Company Valuation: dormakaba Holding AG

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,621 1,736 1,680 1,930 3,038 2,404 - -
Change - -33.76% -3.26% 14.9% 57.44% -20.89% - -
Enterprise Value (EV) 1 3,130 2,444 2,277 2,385 3,397 2,682 2,555 2,391
Change - -21.9% -6.86% 4.75% 42.43% -21.04% -4.72% -6.42%
P/E 26.2x 27.6x 36.9x 46.1x 31.3x 23.7x 18.8x 16x
PBR 12.6x 10x 6.71x 7.56x 10.9x 6.36x 4.95x 3.96x
PEG - -0.7x -1.3x -5.58x 0x 4.81x 0.7x 0.9x
Capitalization / Revenue 1.05x 0.63x 0.59x 0.68x 1.06x 0.86x 0.83x 0.79x
EV / Revenue 1.25x 0.89x 0.8x 0.84x 1.18x 0.96x 0.88x 0.79x
EV / EBITDA 8.86x 7.15x 5.92x 5.72x 7.63x 5.93x 5.27x 4.54x
EV / EBIT 11.4x 11.9x 12x 14.5x 11.4x 8.11x 6.73x 5.7x
EV / FCF 13x 47.5x 12x 12.7x 19.2x 12.2x 9.72x 8.11x
FCF Yield 7.68% 2.11% 8.34% 7.87% 5.21% 8.22% 10.3% 12.3%
Dividend per Share 2 1.25 1.15 0.95 0.8 0.92 0.9799 1.15 1.262
Rate of return 1.98% 2.76% 2.36% 1.74% 1.27% 1.7% 1.99% 2.18%
EPS 2 2.41 1.51 1.09 1 2.32 2.434 3.068 3.606
Distribution rate 51.9% 76.2% 87.2% 80% 39.7% 40.3% 37.5% 35%
Net sales 1 2,500 2,757 2,849 2,837 2,870 2,803 2,913 3,032
EBITDA 1 353.1 342 384.8 416.9 445 452.1 484.6 526.5
EBIT 1 274.3 204.8 189 165 296.7 330.5 379.4 419.5
Net income 1 100.8 63.2 45.7 42.2 97.9 101.6 129.8 148.2
Net Debt 1 508.8 708.1 596.9 454.8 358.2 278.1 151.5 -12.64
Reference price 2 63.05 41.65 40.20 46.10 72.50 57.80 57.80 57.80
Nbr of stocks (in thousands) 41,572 41,688 41,784 41,864 41,910 41,587 - -
Announcement Date 9/1/21 9/1/22 9/1/23 9/2/24 9/2/25 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.74x0.96x5.93x1.7% 2.97B
18.97x3.32x13.29x1.44% 13.2B
9.35x2.48x4.83x2.98% 5.4B
14.02x0.95x6.21x - 2.94B
18.08x0.62x4.79x3.96% 2.02B
78.27x - - - 1.42B
23.2x - - - 1.36B
22.21x - - - 1.3B
30.19x1.35x12.57x0.46% 1.16B
Average 26.45x 1.61x 7.94x 2.11% 3.53B
Weighted average by Cap. 20.63x 2.37x 9.45x 1.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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