Symrise AG (SY1.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

-20.9%

€74.62

vs €94.32 price

Levered DCF

€115.26

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

4.03

Safe zone

Rating

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	38.7×	30.01×	40.25×	50.83×	47.55×	47.75×	43.43×	31.19×
P/B	2.59×	3.61×	3.78×	4×	5.58×	6.38×	5.25×	4.54×
P/S	1.96×	2.87×	2.9×	3.08×	4.65×	4.17×	3.71×	2.72×
EV / EBITDA	12.39×	15.56×	18.89×	21.06×	23.72×	21.78×	20.65×	15.8×
Gross margin	37.6%	39.3%	35.8%	36.9%	38.7%	39.5%	40.1%	39.4%
Operating margin	12.4%	14.4%	11.8%	10.9%	14.6%	13.8%	13.6%	13.8%
Net margin	5.1%	9.6%	7.2%	6.1%	9.8%	8.7%	8.8%	8.7%
Current ratio	2.52×	1.61×	2.89×	2.76×	2.04×	3.5×	1.83×	1.51×
Debt / equity	0.7×	0.64×	0.7×	0.72×	0.56×	0.9×	0.86×	0.88×
Interest coverage	7.43×	9.16×	5.79×	8.24×	13.55×	7.23×	7.44×	9.65×
Dividend yield	1.7%	1.1%	1.1%	1.0%	0.7%	0.9%	1.0%	1.4%
Payout ratio	67.3%	32.2%	43.1%	50.9%	35.0%	41.9%	40.9%	42.5%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	6.7%	12.0%	9.4%	7.9%	11.8%	13.3%	12.4%	14.6%
Return on invested capital	5.4%	7.3%	6.0%	4.9%	7.1%	6.8%	6.3%	7.2%
Return on assets	3.1%	5.7%	4.3%	3.6%	5.6%	5.2%	5.0%	5.6%
Free cash flow yield	5.4%	4.7%	3.3%	0.8%	2.0%	3.3%	2.9%	2.5%
Earnings yield	2.6%	3.3%	2.5%	2.0%	2.1%	2.1%	2.4%	3.2%
Enterprise value	€11.2B	€16.2B	€15.9B	€16.4B	€19.2B	€16B	€14.3B	€10B
Net debt / EBITDA	1.77×	1.77×	2.57×	2.86×	1.67×	1.83×	2.34×	2.19×
Cash conversion cycle (days)	159	171	170	178	170	155	171	173