Company Valuation: Alstom SA

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 7,942 9,542 5,430 9,406 11,209 7,344 - -
Change - 20.14% -43.09% 73.21% 19.17% -34.48% - -
Enterprise Value (EV) 1 10,027 11,677 8,424 9,928 12,467 8,547 8,389 8,008
Change - 16.45% -27.86% 17.85% 25.58% -31.44% -1.85% -4.55%
P/E -13.6x -71.7x -17.4x 65.7x 40.4x 13.6x 10.1x 8.46x
PBR 0.89x 1.05x 0.63x 0.9x - 0.64x 0.61x 0.58x
PEG - 0.9x -0x -0x 0.4x 0.1x 0.3x 0.4x
Capitalization / Revenue 0.51x 0.58x 0.31x 0.51x 0.58x 0.36x 0.34x 0.33x
EV / Revenue 0.65x 0.71x 0.48x 0.54x 0.65x 0.42x 0.39x 0.36x
EV / EBITDA 6.1x 6.72x 4.6x 4.84x 6.29x 4.89x 4.28x 3.71x
EV / EBIT 13.1x 13.7x 8.45x 8.43x 10.7x 6.39x 5.6x 4.93x
EV / FCF -10.1x 58.7x -14.9x 20.3x 38.5x 67.2x 34.7x 23x
FCF Yield -9.89% 1.7% -6.73% 4.94% 2.6% 1.49% 2.88% 4.34%
Dividend per Share 2 0.25 0.25 - - - 0.2257 0.3643 0.4945
Rate of return 1.18% 1% - - - 1.42% 2.29% 3.12%
EPS 2 -1.56 -0.35 -0.81 0.31 0.6 1.17 1.571 1.876
Distribution rate -16% -71.4% - - - 19.3% 23.2% 26.4%
Net sales 1 15,471 16,507 17,619 18,489 19,171 20,169 21,301 22,419
EBITDA 1 1,643 1,738 1,833 2,051 1,981 1,747 1,961 2,159
EBIT 1 767 852 997 1,177 1,168 1,339 1,497 1,626
Net income 1 -581 -132 -309 149 324 549.3 726.8 877.3
Net Debt 1 2,085 2,135 2,994 522 1,258 1,203 1,045 663.8
Reference price 2 21.27 25.08 14.13 20.38 24.26 15.88 15.88 15.88
Nbr of stocks (in thousands) 373,392 380,453 384,291 461,511 462,030 462,616 - -
Announcement Date 5/11/22 5/10/23 5/8/24 5/14/25 5/13/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.49x1.93x15.8x2.66% 64.52B
16.83x1.69x9.61x2.65% 42.77B
11.78x1.09x10.92x4.41% 38.68B
31.14x4.53x18.1x1.61% 30.29B
11.7x1.52x9.4x1.92% 20.44B
22.72x2.13x11.53x2.09% 19.01B
25.06x2.78x14.94x2.4% 17.06B
31.43x1.03x18.25x1.16% 16.71B
13.75x - - 0.71% 16.65B
Average 20.55x 2.09x 13.57x 2.18% 29.57B
Weighted average by Cap. 19.89x 2.05x 13.52x 2.46%

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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