Scandinavian Medical Solutions A/S (SMSMED.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

-6472.2%

-DKK 170.14

vs DKK 2.67 price

Levered DCF

-DKK 203.77

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

2.07

Grey zone

Rating

C-

Overall 1 / 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
P/E	4,433.33×	23.57×	22.89×	10.47×	13.33×	30.59×	47.27×
P/B	1.34×	2.2×	3.78×	1.93×	4.47×	29.03×	45.15×
P/S	0.45×	0.8×	1.47×	1.09×	1.51×	3.38×	4.54×
EV / EBITDA	15.64×	9.97×	14.22×	5.94×	7.42×	21.93×	35.03×
Gross margin	14.0%	17.7%	18.2%	20.5%	19.4%	17.6%	15.4%
Operating margin	0.7%	6.1%	8.7%	13.3%	15.2%	14.2%	12.5%
Net margin	0.0%	3.4%	6.4%	10.3%	11.4%	10.8%	9.7%
Current ratio	1.56×	1.57×	1.6×	2.3×	2.16×	1.4×	1.5×
Debt / equity	0.77×	0.48×	0.38×	0×	0×	0.06×	0.03×
Interest coverage	0.83×	2.63×	17.02×	58.07×	20.28×	21.46×	861.56×
Dividend yield	0.0%	0.0%	0.0%	0.0%	4.2%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	55.4%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	0.0%	9.4%	16.4%	18.3%	33.8%	92.4%	96.8%
Return on invested capital	0.1%	8.7%	12.5%	17.3%	34.9%	85.1%	93.6%
Return on assets	0.0%	4.5%	7.5%	10.7%	18.3%	26.4%	32.4%
Free cash flow yield	-31.0%	-8.3%	-17.5%	-20.2%	3.7%	6.6%	0.0%
Earnings yield	0.0%	4.3%	4.3%	9.5%	7.6%	3.2%	2.1%
Enterprise value	DKK 171.8M	DKK 209.5M	DKK 301.9M	DKK 92.5M	DKK 82.4M	DKK 131.3M	DKK 137.7M
Net debt / EBITDA	5.59×	1.34×	0.97×	-1.78×	-2.29×	-1.73×	-1.01×
Cash conversion cycle (days)	138	127	150	137	59	-21	-8