Møns Bank A/S (MNBA.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

+459.1%

DKK 2,225.06

vs DKK 398.00 price

Levered DCF

DKK 1,726.47

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

-0.38

Distress zone

Rating

C+

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	14.15×	5.35×	4.74×	8.64×	8.84×	10.42×	7.54×	7.65×
P/B	1×	0.65×	0.64×	0.71×	0.76×	0.6×	0.49×	0.54×
P/S	2.71×	1.66×	1.6×	2.08×	2.51×	1.8×	1.35×	1.49×
EV / EBITDA	-13.75×	-10.3×	-10.28×	-25.92×	-22.68×	-19.02×	-18.64×	-3.49×
Gross margin	94.2%	100.0%	101.1%	100.0%	106.6%	104.7%	98.0%	95.9%
Operating margin	21.9%	39.6%	43.7%	29.7%	35.0%	21.6%	23.0%	24.2%
Net margin	19.2%	31.0%	33.6%	24.1%	28.4%	17.4%	20.2%	19.4%
Current ratio	0.49×	0.39×	0.56×	0.58×	0.56×	0.36×	0.41×	0.17×
Debt / equity	0.05×	0.05×	0.05×	0.06×	0.06×	0.07×	0.07×	0.08×
Interest coverage	3.8×	-4.84×	6.5×	0×	0×	0×	11.3×	5.83×
Dividend yield	1.6%	1.8%	1.0%	1.0%	0.7%	1.4%	1.7%	1.0%
Payout ratio	23.1%	9.5%	4.5%	8.5%	6.0%	14.0%	11.7%	7.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.1%	12.1%	13.4%	8.2%	8.7%	5.8%	7.3%	7.0%
Return on invested capital	6.2%	9.4%	5.6%	6.1%	6.3%	4.0%	5.2%	5.2%
Return on assets	0.9%	1.7%	1.9%	1.1%	1.2%	0.8%	1.0%	1.0%
Free cash flow yield	0.0%	0.0%	2.1%	0.0%	181.9%	7.8%	273.6%	-110.1%
Earnings yield	7.1%	18.7%	21.1%	11.6%	11.3%	9.7%	14.9%	13.1%
Enterprise value	-DKK 881.4M	-DKK 1.1B	-DKK 1.2B	-DKK 1.6B	-DKK 1.4B	-DKK 753.4M	-DKK 795.6M	-DKK 141.8M
Net debt / EBITDA	-25.22×	-14.47×	-13.8×	-32.49×	-29.43×	-26.45×	-24×	-9.26×
Cash conversion cycle (days)	4	5	217,281	15	-1	7	6	6