(ROCK-B) ROCKWOOL International - CO
Sector: Industrials | Industry: Building Products & Equipment | Exchange: CO (Denmark) | Market Cap: 44.489m DKK | Total Return: -20.3% in 12m
Avg Turnover: 99.1M
EPS Trend: 55.9%
Qual. Beats: 0
Rev. Trend: 79.1%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Confidence
ROCKWOOL International A/S is a Denmark-based manufacturer specializing in stone wool insulation and related building systems. The company operates through two primary segments: Insulation and Systems. Its product portfolio spans residential, commercial, and industrial applications, including HVAC, marine, offshore, and horticultural substrates. Major brands include ROCKWOOL, Rockfon, Rockpanel, Grodan, and Lapinus.
The business model relies on the conversion of volcanic rock into stone wool, a material valued for its inherent fire resistance and thermal efficiency. Unlike petroleum-based foam insulation, stone wool is non-combustible and maintains its insulating properties even when wet, positioning it as a key component in passive fire protection and sustainable building envelopes.
ROCKWOOL maintains a global manufacturing footprint to mitigate high logistics costs, as insulation products are bulky and expensive to transport over long distances. The company serves diverse end-markets across Europe, North America, and Asia, benefiting from increasingly stringent regional building codes focused on energy efficiency and carbon reduction.
- EU energy efficiency regulations drive stone wool insulation demand
- Natural gas price volatility impacts manufacturing margins and profitability
- Residential construction slowdown in Western Europe weighs on revenue
- North American capacity expansion scales Systems segment market share
| Net Income: -172.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -3.99 > 1.0 |
| NWC/Revenue: 6.88% < 20% (prev 19.76%; Δ -12.89% < -1%) |
| CFO/TA 0.15 > 3% & CFO 598.8m > Net Income -172.7m |
| Net Debt (199.7m) to EBITDA (443.2m): 0.45 < 3 |
| Current Ratio: 1.27 > 1.5 & < 3 |
| Outstanding Shares: last quarter (206.7m) vs 12m ago -5.03% < -2% |
| Gross Margin: 57.69% > 18% (prev 67.12%; Δ -9.43% > 0.5%) |
| Asset Turnover: 93.11% > 50% (prev 93.27%; Δ -0.17% > 0%) |
| Interest Coverage Ratio: 9.66 > 6 (EBIT TTM 173.6m / Interest Expense TTM 18.0m) |
| A: 0.07 (Total Current Assets 1.22b - Total Current Liabilities 961.0m) / Total Assets 4.04b |
| B: 0.70 (Retained Earnings 2.82b / Total Assets 4.04b) |
| C: 0.04 (EBIT TTM 173.6m / Avg Total Assets 4.11b) |
| D: 2.34 (Book Value of Equity 2.83b / Total Liabilities 1.21b) |
| Altman-Z'' = 5.45 = AAA |
| DSRI: 1.03 (Receivables 630.0m/625.0m, Revenue 3.82b/3.90b) |
| GMI: 1.16 (GM 67.12% / 57.69%) |
| AQI: 0.96 (AQ_t 0.07 / AQ_t-1 0.07) |
| SGI: 0.98 (Revenue 3.82b / 3.90b) |
| TATA: -0.19 (NI -172.7m - CFO 598.8m) / TA 4.04b) |
| Beneish M = -2.91 (Cap -4..+1) = A |
As of June 20, 2026, the stock is trading at DKK 219.80 with a total of 592,331 shares traded.
Over the past week, the price has changed by +8.91%,
over one month by +16.28%,
over three months by +22.77% and
over the past year by -20.30%.
ROCKWOOL International has no consensus analysts rating.
