	3.98×	3.07×	-6.1×	3.52×	3.13×
Dividend yield	2.1%	3.1%	2.9%	3.5%	2.8%	2.2%	1.7%	1.3%
Payout ratio	48.4%	93.8%	108.3%	122.1%	143.1%	-26.0%	67.0%	55.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.2%	4.0%	3.0%	2.7%	1.8%	-8.4%	2.7%	2.7%
Return on invested capital	1.8%	3.2%	2.6%	2.4%	2.0%	-4.5%	2.3%	2.2%
Return on assets	3.5%	2.5%	2.1%	1.8%	1.1%	-5.1%	1.7%	1.7%
Free cash flow yield	-0.3%	5.5%	2.1%	3.3%	5.7%	2.2%	3.6%	2.8%
Earnings yield	4.4%	3.3%	2.7%	2.8%	1.9%	-8.5%	2.5%	2.4%
Enterprise value	€330.3M	€161M	€153M	€131.3M	€135.6M	€146.7M	€161.4M	€112.6M
Net debt / EBITDA	5.67×	5.08×	5.06×	7.26×	11.76×	-8.92×	10.68×	8.24×
Cash conversion cycle (days)	-54	-130	-576	-447	-587	-599	-673	-2,600