Schaeffler AG (SHA0.DE) 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

+120.8%

€12.85

vs €5.82 price

Levered DCF

€18.76

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.5

Distress zone

Rating

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	-18.58×	-4.93×	12.35×	7.57×	6.39×	-10.69×	15.05×	5.61×
P/B	2.72×	0.82×	1×	1.05×	1.59×	2.36×	2.27×	1.66×
P/S	0.34×	0.17×	0.23×	0.27×	0.35×	0.36×	0.44×	0.35×
EV / EBITDA	5.99×	6.04×	3.52×	3.53×	3.27×	7.11×	4.33×	3.52×
Gross margin	18.4%	21.1%	21.5%	22.6%	24.8%	22.7%	24.8%	25.9%
Operating margin	2.7%	7.5%	6.8%	6.8%	9.1%	6.5%	8.0%	9.2%
Net margin	-1.8%	-3.5%	1.9%	3.5%	5.5%	-3.4%	3.0%	6.2%
Current ratio	1.45×	1.28×	1.33×	1.62×	1.53×	1.74×	1.49×	1.57×
Debt / equity	2.67×	1.76×	1.11×	0.87×	1.31×	2.2×	1.2×	1.13×
Interest coverage	2.35×	3.97×	5.67×	8.68×	10.03×	6.73×	11.17×	13.18×
Dividend yield	3.1%	9.8%	8.1%	7.9%	3.4%	6.5%	5.6%	7.3%
Payout ratio	-58.5%	-48.4%	98.7%	60.3%	21.8%	-69.6%	84.3%	41.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-14.6%	-16.6%	8.2%	13.9%	24.8%	-22.2%	15.2%	29.6%
Return on invested capital	4.1%	-1842.8%	6.1%	7.4%	8.5%	8.3%	8.5%	10.9%
Return on assets	-1.9%	-3.0%	2.1%	3.9%	5.3%	-3.2%	3.3%	7.1%
Free cash flow yield	5.2%	13.9%	10.8%	8.2%	12.5%	13.6%	8.7%	7.9%
Earnings yield	-5.4%	-20.3%	8.2%	13.1%	15.6%	-9.4%	6.7%	17.9%
Enterprise value	€13.3B	€8.9B	€7.5B	€6.9B	€7.2B	€7.3B	€9.1B	€7.5B
Net debt / EBITDA	2.43×	3.91×	1.74×	1.37×	1.08×	2.67×	1.29×	1.2×
Cash conversion cycle (days)	70	79	72	73	76	71	69	60