Company Valuation: Altarea

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,385 2,555 1,652 2,110 2,554 1,795 - -
Change - -24.52% -35.37% 27.76% 21.03% -29.69% - -
Enterprise Value (EV) 1 5,507 4,456 3,685 3,792 4,456 3,642 3,568 3,576
Change - -19.07% -17.31% 2.89% 17.52% -18.26% -2.03% 0.21%
P/E 14.6x 7.97x -3.54x 344x 296x 9.61x 7.62x 7.71x
PBR 1.51x - - - 1.52x 0.79x 0.79x 0.77x
PEG - 0.2x 0x -3x 9.2x 0x 0.3x -6.77x
Capitalization / Revenue 1.12x 0.85x 0.61x 0.86x 1.23x 0.79x 0.77x 0.74x
EV / Revenue 1.82x 1.48x 1.36x 1.54x 2.15x 1.6x 1.54x 1.47x
EV / EBITDA 12.5x 10.3x -10x 15.6x 23.7x 10.6x 8.17x 7.27x
EV / EBIT 15.9x 10.9x -7.74x 18.1x 29.4x 10.1x 7.59x 8.39x
EV / FCF 15.9x 13.6x 9.72x 10.5x -119x 14.2x 15.9x 16x
FCF Yield 6.27% 7.33% 10.3% 9.57% -0.84% 7.06% 6.31% 6.24%
Dividend per Share 2 9.75 10 8 8 8 8.5 9 10.36
Rate of return 5.82% 7.92% 10% 8.3% 7.3% 11.1% 11.7% 13.5%
EPS 2 11.49 15.83 -22.57 0.28 0.37 8.004 10.09 9.976
Distribution rate 84.9% 63.2% -35.4% 2,857% 2,162% 106% 89.2% 104%
Net sales 1 3,030 3,013 2,712 2,466 2,076 2,272 2,322 2,427
EBITDA 1 439.2 430.7 -366.7 243.8 188.2 344 437 492
EBIT 1 345.8 410.1 -476 209.4 151.7 361 470 426
Net income 1 211.6 326.8 -472.9 6.1 8.4 188 274 212
Net Debt 1 2,121 1,901 2,034 1,682 1,902 1,847 1,773 1,780
Reference price 2 167.60 126.20 80.00 96.40 109.60 76.90 76.90 76.90
Nbr of stocks (in thousands) 20,198 20,248 20,645 21,888 23,301 23,348 - -
Announcement Date 2/22/22 2/28/23 2/27/24 2/25/25 2/24/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
9.61x1.6x10.59x11.05% 2.02B
38.18x18.21x23.12x3.34% 122B
30.34x13.86x17.61x4.48% 64.97B
35.4x14.1x14.85x6.1% 50.49B
18.22x15.39x17.53x1.13% 37.64B
16.03x24.96x27.33x3.58% 16.32B
26.08x10.47x14.45x4.83% 14.9B
7.95x11.69x14.33x6.28% 14.29B
18.03x16.09x23.38x5.35% 13.97B
28.92x11.07x16.18x4.23% 13.12B
Average 22.88x 13.74x 17.94x 5.04% 34.95B
Weighted average by Cap. 30.07x 15.77x 19.44x 4.07%

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