Ringkjøbing Landbobank A/S (RILBA.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

+189.7%

DKK 5,043.64

vs DKK 1,741.00 price

Levered DCF

-DKK 360.47

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.69

Distress 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	16.19×	13.66×	12.41×	17.75×	20.53×	17.51×	15.36×	14.07×
P/B	3.24×	2.85×	2.56×	2.81×	2.86×	1.98×	1.97×	1.3×
P/S	7.49×	6.02×	5.8×	8.74×	9.78×	7×	6.51×	5.38×
EV / EBITDA	16.34×	11.21×	10.7×	15.82×	17.86×	15.6×	14.2×	12.35×
Gross margin	85.4%	79.1%	83.0%	93.8%	96.0%	94.7%	94.3%	93.9%
Operating margin	61.2%	58.8%	61.5%	62.9%	60.2%	49.7%	54.0%	46.9%
Net margin	46.3%	44.1%	46.7%	50.0%	48.1%	40.0%	42.4%	38.2%
Current ratio	0.12×	0.12×	0.11×	0.12×	0.1×	0.11×	0.1×	0.11×
Debt / equity	1.08×	0.89×	0.89×	1.06×	0.81×	0.78×	0.87×	0.67×
Interest coverage	3.96×	2.81×	3.61×	10.15×	14.92×	9.46×	9.5×	11.55×
Dividend yield	0.7%	0.8%	0.7%	0.7%	0.8%	2.0%	1.9%	2.6%
Payout ratio	11.6%	11.3%	9.0%	12.9%	16.2%	34.8%	29.9%	36.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	20.0%	20.9%	20.6%	16.1%	14.1%	11.3%	12.9%	9.2%
Return on invested capital	-6.1%	10.5%	10.4%	7.4%	7.4%	6.1%	6.6%	5.3%
Return on assets	2.7%	2.9%	2.9%	2.2%	2.0%	1.7%	1.8%	1.3%
Free cash flow yield	0.0%	0.0%	0.2%	0.3%	0.3%	0.4%	0.5%	0.0%
Earnings yield	6.2%	7.3%	8.1%	5.7%	4.9%	5.7%	6.5%	7.1%
Enterprise value	DKK 49.9B	DKK 34.9B	DKK 30.7B	DKK 30.3B	DKK 28B	DKK 18.3B	DKK 18.2B	DKK 10.3B
Net debt / EBITDA	4.09×	1.12×	1.38×	2.18×	1.94×	1.86×	2.45×	1.11×
Cash conversion cycle (days)	0	-22	-43	-92	-56	-29	-75	-68