Strategic Investments A/S (STRINV.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

-87.2%

DKK 0.07

vs DKK 0.57 price

Levered DCF

-DKK 0.10

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

2.62

Grey zone

Rating

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	4.73×	-2.63×	9.92×	12.25×	6×	-1,070×	14.01×	-7.57×
P/B	0.77×	1.36×	0.9×	1.05×	1.12×	1.14×	1.04×	1.17×
P/S	3.68×	-2.95×	7.71×	8.91×	5.42×	43.31×	10.48×	-8.33×
EV / EBITDA	5.58×	-3.05×	9.88×	13.69×	7.37×	1,768.65×	14.18×	-385.11×
Gross margin	95.0%	101.0%	92.8%	92.6%	96.7%	65.1%	97.3%	102.1%
Operating margin	82.9%	106.6%	76.3%	79.4%	88.5%	3.0%	82.3%	109.6%
Net margin	76.5%	113.4%	75.8%	72.8%	89.1%	-4.0%	74.8%	110.0%
Current ratio	0×	0×	0×	0.09×	0.07×	0×	0.44×	32.87×
Debt / equity	0.2×	0.16×	0.12×	0.24×	0.23×	0.32×	0.21×	0×
Interest coverage	16.47×	-102.91×	10.52×	10.77×	26.56×	0.08×	30.67×	-52.92×
Dividend yield	2.8%	1.8%	4.7%	1.7%	5.0%	1.9%	0.0%	1.9%
Payout ratio	13.6%	-4.8%	47.4%	20.2%	30.4%	-2014.9%	0.0%	-14.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	16.0%	-52.3%	8.8%	8.6%	18.4%	-0.1%	7.5%	-15.4%
Return on invested capital	11.8%	-41.9%	7.8%	7.2%	15.5%	-0.1%	6.5%	-15.1%
Return on assets	13.0%	-44.5%	7.8%	6.8%	14.6%	-0.1%	6.1%	-15.1%
Free cash flow yield	-0.8%	-2.2%	-2.1%	16.5%	17.0%	1.7%	23.9%	-46.9%
Earnings yield	20.8%	-38.4%	9.8%	8.2%	16.5%	-0.1%	7.1%	-13.2%
Enterprise value	DKK 360M	DKK 475.5M	DKK 427.8M	DKK 497.8M	DKK 488M	DKK 436.9M	DKK 375.8M	DKK 333.1M
Net debt / EBITDA	1.14×	-0.28×	-0.23×	2.46×	1.25×	306.7×	1.45×	17.74×
Cash conversion cycle (days)	64	-60	18	25,397	31,094	121	-822	-96