Coloplast A/S (COLO-B.CO) 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

-9.2%

DKK 425.12

vs DKK 468.10 price

Levered DCF

DKK 273.68

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.57

Safe zone

Rating

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	33.66×	38.96×	33.66×	35.02×	44.4×	50.84×	45.23×	36.72×
P/B	7.59×	10.97×	9.31×	19.88×	26.22×	28.81×	25.34×	22×
P/S	4.39×	7.28×	6.57×	7.3×	11.03×	11.5×	9.76×	8.58×
EV / EBITDA	17.28×	25.52×	23.24×	25.34×	30.57×	33.84×	30.96×	25.05×
Gross margin	65.1%	67.6%	66.6%	68.8%	68.5%	68.0%	67.7%	67.3%
Operating margin	27.2%	27.1%	27.6%	28.5%	32.7%	31.6%	28.7%	31.0%
Net margin	13.0%	18.7%	19.5%	20.8%	24.8%	22.6%	21.6%	23.4%
Current ratio	1.61×	1.02×	0.61×	1.2×	1.11×	1.3×	1.29×	1.19×
Debt / equity	1.4×	1.26×	1.13×	2.26×	0.34×	0.24×	0.17×	0.21×
Interest coverage	9.19×	8.3×	9.42×	26.83×	111.49×	92.92×	95.48×	115.7×
Dividend yield	4.1%	2.4%	2.6%	2.5%	1.8%	1.7%	1.9%	2.3%
Payout ratio	136.4%	93.4%	88.8%	85.9%	79.4%	86.1%	87.7%	85.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	22.6%	28.2%	27.6%	56.8%	59.1%	56.7%	56.0%	59.9%
Return on invested capital	10.1%	13.4%	13.7%	16.8%	41.5%	45.7%	44.8%	46.9%
Return on assets	7.5%	10.5%	9.9%	13.5%	30.5%	31.1%	30.4%	32.7%
Free cash flow yield	4.4%	0.8%	1.9%	2.4%	1.6%	1.8%	2.1%	2.6%
Earnings yield	3.0%	2.6%	3.0%	2.9%	2.3%	2.0%	2.2%	2.7%
Enterprise value	DKK 144.1B	DKK 218.6B	DKK 179.7B	DKK 183.2B	DKK 216.5B	DKK 214.8B	DKK 176B	DKK 142.3B
Net debt / EBITDA	2.6×	2.55×	2.41×	2.53×	0.33×	0.22×	0.15×	0.19×
Cash conversion cycle (days)	165	158	168	171	148	151	136	134