Deutz AG (DEZ.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

-52.0%

€4.55

vs €9.47 price

Levered DCF

€0.96

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.07

Grey 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	22.97×	10.36×	7.38×	6.14×	20.53×	-5.73×	12.95×	9.05×
P/B	1.25×	0.63×	0.82×	0.73×	1.35×	1.15×	1.03×	1.03×
P/S	0.6×	0.29×	0.29×	0.25×	0.49×	0.48×	0.37×	0.36×
EV / EBITDA	8.17×	5.51×	3.5×	3.35×	7.04×	-41.19×	4.16×	3.34×
Gross margin	19.8%	22.1%	21.7%	18.5%	16.8%	14.3%	17.9%	17.5%
Operating margin	4.2%	3.1%	6.3%	4.6%	2.3%	-5.8%	4.3%	4.1%
Net margin	2.6%	2.9%	4.0%	4.1%	2.4%	-8.3%	2.8%	3.9%
Current ratio	1.14×	1.3×	1.33×	1.22×	1.22×	1.25×	1.45×	1.6×
Debt / equity	0.34×	0.34×	0.34×	0.33×	0.2×	0.28×	0.11×	0.06×
Interest coverage	4.27×	2.72×	7.94×	12.42×	7.15×	-17.37×	27.17×	30.33×
Dividend yield	1.9%	4.0%	3.1%	3.7%	0.0%	0.0%	2.7%	2.9%
Payout ratio	44.0%	41.3%	23.1%	22.7%	0.0%	0.0%	34.6%	25.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.5%	6.1%	11.0%	12.0%	6.5%	-20.1%	8.0%	11.3%
Return on invested capital	5.8%	4.5%	11.3%	8.9%	4.3%	-9.1%	6.0%	6.0%
Return on assets	2.7%	3.1%	5.2%	5.4%	3.0%	-9.1%	4.0%	5.6%
Free cash flow yield	3.5%	7.0%	9.9%	-0.1%	4.0%	-5.0%	2.8%	2.9%
Earnings yield	4.4%	9.7%	13.5%	16.4%	4.8%	-17.5%	7.8%	11.0%
Enterprise value	€1.5B	€760.6M	€771.7M	€653.7M	€873.8M	€700.2M	€688.4M	€540.8M
Net debt / EBITDA	1.48×	1.63×	0.74×	0.84×	0.64×	-4.93×	0.09×	-0.58×
Cash conversion cycle (days)	89	94	81	78	64	73	65	30