Semperit AG Holding (SEM.VI) 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

+249.2%

€62.15

vs €17.80 price

Levered DCF

€50.86

After debt service

Piotroski score

8 / 9

Strong

Altman Z-score

2.26

Grey 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	610.78×	21.14×	-17.27×	-73.41×	2.44×	2.68×	-5.16×	-2.57×
P/B	0.62×	0.57×	0.68×	0.79×	1.12×	1.5×	0.84×	0.62×
P/S	0.39×	0.36×	0.43×	0.52×	0.51×	0.54×	0.27×	0.23×
EV / EBITDA	6.13×	4.52×	6.56×	4.07×	9.95×	1.94×	18.63×	-20.42×
Gross margin	16.1%	56.8%	12.5%	49.3%	58.3%	54.5%	43.1%	41.6%
Operating margin	2.7%	5.2%	5.0%	7.4%	25.5%	25.4%	3.2%	0.6%
Net margin	0.1%	1.7%	-2.5%	-0.7%	20.9%	20.8%	-5.3%	-9.1%
Current ratio	1.78×	1.84×	2.05×	3.27×	1.99×	1.5×	2.21×	2.6×
Debt / equity	0.61×	0.66×	0.65×	0.14×	0.21×	0.52×	0.82×	0.71×
Interest coverage	1.22×	1.99×	4.36×	21.97×	74.6×	43.61×	2.2×	0.58×
Dividend yield	4.0%	4.2%	31.8%	7.6%	5.1%	1.6%	4.6%	0.0%
Payout ratio	2449.3%	89.4%	-550.8%	-558.1%	12.5%	4.0%	-23.7%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	0.1%	2.7%	-4.0%	-1.1%	45.7%	58.0%	-16.3%	-24.2%
Return on invested capital	0.1%	2.3%	4.1%	6.1%	34.4%	34.4%	4.8%	0.8%
Return on assets	0.0%	1.3%	-1.8%	-0.7%	25.8%	25.2%	-6.3%	-10.4%
Free cash flow yield	12.0%	12.3%	3.6%	-2.0%	40.0%	33.3%	25.4%	-34.5%
Earnings yield	0.2%	4.7%	-5.8%	-1.4%	41.0%	38.6%	-19.4%	-38.9%
Enterprise value	€414.9M	€400.4M	€454.9M	€373.5M	€479.3M	€528.1M	€311.3M	€317.8M
Net debt / EBITDA	2.34×	1.77×	2.36×	-0.37×	-2.56×	0.1×	4.91×	-7.25×
Cash conversion cycle (days)	69	80	84	101	96	91	87	102