Valuation Overview

Growth Story

Over the next few years, revenue is expected to grow by 37.40%, higher than industry average of 6.78%.

Growth Trajectory

Profitability

In the growth phase company makes 43.71% profit on every dollar of sales, higher than industry average of 4.81%.

Profitability Trajectory

Risk Profile

Investors expect at least 6.34% return to justify the risk of holding stock.

Risk vs Return

Required Return (Cost of Capital) (%)
Return on Invested Capital (%)

Financial Health Overview

Enterprise Value
20.42B EUR
Equity Value
19.26B EUR
FCF Yield
688.21%
Average ROIC
28.55%
Cost of Capital
6.45%
P/E Ratio
6.82x
Financial MetricMost Recent 12 months (EUR)Previous Year (EUR)
Revenues465.06M EUR248.74M EUR
Operating Income or EBIT239.47M EUR70.27M EUR
Interest Expense2.14M EUR2.80M EUR
Book Value Of Equity1.37B EUR1.23B EUR
Book Value Of Debt1.21B EUR581.99M EUR
Cash and Marketable Securities53.03M EUR58.46M EUR
Number of Shares Outstanding350.87M--
Minority interests0 EUR0 EUR
Current Stock Price4.47 EUR--
Effective Tax Rate4.00%--
Marginal Tax Rate22.00%--

Performance vs Industry

Revenue Growth
+80.19%
86.96%Company
vs
6.77%Industry
Above Industry
Operating Margin
+46.68%
51.49%Company
vs
4.81%Industry
Above Industry
Cadeler A/S demonstrates superior performance in both growth and profitability compared to industry peers, indicating strong competitive advantages and operational excellence.

Terminal Value Analysis

Growth Rate
2.43%
Cost of Capital
6.66%
Return on Capital
6.66%
Reinvestment Rate
36.48%
Terminal value represents 69% of total enterprise value, based on 2.43% perpetual growth and 6.66% discount rate.

Equity Value Breakdown

ComponentValueType
Present Value (Terminal Value) 14.08B EUR Add
Present Value (Cash Flow Over Next 10 Years) 6.33B EUR Add
Value of Operating Assets 20.42B EUR Sub-total
Debt 1.21B EUR Subtract
Minority Interests — Subtract
Cash 53.03M EUR Add
Value of Equity 19.26B EUR Sub-total
Number of Shares 350.87M shares Divisor
Estimated Value per Share (Fair Value) 54.91 EUR Total
Current Market Price 4.47 EUR Reference

Financial Projections

Total FCF Present Value
6.33B EUR
Avg Revenue Growth
24.79%
Avg Operating Margin
41.97%
Avg ROIC
28.55%
Year 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Terminal Year
REVENUE
Revenue760.36M EUR1.04B EUR1.43B EUR1.97B EUR2.70B EUR3.53B EUR4.36B EUR5.07B EUR5.55B EUR5.68B EUR5.82B EUR
Growth Rate 63.50% 37.39% 37.39% 37.39% 37.39% 30.40% 23.40% 16.41% 9.42% 2.42% 2.43%
PROFITABILITY
Operating Income391.54M EUR483.74M EUR627.40M EUR810.85M EUR1.04B EUR1.36B EUR1.67B EUR1.95B EUR2.13B EUR2.19B EUR2.24B EUR
Operating Margin 51.49% 46.30% 43.70% 41.11% 38.52% 38.52% 38.52% 38.52% 38.52% 38.52% 38.52%
EBIT (1-tax)375.87M EUR464.39M EUR602.30M EUR778.41M EUR1.00B EUR1.25B EUR1.49B EUR1.66B EUR1.74B EUR1.70B EUR1.75B EUR
CASH FLOW
Reinvestment83.76M EUR115.08M EUR158.12M EUR217.25M EUR242.67M EUR214.12M EUR185.31M EUR123.83M EUR34.94M EUR35.79M EUR638.91M EUR
Free Cash Flow292.11M EUR349.31M EUR444.18M EUR561.16M EUR759.34M EUR1.04B EUR1.30B EUR1.54B EUR1.71B EUR1.67B EUR1.11B EUR
Terminal Value--------------------26.29B EUR
Present Value274.69M EUR308.89M EUR369.36M EUR438.81M EUR558.37M EUR721.15M EUR847.88M EUR939.65M EUR978.01M EUR896.94M EUR—
EFFICIENCY
ROIC 14.86% 17.78% 22.08% 26.98% 32.29% 37.59% 41.90% 44.49% 45.13% 43.79% 6.66%
Cost of Capital 6.34% 6.34% 6.34% 6.34% 6.34% 6.40% 6.46% 6.53% 6.59% 6.66% 6.66%
Sales/Capital 3.39x 3.39x 3.39x 3.39x 3.39x 3.86x 3.86x 3.86x 3.86x 3.86x —

Profitability & Efficiency

Operating Margin (%)
ROIC (%)

Value Creation Analysis

ROIC (%)
Cost of Capital (%)

Operational Cash Flow Analysis

Free Cash Flow (€B)
Reinvestment (€B)