Data as of Sep 5, 2026
EPV per share
82.19 EUR
Current price
63.80 EUR
Margin of safety
+22.4 %
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 % |
|---|---|---|---|---|---|
| 9.28 % | 97.87 | 78.03 | 63.86 | 53.24 | 44.97 |
| 10.28 % | 110.70 | 88.72 | 73.03 | 61.25 | 52.10 |
| 11.28 % | 123.53 | 99.41 | 82.19 | 69.27 | 59.22 |
| 12.28 % | 136.35 | 110.10 | 91.35 | 77.29 | 66.35 |
| 13.28 % | 149.18 | 120.79 | 100.51 | 85.30 | 73.47 |
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 (6.4 %) 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)
6.37 %
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.
