Scout24 SE (G24.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

+55.4%

€133.73

vs €86.05 price

Levered DCF

€161.59

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

4.63

Safe 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	25.77×	38.33×	26.09×	29.52×	59.63×	67.05×	99.92×	27.01×
P/B	4.19×	4.35×	3.23×	2.71×	3.05×	2.43×	5.99×	3.79×
P/S	9.53×	10.99×	9.18×	8.16×	13.9×	19.36×	18.05×	8.36×
EV / EBITDA	18.5×	21.72×	17.01×	17.5×	27.06×	32.22×	43.44×	29.99×
Gross margin	50.1%	100.2%	51.7%	101.5%	102.1%	101.1%	99.9%	99.6%
Operating margin	44.8%	44.9%	47.4%	43.8%	36.7%	40.9%	31.1%	36.0%
Net margin	37.0%	28.6%	35.1%	27.6%	23.3%	28.9%	18.2%	30.9%
Current ratio	0.38×	0.45×	0.53×	0.47×	4.39×	12.41×	3.51×	1.14×
Debt / equity	0.1×	0.13×	0.15×	0.12×	0.15×	0.12×	0.81×	0.68×
Interest coverage	65.95×	50.1×	24.13×	26.55×	9.81×	6.02×	7.62×	12.76×
Dividend yield	1.5%	1.4%	1.6%	1.8%	1.3%	1.4%	1.1%	1.4%
Payout ratio	40.0%	54.4%	41.1%	53.7%	75.7%	91.4%	108.4%	36.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	16.2%	11.3%	12.4%	9.2%	5.1%	3.6%	6.0%	14.0%
Return on invested capital	13.0%	8.9%	9.1%	7.7%	4.2%	3.0%	3.3%	6.1%
Return on assets	11.4%	7.8%	8.9%	6.6%	3.7%	2.9%	2.6%	6.7%
Free cash flow yield	4.5%	3.7%	3.8%	3.6%	2.0%	0.7%	2.9%	4.0%
Earnings yield	3.9%	2.6%	3.8%	3.4%	1.7%	1.5%	1.0%	3.7%
Enterprise value	€6.3B	€6.3B	€4.8B	€3.8B	€5.5B	€7B	€7.1B	€5.2B
Net debt / EBITDA	0.29×	0.42×	0.58×	0.57×	0.68×	0.71×	4.81×	4.3×
Cash conversion cycle (days)	9	5,110	16	486	409	654	1,101,563	865