technotrans SE (TTR1.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

+50.0%

€40.49

vs €27.00 price

Levered DCF

€78.68

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

4.76

Safe zone

Rating

Overall 4 / 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	20.66×	17.55×	17.58×	19.73×	28.92×	34.72×	21.25×	14.08×
P/B	2.24×	1.31×	1.58×	1.93×	2.4×	2.17×	1.72×	2.31×
P/S	0.97×	0.54×	0.57×	0.74×	0.97×	0.91×	0.62×	0.8×
EV / EBITDA	10.43×	7.77×	8.04×	9.5×	12.12×	13.95×	9.24×	8.35×
Gross margin	27.9%	27.1%	26.6%	26.8%	27.1%	26.3%	27.7%	30.9%
Operating margin	6.8%	5.1%	5.4%	5.6%	5.0%	4.9%	4.0%	7.0%
Net margin	4.7%	3.1%	3.3%	3.7%	3.3%	2.6%	2.9%	5.7%
Current ratio	2.53×	2.41×	2.47×	1.94×	2.24×	2.19×	2.3×	2.33×
Debt / equity	0.28×	0.38×	0.46×	0.42×	0.4×	0.6×	0.6×	0.46×
Interest coverage	12.63×	7.69×	9.1×	14.26×	16.79×	12.7×	11.6×	27.76×
Dividend yield	1.5%	3.3%	2.9%	2.0%	1.2%	0.0%	4.7%	3.5%
Payout ratio	31.9%	58.5%	51.8%	39.6%	35.4%	0.0%	99.9%	49.1%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	10.8%	7.4%	8.9%	9.8%	8.3%	6.2%	8.1%	16.5%
Return on invested capital	8.5%	5.8%	6.6%	6.6%	5.8%	5.8%	5.1%	9.5%
Return on assets	7.0%	4.5%	4.9%	5.4%	4.7%	3.3%	4.1%	9.0%
Free cash flow yield	7.0%	6.6%	8.4%	-2.2%	4.8%	2.2%	5.8%	-1.2%
Earnings yield	4.8%	5.7%	5.7%	5.1%	3.4%	2.9%	4.7%	7.1%
Enterprise value	€245.2M	€147M	€171.3M	€201.8M	€219.1M	€194.2M	€153.4M	€192.9M
Net debt / EBITDA	0.35×	0.98×	0.97×	1.22×	0.85×	1.55×	1.46×	0.81×
Cash conversion cycle (days)	116	120	116	135	106	100	99	101