Energiekontor AG (EKT.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

+155.7%

€57.27

vs €22.40 price

Levered DCF

-€135.27

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.9

Distress zone

Rating

C-

Overall 1 / 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	12.16×	30.34×	13.95×	24.21×	27.95×	40.56×	1,254.44×	28.8×
P/B	2.22×	3.66×	6.27×	8.71×	12.32×	12.64×	5.45×	2.82×
P/S	2.97×	5.42×	4.8×	5.74×	6.47×	5.65×	4.81×	1.75×
EV / EBITDA	13.23×	13.48×	10.49×	13.51×	15.91×	16.14×	13.14×	8.24×
Gross margin	51.0%	75.1%	71.5%	52.7%	52.8%	41.4%	45.0%	56.0%
Operating margin	37.8%	39.4%	47.3%	42.5%	39.4%	31.4%	25.8%	19.9%
Net margin	24.4%	17.8%	34.5%	23.7%	23.1%	13.9%	0.4%	6.1%
Current ratio	1.58×	2.26×	2.31×	1.82×	1.66×	1.79×	2.43×	3.12×
Debt / equity	3.3×	2.48×	2.18×	3.22×	4.72×	4.68×	4.84×	3.28×
Interest coverage	2.33×	2.6×	5.72×	4.67×	3.67×	3.11×	1.05×	1.65×
Dividend yield	1.4%	2.4%	1.2%	1.2%	1.1%	0.7%	1.9%	4.5%
Payout ratio	17.0%	73.8%	16.8%	28.3%	31.2%	28.0%	2370.5%	130.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	18.2%	12.1%	45.0%	36.0%	44.0%	31.2%	0.4%	9.8%
Return on invested capital	6.1%	4.4%	15.8%	9.9%	9.0%	7.2%	1.4%	4.8%
Return on assets	3.8%	2.9%	11.5%	7.0%	6.4%	4.5%	0.1%	1.9%
Free cash flow yield	-15.8%	-7.2%	8.9%	2.6%	-3.5%	0.3%	-3.0%	12.0%
Earnings yield	8.2%	3.3%	7.2%	4.1%	3.6%	2.5%	0.1%	3.5%
Enterprise value	€1.1B	€1.1B	€1.4B	€1.3B	€1.3B	€1.1B	€511.4M	€344.1M
Net debt / EBITDA	7.31×	4.75×	1.98×	2.72×	3.53×	3.47×	5.27×	3.62×
Cash conversion cycle (days)	1,934	2,486	707	584	850	642	723	313