JDC Group AG (JDC.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

+82.8%

€30.15

vs €16.50 price

Levered DCF

€46.15

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

2.53

Grey 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	48.11×	53.02×	68.04×	235.58×	357.04×	-97.5×	-49×	-20.17×
P/B	5.4×	5.4×	4.83×	5.74×	8.34×	4.15×	2.92×	2.63×
P/S	1.39×	1.38×	1.49×	1.36×	2.21×	0.92×	0.8×	0.92×
EV / EBITDA	19.37×	19.91×	20.46×	25.64×	39.41×	24.65×	24.41×	64.9×
Gross margin	15.8%	24.8%	100.4%	15.1%	15.2%	14.3%	14.6%	15.2%
Operating margin	5.6%	4.2%	2.2%	0.7%	1.0%	-0.8%	-1.6%	-3.0%
Net margin	2.8%	2.6%	2.2%	0.6%	0.6%	-0.9%	-1.6%	-4.5%
Current ratio	41.72×	1.3×	693.74×	1.18×	1.18×	1.25×	1.17×	1.29×
Debt / equity	1.47×	0.5×	0.37×	0.74×	0.73×	0.92×	1.11×	0.55×
Interest coverage	3.66×	4.58×	0×	0.72×	0.89×	-0.67×	-1.09×	-2.22×
Dividend yield	4.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	197.4%	0.0%	0.8%	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	11.0%	10.3%	7.1%	2.4%	2.3%	-4.3%	-5.9%	-12.8%
Return on invested capital	4.6%	4.6%	2.6%	1.1%	1.0%	-1.5%	-2.2%	-4.5%
Return on assets	2.9%	3.9%	2.7%	0.8%	0.7%	-1.3%	-1.8%	-4.9%
Free cash flow yield	3.9%	4.3%	7.1%	2.6%	4.0%	5.9%	2.3%	-1.4%
Earnings yield	2.0%	1.9%	1.5%	0.4%	0.3%	-1.0%	-2.0%	-4.9%
Enterprise value	€407.2M	€312.5M	€247.4M	€223M	€330.2M	€126.6M	€101.8M	€94.2M
Net debt / EBITDA	2.79×	0.24×	-0.58×	1.24×	0.77×	2.59×	3.08×	4.45×
Cash conversion cycle (days)	-8	50	55	-7	-22	-14	-12	-15