Market Cap EUR = 5.95b (44.5b DKK * 0.1338 DKK.EUR)
P/E Forward = 14.556
P/S = 11.4751
P/B = 2.1027
P/EG = 1.5679
Revenue TTM = 3.82b EUR
EBIT TTM = 173.6m EUR
EBITDA TTM = 443.2m EUR
Long Term Debt = 29.0m EUR (from longTermDebt, last fiscal year)
Short Term Debt = 197.8m EUR (from shortTermDebt, last fiscal year)
Debt = 406.7m EUR (from shortLongTermDebtTotal, last fiscal year) + Leases 82.0m
Net Debt = 199.7m EUR (calculated: Debt 406.7m - CCE 207.0m)
Enterprise Value = 6.15b EUR (5.95b + Debt 406.7m - CCE 207.0m)
Interest Coverage Ratio = 9.66 (Ebit TTM 173.6m / Interest Expense TTM 18.0m)
EV/FCF = 48.83x (Enterprise Value 6.15b / FCF TTM 126.0m)
FCF Yield = 2.05% (FCF TTM 126.0m / Enterprise Value 6.15b)
FCF Margin = 3.30% (FCF TTM 126.0m / Revenue TTM 3.82b)
Net Margin = -4.52% (Net Income TTM -172.7m / Revenue TTM 3.82b)
Gross Margin = 57.69% ((Revenue TTM 3.82b - Cost of Revenue TTM 1.62b) / Revenue TTM)
Gross Margin QoQ = 26.60% (prev 66.70%)
Tobins Q-Ratio = 1.52 (Enterprise Value 6.15b / Total Assets 4.04b)
Interest Expense / Debt = 4.42% (Interest Expense 18.0m / Debt 406.7m)
Taxrate = 25.44% (29.0m / 114.0m)
NOPAT = 129.5m (EBIT 173.6m * (1 - 25.44%))
Current Ratio = 1.27 (Total Current Assets 1.22b / Total Current Liabilities 961.0m)
Debt / Equity = 0.14 (Debt 406.7m / totalStockholderEquity, last quarter 2.83b)
Debt / EBITDA = 0.45 (Net Debt 199.7m / EBITDA 443.2m)
Debt / FCF = 1.59 (Net Debt 199.7m / FCF TTM 126.0m)
Total Stockholder Equity = 2.92b (last 4 quarters mean from totalStockholderEquity)
RoA = -4.20% (Net Income -172.7m / Total Assets 4.04b)
RoE = -5.92% (Net Income TTM -172.7m / Total Stockholder Equity 2.92b)
RoCE = 5.89% (EBIT 173.6m / Capital Employed (Equity 2.92b + L.T.Debt 29.0m))
RoIC = 4.20% (NOPAT 129.5m / Invested Capital 3.08b)
WACC = 7.66% (E(5.95b)/V(6.36b) * Re(7.96%) + D(406.7m)/V(6.36b) * Rd(4.42%) * (1-Tc(0.25)))
Discount Rate = 7.96% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -53.94 | Cagr: -2.17%
[DCF] Terminal Value 73.10% ; FCFF base≈194.4m ; Y1≈170.5m ; Y5≈137.7m
[DCF] Fair Price = 18.44 (EV 2.21b - Net Debt 199.7m = Equity 2.01b / Shares 109.1m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 55.87 | EPS CAGR: 48.10% | SUE: 0.06 | # QB: 0
Revenue Correlation: 79.10 | Revenue CAGR: 2.34% | SUE: 0.00 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.48 | Chg30d=+36.86% | Revisions=+20% | Analysts=3
EPS next Quarter (2026-09-30): EPS=0.52 | Chg30d=+49.48% | Revisions=+20% | Analysts=3
EPS current Year (2026-12-31): EPS=1.82 | Chg30d=+0.06% | Revisions=+7% | GrowthEPS=-11.0% | GrowthRev=-2.3%
EPS next Year (2027-12-31): EPS=1.99 | Chg30d=+1.30% | Revisions=+33% | GrowthEPS=+9.6% | GrowthRev=+5.4%
[Analyst] Revisions Ratio: +33%