Notes on the components of Equity Ratio: Equity* (1,027,3) assumes no impact at the closing of MacGregor sale; and Total assets** (1878,5) is derived from Hiab Total assets (2,450) - Assets held for sale (792) + approximate cash impact of MacGregor sale (220).
| Valuation | FY 2025 E | FY 2026 E | FY 2027 E |
|---|---|---|---|
| EV/Sales | 1.93 | 1.82 | 1.72 |
| EV/EBIT adj. | 14.2 | 12.8 | 11.6 |
| P/E rep. | 17.5 | 15.6 | 14.0 |
| Dividend yield in % | 3.01 | 3.25 | 3.49 |
| Estimates overview | FY 2025 E | FY 2026 E | FY 2027 E |
|---|---|---|---|
| Orders received | 1,557.0 | 1,655.9 | 1,767.1 |
| Sales (in EUR m) | 1,578.5 | 1,667.5 | 1,764.6 |
| Comparable operating profit | 213.8 | 238.3 | 262.2 |
| Comparable operating profit margin in % | 13.5 | 14.3 | 14.9 |
| EPS rep. (in EUR) | 2.42 | 2.73 | 3.03 |
| DPS (in EUR) | 1.28 | 1.38 | 1.48 |
| General data (as of last trading day) | |
|---|---|
| Share price in LC | 42.5 |
| Share price performance YTD in % | -16.9 |
| Market capitalization (in EUR m) | 2,747.5 |
| Enterprise value (in EUR m) | 3,039.4 |
| Equity ratio in % (FY 2024) | 54.7 |
| Sales, CAGR in % (FY 2024-FY 2026) | 0.62 |
| EPS rep., CAGR in % (FY 2024-FY 2026) | 6.65 |
This document has been issued by Vara Research GmbH for information purposes only and is not intended to constitute investment advice. It is based on estimates and forecasts of various analysts regarding revenues, earnings and business developments of the relevant company. The company did not participate in the compilation of the estimates and it does not endorse them. Such estimates and forecasts cannot be independently verified by reason of the subjective character. Vara Research GmbH gives no guarantee, representation or warranty and is not responsible or liable as to its accuracy and completeness.
