Aktieselskabet Schouw & Co. (SCHO.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

+72.5%

DKK 1,436.81

vs DKK 833.00 price

Levered DCF

DKK 3,862.71

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.85

Grey 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	23.2×	13.16×	13.9×	12.91×	13.53×	16.19×	14.63×	14.47×
P/B	1.33×	1.11×	1.22×	1.2×	1.28×	1.54×	1.4×	1.34×
P/S	0.44×	0.36×	0.35×	0.38×	0.56×	0.69×	0.64×	0.64×
EV / EBITDA	6.87×	5.99×	6.75×	8.08×	7.49×	7.84×	8.36×	8.91×
Gross margin	13.5%	30.0%	7.6%	26.3%	29.1%	16.6%	16.1%	16.3%
Operating margin	4.2%	5.3%	4.6%	3.9%	5.6%	6.5%	5.5%	5.7%
Net margin	1.9%	2.7%	2.5%	2.9%	4.2%	4.3%	4.3%	4.4%
Current ratio	1.65×	1.53×	1.53×	1.59×	1.43×	1.43×	1.54×	1.49×
Debt / equity	0.53×	0.57×	0.67×	0.65×	0.32×	0.27×	0.41×	0.35×
Interest coverage	4.03×	3.45×	3.81×	6.78×	13.88×	15.12×	12.09×	21.81×
Dividend yield	2.4%	3.2%	2.9%	3.0%	2.6%	2.3%	2.3%	2.7%
Payout ratio	56.6%	42.0%	40.3%	39.0%	34.5%	36.8%	33.9%	39.2%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.7%	8.4%	8.8%	9.3%	9.4%	9.5%	9.6%	9.3%
Return on invested capital	4.7%	6.5%	6.3%	5.1%	7.1%	8.0%	6.4%	6.0%
Return on assets	2.4%	3.4%	3.4%	3.4%	4.7%	5.1%	4.9%	4.7%
Free cash flow yield	15.5%	14.9%	7.0%	-6.3%	-2.0%	12.1%	4.5%	1.0%
Earnings yield	4.3%	7.6%	7.2%	7.7%	7.4%	6.2%	6.8%	6.9%
Enterprise value	DKK 19.8B	DKK 18.1B	DKK 19.5B	DKK 18.4B	DKK 16.6B	DKK 16.7B	DKK 16.7B	DKK 14.1B
Net debt / EBITDA	1.63×	1.84×	2.26×	2.63×	1.34×	0.92×	1.68×	1.57×
Cash conversion cycle (days)	82	95	89	107	95	75	105	92