Company Valuation: Bechtle AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,930 4,166 5,719 3,919 5,504 3,868 - -
Change - -47.47% 37.3% -31.48% 40.45% -29.72% - -
Enterprise Value (EV) 1 7,844 4,309 5,794 3,861 5,598 3,708 3,550 3,313
Change - -45.06% 34.45% -33.36% 44.98% -33.75% -4.26% -6.69%
P/E 34.2x 16.6x 21.5x 15.9x 24x 16.1x 14.8x 13.8x
PBR 5.86x 2.71x 3.28x 2.05x 2.68x 1.75x 1.62x 1.51x
PEG - 2.04x 3.57x -2.1x -3.6x 3.61x 1.64x 1.79x
Capitalization / Revenue 1.27x 0.69x 0.89x 0.62x 0.86x 0.58x 0.54x 0.51x
EV / Revenue 1.26x 0.71x 0.9x 0.61x 0.87x 0.55x 0.5x 0.44x
EV / EBITDA 18.3x 9.22x 11.4x 7.85x 11.3x 7.22x 6.45x 5.66x
EV / EBIT 24.1x 12.1x 15.2x 11x 16.7x 10.6x 9.34x 8.04x
EV / FCF 44.3x 69.1x 15.5x 8.22x 33.2x 16.4x 14.6x 12.2x
FCF Yield 2.26% 1.45% 6.47% 12.2% 3.01% 6.09% 6.85% 8.2%
Dividend per Share 2 0.55 0.65 0.7 0.7 0.7 0.7419 0.8003 0.8375
Rate of return 0.87% 1.97% 1.54% 2.25% 1.6% 2.42% 2.61% 2.73%
EPS 2 1.84 1.99 2.11 1.95 1.82 1.901 2.072 2.232
Distribution rate 29.9% 32.7% 33.2% 35.9% 38.5% 39% 38.6% 37.5%
Net sales 1 6,246 6,028 6,423 6,306 6,406 6,720 7,106 7,522
EBITDA 1 428.7 467.5 508.9 491.6 494.6 513.7 550.3 585.6
EBIT 1 325.7 355.4 382.3 351.3 335.3 348.8 380.1 411.8
Net income 1 231.4 251.1 265.5 245.5 229.2 238.4 259.5 276.7
Net Debt 1 -86.27 143.7 74.76 -57.66 93.86 -160 -317.8 -555.3
Reference price 2 62.94 33.06 45.39 31.10 43.68 30.70 30.70 30.70
Nbr of stocks (in thousands) 126,000 126,000 126,000 126,000 126,000 126,000 - -
Announcement Date 3/18/22 3/17/23 3/15/24 3/13/25 3/19/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.09x0.55x7.19x2.42% 4.41B
23.25x3.6x12.66x3.11% 204B
-96.65x15.29x88.53x-.--% 95.64B
14.27x2.6x9.81x5.76% 82.89B
10x1.1x5.75x4.82% 82.34B
19.21x5.05x12.47x2.96% 57.7B
14.2x2.07x8.69x5.49% 46.07B
20.6x1.53x9.68x0.96% 36.55B
19.3x1.56x9.78x1.54% 36.18B
15.89x2.03x9.46x5.44% 32.87B
Average 5.62x 3.54x 17.40x 3.25% 67.87B
Weighted average by Cap. 1.93x 4.52x 21.38x 3.26%

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 Bechtle AG