Roblon A/S (RBLN-B.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

-10.6%

DKK 86.71

vs DKK 97.00 price

Levered DCF

-DKK 60.12

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

3.55

Safe zone

Rating

C+

Overall 2 / 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	9.75×	8.21×	-38.68×	-107.63×	-12.99×	13.13×	-19.66×	32.22×
P/B	1.16×	0.87×	0.85×	1.15×	1.24×	1.32×	1.33×	1.88×
P/S	0.87×	0.7×	0.72×	0.66×	1.08×	1.23×	1.06×	2.07×
EV / EBITDA	4.94×	3.7×	4.62×	12.48×	-35.05×	5.97×	241.96×	22.33×
Gross margin	23.8%	60.8%	52.7%	47.6%	46.7%	50.9%	45.2%	43.3%
Operating margin	12.7%	11.9%	4.0%	-1.0%	-13.4%	13.9%	-8.3%	2.6%
Net margin	8.9%	-3.9%	-1.9%	-0.5%	-8.3%	9.3%	-5.4%	6.5%
Current ratio	2.55×	4.47×	2×	1.61×	3.35×	6.02×	3.67×	5.71×
Debt / equity	0.19×	0.19×	0.49×	0.47×	0.14×	0.07×	0.03×	0×
Interest coverage	238.91×	197.64×	4.31×	-2.33×	-63.5×	69.32×	-222.25×	115.04×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	6.2%	3.8%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	-122.1%	123.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	11.9%	-4.9%	-2.2%	-0.8%	-9.6%	10.1%	-6.8%	5.9%
Return on invested capital	10.6%	9.4%	2.6%	-1.6%	-9.6%	10.2%	-7.3%	1.8%
Return on assets	8.9%	-3.5%	-1.3%	-0.5%	-7.4%	8.5%	-5.4%	5.0%
Free cash flow yield	9.6%	27.7%	-2.3%	-19.3%	-21.3%	12.2%	-20.3%	2.4%
Earnings yield	10.3%	-5.6%	-2.6%	-0.7%	-7.7%	7.6%	-5.1%	3.1%
Enterprise value	DKK 204.5M	DKK 190.7M	DKK 248.1M	DKK 343.7M	DKK 296.7M	DKK 324.2M	DKK 291.6M	DKK 455.2M
Net debt / EBITDA	-0.03×	0.37×	1.3×	3.33×	-3.16×	0.16×	3.07×	-0.56×
Cash conversion cycle (days)	120	198	251	245	234	205	166	130