Company Valuation: APG|SGA SA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 595.4 480.7 548.1 597.5 629.4 596.6 - -
Change - -19.26% 14.01% 9.02% 5.33% -5.22% - -
Enterprise Value (EV) 1 523 427.4 496.5 597.5 576.4 549.4 553.1 556.6
Change - -18.28% 16.16% 20.36% -3.54% -4.68% 0.67% 0.64%
P/E - - - - - 17.6x 17.8x 17.2x
PBR 5.86x 5.27x 6.54x - 8.64x 8.88x 9.26x 9.69x
PEG - - - - - - -22.33x 5.67x
Capitalization / Revenue 2.24x 1.55x 1.68x - 1.92x 1.7x 1.69x 1.68x
EV / Revenue 1.97x 1.38x 1.52x - 1.76x 1.57x 1.57x 1.57x
EV / EBITDA 20.3x 10.6x 11.8x 12.9x 13.4x 11.3x 11x 10.8x
EV / EBIT 34.1x 14.6x 15.6x 16.4x 17.3x 13.8x 13.6x 13.3x
EV / FCF 95.4x 30.6x 16.6x - - 17.8x 17.2x 16.9x
FCF Yield 1.05% 3.27% 6.04% - - 5.62% 5.8% 5.91%
Dividend per Share 2 11 11 11 12 12 12.02 12.27 12.02
Rate of return 5.53% 6.85% 6.01% 6.02% 5.71% 6.04% 6.17% 6.04%
EPS 2 - - - - - 11.29 11.2 11.54
Distribution rate - - - - - 106% 110% 104%
Net sales 1 266.1 310.6 325.6 - 327 350.8 352.1 354.7
EBITDA 1 25.83 40.21 41.98 46.18 43.14 48.75 50.33 51.4
EBIT 1 15.34 29.37 31.79 36.53 33.23 39.68 40.77 41.75
Net income 1 - - - - - 33.8 33.6 34.6
Net Debt 1 -72.36 -53.31 -51.6 - -53.02 -47.15 -43.47 -39.93
Reference price 2 199.00 160.50 183.00 199.50 210.00 199.00 199.00 199.00
Nbr of stocks (in thousands) 2,992 2,995 2,995 2,995 2,997 2,998 - -
Announcement Date 3/16/22 3/15/23 2/27/24 3/13/25 3/12/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.19x1.65x5.57x5.43% 2.31B
-37.16x4.07x12.65x-.--% 1.21B
22.37x3.16x6.55x3.61% 844M
-13.94x3.3x6.98x-.--% 788M
50.77x1.15x-137.76x1.01% 628M
30x - - - 551M
Average 10.87x 2.67x -21.20x 2.01% 1.06B
Weighted average by Cap. 6.59x 2.55x -8.19x 2.81%

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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