Data as of Sep 5, 2026
EPV per share
40.60 EUR
Current price
40.02 EUR
Margin of safety
+1.4 %
Amounts in EUR; per-share values and price in EUR.
EBIT margin by year
Bridge: operations to equity
Sensitivity: EPV per share
| Margin \ WACC | 5.00 % | 6.00 % | 7.00 % | 8.00 % | 9.00 % |
|---|---|---|---|---|---|
| 6.22 % | 44.28 | 33.35 | 25.54 | 19.69 | 15.13 |
| 7.22 % | 54.83 | 42.14 | 33.07 | 26.28 | 20.99 |
| 8.22 % | 65.37 | 50.92 | 40.60 | 32.87 | 26.85 |
| 9.22 % | 75.91 | 59.71 | 48.14 | 39.45 | 32.70 |
| 10.22 % | 86.45 | 68.49 | 55.67 | 46.04 | 38.56 |
The normalized EBIT margin comes from only 4 financial year(s) (2022–2025); below 7 the window may not cover a full cycle and, in a cyclical business, capture only the peak or only the trough.
Computed WACC (6.0 %) below the 7 % floor; the floor is applied when discounting the EPV (it avoids a disproportionate value).
Amounts in EUR.
Capital structure and contribution to WACC
Required rate of return (WACC)
5.95 %
Cost of debt approximated with the 'net interest and non-operating' residual (EBT−EBIT) of the last financial year; it is not an isolated interest line (it also includes FX and equity-method results), so it is an estimate.
