Company Valuation: Amadeus IT Group, S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 26,825 21,842 28,816 29,712 27,309 23,091 - -
Change - -18.58% 31.93% 3.11% -8.09% -15.45% - -
Enterprise Value (EV) 1 29,874 21,842 31,087 31,988 29,550 25,297 24,747 23,885
Change - -26.89% 42.33% 2.9% -7.62% -14.39% -2.17% -3.48%
P/E -186x 33.5x 28.3x 24.4x 20.9x 17x 15.1x 13.6x
PBR 7.17x - 6.38x 5.88x 5.58x 4.63x 4.02x 3.48x
PEG - -0x 0.5x 1.1x 2.79x 2.27x 1.2x 1.3x
Capitalization / Revenue 10x 4.87x 5.3x 4.84x 4.19x 3.38x 3.1x 2.88x
EV / Revenue 11.2x 4.87x 5.71x 5.21x 4.53x 3.71x 3.32x 2.98x
EV / EBITDA 47.6x 13.3x 14.8x 13.7x 11.8x 9.58x 8.51x 7.58x
EV / EBIT -360x 22.7x 22x 19.7x 16.8x 13.1x 11.4x 10x
EV / FCF 170x - 26x 24x 22.7x 18.2x 16x 14.5x
FCF Yield 0.59% - 3.84% 4.17% 4.41% 5.51% 6.25% 6.91%
Dividend per Share 2 - - 1.24 1.39 1.54 1.622 1.828 2.052
Rate of return - - 1.91% 2.04% 2.45% 2.95% 3.32% 3.73%
EPS 2 -0.32 1.45 2.29 2.8 3.01 3.235 3.647 4.043
Distribution rate - - 54.1% 49.6% 51.2% 50.1% 50.1% 50.8%
Net sales 1 2,670 4,486 5,441 6,142 6,517 6,826 7,449 8,029
EBITDA 1 627.6 1,640 2,094 2,328 2,507 2,640 2,909 3,149
EBIT 1 -83 962.7 1,414 1,628 1,754 1,936 2,173 2,381
Net income 1 -142.4 664.3 1,118 1,253 1,336 1,396 1,573 1,728
Net Debt 1 3,049 - 2,270 2,277 2,242 2,206 1,656 794.4
Reference price 2 59.64 48.55 64.88 68.20 62.84 54.98 54.98 54.98
Nbr of stocks (in thousands) 449,787 449,884 444,145 435,658 434,575 419,987 - -
Announcement Date 2/25/22 2/24/23 2/28/24 2/28/25 2/26/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.54x3.69x12.88x2.95% 216B
-130.35x18.18x100.79x-.--% 117B
13.46x1.48x7.8x3.56% 111B
13.63x2.48x9.35x6.03% 79.37B
19.51x5.17x12.71x2.91% 58.38B
13.79x1.99x8.45x5.65% 44.37B
22.36x1.83x11.42x1.31% 43.97B
21.06x1.6x10.17x0.89% 40.66B
17.22x2.17x10.3x5.08% 35.23B
Average 1.47x 4.29x 20.43x 3.15% 82.93B
Weighted average by Cap. -4.86x 5.23x 24.92x 2.95%

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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