Company Valuation: dormakaba Holding AG

Data adjusted to current consolidation scope
Fiscal Period: June 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,736 1,680 1,930 3,038 2,171 2,583 - -
Change - -3.26% 14.9% 57.44% -28.56% 18.97% - -
Enterprise Value (EV) 1 2,444 2,277 2,385 3,397 2,529 2,843 2,692 2,579
Change - -6.86% 4.75% 42.43% -25.55% 12.4% -5.29% -4.2%
P/E 27.6x 36.9x 46.1x 31.3x 22.7x 21.8x 18.5x 17.6x
PBR 10x 6.71x 7.56x 10.9x 6.38x 5.45x 4.4x 3.57x
PEG - -1.3x -5.58x 0x -26.33x 0.9x 1x 3.47x
Capitalization / Revenue 0.63x 0.59x 0.68x 1.06x 0.78x 0.89x 0.85x 0.82x
EV / Revenue 0.89x 0.8x 0.84x 1.18x 0.91x 0.98x 0.89x 0.82x
EV / EBITDA 7.15x 5.92x 5.72x 7.63x 5.63x 5.94x 5.26x 4.91x
EV / EBIT 11.9x 12x 14.5x 11.4x 8.83x 8.31x 6.78x 6.15x
EV / FCF 47.5x 12x 12.7x 19.2x 15.5x 10.8x 9.58x 8.91x
FCF Yield 2.11% 8.34% 7.87% 5.21% 6.44% 9.22% 10.4% 11.2%
Dividend per Share 2 1.15 0.95 0.8 0.92 0.95 1.131 1.231 1.275
Rate of return 2.76% 2.36% 1.74% 1.27% 1.82% 1.82% 1.98% 2.05%
EPS 2 1.51 1.09 1 2.32 2.3 2.852 3.355 3.525
Distribution rate 76.2% 87.2% 80% 39.7% 41.3% 39.7% 36.7% 36.2%
Net sales 1 2,757 2,849 2,837 2,870 2,792 2,913 3,035 3,149
EBITDA 1 342 384.8 416.9 445 449 478.7 512.1 525
EBIT 1 204.8 189 165 296.7 286.5 342.2 397.3 419.4
Net income 1 63.2 45.7 42.2 97.9 97 118.5 138.4 147.8
Net Debt 1 708.1 596.9 454.8 358.2 358.1 260 109.6 -3.592
Reference price 2 41.65 40.20 46.10 72.50 52.20 62.10 62.10 62.10
Nbr of stocks (in thousands) 41,688 41,784 41,864 41,910 41,587 41,589 - -
Announcement Date 9/1/22 A 9/1/23 A 9/2/24 A 9/2/25 A 8/31/26 A - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.78x0.98x5.94x1.82% 3.15B
18.67x3.28x13.11x1.46% 12.99B
8.9x2.42x4.73x3.13% 5.14B
13.52x0.93x6.06x - 2.83B
18.45x0.64x4.89x3.86% 2.05B
79.76x - - - 1.44B
22.05x - - - 1.29B
22.26x - - - 1.3B
27.27x1.16x10.79x0.51% 1.04B
Average 25.85x 1.57x 7.59x 2.16% 3.47B
Weighted average by Cap. 20.29x 2.33x 9.25x 2.02%

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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