Kps AG (KSC.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

+982.7%

€2.45

vs €0.23 price

Levered DCF

€1.85

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

0.48

Distress zone

Rating

B-

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	-1.16×	-1.47×	-44.14×	11.54×	20.83×	24.91×	20.91×	29.27×
P/B	0.92×	0.71×	0.82×	1.56×	2.6×	3.09×	4.02×	4.37×
P/S	0.21×	0.24×	0.31×	0.63×	1.13×	1.23×	1.43×	1.65×
EV / EBITDA	12.39×	11.98×	12.97×	6.98×	10.11×	10.83×	11.77×	14.84×
Gross margin	14.4%	15.0%	16.5%	22.6%	23.0%	25.2%	29.9%	25.8%
Operating margin	-9.0%	-12.2%	0.0%	8.0%	8.5%	8.5%	10.4%	9.6%
Net margin	-17.9%	-16.1%	-0.7%	5.3%	5.5%	4.9%	6.7%	5.7%
Current ratio	0.58×	0.66×	0.72×	0.88×	0.84×	0.96×	1.07×	1.17×
Debt / equity	1.76×	1.02×	0.79×	0.61×	0.69×	0.93×	0.27×	0.33×
Interest coverage	-3.63×	-6.78×	0.02×	16.43×	13.65×	7.27×	20.94×	12.88×
Dividend yield	0.0%	0.0%	6.8%	6.3%	3.5%	3.1%	5.1%	4.6%
Payout ratio	0.0%	0.0%	-300.2%	74.4%	72.9%	78.1%	107.4%	133.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-79.6%	-48.3%	-1.9%	13.3%	12.6%	12.3%	19.0%	15.1%
Return on invested capital	-14.0%	-17.7%	0.0%	8.7%	7.8%	6.8%	14.9%	11.7%
Return on assets	-21.6%	-18.3%	-0.8%	6.0%	5.4%	4.7%	8.6%	7.0%
Free cash flow yield	21.2%	25.4%	16.1%	13.3%	8.7%	8.9%	9.0%	6.3%
Earnings yield	-86.4%	-67.6%	-2.3%	8.5%	4.9%	4.0%	4.7%	3.5%
Enterprise value	€64.4M	€71.8M	€101.4M	€150.2M	€218.8M	€246.2M	€265.7M	€296.5M
Net debt / EBITDA	7.53×	6.21×	5.94×	1.76×	1.83×	1.81×	0.33×	0.61×
Cash conversion cycle (days)	36	39	51	70	71	68	60	63