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 2,499 - -
Change - -3.26% 14.9% 57.44% -28.56% 15.13% - -
Enterprise Value (EV) 1 2,444 2,277 2,385 3,397 2,529 2,651 2,487 2,275
Change - -6.86% 4.75% 42.43% -25.55% 4.82% -6.19% -8.5%
P/E 27.6x 36.9x 46.1x 31.3x 22.7x 19.6x 16.7x 16.5x
PBR 10x 6.71x 7.56x 10.9x 6.38x 5.15x 4.12x 2.75x
PEG - -1.3x -5.58x 0x -26.33x 0.6x 1x 14.43x
Capitalization / Revenue 0.63x 0.59x 0.68x 1.06x 0.78x 0.86x 0.82x 0.79x
EV / Revenue 0.89x 0.8x 0.84x 1.18x 0.91x 0.91x 0.82x 0.72x
EV / EBITDA 7.15x 5.92x 5.72x 7.63x 5.63x 5.47x 4.72x -
EV / EBIT 11.9x 12x 14.5x 11.4x 8.83x 6.99x 5.93x 5.31x
EV / FCF 47.5x 12x 12.7x 19.2x 15.5x 10.1x 8.43x -
FCF Yield 2.11% 8.34% 7.87% 5.21% 6.44% 9.92% 11.9% -
Dividend per Share 2 1.15 0.95 0.8 0.92 0.95 1.15 1.262 1.2
Rate of return 2.76% 2.36% 1.74% 1.27% 1.82% 1.91% 2.1% 2%
EPS 2 1.51 1.09 1 2.32 2.3 3.068 3.606 3.647
Distribution rate 76.2% 87.2% 80% 39.7% 41.3% 37.5% 35% 32.9%
Net sales 1 2,757 2,849 2,837 2,870 2,792 2,913 3,032 3,150
EBITDA 1 342 384.8 416.9 445 449 484.6 526.5 -
EBIT 1 204.8 189 165 296.7 286.5 379.4 419.5 428.3
Net income 1 63.2 45.7 42.2 97.9 97 129.8 148.2 154.1
Net Debt 1 708.1 596.9 454.8 358.2 358.1 151.5 -12.64 -223.9
Reference price 2 41.65 40.20 46.10 72.50 52.20 60.10 60.10 60.10
Nbr of stocks (in thousands) 41,688 41,784 41,864 41,910 41,587 41,587 - -
Announcement Date 01/09/22 01/09/23 02/09/24 02/09/25 31/08/26 - - -
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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