Delignit AG (DLX.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

+268.6%

€9.14

vs €2.48 price

Levered DCF

€15.51

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.6

Safe 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	12.11×	20.55×	12.44×	18.41×	29.41×	25.04×	28.53×	17.26×
P/B	0.62×	0.62×	1.11×	1.92×	2.94×	2.37×	2.03×	2.35×
P/S	0.37×	0.36×	0.47×	0.68×	1.02×	0.87×	0.62×	0.73×
EV / EBITDA	3.18×	3.95×	4.9×	8.69×	13.69×	9.9×	10.24×	9.35×
Gross margin	12.9%	44.0%	14.1%	12.1%	12.5%	12.0%	9.7%	41.1%
Operating margin	4.1%	2.3%	5.3%	5.3%	4.8%	5.2%	3.1%	6.5%
Net margin	3.0%	1.7%	3.8%	3.7%	3.4%	3.5%	2.2%	4.3%
Current ratio	4.78×	4.44×	4.52×	2.6×	2.04×	2.03×	1.55×	1.41×
Debt / equity	0.09×	0.1×	0.12×	0.28×	0.28×	0.39×	0.56×	0.44×
Interest coverage	12.78×	7.31×	18.69×	19×	22.11×	12.15×	7×	21.47×
Dividend yield	2.2%	3.5%	1.3%	0.0%	0.4%	0.0%	1.0%	0.9%
Payout ratio	26.3%	74.1%	15.8%	0.0%	10.5%	0.0%	29.3%	15.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.1%	3.0%	8.8%	10.4%	9.8%	9.6%	7.1%	13.8%
Return on invested capital	4.5%	2.5%	7.8%	7.9%	7.6%	7.2%	4.2%	10.3%
Return on assets	4.0%	2.3%	6.7%	6.6%	5.9%	5.5%	3.5%	6.7%
Free cash flow yield	5.9%	11.4%	10.4%	2.4%	-4.1%	10.8%	6.8%	-6.6%
Earnings yield	8.3%	4.8%	7.9%	5.4%	3.3%	4.1%	3.5%	5.9%
Enterprise value	€16M	€16M	€34.8M	€56.4M	€76.3M	€55M	€49.3M	€51.7M
Net debt / EBITDA	-1.5×	-1.75×	-0.83×	0.78×	1.15×	0.66×	1.99×	1.42×
Cash conversion cycle (days)	103	125	81	97	105	85	80	107