ISS A/S
ISS A/S operates as workplace experience and facility management company in the United Kingdom, Ireland, the United States, Canada, Switzerland, Germany, Australia, New Zealand, Türkiye, Spain, Denmark, and internationally. The company offers space office, space plus, and space production; transpor…
ISS A/S operates as workplace experience and facility management company in the United Kingdom, Ireland, the United States, Canada, Switzerland, Germany, Australia, New Zealand, Türkiye, Spain, Denmark, and internationally. The company offers space office, space plus, and space production; transportation and infrastructure cleaning, food hygiene, and hospitality and cleaning services; and catering, fine dining and event catering; and micro-kitchens and vending services, as well as operates restaurants and pop-ups. It also provides security services comprising front of house, concierge and manned guarding, video surveillance, and technical services. In addition, the company offers support services, which include front desk and reception, meeting and conference management, switchboards and service desk, concierge, mail and courier, document, executive and administrative support, and experience curation and management services. Further, the company provides energy management, asset management, critical environments, and waste management services. Additionally, it designs and delivers workplace strategies and solutions, such as portfolio strategy, curated experience and workplace strategy, workplace and service design, relocation strategy, capital projects, and mental rebuild services. It serves financial and professional services, life science, and technology industries. ISS A/S was founded in 1901 and is headquartered in Søborg, Denmark.Priced within the modelled range
5-year outlook: Not shown because confidence is low: Earnings-based DCF is somewhat apart.
Other models: DKK 245.06–348.48 (median 295.12). The recommended value is in line with them.
Why: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Details and the full model are below.
Market price within modeled range
Free-cash-flow DCF using TTM through 30 Jun 2026 reported free cash flow, with cash, debt, and shares from the latest report. Base assumptions are 5.89% growth, 2.7% terminal growth, and 10% discount. Low/high cases vary growth by 2 and terminal growth/discount by 1 percentage point; this illustrative range is not a statistical confidence interval or investment advice.
Assumptions: growth 5.89%, discount rate 10%, terminal growth 2.70% (sector defaults). See a worked example.
Blended growth assumption: 5.9% (sector default 6.2%, own revenue history 4.7%, analyst revenue consensus 6.3%).
Analyst consensus expects revenue growth of 6.4% a year; the growth assumption used is 5.9%.
Adjust assumptions
Why this model: Free cash flow is positive and in line with earnings, and the dividend is small, so a cash-flow DCF fits best.
Compare models- Recommended: Free-cash-flow DCF — DKK 351.92 (+17.9%)
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EPS-based Gordon proxy
— DKK 245.06 (-17.9%)
Not used: Treats all earnings as if paid out and ignores the cash kept for reinvestment, so it overstates value for companies that retain most profit.
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DCF (trailing free cash flow)
— DKK 351.92 (+17.9%)
Not used: Not chosen: Free-cash-flow DCF ranks ahead of it for this company.
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FCFF (steady state)
— DKK 295.12 (-1.1%)
Not used: Assumes only the long-run terminal growth rate from today, so it ignores the near-term growth expected.
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EV/EBITDA (12x)
— DKK 348.48 (+16.8%)
Not used: Used only when free cash flow is far below earnings even after averaging three years; a fixed 12x multiple also ignores sector differences.
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Fade DCF (10-year growth fade)
— DKK 349.85 (+17.2%)
Not used: An alternative growth path (fading over 10 years) shown for comparison; the automatic choice does not use it.
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EV/Sales (Rule of 40)
— DKK 1293.01 (+333.3%)
Not used: Used only for technology and communication companies whose cash-flow value is far below the price.
| Bear DKK 236.38 | -26.2% |
| Base DKK 351.92 | 15.2% |
| Bull DKK 557.62 | 46.5% |
Margin = (value − price) / value, so it is measured against the value and reads lower than the upside to value, which is measured against the price. Positive means the price is below that case.
At DKK 298.40 the market implies about this annual free-cash-flow growth for 5 years (terminal 2.7%, discount 10.0%).
