Swiss Properties Invest A/S (SWISS.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

+297.4%

DKK 409.37

vs DKK 103.00 price

Levered DCF

-DKK 1,378.24

After debt service

Piotroski score

5 / 9

Average

Altman Z-score

0.74

Distress 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
P/E	8.95×	3.54×	15.75×	-37.93×	-2,817.2×
P/B	0.67×	0.67×	0.83×	0.99×	11.38×
P/S	5.92×	10.68×	10.36×	37.55×	0×
EV / EBITDA	17.89×	36.04×	30.54×	-935.46×	-1,547.77×
Gross margin	70.4%	100.0%	100.0%	5.9%	0.0%
Operating margin	64.7%	91.5%	123.5%	-7.0%	0.0%
Net margin	66.2%	301.3%	65.8%	-99.0%	0.0%
Current ratio	1.02×	0.45×	1.97×	0.42×	27.66×
Debt / equity	1.28×	1.41×	1.57×	1.13×	0×
Interest coverage	3.77×	0×	2.55×	-0.08×	-19.95×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021
Return on equity	7.5%	18.8%	5.3%	-2.6%	-0.4%
Return on invested capital	2.7%	2.0%	3.3%	-0.1%	-0.7%
Return on assets	3.2%	7.6%	2.0%	-1.2%	-0.4%
Free cash flow yield	3.0%	-29.0%	-103.9%	-177.5%	-0.1%
Earnings yield	11.2%	28.2%	6.4%	-2.6%	-0.0%
Enterprise value	DKK 647.5M	DKK 631.5M	DKK 577M	DKK 371.5M	DKK 233M
Net debt / EBITDA	11.61×	24.36×	19.45×	-396.56×	147.07×
Cash conversion cycle (days)	-14	-10	29	-46	0