OMV AG (OMV.VI) 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

-27.8%

€53.18

vs €73.70 price

Levered DCF

€142.84

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

1.59

Distress zone

Rating

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	15.28×	8.77×	8.78×	4.33×	7.8×	8.57×	9.74×	8.24×
P/B	1.08×	0.68×	0.71×	0.82×	1.05×	0.79×	1.26×	1.05×
P/S	0.64×	0.36×	0.33×	0.25×	0.46×	0.65×	0.7×	0.54×
EV / EBITDA	3.99×	2×	2.13×	1.4×	2.68×	4.69×	3.7×	2.88×
Gross margin	23.4%	22.5%	21.8%	22.9%	25.5%	11.3%	22.4%	21.6%
Operating margin	12.4%	12.5%	13.2%	19.7%	14.2%	8.6%	15.3%	15.4%
Net margin	4.4%	4.3%	3.9%	5.9%	6.2%	8.1%	7.5%	6.6%
Current ratio	1.5×	1.71×	1.83×	1.67×	1.38×	1.14×	1.2×	1.24×
Debt / equity	0.76×	0.53×	0.5×	0.54×	0.7×	0.87×	0.59×	0.51×
Interest coverage	7.76×	17.15×	21.24×	51.89×	22.92×	5.07×	11.74×	12.19×
Dividend yield	10.5%	14.3%	13.4%	5.4%	4.5%	6.2%	4.1%	5.0%
Payout ratio	151.7%	120.0%	112.6%	22.9%	33.5%	50.1%	38.4%	41.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	7.5%	8.1%	8.5%	19.3%	14.1%	9.8%	13.5%	12.7%
Return on invested capital	3.0%	5.0%	5.3%	13.4%	7.2%	3.5%	7.0%	7.6%
Return on assets	2.3%	3.0%	3.1%	6.5%	4.1%	2.7%	4.3%	4.1%
Free cash flow yield	8.8%	15.9%	17.1%	30.6%	27.7%	10.9%	11.6%	9.6%
Earnings yield	6.9%	11.9%	11.9%	23.6%	13.4%	12.4%	10.7%	12.1%
Enterprise value	€21.3B	€15.4B	€15.2B	€17.9B	€22.1B	€19.9B	€21B	€14.5B
Net debt / EBITDA	1.08×	0.42×	0.31×	0.17×	0.7×	2.14×	0.83×	0.4×
Cash conversion cycle (days)	16	34	27	22	25	28	1	-3