DFDS A/S (DFDS.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

+902.8%

DKK 1,656.62

vs DKK 165.20 price

Levered DCF

DKK 1,217.45

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.58

Distress 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	-12.09×	13.79×	8.45×	7.3×	20.91×	36.4×	14.2×	9.48×
P/B	0.39×	0.53×	0.92×	1.13×	1.75×	1.5×	1.81×	1.68×
P/S	0.17×	0.25×	0.46×	0.55×	1.12×	1.13×	1.12×	0.98×
EV / EBITDA	5.57×	5.44×	5.48×	5.73×	9.72×	10.44×	8.68×	8.15×
Gross margin	5.5%	12.3%	15.0%	15.1%	11.0%	9.9%	14.7%	16.6%
Operating margin	0.9%	5.1%	8.5%	9.2%	7.5%	5.3%	9.9%	11.8%
Net margin	-1.4%	1.8%	5.5%	7.5%	5.4%	3.1%	7.9%	10.4%
Current ratio	0.78×	0.97×	0.83×	0.74×	0.72×	1.15×	1.04×	0.98×
Debt / equity	1.25×	1.33×	1.12×	1.19×	1.25×	1.2×	1.24×	1.01×
Interest coverage	0.39×	1.98×	3.38×	6.07×	4.42×	2.67×	6.32×	13.56×
Dividend yield	0.0%	2.3%	2.2%	3.1%	0.0%	0.0%	1.2%	1.4%
Payout ratio	0.0%	31.5%	18.7%	22.8%	0.0%	0.0%	17.5%	13.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-3.2%	3.9%	10.9%	15.4%	8.4%	4.1%	12.7%	17.8%
Return on invested capital	0.9%	3.6%	7.1%	8.0%	4.6%	2.9%	6.7%	9.4%
Return on assets	-1.2%	1.4%	4.3%	5.9%	3.1%	1.6%	4.9%	7.4%
Free cash flow yield	35.2%	24.9%	17.0%	11.1%	7.9%	5.1%	1.9%	6.6%
Earnings yield	-8.3%	7.2%	11.8%	13.7%	4.8%	2.7%	7.0%	10.6%
Enterprise value	DKK 20.2B	DKK 24.2B	DKK 27.4B	DKK 29B	DKK 33.5B	DKK 27.2B	DKK 30.5B	DKK 23.9B
Net debt / EBITDA	4.14×	3.78×	2.94×	2.83×	3.9×	4.38×	3.39×	2.89×
Cash conversion cycle (days)	2	8	10	-7	-7	-2	9	-8