Immo-Zenobe Gramme S.A. (ZEN.BR) 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

-477.1%

-€799.46

vs €212.00 price

Levered DCF

-€12.80

After debt service

Piotroski score

—

Altman Z-score

—

Rating

—

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
P/E	0×	0×	0×	0×	0×	2,103.52×	-5,877.86×	-841,500×
P/B	0×	0×	0×	0×	0×	0×	127.13×	136×
P/S	0×	0×	0×	0×	0×	0×	4.76×	5.31×
EV / EBITDA	0.4×	-0.08×	0.79×	0.85×	1.06×	4.95×	11.21×	7.93×
Gross margin	81.8%	84.0%	85.3%	83.8%	84.3%	86.2%	85.3%	82.4%
Operating margin	44.0%	48.0%	53.8%	49.8%	49.6%	53.4%	50.4%	45.8%
Net margin	0.0%	0.0%	0.0%	-0.2%	-0.0%	0.3%	-0.1%	-0.0%
Current ratio	0.27×	1.4×	1.02×	0.5×	0.41×	0.7×	0.71×	0.7×
Debt / equity	18.85×	18.85×	32.91×	32.65×	38.37×	128.97×	147.72×	44.59×
Interest coverage	1.07×	1.06×	1.08×	1.08×	1.08×	1.1×	1.11×	1.14×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	6.1%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-5184330.5%

Key metrics by fiscal year

Metric	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017
Return on equity	0.0%	0.0%	0.0%	-5.6%	-0.0%	7.0%	-2.2%	-0.0%
Return on invested capital	0.0%	0.0%	0.0%	-0.8%	-0.0%	0.7%	-0.2%	-0.0%
Return on assets	0.0%	0.0%	0.0%	-0.0%	-0.0%	0.1%	-0.0%	-0.0%
Free cash flow yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Earnings yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-0.0%	-0.0%
Enterprise value	€793K	-€161K	€1.5M	€1.5M	€1.9M	€9.2M	€19.4M	€12.9M
Net debt / EBITDA	0.4×	-0.08×	0.79×	0.85×	1.06×	4.95×	5.7×	1.53×
Cash conversion cycle (days)	-135	-59	-95	-114	-170	-128	-53	-70