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 23,418 - -
Change - -18.58% 31.93% 3.11% -8.09% -14.25% - -
Enterprise Value (EV) 1 29,874 21,842 31,087 31,988 29,550 25,624 25,074 24,213
Change - -26.89% 42.33% 2.9% -7.62% -13.29% -2.15% -3.44%
P/E -186x 33.5x 28.3x 24.4x 20.9x 17.2x 15.3x 13.8x
PBR 7.17x - 6.38x 5.88x 5.58x 4.7x 4.08x 3.53x
PEG - -0x 0.5x 1.1x 2.79x 2.3x 1.2x 1.3x
Capitalization / Revenue 10x 4.87x 5.3x 4.84x 4.19x 3.43x 3.14x 2.92x
EV / Revenue 11.2x 4.87x 5.71x 5.21x 4.53x 3.75x 3.37x 3.02x
EV / EBITDA 47.6x 13.3x 14.8x 13.7x 11.8x 9.71x 8.62x 7.69x
EV / EBIT -360x 22.7x 22x 19.7x 16.8x 13.2x 11.5x 10.2x
EV / FCF 170x - 26x 24x 22.7x 18.4x 16.2x 14.7x
FCF Yield 0.59% - 3.84% 4.17% 4.41% 5.44% 6.17% 6.82%
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% 2.91% 3.28% 3.68%
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 55.76 55.76 55.76
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.($)
23.32x3.79x13.25x2.85% 224B
14.09x1.55x8.16x3.41% 116B
-129.79x18.1x100.35x-.--% 117B
14.17x2.58x9.74x5.8% 82.55B
19.85x5.25x12.89x2.86% 59.74B
13.9x2.01x8.53x5.61% 44.75B
22.11x1.81x11.28x1.37% 44B
21.19x1.61x10.23x0.89% 41.4B
17.27x2.18x10.33x5.06% 35.34B
Average 1.79x 4.32x 20.53x 3.09% 84.92B
Weighted average by Cap. -3.73x 5.21x 24.68x 2.89%

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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