JOST Werke AG (JST.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

+78.1%

€101.89

vs €57.20 price

Levered DCF

€132.89

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.01

Grey zone

Rating

Overall 2 / 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	-54.65×	12.89×	12.59×	13.08×	16.84×	33.41×	16.58×	7.38×
P/B	2.47×	1.67×	1.72×	2.18×	2.4×	2.42×	2.11×	1.57×
P/S	0.53×	0.63×	0.53×	0.62×	0.7×	0.81×	0.75×	0.52×
EV / EBITDA	7.53×	6.07×	5.77×	6.73×	7.96×	9.96×	6.37×	5.15×
Gross margin	24.4%	27.5%	26.0%	26.7%	26.5%	27.2%	25.5%	25.9%
Operating margin	5.9%	6.3%	7.4%	7.0%	5.1%	3.2%	6.2%	7.0%
Net margin	-1.0%	4.9%	4.2%	4.7%	4.2%	2.4%	4.6%	7.1%
Current ratio	1.32×	1.68×	1.3×	1.61×	1.6×	1.5×	3.02×	2.43×
Debt / equity	2.14×	0.81×	0.84×	0.77×	0.92×	1.19×	0.57×	0.6×
Interest coverage	2.17×	3.38×	3.72×	11.18×	7×	3.05×	10.63×	6.1×
Dividend yield	2.8%	3.3%	3.2%	2.0%	2.0%	0.0%	2.9%	1.9%
Payout ratio	-152.0%	42.5%	39.9%	26.1%	34.0%	0.0%	48.9%	13.9%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-4.5%	13.0%	13.7%	16.6%	14.3%	7.3%	12.7%	21.2%
Return on invested capital	1.8%	6.9%	8.7%	8.6%	6.8%	3.4%	6.9%	10.8%
Return on assets	-0.9%	5.2%	5.2%	6.0%	4.5%	2.1%	5.3%	8.6%
Free cash flow yield	13.5%	17.0%	17.0%	3.0%	4.5%	-22.9%	10.8%	9.7%
Earnings yield	-1.8%	7.8%	7.9%	7.6%	5.9%	3.0%	6.0%	13.5%
Enterprise value	€1.3B	€865.5M	€890.6M	€980.6M	€931.2M	€849.3M	€601.7M	€479.7M
Net debt / EBITDA	2.95×	1.31×	1.5×	1.35×	1.66×	2.43×	0.49×	0.91×
Cash conversion cycle (days)	65	65	82	77	70	63	74	73