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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
-171.9%
-DKK 1.62
vs DKK 2.26 price
Levered DCF
-DKK 0.10
After debt service
Piotroski score
6 / 9
Average
Altman Z-score
1.1
Distress zone
Rating
D+
Overall 1 / 5
Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
P/E-3.43×-6.44×-5.2×-1.24×-2.29×-58.95×1,671.64×14,000×
P/B-18.16×22.76×7.65×17.38×2.92×26.16×176.11×196.69×
P/S7.44×10.74×4.26×3.43×3.06×16.27×18.83×16.74×
EV / EBITDA-8.36×-28.53×-14.65×-3.09×-3.16×294.77×1,167.33×5,600.03×
Gross margin-63.8%35.4%42.9%12.4%42.5%-12.3%46.8%47.5%
Operating margin-154.6%-92.7%-67.5%-225.1%-126.7%-12.3%1.6%0.3%
Net margin-215.6%-167.9%-81.2%-276.3%-133.3%-27.6%1.1%0.1%
Current ratio0.45×0.63×0.53×0.28×0.97×0.23×1.43×1.42×
Debt / equity-5.65×2.64×1.39×9.99×1.07×2.32×0×0×
Interest coverage-2.54×-1.03×-4.99×-8.51×-18.52×-1.72×9.85×3.54×
Dividend yield0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Payout ratio0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Key metrics by fiscal year
MetricFY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Return on equity526.0%-355.7%-145.8%-1400.3%-127.5%-44.4%10.5%1.5%
Return on invested capital-81.2%-53.1%-49.9%-102.8%-38.0%-5.3%11.6%2.0%
Return on assets-91.0%-77.6%-48.3%-104.6%-40.7%-9.4%3.2%0.4%
Free cash flow yield0.0%0.0%0.0%26.9%16.8%3.6%0.0%0.0%
Earnings yield-29.0%-15.6%-19.1%-80.6%-43.6%-1.7%0.1%0.0%
Enterprise valueDKK 75.2MDKK 118.6MDKK 57.7MDKK 41.9MDKK 52.2MDKK 127.7MDKK 116.4MDKK 116.5M
Net debt / EBITDA-1.97×-2.95×-2.24×-1.11×-0.68×23.94×-9.62×-43.25×
Cash conversion cycle (days)2862391891822056-55