Palfinger AG (PAL.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

-73.1%

€7.35

vs €27.30 price

Levered DCF

€125.80

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

2.53

Grey zone

Rating

D+

Overall 1 / 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	12.4×	6.83×	8.13×	11.54×	14.89×	19.62×	13.73×	14.42×
P/B	1.39×	0.98×	1.34×	1.34×	2.31×	1.71×	1.9×	1.62×
P/S	0.51×	0.29×	0.36×	0.37×	0.7×	0.63×	0.63×	0.52×
EV / EBITDA	6.99×	4.85×	5.29×	6.73×	8.29×	8.54×	8.12×	7.84×
Gross margin	24.8%	25.4%	25.7%	23.0%	24.2%	24.7%	24.7%	25.0%
Operating margin	6.2%	6.6%	7.9%	6.8%	8.4%	6.5%	8.5%	7.9%
Net margin	4.1%	4.2%	4.4%	3.2%	4.7%	3.2%	4.6%	3.6%
Current ratio	1.65×	1.78×	1.64×	1.63×	1.36×	1.98×	1.8×	1.73×
Debt / equity	0.73×	1.13×	1.15×	1.12×	0.96×	0.92×	1.02×	1.13×
Interest coverage	4.19×	3.59×	5.31×	10.58×	14.49×	7.47×	10.06×	9.08×
Dividend yield	2.6%	5.3%	3.1%	3.5%	1.3%	1.4%	1.7%	2.1%
Payout ratio	32.4%	36.5%	24.9%	40.6%	19.5%	26.4%	24.0%	30.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.2%	14.3%	16.4%	11.6%	15.5%	8.8%	13.8%	11.3%
Return on invested capital	6.9%	7.6%	9.2%	7.9%	9.5%	6.1%	8.4%	7.4%
Return on assets	4.5%	4.7%	5.2%	3.6%	5.1%	3.2%	4.9%	3.8%
Free cash flow yield	12.3%	11.1%	3.6%	-8.5%	-3.2%	16.4%	5.5%	3.3%
Earnings yield	8.1%	14.6%	12.3%	8.7%	6.7%	5.1%	7.3%	6.9%
Enterprise value	€1.7B	€1.3B	€1.6B	€1.5B	€1.8B	€1.4B	€1.6B	€1.4B
Net debt / EBITDA	1.98×	2.38×	2.31×	2.92×	2.33×	2.58×	2.71×	3.1×
Cash conversion cycle (days)	120	138	126	139	135	107	120	119