Deutsche Grundstücksauktionen AG (DGR.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

-62.0%

€1.56

vs €4.10 price

Levered DCF

€0.43

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

5.57

Safe zone

Rating

C+

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	175.93×	-31.54×	-8.16×	22.35×	17.57×	13.2×	47.42×	15.7×
P/B	1.75×	2.39×	2.58×	3.31×	3.99×	2.76×	2.95×	2.77×
P/S	3.37×	4.72×	5.26×	4.78×	7.07×	4.78×	6.86×	4.09×
EV / EBITDA	-12.96×	-37.23×	-7.12×	13×	10.83×	7.51×	22.1×	11.44×
Gross margin	37.7%	95.7%	95.7%	59.9%	52.1%	57.7%	36.9%	97.2%
Operating margin	-27.8%	-22.4%	-41.3%	62.7%	55.3%	18.5%	-19.6%	27.6%
Net margin	1.9%	-15.2%	-64.6%	21.5%	40.2%	36.3%	14.4%	25.9%
Current ratio	5.16×	6.45×	11.17×	9.79×	6.46×	8.03×	11.11×	7.42×
Debt / equity	0.04×	0.03×	0.01×	0×	0×	0×	0×	0×
Interest coverage	-716.81×	0×	-18,468.88×	140,517.89×	36,185.32×	493.02×	-24,941.48×	5,077.69×
Dividend yield	0.0%	0.0%	6.3%	8.3%	5.5%	0.9%	6.8%	4.9%
Payout ratio	0.0%	0.0%	-51.1%	184.5%	96.5%	11.7%	323.5%	77.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	1.0%	-7.7%	-31.7%	14.8%	22.7%	21.0%	6.2%	17.6%
Return on invested capital	-13.1%	-10.9%	-16.9%	29.0%	21.1%	6.9%	-5.4%	12.6%
Return on assets	0.9%	-6.8%	-29.6%	13.6%	19.7%	17.9%	5.8%	15.7%
Free cash flow yield	0.0%	0.0%	0.0%	1.2%	0.8%	1.7%	1.7%	0.6%
Earnings yield	0.6%	-3.2%	-12.3%	4.5%	5.7%	7.6%	2.1%	6.3%
Enterprise value	€9M	€12.8M	€15M	€27.3M	€37.5M	€24.2M	€21.2M	€21.2M
Net debt / EBITDA	0.21×	0.85×	0.15×	-0.79×	-0.54×	-0.88×	-2.37×	-2.09×
Cash conversion cycle (days)	311	-219	-65	183	106	250	260	-301