Volver a la clasificación

Dometic Group AB (publ) (DTCGF)

Infravalorada
Consumer CyclicalLeisureSweden

Fundamental

69

Precio

$20.64

Capitalización Bursátil

$6.60B

Parte 1 · Cuánto vale la empresa

Resumen

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.

Cómo genera ingresos

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.

Ventaja competitiva

Marca · Estrecha

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.

Qué impulsa la demanda

Cíclico

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.

Los argumentos a favor

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.

Los argumentos en contra

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 de agosto de 2026

Direct competitors

Who this company fights with for the same customers

Compare

Generated on 18 de septiembre de 2026 with claude-haiku-4-5 — shared with all users

P/E: 18.1Score: 75Market cap: $3.06B

In the outdoor segment Dometic builds around Igloo, and YETI names Igloo among its direct rivals: both fight for the same buyer of portable coolers, ice boxes and drinkware in North American retail.

Thetford CorporationNot tracked

Thetford sells the same RV and marine categories as Dometic — sanitation systems, absorption refrigerators and cooking appliances — to the same vehicle manufacturers and the same aftermarket dealers in Europe and North America.

Truma Gerätetechnik GmbH & Co. KGNot tracked

Truma, family-owned in Germany, competes head-on with Dometic on climate and comfort for caravans and motorhomes: heaters, roof air conditioners, water heaters and gas systems fitted by European RV manufacturers.

Airxcel, Inc.Not tracked

Airxcel is the main alternative to Dometic for North American RV air conditioning, heating and appliances, bidding for the same OEM fitments on towables and motorhomes.

LCI Industries (Lippert)LCII

Lippert supplies RV and boat builders with awnings, air conditioners, water heaters and electronics — the same shelf of components Dometic sells to the same customers, plus the same aftermarket channel.

Webasto SENot tracked

Webasto sells parking heaters and roof air conditioning for camper vans, trucks and specialty vehicles, the same cab- and cabin-climate business Dometic serves outside pure leisure RVs.

Balance y Liquidez

Ingresos

$20.15B

Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción

Beneficio Neto

$310M

Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción

Flujo de Caja Libre

$1.66B

Patrimonio Neto Total

$22.96B

Pasivo Total

$14.62B

Ratio de Liquidez

1.65

Cobertura de Intereses

-

Deuda/EBITDA

5.91

Beneficio Por Acción

Ingresos y Beneficio Neto

Flujo de Caja Libre

Desglose de Ingresos

Estado histórico

Márgenes en el tiempo

La deuda en el tiempo

Cuánto pesa la deuda

Cuadro de crecimiento

Crecimiento — Ingresos

Estimación de Valor Justo

Caso generalInfravalorado

Valor Justo

$31.63

Precio Actual

$20.64

Margen de Seguridad

+34.7%

Rango de Valor Justo

$20.56 - $42.70

Dispersión entre los métodos de valoración utilizados, no un intervalo de confianza calibrado estadísticamente.

Métodos de Estimación

Precio objetivo de los analistas:$40.00
Flujo de caja descontado (DCF):$54.91
Múltiplo sobre beneficios (P/E):$5.97
Fórmula de crecimiento de Graham:$7.18
Valor de la capacidad de generar beneficios (EPV):$29.73
P/B justificado:$7.52
Descuento de dividendos (Gordon):$10.91
P/FFO, fondos de operaciones:Datos insuficientes para calcularlo
Beneficios de mitad de ciclo:Datos insuficientes para calcularlo
Múltiplo sobre ingresos:$108.33
Consenso de Analistas:Compra Fuerte (9B / 2H / 0S)
Última Sorpresa de Resultados:-4.01%

Métricas de Valoración

Ratio P/E

21.09

ROE

1.4%

Ratio P/B

0.28

P/FCF

3.97

Margen Bruto

29.5%

ROIC

4.3%

Radar de Rentabilidad

Creación de Valor (Ventaja Competitiva)

ROIC

4.3%

WACC

3.8%

ROIC − WACC

+0.5 pp

El ROIC está en línea con el coste del capital: la empresa apenas cubre su coste de capital.

Criterios de Análisis Fundamental

Superado (13)

  • P/FCF 3.97
  • P/B Ratio 0.28
  • 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%

Fallido (7)

  • Price CAGR -10.98%
  • ROIC 4.3%
  • Gross Margin 29.5%
  • CapEx intensity
  • ROE 1.4%
  • Earnings Surprise avg -64.2%
  • Piotroski F-Score 2/9

No disponible (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)

Piotroski F-Score

2/9

Preocupaciones financieras graves

score
criteria

Calidad de los Beneficios

5.59

Alta calidad: beneficios respaldados por efectivo

Dilución de Acciones

-

Recomprando acciones. Favorable para el accionista

Participaciones institucionales

No hay declaraciones institucionales para esta empresa.

Gobernanza

Equipo Directivo

NombreCargoEdad
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
Mr. Goran PopovskiPresident of Segment Land Vehicles51

Riesgo de Auditoría

8

Riesgo del Consejo

5

Riesgo de Compensación

9

Riesgo de Derechos del Accionista

1

Parte 2 · El precio y el momento de entrar

Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.

Latest News

Recent headlines for DTCGF, sourced from Markets Gazette.

No recent news for DTCGF.