Djurslands Bank A/S (DJUR.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

+300.5%

DKK 4,645.27

vs DKK 1,160.00 price

Levered DCF

DKK 748.03

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

-0.57

Distress zone

Rating

A-

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	9.66×	6.09×	5.01×	7.28×	7.79×	15.28×	6.14×	9.36×
P/B	1.26×	0.85×	0.74×	0.68×	0.7×	0.66×	0.6×	0.65×
P/S	3.08×	1.89×	1.65×	2.12×	2.33×	2.11×	1.73×	1.92×
EV / EBITDA	3.55×	0.09×	-0.2×	-1.05×	-1.19×	-12.73×	-3.93×	2.82×
Gross margin	93.1%	84.2%	90.6%	102.3%	104.1%	101.7%	97.7%	97.2%
Operating margin	41.7%	41.1%	43.4%	36.0%	37.0%	16.4%	35.1%	24.0%
Net margin	31.8%	31.0%	33.0%	29.1%	30.0%	13.8%	28.2%	20.5%
Current ratio	479.34×	0.14×	0.13×	0.13×	0.12×	0.18×	0.15×	0.08×
Debt / equity	0.17×	0.15×	0.14×	0.16×	0.1×	0.04×	0.04×	0.21×
Interest coverage	4.62×	2.6×	4.6×	0×	0×	0×	15.1×	8.54×
Dividend yield	3.3%	5.4%	2.2%	2.4%	0.0%	2.8%	2.4%	2.8%
Payout ratio	31.8%	32.6%	11.2%	17.6%	0.0%	42.4%	14.6%	26.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.0%	13.9%	14.9%	9.3%	9.0%	4.3%	9.7%	6.9%
Return on invested capital	1.5%	10.3%	11.4%	6.8%	6.8%	3.2%	7.4%	6.3%
Return on assets	1.5%	1.6%	1.8%	1.1%	1.0%	0.5%	1.1%	0.8%
Free cash flow yield	0.0%	0.0%	0.0%	3.1%	2.0%	3.0%	-0.8%	11.4%
Earnings yield	10.3%	16.4%	20.0%	13.7%	12.8%	6.5%	16.3%	10.7%
Enterprise value	DKK 1.2B	DKK 32.3M	-DKK 65.1M	-DKK 183.3M	-DKK 181.2M	-DKK 913.8M	-DKK 570.2M	DKK 257.5M
Net debt / EBITDA	-3.63×	-4.32×	-3.85×	-6.45×	-7.11×	-23.5×	-8.64×	-4.6×
Cash conversion cycle (days)	2	4	7	7	3	5	5	0