Surteco Group SE (SUR.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

+1797.7%

€118.61

vs €6.25 price

Levered DCF

€60.30

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

1.64

Distress zone

Rating

B-

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	-11.96×	36.3×	-20×	11.72×	12.31×	11.11×	37.13×	18.58×
P/B	0.47×	0.74×	0.62×	0.7×	1.42×	1×	1×	0.99×
P/S	0.21×	0.35×	0.29×	0.4×	0.78×	0.6×	0.52×	0.49×
EV / EBITDA	4.75×	6.46×	8.85×	5.23×	6.33×	5.82×	7.88×	7.33×
Gross margin	15.9%	51.9%	47.9%	48.2%	51.7%	54.1%	51.9%	51.1%
Operating margin	5.3%	3.5%	0.2%	4.8%	9.8%	7.2%	3.8%	4.8%
Net margin	-1.7%	1.0%	-1.5%	3.4%	6.3%	5.4%	1.4%	2.7%
Current ratio	0.92×	2.06×	1.72×	2.98×	1.49×	2.12×	2.28×	1.93×
Debt / equity	1.08×	1×	1.2×	0.63×	0.55×	0.76×	0.77×	0.92×
Interest coverage	2.5×	1.48×	0.08×	7.21×	15.36×	9.54×	3.53×	4.44×
Dividend yield	2.7%	0.0%	4.4%	5.2%	2.1%	0.0%	2.4%	3.6%
Payout ratio	-32.5%	0.0%	-88.3%	61.5%	25.9%	0.0%	90.5%	66.6%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-3.9%	2.0%	-3.1%	5.9%	11.6%	9.0%	2.7%	5.3%
Return on invested capital	5.4%	1.4%	0.1%	3.3%	7.4%	5.1%	2.3%	3.1%
Return on assets	-1.5%	0.8%	-1.2%	3.0%	6.0%	4.2%	1.2%	2.2%
Free cash flow yield	4.1%	13.2%	25.2%	6.4%	1.8%	11.8%	13.4%	3.1%
Earnings yield	-8.4%	2.8%	-5.0%	8.5%	8.1%	9.0%	2.7%	5.4%
Enterprise value	€482.9M	€643.8M	€604.3M	€448.9M	€740.2M	€523.1M	€536.5M	€547.1M
Net debt / EBITDA	3.07×	3.41×	5.26×	1.78×	1.3×	1.66×	2.72×	2.7×
Cash conversion cycle (days)	70	85	79	107	114	93	98	97