Ponsse Oyj (PON1V.HE) 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

+102.3%

€39.75

vs €19.65 price

Levered DCF

€13.90

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

3.94

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	23.76×	44.67×	34.33×	19.02×	21.42×	25.39×	16.67×	16.79×
P/B	2.14×	1.72×	2×	2.2×	3.97×	3.21×	3.74×	3.66×
P/S	0.97×	0.75×	0.78×	0.94×	1.58×	1.28×	1.3×	1.2×
EV / EBITDA	10.76×	9.23×	8.77×	9.8×	14.93×	12.1×	10.06×	9.77×
Gross margin	17.5%	36.0%	34.5%	34.9%	35.1%	33.3%	35.3%	35.1%
Operating margin	4.5%	4.9%	5.7%	6.2%	10.0%	6.4%	10.1%	10.1%
Net margin	4.1%	1.7%	2.3%	4.9%	7.3%	5.1%	7.8%	7.1%
Current ratio	2.41×	2.3×	1.97×	1.85×	2.13×	1.88×	1.79×	1.77×
Debt / equity	0.23×	0.27×	0.37×	0.3×	0.18×	0.45×	0.35×	0.35×
Interest coverage	13.56×	9.6×	7.36×	17.53×	124.41×	14.86×	33.12×	34.27×
Dividend yield	1.9%	2.7%	2.6%	2.4%	1.4%	1.0%	2.6%	2.9%
Payout ratio	45.9%	123.1%	89.0%	45.3%	30.5%	26.0%	43.1%	48.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	9.0%	3.8%	5.9%	11.5%	18.5%	12.7%	22.4%	21.8%
Return on invested capital	6.1%	5.1%	7.3%	8.8%	16.0%	9.0%	16.8%	17.6%
Return on assets	5.3%	2.2%	3.1%	6.3%	10.7%	6.8%	12.2%	11.5%
Free cash flow yield	0.1%	11.3%	-0.9%	-8.5%	6.6%	6.7%	1.6%	3.9%
Earnings yield	4.2%	2.2%	2.9%	5.2%	4.7%	3.9%	6.0%	6.0%
Enterprise value	€745M	€565.8M	€689.1M	€731M	€1.1B	€808.5M	€901M	€751.3M
Net debt / EBITDA	0.3×	0.05×	0.58×	0.31×	-0.88×	-0.14×	0.37×	0.24×
Cash conversion cycle (days)	103	107	149	145	88	100	103	91