Digia Oyj (DIGIA.HE) 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

+371.9%

€23.88

vs €5.06 price

Levered DCF

€21.95

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.93

Grey zone

Rating

Overall 4 / 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	13.55×	13.32×	14.86×	15.86×	16×	18.8×	14.78×	15.78×
P/B	1.86×	2.11×	1.94×	2.13×	2.76×	3.3×	2×	1.59×
P/S	0.8×	0.86×	0.76×	0.88×	1.2×	1.44×	0.81×	0.68×
EV / EBITDA	7.8×	7.4×	8.2×	8.56×	8.94×	10.47×	8.43×	9.89×
Gross margin	8.2%	23.2%	22.5%	23.1%	25.4%	26.4%	26.1%	15.0%
Operating margin	8.4%	8.9%	7.2%	7.5%	9.4%	10.1%	7.3%	5.8%
Net margin	5.9%	6.5%	5.1%	5.6%	7.5%	7.6%	5.4%	4.2%
Current ratio	1.19×	0.9×	0.86×	0.86×	1.01×	1×	1.01×	0.89×
Debt / equity	0.51×	0.36×	0.49×	0.45×	0.42×	0.44×	0.53×	0.3×
Interest coverage	10.41×	14.34×	10.68×	26.51×	28.67×	34.06×	26.51×	10.21×
Dividend yield	2.7%	2.6%	3.1%	3.0%	2.1%	1.3%	1.8%	1.4%
Payout ratio	37.1%	33.9%	45.8%	47.0%	34.0%	25.1%	26.3%	22.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.7%	15.9%	13.1%	13.4%	17.3%	17.5%	13.3%	9.8%
Return on invested capital	9.6%	12.4%	9.3%	9.1%	11.7%	12.3%	9.0%	8.0%
Return on assets	6.5%	8.1%	5.9%	6.0%	8.2%	8.8%	6.2%	5.3%
Free cash flow yield	8.1%	14.0%	11.5%	8.7%	7.9%	11.1%	11.4%	3.9%
Earnings yield	7.4%	7.5%	6.7%	6.3%	6.3%	5.3%	6.7%	6.2%
Enterprise value	€197.8M	€188M	€171.5M	€168.6M	€198.3M	€211.2M	€128.7M	€88.5M
Net debt / EBITDA	0.94×	0.46×	1.19×	0.89×	0.48×	0.52×	1.48×	1.42×
Cash conversion cycle (days)	73	43	62	43	57	50	81	-51