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 2,324 - -
Change - -32.23% 61.44% 61.62% -4.2% 51.77% - -
Enterprise Value (EV) 1 1,119 937.9 989.1 1,696 1,608 2,384 2,237 2,181
Change - -16.15% 5.46% 71.43% -5.18% 48.31% -6.19% -2.48%
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 0.14x 0.15x 0.14x
EV / Revenue 0.09x 0.07x 0.05x 0.12x 0.11x 0.15x 0.14x 0.13x
EV / EBITDA 6.12x 4.05x - 5.49x 5.57x 6.48x 6.58x 6.51x
EV / EBIT 6.75x 4.41x - 5.93x 6.02x 6.75x 6.86x 6.79x
EV / FCF -5.02x -33.9x - 7.43x 15.4x 14.3x 7.42x 10.8x
FCF Yield -19.9% -2.95% - 13.5% 6.5% 7% 13.5% 9.26%
Dividend per Share 2 1 0.9972 - 2 - 6.45 7.49 7.05
Rate of return 1.79% 2.62% - 1.98% - 4.35% 5.05% 4.75%
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 97.00 148.40 148.40 148.40
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- 0.15x6.48x4.35% 624M
23.19x1.95x15.4x0.45% 361B
24.18x9.78x17.34x0.36% 189B
21.98x2.07x10.56x0.91% 82.42B
17.01x0.44x7.86x1.88% 49.51B
32.72x5.74x19.54x1.27% 41.83B
34.78x21.23x26.29x1.28% 36.4B
14.18x0.62x7.52x3.38% 32B
11.96x0.62x9.3x5.62% 21.7B
25.63x2.63x16.91x2.87% 19.87B
Average 22.85x 4.52x 13.72x 2.24% 83.38B
Weighted average by Cap. 23.33x 4.61x 15.17x 0.94%

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

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