Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
TCM Group A/S is a Denmark-based manufacturer specializing in kitchen, bathroom, and storage solutions. As Scandinavia's third-largest kitchen producer, it operates primarily in the Nordic region, with a strong presence in Denmark and Norway as its key export market. The company employs a multi-brand strategy featuring Svane Køkkenet as the flagship brand, alongside Tvis Køkken, Nettoline, AUBO, and private label options, spanning the full price spectrum from budget to premium. Products are distributed through approximately 220 points of sale, including franchise stores, independent kitchen retailers, and e-commerce platforms like Kitchn.dk, Billigskabe.dk, Celebert, and Just Wood, supported by exhibition showrooms for design services. Manufacturing occurs in-house at four facilities in Tvis and Aulum, Denmark, emphasizing vertical integration across design, production, and distribution. Additionally, TCM Group A/S supplies goods to its fully owned Celebert business, which focuses on online sales and customer order processing. Headquartered in Tvis, Denmark, the company serves both B2C consumers and B2B clients in the home improvement and furnishings market.
DKK 69.40
DKK 1.20 (-1.70%)
Price from 14 days ago
Operating margin is thin at 7.34%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 6.3%, steady but not accelerating. Free cash flow declined 32% despite revenue growth, conversion is weakening.
Free cash flow declined 32% versus the prior year, cash generation momentum has weakened. Net debt of DKK 377M represents 10.3x FCF, leverage limits flexibility.
9.0x earnings, 6.1x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
DKK 1.33B
▲ +6.3% YoY
Net Income (TTM)
DKK 81M
▲ +34.8% YoY
Op. Margin
7.48%
▲ +0.6pp YoY
ROIC
8.04%
▲ +0.4pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
DKK 118M
▼ -32.5% YoY
Op. Cash Flow (TTM)
DKK 165M
▼ -17.1% YoY
Net Debt
DKK 377M
Cash & Equiv.
DKK 31M
3Y CAGR: +3.7%
3Y CAGR: -2.5%
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At a P/E of 9.0 and a price-to-free-cash-flow of 6.1, TCM Group A/S (TCM.XCSE) trades below a two-stage DCF intrinsic value of about DKK 536.62 per share, so at DKK 69.40 the stock looks undervalued (673.2% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, TCM Group A/S scores 55/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 4.3%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about DKK 536.62 per share for TCM.XCSE, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around DKK 402.46. At today's DKK 69.40, that puts the stock about 673.2% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
TCM Group A/S scores 55 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 7.5% operating margin and a 8.0% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, TCM Group A/S pays a regular dividend of about DKK 2.97 per share per year (typically in quarterly installments), a yield of roughly 4.3% at the current price. That is a payout ratio of about 38.3% of earnings, so the dividend is amply covered by earnings. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For TCM.XCSE's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. TCM.XCSE currently trades below its estimated intrinsic value and scores 55/100 on quality (mixed). It also yields about 4.3%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.