Company Valuation: Aubay

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 827.2 646.3 552 583.5 732.6 660.9 - -
Change - -21.87% -14.58% 5.7% 25.56% -9.79% - -
Enterprise Value (EV) 1 766.9 562.9 459.1 471.5 708.1 597.5 567 534.4
Change - -26.6% -18.45% 2.72% 50.16% -15.62% -5.09% -5.76%
P/E 24.2x 18.3x 16.4x 15.4x 19.4x 13.9x 12.7x 11.7x
PBR 3.62x 2.59x 2.09x 2.13x 2.5x 2.05x 1.86x 1.68x
PEG - 5.92x -3.37x 1x 28.42x 0.5x 1.3x 1.41x
Capitalization / Revenue 1.76x 1.26x 1.03x 1.08x 1.22x 0.94x 0.9x 0.85x
EV / Revenue 1.63x 1.1x 0.86x 0.87x 1.18x 0.85x 0.77x 0.69x
EV / EBITDA 13.3x 9.23x 8.28x 8.22x 11.3x 7.87x 7.04x 6.2x
EV / EBIT 15.4x 10.6x 9.69x 9.51x 12.9x 8.87x 7.94x 7.01x
EV / FCF 17.1x 17.9x 11.5x 8.88x 16.6x 13.5x 10.8x 9.59x
FCF Yield 5.84% 5.6% 8.69% 11.3% 6.02% 7.41% 9.28% 10.4%
Dividend per Share 2 1.1 1.2 1.2 1.3 1.4 1.5 1.6 1.7
Rate of return 1.76% 2.46% 2.88% 2.89% 2.45% 2.89% 3.08% 3.28%
EPS 2 2.59 2.67 2.54 2.93 2.95 3.73 4.095 4.435
Distribution rate 42.5% 44.9% 47.2% 44.4% 47.5% 40.2% 39.1% 38.3%
Net sales 1 470.6 513.5 534.1 540.3 601.6 703.2 737.1 773.1
EBITDA 1 57.48 61.01 55.42 57.38 62.43 75.95 80.5 86.15
EBIT 1 49.93 53.17 47.38 49.59 54.97 67.37 71.4 76.23
Net income 1 34.41 35.63 33.41 37.64 38.14 46.77 50.77 54.83
Net Debt 1 -60.27 -83.41 -92.99 -112 -24.54 -63.43 -93.87 -126.5
Reference price 2 62.60 48.75 41.65 45.00 57.10 51.90 51.90 51.90
Nbr of stocks (in thousands) 13,214 13,258 13,254 12,966 12,830 12,734 - -
Announcement Date 3/23/22 3/22/23 3/20/24 3/19/25 3/18/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
13.91x0.85x7.87x2.89% 756M
22.72x3.71x12.97x2.92% 218B
-131.98x18.41x102.07x-.--% 119B
13.62x1.5x7.9x3.51% 112B
13.63x2.48x9.35x6.03% 79.67B
19.12x5.07x12.46x2.97% 56.86B
13.5x1.95x8.26x5.77% 43.61B
22.36x1.83x11.42x1.31% 43.86B
21.06x1.6x10.17x0.89% 40.55B
17.31x2.21x10.58x4.98% 35.96B
Average 2.53x 3.96x 19.30x 3.13% 75.03B
Weighted average by Cap. -5.26x 5.28x 25.24x 2.94%

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

-40%: Exceptional extension
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