Schloss Wachenheim AG (SWA.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

+49.8%

€22.24

vs €14.85 price

Levered DCF

€54.77

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

2.05

Grey 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	13.2×	15.15×	12.75×	11.88×	9.88×	14.39×	15.31×	11.59×
P/B	0.53×	0.6×	0.61×	0.68×	0.74×	0.86×	0.69×	0.76×
P/S	0.24×	0.27×	0.27×	0.31×	0.35×	0.42×	0.34×	0.38×
EV / EBITDA	4.84×	4.69×	4.59×	4.44×	4.43×	5.2×	5.65×	5.14×
Gross margin	22.1%	42.7%	41.6%	42.0%	43.4%	43.4%	43.1%	43.2%
Operating margin	5.1%	6.1%	6.4%	6.4%	7.6%	6.9%	5.6%	6.8%
Net margin	1.8%	1.8%	2.1%	2.6%	3.6%	2.9%	2.3%	3.2%
Current ratio	1.52×	1.59×	1.52×	1.53×	1.54×	1.56×	1.52×	1.59×
Debt / equity	0.53×	0.49×	0.5×	0.4×	0.39×	0.36×	0.46×	0.3×
Interest coverage	3.87×	4.16×	4.8×	7.94×	16.67×	15.7×	11.33×	17.8×
Dividend yield	4.4%	3.9%	3.9%	3.7%	2.9%	2.1%	3.4%	3.1%
Payout ratio	58.0%	59.3%	50.2%	43.6%	28.8%	30.4%	52.0%	36.4%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	4.1%	4.0%	4.8%	5.7%	7.5%	6.0%	4.5%	6.6%
Return on invested capital	4.3%	5.3%	6.1%	6.3%	7.2%	6.4%	4.9%	6.4%
Return on assets	1.7%	1.7%	2.0%	2.5%	3.4%	2.8%	2.0%	3.1%
Free cash flow yield	2.7%	15.0%	-0.5%	9.3%	3.2%	16.3%	1.2%	10.0%
Earnings yield	7.6%	6.6%	7.8%	8.4%	10.1%	6.9%	6.5%	8.6%
Enterprise value	€204.3M	€211.4M	€211.4M	€198.8M	€199.4M	€206.1M	€187.8M	€166.5M
Net debt / EBITDA	2.29×	2×	1.96×	1.54×	1.42×	1.4×	2.15×	1.23×
Cash conversion cycle (days)	165	192	192	195	183	178	136	175