Skjern Bank A/S (SKJE.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

+322.4%

DKK 1,636.93

vs DKK 387.50 price

Levered DCF

DKK 528.87

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

-0.26

Distress 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	11.25×	7.53×	5.47×	8.11×	6.31×	6.21×	4.65×	4.07×
P/B	1.37×	1.12×	0.87×	0.86×	0.8×	0.61×	0.58×	0.63×
P/S	3.67×	2.6×	1.97×	2.59×	2.36×	1.71×	1.52×	1.46×
EV / EBITDA	-4.74×	-2.75×	-2.57×	-8.14×	-7.3×	-9.81×	-5.96×	-0.83×
Gross margin	92.9%	87.0%	91.6%	95.8%	95.6%	94.8%	95.6%	95.6%
Operating margin	46.6%	46.8%	49.0%	42.1%	48.3%	36.3%	41.9%	41.5%
Net margin	33.3%	35.2%	36.7%	33.1%	38.6%	29.2%	34.4%	35.9%
Current ratio	0.34×	0.29×	0.24×	0.31×	0.32×	0.4×	0.31×	0.18×
Debt / equity	0.04×	0.06×	0.06×	0.07×	0.08×	0.25×	0.3×	0.28×
Interest coverage	6.57×	3.6×	5.85×	10×	10.98×	6.99×	9.45×	9.34×
Dividend yield	1.2%	2.4%	2.1%	2.5%	1.9%	4.3%	4.8%	0.0%
Payout ratio	13.5%	17.6%	11.2%	19.2%	11.8%	25.0%	21.3%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	12.4%	15.2%	16.3%	11.0%	13.1%	10.4%	13.2%	15.4%
Return on invested capital	8.8%	11.6%	12.3%	8.5%	9.9%	-9.8%	9.7%	11.4%
Return on assets	1.6%	2.1%	2.2%	1.3%	1.6%	1.3%	1.8%	2.1%
Free cash flow yield	0.0%	0.0%	2.2%	1.1%	1.5%	1.5%	0.9%	0.0%
Earnings yield	9.1%	13.6%	18.7%	12.8%	16.4%	17.1%	22.6%	24.6%
Enterprise value	-DKK 1.7B	-DKK 1B	-DKK 924.4M	-DKK 1.6B	-DKK 1.5B	-DKK 1.5B	-DKK 1B	-DKK 139.1M
Net debt / EBITDA	-12.43×	-8.09×	-6.42×	-14.09×	-12.01×	-14.36×	-9.53×	-4.29×
Cash conversion cycle (days)	0	0	0	5	0	0	1	2