Sixt SE (SIX2.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

+97.2%

€150.85

vs €76.50 price

Levered DCF

€46.83

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.38

Distress 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	11.63×	15.14×	14.17×	10.46×	23.33×	-134.52×	17.97×	7.65×
P/B	1.54×	1.73×	2.37×	2.04×	4.18×	3.31×	2.88×	2.48×
P/S	0.78×	0.92×	1.31×	1.32×	3.2×	3.01×	1.68×	1.11×
EV / EBITDA	8.4×	9.34×	9.93×	8.58×	14.78×	52.23×	16.58×	5.28×
Gross margin	38.6%	77.7%	78.5%	79.5%	77.8%	55.5%	75.5%	65.8%
Operating margin	12.7%	12.1%	15.8%	19.2%	17.0%	26.6%	15.2%	12.7%
Net margin	6.7%	6.1%	9.3%	12.6%	13.7%	-2.2%	9.4%	14.5%
Current ratio	2.89×	3.28×	2.45×	2.58×	3.4×	3.45×	2.27×	2.59×
Debt / equity	1.68×	1.47×	1.65×	1.27×	1.15×	1.71×	2.36×	2.08×
Interest coverage	3.68×	3.13×	5.11×	14.68×	10.28×	10.93×	11.8×	10.21×
Dividend yield	3.8%	5.0%	6.0%	4.3%	0.0%	0.0%	2.4%	5.9%
Payout ratio	44.5%	75.2%	85.7%	45.1%	0.3%	-2.5%	43.2%	45.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	13.3%	11.5%	16.7%	19.5%	17.9%	-2.4%	16.1%	32.4%
Return on invested capital	6.7%	6.6%	7.0%	9.1%	7.3%	10.8%	5.3%	7.3%
Return on assets	4.0%	3.7%	5.2%	6.9%	6.9%	-0.8%	3.7%	8.2%
Free cash flow yield	-5.2%	26.8%	-3.2%	-6.6%	0.6%	14.0%	-2.1%	-12.3%
Earnings yield	8.6%	6.6%	7.1%	9.6%	4.3%	-0.7%	5.6%	13.1%
Enterprise value	€6.8B	€6.7B	€8B	€6.5B	€9B	€6.2B	€7.5B	€5.9B
Net debt / EBITDA	4.29×	4.16×	4.06×	3.26×	2.84×	13.61×	7.25×	2.34×
Cash conversion cycle (days)	-5	-135	-101	1,948	1,869	1,118	857	831