Newcap Holding A/S (NEWCAP.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

-83.5%

DKK 85.72

vs DKK 520.00 price

Levered DCF

DKK 374.63

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

61.23

Safe zone

Rating

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	76.19×	87.56×	-695.65×	-11.29×	-24.26×	-11.35×	-8.16×	-14.81×
P/B	2.31×	7.36×	3×	2.38×	2.77×	1.91×	2.19×	2.28×
P/S	4.96×	3.86×	2,028.85×	366.47×	0×	0×	0×	0×
EV / EBITDA	7.41×	49.54×	-96.84×	-10.63×	-41.37×	-11.07×	-34.52×	-23.66×
Gross margin	99.7%	97.8%	100.0%	60.1%	0.0%	0.0%	0.0%	0.0%
Operating margin	53.3%	50.7%	-2012.8%	-2108.2%	0.0%	0.0%	0.0%	0.0%
Net margin	41.6%	31.8%	-1912.8%	-3199.1%	0.0%	0.0%	0.0%	0.0%
Current ratio	18.48×	4.88×	0×	0×	0×	0×	0×	0.14×
Debt / equity	0×	0×	0×	0×	0×	0×	0×	0.25×
Interest coverage	0×	0×	0×	-52.82×	0×	0×	-1.25×	-4.07×
Dividend yield	0.0%	32.3%	11.1%	29.4%	16.5%	22.0%	0.0%	0.0%
Payout ratio	0.0%	391.9%	-1177.7%	-336.7%	-401.8%	-258.7%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	19.3%	60.7%	-2.8%	-20.8%	-11.4%	-16.3%	-26.6%	-15.4%
Return on invested capital	18.1%	64.8%	-2.8%	-12.4%	-3.5%	-2.6%	-26.0%	-6.7%
Return on assets	17.7%	47.5%	-2.7%	-18.8%	-10.7%	-15.7%	-23.6%	-7.3%
Free cash flow yield	7.1%	23.5%	-2.6%	9.0%	-1.9%	-16.1%	-9.6%	-6.1%
Earnings yield	8.4%	8.2%	-0.9%	-8.7%	-4.1%	-8.5%	-12.2%	-6.7%
Enterprise value	DKK 47.3M	DKK 39.1M	DKK 72.2M	DKK 79.2M	DKK 188M	DKK 187.3M	DKK 294M	DKK 512.3M
Net debt / EBITDA	-1.89×	-3.34×	9.22×	0.82×	0.43×	0.68×	7.58×	-2.19×
Cash conversion cycle (days)	0	-337	194,506	313	0	0	0	0