Gyldendal A/S (GYLD-A.CO) 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

+401.4%

DKK 1,995.59

vs DKK 398.00 price

Levered DCF

DKK 1,441.56

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.41

Safe zone

Rating

B+

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	9.47×	13.1×	11.76×	-3.11×	16.52×	127.65×	24.94×	28.87×
P/B	0.95×	0.78×	0.98×	1.27×	1.35×	1.09×	1.01×	0.99×
P/S	0.48×	0.41×	0.49×	0.59×	0.73×	0.49×	0.46×	0.52×
EV / EBITDA	2.79×	2.17×	3.31×	115.15×	3.93×	2.69×	4.48×	5.89×
Gross margin	41.5%	44.5%	44.4%	46.7%	59.2%	59.7%	58.2%	56.2%
Operating margin	7.7%	4.2%	2.5%	1.7%	10.7%	5.8%	4.2%	2.3%
Net margin	5.1%	3.1%	4.1%	-10.9%	4.4%	0.4%	1.8%	1.8%
Current ratio	1.33×	1.43×	0.96×	0.81×	0.9×	1.3×	1.13×	1.29×
Debt / equity	0.01×	0.01×	0.06×	0.18×	0.2×	0.03×	0.21×	0.06×
Interest coverage	89×	11.57×	3.02×	3.76×	39.93×	30.12×	17.75×	16.39×
Dividend yield	5.3%	0.0%	0.0%	4.9%	3.6%	0.0%	5.0%	4.6%
Payout ratio	49.8%	0.0%	0.0%	-26.3%	60.1%	0.0%	125.3%	131.8%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.1%	6.0%	8.3%	-23.5%	8.2%	0.9%	4.0%	3.4%
Return on invested capital	10.8%	5.6%	4.3%	2.7%	11.0%	1.7%	5.2%	3.5%
Return on assets	5.9%	3.5%	4.6%	-11.4%	4.0%	0.4%	1.9%	2.0%
Free cash flow yield	11.5%	12.1%	8.0%	5.0%	-4.0%	25.0%	9.2%	7.9%
Earnings yield	10.6%	7.6%	8.5%	-18.5%	6.1%	0.8%	4.0%	3.5%
Enterprise value	DKK 347.8M	DKK 220.9M	DKK 377.2M	DKK 483.4M	DKK 623M	DKK 341.7M	DKK 416.6M	DKK 413.1M
Net debt / EBITDA	-0.29×	-0.75×	0.24×	16.45×	0.42×	-0.76×	0.16×	-0.42×
Cash conversion cycle (days)	132	126	100	120	118	80	121	127