Company Valuation: Dr. Martens plc

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 2,520 1,360 844 502.5 603.6 641.3 - -
Change - -46.04% -37.94% -40.47% 20.12% 6.24% - -
Enterprise Value (EV) 1 2,686 1,648 1,202 748.3 816.8 837.9 806.2 776.5
Change - -38.63% -27.11% -37.72% 9.16% 2.58% -3.78% -3.69%
P/E 13.9x 10.5x 12.5x 104x 26x 13.6x 10.9x 9.31x
PBR 7.7x 3.36x 2.35x 1.37x 1.69x 1.65x 1.48x 1.3x
PEG - -0.4x -0.3x -1.1x 0x 0x 0.4x 0.5x
Capitalization / Revenue 2.77x 1.36x 0.96x 0.64x 0.79x 0.82x 0.78x 0.74x
EV / Revenue 2.96x 1.65x 1.37x 0.95x 1.07x 1.07x 0.98x 0.9x
EV / EBITDA 10.2x 6.73x 6.08x 6.4x 5.53x 5.18x 4.51x 4x
EV / EBIT 11.7x 9.35x 9.83x 20.2x 10.3x 9.2x 7.61x 6.55x
EV / FCF 20.3x 63.6x 8.61x 4.21x 6.24x 18.2x 13.6x 11.9x
FCF Yield 4.92% 1.57% 11.6% 23.7% 16% 5.48% 7.35% 8.37%
Dividend per Share 2 0.055 0.0584 0.0255 0.0255 0.0255 0.025 0.0254 0.0254
Rate of return 2.18% 4.3% 2.91% 4.89% 4.09% 3.73% 3.79% 3.79%
EPS 2 0.181 0.129 0.07 0.005 0.024 0.0494 0.0615 0.072
Distribution rate 30.4% 45.3% 36.4% 510% 106% 50.6% 41.2% 35.3%
Net sales 1 908.3 1,000 877.1 787.6 764.9 783.6 821.8 863.2
EBITDA 1 263 245 197.5 117 147.7 161.6 178.7 194.4
EBIT 1 229.3 176.2 122.2 37 79.3 91.06 105.9 118.6
Net income 1 181.2 128.9 69.2 4.5 23.8 48.53 60.18 70.35
Net Debt 1 165.8 288.3 357.5 245.8 213.2 196.7 165 135.2
Reference price 2 2.5200 1.3590 0.8775 0.5210 0.6240 0.6700 0.6700 0.6700
Nbr of stocks (in thousands) 1,000,111 1,000,770 961,879 964,499 967,344 957,113 - -
Announcement Date 6/1/22 6/1/23 5/30/24 6/5/25 5/19/26 - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
10.61x1.54x6.64x-.--% 10.86B
9.42x1.66x6.8x-.--% 5.9B
16.03x1.47x8.2x5.12% 5.56B
15.29x2.46x8.04x-.--% 5.54B
12.79x0.3x4.07x5.91% 2.56B
6.28x - - - 2.29B
11.9x0.98x8.86x2.08% 1.59B
11.23x1.65x7.45x4.19% 1.48B
13.27x0.83x6.42x5.34% 1.16B
Average 11.87x 1.36x 7.06x 2.83% 4.1B
Weighted average by Cap. 11.98x 1.56x 7.08x 1.71%

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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