Compare: the market implies 2.9% a year, this model assumes 5.9%. The model is more optimistic than the price, which is why it reads as undervalued.
How the Free-cash-flow DCF value changes with growth (rows) and discount rate (columns). Green cells are above the current price.
| Growth \ Discount | 8.0% | 9.0% | 10.0% | 11.0% | 12.0% |
|---|---|---|---|---|---|
| 1.9% | 424.72 | 341.87 | 281.71 | 236.04 | 200.19 |
| 3.9% | 472.98 | 381.77 | 315.56 | 265.31 | 225.88 |
| 5.9% | 524.91 | 424.67 | 351.92 | 296.74 | 253.45 |
| 7.9% | 580.72 | 470.74 | 390.96 | 330.45 | 283.01 |
| 9.9% | 640.62 | 520.16 | 432.80 | 366.57 | 314.65 |
Track record: see the methodology page for how this model has performed historically, including its limits. Treat it as a screen, not a forecast.
Price history and fair value
No chartable saved daily price history is available for this range. The chart uses stored EODHD prices only and will appear after history is saved.
More detail: quality, peers, price history, dividends and financials
Quality score: 62 / 100
Five equal checks on reported history: profitability, cash generation, revenue growth, balance sheet and margins. It describes business quality, not whether the price is attractive.
| Profitability | 5 of 5 years profitable | 20 / 20 |
| Cash generation | free cash flow positive in 5 of 5 years | 20 / 20 |
| Growth | revenue +4.4% a year | 12 / 20 |
| Balance sheet | net debt 2.7x EBITDA | 10 / 20 |
| Margins | EBITDA margin 7% | 0 / 20 |
Peers in Industrials
Same-sector companies with a valuation, most undervalued first. Compare the margin of safety, yield and quality score side by side.
| Company | Price | Margin of safety | P/E | P/B | Yield | Quality |
|---|---|---|---|---|---|---|
| ISS.CO (this company) | DKK 298.40 | 15.2% | 17.1 | 5.3 | 1.0% | 62 |
| EZJ.L easyJet plc | GBP 6.88 | 74.3% | 10.6 | 1.5 | 1.7% | 78 |
| WAWI.OL Wallenius Wilhelmsen ASA | NOK 160.80 | 64.7% | 7.1 | 2.2 | 0.3% | 100 |
| IAG.L International Consolidated Airlines Group S.A. | GBP 4.37 | 58.9% | 8.0 | 3.5 | 1.8% | 92 |
| TPK.L Travis Perkins plc | GBP 6.54 | 54.7% | – | 0.8 | 2.1% | 46 |
| SRP.L Serco Group plc | GBP 2.77 | 46.2% | 19.7 | 3.3 | 1.5% | 82 |
| DFDS.CO DFDS A/S | DKK 157.30 | 45.9% | – | 0.6 | – | 64 |
| DG.PA VINCI SA | EUR 111.75 | 42.2% | 12.9 | 2.1 | 4.2% | 90 |
| HAFNI.OL Hafnia Limited | NOK 89.00 | 40.8% | 7.2 | 1.8 | 1.2% | 100 |
| Peer median | 9.3 | 1.9 | ||||
Dividends
Paid in the last 12 months: DKK 3.20 per share · yield 1.07% at the current price.
| Year | Dividends per share |
|---|---|
| 2026 (so far) | 3.200 |
| 2025 | 3.100 |
| 2024 | 2.300 |
| 2023 | 2.100 |
Trailing 12-month financials
TTM through 30 Jun 2026 · quarterly EODHD data · data downloaded 06 Nov 2026 14:04
| Revenue | DKK 87,773,000,000 |
|---|---|
| EBITDA | DKK 5,966,000,000 |
| EBIT | DKK 4,278,000,000 |
| Net income | DKK 2,787,000,000 |
| Free cash flow | DKK 4,482,000,000 |
| Capital expenditures | DKK 673,000,000 |
| Debt | DKK 18,632,000,000 |
| Cash | DKK 2,797,000,000 |
| Working capital | DKK -3,263,000,000 |
| Shares outstanding | 160,000,000 |