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Dometic Group AB (publ) (DTCGF)

NEUTRAL
Consumer CyclicalLeisureSweden

Fondamental

64

Prix

$22.80

Capitalisation boursière

$7.39B

Partie 1 · Ce que vaut l'entreprise

Vue d'ensemble

Dometic makes the equipment that lets people cook, cool, power and stay comfortable away from a fixed home: refrigerators, air conditioners, awnings and power systems for recreational vehicles, plus similar climate and power equipment for boats under its Marine brands. It sells both to vehicle and boat manufacturers who fit the equipment during production, and through dealers to owners upgrading or replacing gear after purchase.

Comment l'entreprise gagne de l'argent

Revenue comes from selling hardware either to original equipment manufacturers, who install it before a vehicle or boat is sold, or through the aftermarket, where dealers and owners buy replacement or upgrade parts. Demand for both channels tracks how many new RVs, caravans and boats are being built and how much people are spending on outdoor recreation, which makes the business sensitive to consumer discretionary spending and to interest rates that affect big-ticket purchases.

Avantage concurrentiel

Marque · Étroit

Dometic's names are well established with RV and marine manufacturers who specify its equipment as original fittings, which gives it a durable relationship advantage in a niche market. The advantage is narrow because the underlying products — refrigerators, air conditioners, awnings — are not difficult for competitors to replicate, and OEM customers can and do switch suppliers when price or quality shifts.

Ce qui stimule la demande

Cyclique

RVs, caravans and boats are large discretionary purchases that buyers postpone when consumer confidence weakens or credit gets more expensive, which flows directly through to Dometic's OEM orders. The company itself described 2025 as a year of tough market conditions and declining demand in the outdoor recreation industry, with only tentative signs of stabilisation by year-end.

Les arguments en faveur

Buyers argue that the 2025 sales decline eased through the year, order intake improved and channel inventories began normalising, suggesting the worst of the outdoor-recreation downturn is behind the company as tariff-related cost headwinds also fade.

Les arguments contre

Sellers fear that a business this tied to discretionary RV and marine purchases remains exposed to consumer confidence and to whatever tariff or trade policy comes next, and that a genuine recovery in OEM demand may take longer than early signs of stabilisation suggest.

Written by the editors, published on 18 août 2026

Direct competitors

Who this company fights with for the same customers

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Bilan & Liquidités

Chiffre d'affaires

$20.15B

12 derniers mois jusqu'au dernier trimestre publié — estimation à partir de ratios par action

Résultat net

$310M

12 derniers mois jusqu'au dernier trimestre publié — estimation à partir de ratios par action

Flux de trésorerie libre

$1.66B

Capitaux propres totaux

$22.96B

Passif total

$14.62B

Ratio de liquidité général

1.65

Couverture des intérêts

-

Dette/EBITDA

5.91

Bénéfice par action

Chiffre d'affaires & Résultat net

Flux de trésorerie libre

Décomposition du résultat

État historique

Marges dans le temps

La dette dans le temps

Le poids de la dette

Grille de la croissance

Croissance — Chiffre d'affaires

Estimation de la juste valeur

Justement valorisé

Juste valeur

$30.25

Prix actuel

$22.80

Marge de sécurité

+24.6%

Fourchette de juste valeur

$19.67 - $40.84

Méthodes d'estimation

Analyst Target:$40.00
DCF:$50.16
PE-based:$5.91
Graham Growth:$7.18
EPV:$27.65
Consensus des analystes:Achat fort (9B / 2H / 0S)
Dernière surprise sur les résultats:-4.01%

Indicateurs de valorisation

Ratio P/E

23.60

ROE

1.4%

Ratio P/B

0.32

P/FCF

4.45

Marge brute

29.5%

ROIC

4.3%

Radar de rentabilité

Value Creation (Economic Moat)

ROIC

4.3%

WACC

4.4%

ROIC − WACC

-0.1 pp

ROIC is roughly in line with the cost of capital — the company is barely covering its capital cost.

Critères d'analyse fondamentale

Réussi (13)

  • P/FCF 4.45
  • P/B Ratio 0.32
  • Debt/Equity ratio
  • Operating Margin 7.1%
  • Positive Free Cash Flow
  • Current Ratio
  • Debt/EBITDA
  • Price below Graham Number
  • DCF valuation (Undervalued)
  • Revenue Growth 5Y 5.4%
  • Analyst Consensus 82% Buy
  • Earnings Quality (OCF/NI) 5.59
  • Net Margin Trend 2.0% vs -9.4%

Échoué (7)

  • Price CAGR -10.05%
  • ROIC 4.3%
  • Gross Margin 29.5%
  • CapEx intensity
  • ROE 1.4%
  • Earnings Surprise avg -64.2%
  • Piotroski F-Score 2/9

Indisponible (7)

  • EPS data insufficient
  • Dividend Payout NaN%
  • Interest Coverage
  • Return on Tangible Assets
  • Low reliance on intangibles
  • PEG Ratio (need PE > 0 and growth > 0)
  • Share Dilution (missing shares data)

Score F de Piotroski

2/9

Préoccupations financières sérieuses

score
criteria

Qualité des bénéfices

5.59

Qualité élevée : bénéfices soutenus par la trésorerie

Dilution du capital

-

Rachat d'actions. Favorable aux actionnaires

Gouvernance

Équipe dirigeante

NomTitreÂge
Mr. Juan VarguesPresident & CEO66
Mr. Per CarlssonActing Chief Financial Officer61
Mr. Anton LundqvistChief Technology Officer55
Mr. Tobias NorrbyHead of Investor Relations-
Ms. Anna Smieszek Ph.D.Executive VP & Group General Counsel61
Mr. Peter JanneroChief Marketing Officer56
Ms. Jenny EveliusExecutive VP & Head of Group HR56
Ms. Chialing HsuehPresident of Global Ventures62
Mr. Eric B. FetchkoPresident of Segment Marine63

Risque d'audit

8

Risque du conseil

5

Risque de rémunération

9

Risque droits des actionnaires

1

Partie 2 · Le prix et le moment d'entrer

Cette partie ne dit pas si l'entreprise vaut la peine : elle aide à choisir quand l'acheter, une fois que les fondamentaux vous ont convaincu. À l'intérieur : analyse technique, potentiel, baisses historiques, exposition gamma.

Latest News

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