Vestas Wind Systems A/S
Financial ratios & Valuation

Forward Multiples (2025 – 2028)

2025202620272028
Price/Earnings ratio
2.902.292.201.77
Price/Sales ratio
N/AN/AN/AN/A
Earnings per Share (EPS)
$2.38$3.01$3.15$3.90

Historical Multiples (2014 – 2023)

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 TTM Median
Valuation Ratios
Price/Earnings ratio
5.056.404.404.566.338.3316.3168.67-5.73120.13-14.988.33
Price/Sales ratio
0.280.520.410.400.420.480.840.590.620.601.620.42
Price/Book Value ratio
0.831.511.331.311.401.782.681.932.963.057.731.40
Price/Cash Flow ratio
1.752.981.952.514.247.1316.799.23-46.269.00-120.777.13
Price/Free Cash Flow ratio
2.333.972.513.5910.46124.87226.8976.68-8.8968.52-23.22124.87
Price/Earnings Growth ratio
-0.000.080.09-1.00-0.331.881.65-0.820.00-1.140.01-0.33
Dividend Yield
N/A2.64%4.72%6.81%5.77%3.35%1.67%2.47%0.55%N/AN/A3.35%
Profitability Indicator Ratios
Gross Profit Margin
17.04%17.86%20.76%19.72%16.09%14.49%10.37%10.00%0.81%8.34%0.81%14.49%
Operating Profit Margin
8.78%10.75%13.88%12.35%9.08%8.26%6.98%2.06%-8.58%1.89%-11.01%8.26%
Pretax Profit Margin
7.56%10.98%12.57%11.97%8.97%7.48%6.30%1.64%-11.70%0.66%-11.70%7.48%
Net Profit Margin
5.67%8.13%9.42%8.98%6.74%5.79%5.16%0.85%-10.85%0.50%-10.85%5.79%
Effective Tax Rate
25.04%25.94%25.01%25%24.94%22.99%17.45%31.51%7.31%23.52%7.31%22.99%
Return on Assets
5.60%7.97%9.71%8.22%5.74%4.91%4.21%0.67%-7.82%0.34%-7.82%4.91%
Return On Equity
16.47%23.62%30.25%28.72%22.12%21.37%16.43%2.82%-51.64%2.54%-44.01%21.37%
Return on Capital Employed
22.99%23.95%33.01%28.35%20.49%20.14%14.93%4.59%-18.91%3.43%-24.26%20.14%
Liquidity Ratios
Current Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A1.00N/A
Quick Ratio
0.730.840.880.810.750.670.610.560.530.590.170.67
Cash ratio
0.410.530.570.480.380.300.270.180.170.230.170.30
Days of Sales Outstanding
37.0835.1037.6844.9646.7159.7356.9764.5867.5073.13N/A59.73
Days of Inventory outstanding
96.08100.1989.32123.15128.22144.01145.35147.61161.89169.05161.89128.22
Operating Cycle
133.17135.29127.01168.11174.93203.75202.32212.20229.39242.18161.89203.75
Days of Payables Outstanding
60.1792.8574.97121.51103.75109.6199.15111.52103.8796.77103.87103.75
Cash Conversion Cycle
72.9942.4352.0446.6071.1894.14103.16100.67125.52145.41-63.9594.14
Debt Ratios
Debt Ratio
0.080.050.040.040.040.040.050.040.090.120.840.04
Debt Equity Ratio
0.250.170.150.150.160.180.190.180.630.935.590.16
Long-term Debt to Capitalization
0.000.140.130.130.130.130.100.060.370.480.410.13
Total Debt to Capitalization
0.200.140.130.130.130.150.160.150.380.480.440.13
Interest Coverage Ratio
N/AN/AN/AN/AN/AN/AN/AN/AN/AN/A38N/A
Cash Flow to Debt Ratio
1.852.974.393.262.051.320.811.11-0.100.36-0.081.32
Company Equity Multiplier
2.942.963.113.493.844.353.904.156.597.436.593.84
Cash Flow Ratios
Operating Cash Flow / Sales Ratio
0.160.170.210.160.100.060.050.06-0.010.06-0.010.06
Free Cash Flow / Operating Cash Flow Ratio
0.750.750.770.690.400.050.070.125.20.135.20.40
Cash Flow Coverage Ratio
1.852.974.393.262.051.320.811.11-0.100.36-0.081.32
Short Term Coverage Ratio
1.86N/AN/AN/AN/A8.141.931.77-1.83114.11-0.788.14
Dividend Payout Ratio
N/A16.93%20.82%31.09%36.54%27.95%27.36%170.14%-3.17%N/AN/A27.95%