Douglas AG (DOU.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

+2974.5%

€245.04

vs €7.97 price

Levered DCF

€173.92

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

0.85

Distress zone

Rating

Overall 3 / 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	7.5×	26.54×	138.13×	-7.59×	-6.14×	-5.5×	96.09×	-5.71×
P/B	1.4×	2.93×	-1.9×	-1.84×	-2.41×	4.29×	1.93×	1.85×
P/S	0.29×	0.5×	0.58×	0.65×	0.76×	0.88×	0.48×	0.51×
EV / EBITDA	4.75×	6.53×	9.65×	24.23×	98.25×	-67.1×	19.69×	-35.59×
Gross margin	44.5%	45.7%	21.9%	19.7%	11.7%	44.4%	45.5%	43.9%
Operating margin	7.6%	9.0%	3.0%	-0.7%	-5.4%	20.0%	4.1%	1.0%
Net margin	3.8%	1.9%	0.4%	-8.5%	-12.4%	-16.1%	0.5%	-8.9%
Current ratio	0.81×	0.87×	0.99×	0.91×	0.9×	0.91×	12.48×	1.39×
Debt / equity	2.48×	3.15×	-3.51×	-3.36×	-4.21×	0×	2.68×	2.57×
Interest coverage	2.58×	1.35×	0.37×	-0.09×	-0.66×	25.61×	176.88×	37.56×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	18.6%	11.0%	-1.3%	24.2%	39.3%	-78.0%	2.0%	-32.4%
Return on invested capital	7.5%	11.9%	0.9%	-0.7%	-4.6%	14.9%	0.9%	1.0%
Return on assets	3.7%	1.9%	0.4%	-7.0%	-8.5%	-9.1%	0.4%	-6.5%
Free cash flow yield	34.8%	23.8%	12.1%	9.4%	6.4%	17.3%	12.0%	7.8%
Earnings yield	13.3%	3.8%	0.7%	-13.2%	-16.3%	-18.2%	1.0%	-17.5%
Enterprise value	€3.6B	€4.5B	€6.7B	€6.5B	€6.3B	€2.6B	€4B	€3.9B
Net debt / EBITDA	3.02×	3.32×	6.23×	15.32×	61.12×	6.62×	11.51×	-20.59×
Cash conversion cycle (days)	48	42	41	35	49	49	-77	80