Brd. Klee A/S (KLEE-B.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

+56.4%

DKK 6,568.18

vs DKK 4,200.00 price

Levered DCF

DKK 12,599.47

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

4.19

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	15.79×	18.59×	12.6×	12.05×	10.97×	25.39×	10.92×	9.73×
P/B	1.73×	1.82×	1.7×	2.09×	1.72×	1.43×	1.49×	1.82×
P/S	0.57×	0.64×	0.73×	0.86×	0.86×	0.68×	0.63×	0.72×
EV / EBITDA	6.87×	13.23×	6.44×	7.62×	5.55×	9.14×	7.03×	6.37×
Gross margin	31.0%	33.8%	40.1%	39.9%	43.3%	38.9%	39.3%	39.8%
Operating margin	6.4%	6.0%	9.5%	9.6%	11.2%	4.6%	8.3%	9.9%
Net margin	3.6%	3.4%	5.8%	7.1%	7.9%	2.7%	5.8%	7.4%
Current ratio	2.61×	2.37×	3.98×	3.02×	4.19×	3.06×	3.18×	3.1×
Debt / equity	0.36×	0.47×	0.15×	0.17×	0.12×	0.16×	0.14×	0.16×
Interest coverage	9.79×	7.64×	24.97×	20.79×	20.26×	10.6×	23.98×	55.13×
Dividend yield	2.1%	0.0%	0.0%	10.0%	2.6%	3.5%	3.4%	3.0%
Payout ratio	33.6%	0.1%	0.0%	120.8%	28.5%	90.1%	37.5%	29.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.9%	9.8%	13.5%	17.3%	15.7%	5.6%	13.6%	18.7%
Return on invested capital	9.1%	7.5%	13.6%	14.3%	14.2%	6.0%	12.9%	16.5%
Return on assets	5.5%	4.7%	9.0%	10.5%	10.8%	3.6%	8.9%	12.0%
Free cash flow yield	11.8%	0.0%	0.0%	-0.9%	13.5%	15.7%	-3.9%	6.0%
Earnings yield	6.3%	5.4%	7.9%	8.3%	9.1%	3.9%	9.2%	10.3%
Enterprise value	DKK 233.3M	DKK 244.1M	DKK 181.4M	DKK 204.8M	DKK 142.8M	DKK 115.7M	DKK 130.1M	DKK 134.4M
Net debt / EBITDA	0.92×	2.32×	0.16×	0.28×	-0.89×	-0.45×	0.25×	-0.34×
Cash conversion cycle (days)	124	142	175	178	143	163	174	137