Continental AG (CON.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

-35.9%

€42.87

vs €66.88 price

Levered DCF

€15.33

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.16

Grey zone

Rating

C-

Overall 1 / 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	-81.88×	11.1×	13.41×	99.96×	12.97×	-23.49×	-17.52×	7.4×
P/B	3.46×	0.9×	1.13×	0.84×	1.53×	1.76×	1.33×	1.2×
P/S	0.69×	0.65×	0.37×	0.28×	0.55×	0.68×	0.46×	0.48×
EV / EBITDA	9.91×	5.32×	4.69×	4.1×	5.33×	7.71×	5.02×	3.7×
Gross margin	26.0%	26.4%	21.3%	19.2%	22.9%	23.5%	23.8%	25.0%
Operating margin	7.8%	9.3%	1.9%	0.0%	2.4%	-2.3%	-0.6%	9.1%
Net margin	-0.8%	5.8%	2.8%	0.2%	4.3%	-3.0%	-2.8%	6.5%
Current ratio	1.28×	1.26×	1.2×	1.14×	1.25×	1.16×	1.06×	1.07×
Debt / equity	1.74×	0.5×	0.52×	0.58×	0.51×	0.6×	0.49×	0.26×
Interest coverage	4.34×	5.12×	1.84×	0.06×	4.4×	-2.7×	-0.85×	14.58×
Dividend yield	3.7%	3.4%	1.9%	3.9%	0.0%	2.8%	4.6%	4.2%
Payout ratio	-303.0%	37.7%	26.0%	660.7%	0.0%	-62.4%	-77.6%	31.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-4.2%	8.1%	8.5%	0.5%	11.8%	-7.8%	-8.0%	16.2%
Return on invested capital	12.3%	5.6%	2.3%	0.0%	2.6%	-2.4%	-0.9%	11.1%
Return on assets	-0.9%	3.2%	3.1%	0.2%	4.0%	-2.4%	-2.9%	7.2%
Free cash flow yield	8.2%	7.7%	7.6%	1.1%	5.8%	2.7%	5.8%	7.9%
Earnings yield	-1.2%	9.0%	7.5%	0.6%	7.7%	-4.5%	-6.0%	13.5%
Enterprise value	€18.9B	€17.2B	€19.7B	€16.4B	€22.9B	€26.2B	€25B	€23.5B
Net debt / EBITDA	2.79×	1.31×	1.01×	1.31×	0.99×	1.38×	0.9×	0.32×
Cash conversion cycle (days)	79	125	69	64	67	74	40	34