Scanfil Oyj (SCANFL.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

+51.0%

€18.24

vs €12.08 price

Levered DCF

€59.76

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

3.12

Safe zone

Rating

A-

Overall 4 / 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	15.84×	13.98×	10.58×	12.19×	16.22×	11.44×	11.11×	8.96×
P/B	2.07×	1.85×	1.91×	1.88×	2.33×	2.3×	1.89×	1.78×
P/S	0.82×	0.69×	0.56×	0.51×	0.69×	0.71×	0.54×	0.46×
EV / EBITDA	9.81×	7.53×	6.95×	8.4×	10.02×	7.38×	6.78×	6.06×
Gross margin	9.4%	32.6%	9.1%	27.7%	29.8%	31.5%	32.9%	32.0%
Operating margin	5.5%	6.7%	6.8%	5.4%	5.7%	5.4%	6.1%	6.7%
Net margin	5.1%	5.0%	5.3%	4.2%	4.3%	6.2%	4.8%	5.1%
Current ratio	1.96×	2.07×	1.79×	1.77×	1.87×	2.11×	1.94×	1.67×
Debt / equity	0.27×	0.24×	0.27×	0.47×	0.41×	0.24×	0.4×	0.33×
Interest coverage	13.75×	21.22×	19.35×	19.61×	26.13×	21.76×	16.91×	23.49×
Dividend yield	2.4%	2.8%	2.7%	2.9%	2.3%	2.3%	2.6%	2.7%
Payout ratio	38.4%	38.8%	28.3%	35.1%	36.9%	26.1%	29.6%	24.3%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.0%	13.3%	18.1%	15.5%	14.3%	20.2%	16.9%	20.0%
Return on invested capital	8.5%	10.4%	13.9%	11.3%	10.5%	12.3%	12.1%	15.3%
Return on assets	6.9%	7.1%	9.3%	6.7%	6.3%	10.9%	8.3%	9.5%
Free cash flow yield	7.6%	14.2%	9.2%	-2.1%	-5.3%	6.2%	8.0%	7.4%
Earnings yield	6.3%	7.2%	9.5%	8.2%	6.2%	8.8%	8.9%	11.2%
Enterprise value	€663M	€559M	€559.6M	€512.1M	€542.5M	€438M	€360.6M	€285.9M
Net debt / EBITDA	0.17×	0.29×	0.64×	1.4×	1.11×	0.31×	0.87×	0.6×
Cash conversion cycle (days)	83	123	114	132	129	95	99	88