Company Valuation: AS MADARA Cosmetics

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 74.63 104.1 61.51 56.65 40.45 39.15
Change - 39.44% -40.89% -7.91% -28.59% -3.21%
Enterprise Value (EV) 1 69.07 97.49 55.56 51.16 31.85 33.49
Change - 41.15% -43.01% -7.92% -37.75% 5.16%
P/E 21.7x 28.4x 54.9x 35.5x 7.45x -101x
PBR 6x 7.13x 4.45x 4.02x 2.33x 2.9x
PEG - 4.4x -0.8x 0.8x 0x 1x
Capitalization / Revenue 4.64x 5.37x 3.29x 2.8x 1.88x 1.69x
EV / Revenue 4.3x 5.03x 2.97x 2.53x 1.48x 1.44x
EV / EBITDA 16x 21.4x 20.2x 17.1x 4.96x 20.8x
EV / EBIT 19.1x 25x 33.6x 24.9x 5.98x 77.7x
EV / FCF 36.4x 75.5x 55.3x 125x 4.8x 50.4x
FCF Yield 2.75% 1.32% 1.81% 0.8% 20.8% 1.98%
Dividend per Share 2 0.4 0.5 0.35 0.58 0.92 0.4
Rate of return 2.02% 1.81% 2.15% 3.87% 8.6% 3.86%
EPS 2 0.914 0.973 0.297 0.423 1.437 -0.1028
Distribution rate 43.8% 51.4% 118% 137% 64% -389%
Net sales 1 16.07 19.37 18.7 20.23 21.52 23.22
EBITDA 1 4.318 4.548 2.749 3 6.422 1.608
EBIT 1 3.619 3.904 1.655 2.059 5.33 0.4311
Net income 1 3.445 3.669 1.121 1.597 5.436 -0.3889
Net Debt 1 -5.559 -6.576 -5.951 -5.487 -8.601 -5.66
Reference price 2 19.80 27.60 16.30 15.00 10.70 10.35
Nbr of stocks (in thousands) 3,769 3,771 3,774 3,777 3,780 3,783
Announcement Date 5/26/21 6/21/22 5/26/23 5/29/24 5/30/25 5/29/26
1EUR in Million2EUR
Estimates

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 48.23M
28.19x4.37x17.97x2.1% 228B
55.54x7.92x30.43x0.23% 48.72B
25.29x4.62x18.02x1.32% 10.34B
33.07x1.59x12x1.73% 8.79B
22.78x1.63x10.46x1.18% 5.94B
50.7x3.08x15.03x-.--% 5.53B
22.84x2.31x12.4x2.86% 3.58B
14.2x1.54x8.7x3.11% 3.31B
18.69x2.42x11.66x4.17% 2.51B
Average 30.14x 3.28x 15.19x 1.86% 31.69B
Weighted average by Cap. 32.44x 4.70x 19.32x 1.76%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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