The Discounted Cash Flow (DCF) valuation of Flsmidth & Co A/S (FLS.CO) is 252.31 DKK. With the latest stock price at 393.40 DKK, the upside of Flsmidth & Co A/S based on DCF is -35.9%.

Is FLS.CO a buy or a sell?

Based on the latest price of 393.40 DKK and our DCF valuation, Flsmidth & Co A/S (FLS.CO) is a sell. Selling FLS.CO stocks now will result in a potential gain of 35.9%.

	Range	Selected
WACC / Discount Rate	6.9% - 9.1%	8.0%
Long-term Growth Rate	1.0% - 3.0%	2.0%
Fair Price	193.54 - 374.53	252.31
Upside	-50.8% - -4.8%	-35.9%

393.40 DKK

Stock Price

252.31 DKK

Fair Price

REVENUE & EXPENSES

CAPEX

D&A

WORKING CAPITAL

TERMINAL VALUE

FLS.CO DCF Valuation: Revenue & Expenses Forecast

(DKK in millions)		Projections

	12-2024	12-2025	12-2026	12-2027	12-2028	12-2029

Revenue	20,187	19,199	19,803	20,199	21,363	22,400
% Growth	16%	-5%	3%	2%	6%	5%

Cost of goods sold	(13,722)	(13,050)	(13,461)	(13,730)	(14,522)	(15,227)
% of Revenue	68%	68%	68%	68%	68%	68%

Selling, G&A expenses	(4,239)	(4,032)	(4,158)	(4,242)	(4,486)	(4,704)
% of Revenue	21%	21%	21%	21%	21%	21%

Research & Development	0	0	0	0	0	0
% of Revenue	0%	0%	0%	0%	0%	0%

Net interest & other expenses	(668)	(635)	(655)	(668)	(707)	(741)
% of Revenue	3%	3%	3%	3%	3%	3%

Tax expense	(528)	(538)	(555)	(566)	(598)	(627)
Tax rate	34%	36%	36%	36%	36%	36%

Net profit	1,030	944	974	993	1,051	1,102
% Margin	5%	5%	5%	5%	5%	5%