Company Valuation: Audax Renovables, S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 554.8 330 571.3 698.5 621 508.2 - -
Change - -40.52% 73.13% 22.25% -11.1% -18.17% - -
Enterprise Value (EV) 1 963.3 649.3 805.8 970.9 932.1 815.7 805.7 796.6
Change - -32.6% 24.12% 20.48% -4% -12.49% -1.22% -1.14%
P/E 210x 75x 19.7x 11.6x 31.3x 10.5x 9.33x 8.46x
PBR 4.06x - 3.54x 3.34x 2.97x 2.11x 1.79x 1.52x
PEG - 1.1x 0x 0x -0.5x 0x 0.7x 0.8x
Capitalization / Revenue 0.33x 0.13x 0.25x 0.35x 0.33x 0.27x 0.26x 0.25x
EV / Revenue 0.57x 0.25x 0.35x 0.49x 0.49x 0.43x 0.4x 0.39x
EV / EBITDA 18.1x 12.6x 8.11x 8.41x 8.06x 6.98x 6.24x 5.73x
EV / EBIT 31.1x 20.1x 10.7x 10.4x 9.67x 8.63x 7.7x 7.09x
EV / FCF -8.51x 6.21x 7.37x 54.9x -77x -60.4x 35x 38.7x
FCF Yield -11.8% 16.1% 13.6% 1.82% -1.3% -1.66% 2.85% 2.59%
Dividend per Share 2 - - - 0.0333 0.0333 0.0311 0.0311 0.0311
Rate of return - - - 2.15% 2.42% 2.73% 2.73% 2.73%
EPS 2 0.006 0.01 0.066 0.134 0.044 0.1087 0.1222 0.1348
Distribution rate - - - 24.8% 75.7% 28.6% 25.4% 23.1%
Net sales 1 1,685 2,626 2,293 1,988 1,884 1,910 1,991 2,058
EBITDA 1 53.09 51.66 99.31 115.4 115.6 116.9 129.2 139.1
EBIT 1 30.97 32.29 75.13 93.58 96.36 94.53 104.6 112.3
Net income 1 2.838 3.539 29.03 60.56 19.59 49.51 55.7 60.91
Net Debt 1 408.5 319.3 234.5 272.4 311.1 307.5 297.6 288.4
Reference price 2 1.260 0.750 1.300 1.550 1.378 1.140 1.140 1.140
Nbr of stocks (in thousands) 440,291 440,291 439,491 450,631 450,631 445,761 - -
Announcement Date 2/25/22 2/27/23 1/15/24 2/25/25 2/25/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.58x0.43x7.01x2.7% 588M
12.86x5.56x11.9x4.33% 76.4B
12.79x1.44x7.53x5.86% 67.02B
16.15x6.28x14.02x3.24% 53.17B
15.84x1.11x9.28x3.4% 52.08B
20.08x2.72x9.39x2.17% 49.25B
16.56x4.95x9.58x4.55% 37.03B
60.1x19.28x34.34x0.25% 35.7B
16.57x4.71x12.34x3.82% 34.77B
18.94x5.52x12.53x2.94% 28.3B
Average 20.05x 5.20x 12.79x 3.33% 43.43B
Weighted average by Cap. 19.32x 5.16x 12.60x 3.63%

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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-40%: Exceptional extension
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