DO & Co. Aktiengesellschaft (DOC.VI) 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

+262.7%

€758.09

vs €209.00 price

Levered DCF

€642.71

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

4.79

Safe zone

Rating

A-

Overall 4 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	16.82×	19.36×	21.47×	31.28×	-21.46×	-43×	9.47×	27.68×
P/B	3.7×	4.47×	4.79×	6.15×	5.88×	4.13×	1.67×	3.48×
P/S	0.72×	0.78×	0.78×	0.74×	2.94×	0.72×	0.41×	0.86×
EV / EBITDA	6.02×	7.67×	8.42×	10.43×	11.23×	34.22×	8.04×	9.84×
Gross margin	22.1%	26.4%	25.5%	24.3%	3.0%	20.3%	20.6%	26.3%
Operating margin	8.5%	8.0%	7.5%	6.0%	-7.2%	0.6%	6.1%	6.1%
Net margin	4.3%	4.0%	3.6%	2.4%	-13.7%	-1.7%	4.4%	3.1%
Current ratio	1.44×	1.2×	1.13×	1.7×	2.12×	1.36×	1.95×	1.95×
Debt / equity	0.53×	0.86×	1.67×	2.96×	4.19×	4.02×	0.73×	0.73×
Interest coverage	9.13×	7.69×	5.07×	4.3×	-0.87×	0.26×	7.95×	7.95×
Dividend yield	1.2%	0.0%	0.7%	0.0%	0.0%	0.0%	2.4%	1.1%
Payout ratio	20.8%	0.0%	15.6%	0.0%	0.0%	0.0%	22.4%	31.4%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	22.0%	23.1%	22.3%	19.7%	-27.4%	-9.6%	17.6%	12.6%
Return on invested capital	16.0%	16.5%	11.3%	8.4%	-2.0%	0.7%	6.3%	9.0%
Return on assets	7.9%	7.6%	5.6%	3.3%	-4.0%	-1.4%	6.3%	4.5%
Free cash flow yield	11.6%	5.9%	7.3%	7.3%	-1.2%	1.1%	3.7%	1.8%
Earnings yield	5.9%	5.2%	4.7%	3.2%	-4.7%	-2.3%	10.6%	3.6%
Enterprise value	€1.8B	€2B	€1.6B	€1.3B	€1.1B	€1B	€431.5M	€812.5M
Net debt / EBITDA	0.05×	0.66×	1.12×	2.13×	3.4×	11.78×	1.52×	0.99×
Cash conversion cycle (days)	24	19	21	21	65	24	21	30