Softing AG (SYT.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

+479.4%

€13.67

vs €2.36 price

Levered DCF

€9.58

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

1.23

Distress 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	-5.18×	-15.3×	-8.31×	-35.2×	-906.67×	-10.52×	25.16×	17.47×
P/B	0.55×	0.49×	0.91×	0.78×	0.97×	0.76×	1.02×	0.85×
P/S	0.31×	0.29×	0.43×	0.48×	0.72×	0.62×	0.78×	0.69×
EV / EBITDA	22.89×	4.6×	4.62×	6.92×	6.57×	8.67×	6.01×	5.85×
Gross margin	8.7%	28.3%	27.3%	7.0%	23.7%	24.1%	28.9%	21.9%
Operating margin	-7.0%	0.5%	-2.4%	-2.1%	0.0%	-7.4%	4.7%	4.9%
Net margin	-6.0%	-1.9%	-5.2%	-1.4%	-0.1%	-5.9%	3.1%	4.0%
Current ratio	1.57×	1.73×	1.69×	1.81×	1.79×	1.94×	2.13×	1.67×
Debt / equity	0.37×	0.43×	0.38×	0.32×	0.24×	0.31×	0.28×	0.12×
Interest coverage	-6.48×	0.51×	-4.23×	-5.04×	0.04×	-15.11×	9.87×	17.67×
Dividend yield	0.0%	4.4%	2.4%	1.9%	0.6%	0.8%	1.7%	1.7%
Payout ratio	0.0%	-66.4%	-20.0%	-64.6%	-530.9%	-7.9%	42.2%	29.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-10.6%	-3.3%	-10.9%	-2.3%	-0.1%	-7.3%	4.1%	4.9%
Return on invested capital	-6.5%	0.5%	-3.2%	-2.2%	-0.0%	-5.4%	3.0%	3.6%
Return on assets	-5.2%	-1.6%	-5.7%	-1.3%	-0.1%	-4.4%	2.4%	3.4%
Free cash flow yield	10.8%	8.2%	18.4%	5.4%	10.2%	-1.1%	4.2%	2.9%
Earnings yield	-19.4%	-6.6%	-12.0%	-2.9%	-0.1%	-9.6%	4.0%	5.7%
Enterprise value	€38M	€42.4M	€64.2M	€60.6M	€66.6M	€57.2M	€75.2M	€56.8M
Net debt / EBITDA	7.1×	1.6×	1.12×	1.48×	0.52×	1.43×	0.33×	-0.15×
Cash conversion cycle (days)	120	132	118	102	105	120	98	87