Company Valuation: Aperam S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,711 2,232 2,376 1,823 2,549 3,371 - -
Change - -39.86% 6.44% -23.26% 39.82% 32.25% - -
Enterprise Value (EV) 1 4,177 2,700 2,867 2,367 3,527 4,318 4,169 3,947
Change - -35.36% 6.17% -17.42% 49% 22.42% -3.45% -5.32%
P/E 3.92x 3.56x 11.8x 7.96x 271x 18.1x 10.5x 8.51x
PBR 1.29x 0.66x 0.7x 0.54x 0.8x 1.04x 0.98x 0.91x
PEG - -0.1x -0.2x 0.6x -2.8x 0x 0.1x 0.4x
Capitalization / Revenue 0.73x 0.27x 0.36x 0.29x 0.42x 0.51x 0.46x 0.44x
EV / Revenue 0.82x 0.33x 0.43x 0.38x 0.58x 0.65x 0.57x 0.51x
EV / EBITDA 3.94x 2.39x 9.43x 6.65x 10.4x 8.65x 5.82x 4.94x
EV / EBIT 4.56x 2.86x 28.7x 18.6x 44.1x 15.6x 8.68x 7.01x
EV / FCF 10.5x 7.8x 17.1x 18.9x 12.4x 23.5x 16.2x 11.8x
FCF Yield 9.53% 12.8% 5.86% 5.28% 8.08% 4.26% 6.16% 8.45%
Dividend per Share 2 2 2 2 2 2 2 2.14 2.255
Rate of return 4.2% 6.78% 6.08% 7.93% 5.68% 4.3% 4.6% 4.85%
EPS 2 12.16 8.29 2.79 3.17 0.13 2.576 4.426 5.465
Distribution rate 16.4% 24.1% 71.7% 63.1% 1,538% 77.6% 48.4% 41.3%
Net sales 1 5,102 8,156 6,592 6,255 6,080 6,609 7,351 7,732
EBITDA 1 1,060 1,129 304 356 339 499.4 715.8 799.6
EBIT 1 916 943 100 127 80 276.6 480.5 563.3
Net income 1 968 625 203 231 9 178.2 319.4 390.5
Net Debt 1 466 468 491 544 978 946.8 798 576.2
Reference price 2 47.64 29.49 32.88 25.22 35.24 46.52 46.52 46.52
Nbr of stocks (in thousands) 77,900 75,684 72,249 72,288 72,333 72,464 - -
Announcement Date 2/11/22 2/10/23 2/9/24 2/7/25 2/6/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
18.68x0.67x8.88x4.16% 4.05B
21.29x1.86x10.27x0.54% 33.65B
12.29x0.46x4.6x4.61% 18.63B
20.35x1.96x10.18x0.22% 12.38B
9.26x0.67x4.37x4.45% 11.39B
12.27x0.88x6.27x3.99% 10.29B
9.95x - - - 10.1B
56.17x4.94x27.98x0.48% 9.86B
87.36x1.54x16.53x0.64% 9.18B
Average 27.51x 1.62x 11.14x 2.39% 13.28B
Weighted average by Cap. 24.77x 1.62x 10.37x 2.07%

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

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  4. Valuation Aperam S.A.
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