Berentzen-Gruppe AG (BEZ.DE) 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

+35.8%

€7.71

vs €5.68 price

Levered DCF

-€1.77

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.88

Grey zone

Rating

B-

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	14.52×	-29.08×	62.98×	26.09×	16.26×	42.62×	13.15×	11.51×
P/B	0.72×	0.77×	1.15×	1.08×	1.22×	1.1×	1.31×	1.25×
P/S	0.21×	0.2×	0.29×	0.31×	0.41×	0.34×	0.38×	0.37×
EV / EBITDA	2.5×	3.16×	4.12×	3.04×	2.68×	2.83×	2.96×	3.13×
Gross margin	21.5%	44.2%	20.4%	45.5%	46.9%	43.4%	44.6%	44.2%
Operating margin	3.9%	6.0%	2.6%	3.6%	3.2%	4.1%	5.5%	5.6%
Net margin	1.5%	-0.7%	0.5%	1.2%	2.5%	0.8%	2.9%	3.2%
Current ratio	1.01×	1.14×	1.1×	1.03×	1.04×	1.12×	1.11×	1.09×
Debt / equity	0.29×	0.32×	0.3×	0.06×	0.21×	0.22×	0.2×	0.17×
Interest coverage	1.82×	2.27×	1.18×	3.69×	3.24×	4.08×	5.61×	5.57×
Dividend yield	3.0%	2.4%	3.8%	3.8%	2.1%	5.1%	4.1%	3.5%
Payout ratio	43.7%	-67.5%	239.0%	98.4%	33.3%	213.3%	53.4%	40.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.0%	-2.7%	1.8%	4.2%	7.5%	2.6%	10.0%	10.9%
Return on invested capital	5.5%	15.7%	2.8%	5.2%	4.8%	5.2%	8.9%	9.3%
Return on assets	1.8%	-0.9%	0.6%	1.4%	2.6%	0.8%	3.2%	3.6%
Free cash flow yield	16.8%	1.5%	-23.0%	-7.7%	5.3%	16.3%	14.7%	-2.0%
Earnings yield	6.9%	-3.5%	1.6%	3.9%	6.1%	2.4%	7.7%	8.7%
Enterprise value	€37.4M	€41M	€60M	€43.2M	€41.3M	€36M	€51.5M	€51.9M
Net debt / EBITDA	0.22×	0.42×	0.38×	-0.75×	-1.18×	-1.26×	-0.73×	-0.46×
Cash conversion cycle (days)	136	161	132	167	165	166	171	179