dormakaba Holding AG (DOKA) AI Stock Analysis

• Market Cap: CHF3.11B
• Dividend Yield: 1.08%
• Average Volume (3M): 4.01K
• Price to Earnings (P/E): 45.9
• Beta (1Y): 0.58
• Revenue Growth: 2.72%
• EPS Growth: 156.72%
• Country: CH
• Employees: 15,427
• Sector: Industrials
• Sector Strength: 78
• Industry: Security & Protection Services
• EPS (TTM): 12.00
• Shares Outstanding: 4,200,026
• 10 Day Avg. Volume: 3,952
• 30 Day Avg. Volume: 4,014
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: CHF801.67
• Price Target Upside: 8.04% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 59 Neutral
• Price Target: CHF763.00 ▲(2.83% Upside)

The stock score is primarily influenced by stable operating margins and strong cash flow metrics. Positive technical indicators suggest potential upward momentum, but a high P/E ratio indicates overvaluation concerns. The absence of guidance or significant corporate events limits further assessment.

Positive Factors

Financial Performance

Dormakaba delivered a healthy set of H1-24/24 results with sales, organic growth, EBITDA, and margins all beating or being in line with expectations, showing an improvement on the previous financial year.

Guidance and Targets

Guidance was raised for the full year, and the group confirmed its organic growth target for 2024/25 while raising its margin target in line with consensus.

Negative Factors

Free Cash Flow

FCF generation was down by -8.6% to CHF50.5m, implying a margin of 3.6%, which could be a point of concern despite other positive indicators.

dormakaba Holding AG Business Overview & Revenue Model

Company Description

dormakaba Holding AG provides access and security solutions worldwide. The company operates through Access Solutions AMER, Access Solutions APAC, Access Solutions DACH, Access Solutions EMEA, and Key?&?Wall Solutions segments. It offers door hardware products, such as door closer systems, door locks, and escape route systems; and entrance systems, including sliding, revolving, swing doors, as well as sensor barriers and personal interlocks. The company also provides electronic access and data that include access readers, terminals, electronic fittings, and locking cylinders; mechanical cylinder lock and master key systems; lodging systems comprising electronic door locks, and perimeter and facility readers, as well as mobile access solutions; safe locks; interior glass systems; movable walls; and key blanks and key cutting machines under the Silca, Ilco, and Advanced Diagnostics brand names. In addition, it offers contactless identification systems and trusted services based on the Legic SmartCard and Connect technologies. The company offers its products to hotels, shops, sporting venues, airports, hospitals, homes, and offices. dormakaba Holding AG was founded in 1862 and is headquartered in Rumlang, Switzerland.

How the Company Makes Money

Dormakaba Holding AG generates its revenue through the sale of its diverse range of security and access products and services. The company's key revenue streams include sales from electronic access and data solutions, which offer comprehensive electronic access control and workforce management systems; mechanical key systems, catering to traditional security needs; and entrance systems, which include automated doors and secure entry solutions. Additionally, Dormakaba provides installation, maintenance, and consulting services that complement its product offerings. The company's revenue is further bolstered by strategic partnerships and alliances that enhance its market reach and technological capabilities, as well as its presence in multiple sectors that demand high-security solutions such as hospitality, healthcare, and government.

dormakaba Holding AG Financial Statement Overview

Summary

dormakaba Holding AG exhibits stable EBITDA and EBIT margins, but faces challenges in revenue growth and net profitability. High leverage and moderate equity capitalization pose potential financial risks. Cash flow metrics indicate strong operating cash flow, although free cash flow growth has been negative.

Income Statement

The company experienced a slight revenue decline from the previous year. Gross profit margin stands at 40.24%, and net profit margin is 1.49%, indicating challenges in cost management and profitability. EBIT and EBITDA margins are healthy at 5.81% and 10.56%, respectively, but the net income has decreased over the years.

Balance Sheet

The debt-to-equity ratio is high at 2.37, reflecting significant leverage. However, the company maintains a positive equity ratio of 13.01%. Return on equity is relatively low at 16.50%, indicating moderate efficiency in utilizing equity capital.

Cash Flow

The company shows a strong operating cash flow to net income ratio of 6.78, indicating robust cash generation relative to its earnings. Free cash flow growth is negative, but the free cash flow to net income ratio is 4.45, suggesting decent cash conversion.

Breakdown	TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement
Total Revenue	2.88B	2.84B	2.85B	2.76B	2.50B	2.54B
Gross Profit	1.17B	1.14B	1.08B	929.20M	1.04B	1.03B
EBITDA	341.10M	299.50M	323.00M	337.10M	351.60M	323.60M
Net Income	67.70M	42.20M	45.70M	19.30M	100.80M	84.60M
Balance Sheet
Total Assets	1.92B	1.97B	1.95B	2.07B	1.87B	1.81B
Cash, Cash Equivalents and Short-Term Investments	135.90M	150.40M	122.10M	104.50M	169.10M	156.80M
Total Debt	602.30M	605.10M	719.00M	807.90M	677.90M	824.40M
Total Liabilities	1.55B	1.62B	1.61B	1.71B	1.60B	1.67B
Stockholders Equity	271.20M	255.70M	250.70M	260.30M	207.50M	138.10M
Cash Flow
Free Cash Flow	190.00M	187.60M	189.90M	48.80M	237.40M	233.20M
Operating Cash Flow	276.70M	286.20M	288.40M	127.30M	313.50M	328.10M
Investing Cash Flow	-85.70M	-81.60M	-111.80M	-158.90M	-95.50M	-232.40M
Financing Cash Flow	-167.00M	-177.90M	-177.80M	-400.00K	-231.90M	-65.80M

dormakaba Holding AG Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 742.00
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CH:DOKA, the sentiment is Negative. The current price of 742 is below the 20-day moving average (MA) of 771.60, below the 50-day MA of 750.12, and above the 200-day MA of 694.20, indicating a neutral trend. The MACD of -1.45 indicates Positive momentum. The RSI at 41.02 is Neutral, neither overbought nor oversold. The STOCH value of 21.17 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CH:DOKA.

dormakaba Holding AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
KARN	70 Outperform	CHF2.52B	33.81		1.83%	11.43%	6.46%
INRN	68 Neutral	CHF1.88B	31.60		1.41%	-3.67%	-12.95%
Sector *	64 Neutral	$10.95B	16.37	8.81%	1.96%	2.68%	-15.33%
DOKA	59 Neutral	CHF3.11B	45.88		1.08%	2.72%	156.72%
0QS5	―	CHF1.31B	19.10	18.65%	2.54%	―	―
FBOHF	―	$1.41B	17.16	12.91%	2.80%	―	―
SULZF	―	$6.42B	20.61	23.37%	2.69%	―	―