Steinhoff International Holdings N.V. (SNH.DE)

Steinhoff International Holdings N.V. (SNH.DE) — VMCI valuation read

Steinhoff International Holdings N.V. sits at VMCI 46/100, with the Consumer Cyclical sector median at 50. That 4-point spread is the first thing to note on SNH.DE: it tells the reader the composite is unfavorable before any single ratio is examined, and the mid-cap tier sets the comparison set.

Form 4 disclosures on SNH.DE are blank for the trailing 30 days. With the insider channel offline, the EV/EBITDA delta, free-cash-flow trajectory, and the next earnings print do the talking.

**Investor frame.** The Value read on SNH.DE: SNH.DE trades at 22.0x earnings, 22% above the Consumer Cyclical median of 18.0x, with EV/EBITDA at 13.0x against 12.0x. The Quality read: ROIC of 16.0% sits 6.0pp above the Consumer Cyclical median (10.0%). The Risk read: net debt to EBITDA of 0.1x leaves covenant headroom, anchoring the bear scenario on a measurable balance-sheet metric.

SNH.DE rose 2.4% over the trailing 7 days, with a +2.1% read on a 30-day basis.