Prime Office A/S (PRIMOF.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

-4390.9%

-DKK 10,040.77

vs DKK 234.00 price

Levered DCF

-DKK 8,697.19

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

0.67

Distress zone

Rating

B-

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	18.26×	10.89×	13.67×	8.1×	7.43×	5.32×	6.25×	5.88×
P/B	0.63×	0.51×	0.62×	0.73×	1.16×	0.93×	0.4×	0.33×
P/S	4.03×	3.22×	3.82×	4.68×	6.24×	4.34×	4.03×	2.8×
EV / EBITDA	20.96×	13.75×	11.94×	12×	8.44×	19.98×	9.77×	9.9×
Gross margin	74.1%	67.4%	70.7%	69.4%	72.9%	73.1%	69.9%	69.2%
Operating margin	56.1%	56.3%	61.1%	103.0%	165.9%	169.5%	139.4%	111.2%
Net margin	22.1%	29.6%	28.0%	57.8%	84.0%	81.6%	64.5%	47.7%
Current ratio	8.13×	1.96×	4.11×	2.67×	1.47×	0.74×	0.29×	0.3×
Debt / equity	1.79×	1.57×	1.34×	1.27×	1.57×	1.87×	0.95×	0.98×
Interest coverage	1.98×	1.54×	1.96×	8.34×	10.54×	10.08×	7.99×	5.55×
Dividend yield	0.0%	0.0%	1.5%	0.0%	1.7%	0.0%	1.6%	0.0%
Payout ratio	0.0%	0.0%	20.5%	0.0%	12.3%	0.0%	9.9%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	3.4%	4.7%	4.5%	9.0%	15.6%	17.6%	6.4%	5.6%
Return on invested capital	2.0%	2.3%	2.5%	4.8%	8.2%	8.3%	6.5%	6.3%
Return on assets	1.0%	1.4%	1.4%	2.9%	4.4%	4.5%	3.5%	3.1%
Free cash flow yield	6.2%	15.2%	14.9%	9.1%	7.0%	9.2%	24.4%	7.8%
Earnings yield	5.5%	9.2%	7.3%	12.3%	13.4%	18.8%	16.0%	17.0%
Enterprise value	DKK 3B	DKK 2.5B	DKK 2.1B	DKK 2.3B	DKK 2.6B	DKK 2.3B	DKK 2.2B	DKK 1.8B
Net debt / EBITDA	15.27×	10.13×	7.65×	7.34×	4.68×	13.08×	6.86×	7.38×
Cash conversion cycle (days)	-385	-283	-143	-153	-111	-77	-86	-62