Wienerberger AG (WIE.VI) 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

+245.6%

€58.36

vs €16.89 price

Levered DCF

€39.51

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

1.57

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	20.14×	37.19×	9.42×	4.36×	11.76×	33.01×	12.12×	14.17×
P/B	1.2×	1.04×	1.19×	1.01×	1.7×	1.68×	1.45×	1.08×
P/S	0.73×	0.66×	0.75×	0.5×	0.92×	0.89×	0.87×	0.63×
EV / EBITDA	7.15×	7.64×	5.63×	3.59×	7.28×	9.05×	6.63×	6.53×
Gross margin	35.1%	35.7%	38.2%	39.1%	35.6%	33.5%	35.5%	34.5%
Operating margin	7.1%	6.5%	11.9%	14.5%	10.6%	5.8%	10.5%	7.3%
Net margin	3.6%	1.8%	7.9%	11.4%	7.9%	3.0%	7.6%	4.5%
Current ratio	1.52×	1.41×	1.71×	1.6×	1.61×	1.57×	1.14×	1.61×
Debt / equity	0.69×	0.74×	0.64×	0.59×	0.72×	0.91×	0.5×	0.43×
Interest coverage	3×	2.44×	6.42×	13.77×	9.96×	4.96×	8.7×	5.56×
Dividend yield	3.1%	3.4%	3.0%	3.4%	1.8%	2.3%	1.9%	1.7%
Payout ratio	62.7%	125.7%	28.4%	14.8%	21.6%	67.6%	21.8%	23.7%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	5.9%	2.8%	12.6%	23.2%	14.5%	5.7%	12.6%	7.6%
Return on invested capital	4.5%	3.0%	8.5%	14.1%	8.7%	3.5%	8.8%	5.9%
Return on assets	2.7%	1.2%	6.1%	10.9%	6.4%	2.3%	6.3%	3.9%
Free cash flow yield	10.5%	9.3%	4.4%	15.0%	6.3%	10.3%	5.8%	5.0%
Earnings yield	5.0%	2.7%	10.6%	22.9%	8.5%	3.4%	8.7%	7.0%
Enterprise value	€5.1B	€4.8B	€4.4B	€3.6B	€4.8B	€3.9B	€3.9B	€2.8B
Net debt / EBITDA	2.42×	2.95×	1.63×	1.14×	1.77×	2.18×	1.53×	1.59×
Cash conversion cycle (days)	140	138	142	109	110	107	115	108