Company Valuation: AB SA

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 904 612.7 989.1 1,599 1,531 2,415 - -
Change - -32.23% 61.44% 61.62% -4.2% 57.7% - -
Enterprise Value (EV) 1 1,119 937.9 989.1 1,696 1,608 2,475 2,328 2,272
Change - -16.15% 5.46% 71.43% -5.18% 53.96% -5.96% -2.38%
P/E 7.33x 4.07x 5.25x 9.16x 8.81x - - -
PBR - - - - - - - -
PEG - 0.2x 0.2x -1.37x -48.59x - - -
Capitalization / Revenue 0.07x 0.04x 0.05x 0.11x 0.1x 0.15x 0.15x 0.15x
EV / Revenue 0.09x 0.07x 0.05x 0.12x 0.11x 0.15x 0.15x 0.14x
EV / EBITDA 6.12x 4.05x - 5.49x 5.57x 6.72x 6.84x 6.78x
EV / EBIT 6.75x 4.41x - 5.93x 6.02x 7.01x 7.14x 7.07x
EV / FCF -5.02x -33.9x - 7.43x 15.4x 14.8x 7.73x 11.2x
FCF Yield -19.9% -2.95% - 13.5% 6.5% 6.74% 12.9% 8.89%
Dividend per Share 2 1 0.9972 - 2 - 6.45 7.49 7.05
Rate of return 1.79% 2.62% - 1.98% - 4.18% 4.86% 4.57%
EPS 2 7.64 9.34 11.82 11.03 11.01 - - -
Distribution rate 13.1% 10.7% - 18.1% - - - -
Net sales 1 13,074 14,031 19,226 14,658 14,931 16,281 15,766 16,318
EBITDA 1 182.8 231.4 - 308.6 288.9 368.2 340.1 334.9
EBIT 1 165.8 212.5 - 285.7 267 353.1 326.1 321.2
Net income 1 123.7 151.1 - 174.7 173.9 234.7 220.7 218.4
Net Debt 1 214.5 325.2 - 97.02 76.31 60.3 -87.3 -142.7
Reference price 2 56.00 38.00 62.00 101.00 97.00 154.20 154.20 154.20
Nbr of stocks (in thousands) 16,143 16,123 15,953 15,827 15,787 15,661 - -
Announcement Date 9/21/21 9/20/22 1/23/24 1/6/25 1/21/26 - - -
1PLN in Million2PLN
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
23.01x1.94x15.29x0.45% 358B
26.71x10.83x19.2x0.32% 208B
22.28x2.09x10.68x0.9% 83.55B
20.19x0.52x9.43x1.58% 58.76B
34.22x6.03x20.65x1.23% 43.91B
35.56x21.72x26.9x1.25% 37.04B
12.51x0.55x6.75x3.83% 28.23B
12.34x0.64x9.62x5.45% 22.27B
14.27x0.31x8.83x0.73% 20.79B
Average 22.34x 4.96x 14.15x 1.75% 95.66B
Weighted average by Cap. 23.92x 4.95x 15.58x 0.86%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield