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 2,720 - -
Change - -3.26% 14.9% 57.44% -28.56% 25.29% - -
Enterprise Value (EV) 1 2,444 2,277 2,385 3,397 2,529 2,871 2,707 2,496
Change - -6.86% 4.75% 42.43% -25.55% 13.54% -5.72% -7.8%
P/E 27.6x 36.9x 46.1x 31.3x 22.7x 21.3x 18.1x 17.9x
PBR 10x 6.71x 7.56x 10.9x 6.38x 5.61x 4.48x 2.99x
PEG - -1.3x -5.58x 0x -26.33x 0.6x 1x 15.66x
Capitalization / Revenue 0.63x 0.59x 0.68x 1.06x 0.78x 0.93x 0.9x 0.86x
EV / Revenue 0.89x 0.8x 0.84x 1.18x 0.91x 0.99x 0.89x 0.79x
EV / EBITDA 7.15x 5.92x 5.72x 7.63x 5.63x 5.93x 5.14x -
EV / EBIT 11.9x 12x 14.5x 11.4x 8.83x 7.57x 6.45x 5.83x
EV / FCF 47.5x 12x 12.7x 19.2x 15.5x 10.9x 9.18x -
FCF Yield 2.11% 8.34% 7.87% 5.21% 6.44% 9.16% 10.9% -
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% 1.76% 1.93% 1.83%
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 65.40 65.40 65.40
Nbr of stocks (in thousands) 41,688 41,784 41,864 41,910 41,587 41,589 - -
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.($)
21.32x0.99x5.93x1.76% 3.37B
19.01x3.33x13.32x1.43% 13.23B
9.51x2.49x4.86x2.93% 5.49B
14.15x0.96x6.25x - 2.97B
17.77x0.61x4.66x4.03% 2B
80.24x - - - 1.45B
23.01x - - - 1.35B
22.7x - - - 1.33B
29.27x1.26x11.7x0.47% 1.13B
Average 26.33x 1.61x 7.79x 2.12% 3.59B
Weighted average by Cap. 20.54x 2.36x 9.36x 1.97%

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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