dormakaba Holding AG (DOKA) AI Stock Analysis

• Market Cap: CHF3.06B
• Dividend Yield: 1.09%
• Average Volume (3M): 4.50K
• Price to Earnings (P/E): 45.3
• Beta (1Y): 0.48
• Revenue Growth: 2.72%
• EPS Growth: 156.72%
• Country: CH
• Employees: 15,427
• Sector: Industrials
• Sector Strength: 88
• Industry: Security & Protection Services
• EPS (TTM): 12.00
• Shares Outstanding: 4,200,026
• 10 Day Avg. Volume: 3,754
• 30 Day Avg. Volume: 4,496
• PEG Ratio: 0.27
• Price to Book (P/B): 6.71
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 8.86
• 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: CHF675.00
• Price Target Upside: -8.29% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 59 Neutral
• Price Target: CHF763.00 ▲(3.67%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 is a global leader in the security and access solutions industry. The company operates in various sectors, including commercial buildings, residential properties, and institutional facilities, offering a comprehensive range of products and services such as door hardware, electronic access and data, entrance systems, lodging systems, and safe locks. Dormakaba is committed to providing efficient and secure access solutions, focusing on innovation, sustainability, and enhancing customer value.

How the Company Makes Money

Dormakaba Holding AG generates revenue through the sale of its diverse range of security and access solutions. Key revenue streams include the manufacture and sale of door hardware, entrance systems, access control products, and related software solutions. The company also earns income from service contracts, maintenance agreements, and consulting services that support its product offerings. Additionally, Dormakaba benefits from strategic partnerships and collaborations with architects, builders, and technology firms to expand its market reach and enhance its product portfolio. The company emphasizes innovation and sustainability, which not only helps in meeting regulatory requirements but also attracts a broader customer base seeking modern security solutions.

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
	EBIT
26.50M	165.00M	180.80M	94.90M	257.30M	241.90M
	EBITDA
341.10M	299.50M	323.00M	337.10M	351.60M	323.60M
	Net Income Common Stockholders
67.70M	42.20M	45.70M	19.30M	100.80M	84.60M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
135.90M	150.40M	122.10M	104.50M	169.10M	156.80M
	Total Assets
1.92B	1.97B	1.95B	2.07B	1.87B	1.81B
	Total Debt
602.30M	605.10M	719.00M	807.90M	677.90M	824.40M
	Net Debt
466.40M	454.70M	596.90M	703.40M	508.80M	667.60M
	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: Positive
• Last Price: 736.00
• 50DMA: Positive
• 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 Positive. The current price of 736 is above the 20-day moving average (MA) of 732.90, above the 50-day MA of 690.80, and above the 200-day MA of 657.88, indicating a bullish trend. The MACD of 10.22 indicates Positive momentum. The RSI at 58.31 is Neutral, neither overbought nor oversold. The STOCH value of 67.54 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CH:DOKA.

dormakaba Holding AG Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
OERL	73 Outperform	CHF1.25B	18.98		5.19%	-11.92%	100.79%
SCHP	72 Outperform	$31.37B	33.66	19.73%	1.87%	-2.24%	9.68%
DKSH	70 Outperform	CHF4.26B	19.84		3.58%	0.25%	18.00%
Sector *	66 Neutral	$4.51B	12.29	5.40%	3.67%	4.15%	-12.21%
GEBN	65 Neutral	CHF20.73B	35.42		2.00%	0.05%	-1.75%
DAE	60 Neutral	CHF2.04B	65.70	8.24%	2.66%	-3.80%	-53.44%
DOKA	59 Neutral	CHF3.06B	45.33		1.09%	2.72%	156.72%