Company Valuation: Berliner Effektengesellschaft AG

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 722 1,175 1,055 931.2 833.7 919.1
Change - 62.8% -10.29% -11.7% -10.47% 10.25%
Enterprise Value (EV) 1 722.3 1,162 1,046 916.6 807.4 898.4
Change - 60.9% -10% -12.37% -11.92% 11.27%
P/E 9.02x 15.3x 40.1x 70.8x 54.5x 33.5x
PBR 6.75x 7.87x 7.23x 7.04x 6.36x 6.16x
PEG - -4.53x -0.6x -1.4x 2.9x 0.4x
Capitalization / Revenue 2.7x 4.65x 7.26x 8.63x 5.91x 4.69x
EV / Revenue 2.7x 4.59x 7.2x 8.5x 5.72x 4.59x
EV / EBITDA - - - - - -
EV / EBIT - - - - - -
EV / FCF - - - - - -
FCF Yield - - - - - -
Dividend per Share 2 1 1 1 0.5 0.5 0.6
Rate of return 1.87% 1.14% 1.27% 0.71% 0.78% 0.85%
EPS 2 5.928 5.728 1.96 0.9885 1.174 2.105
Distribution rate 16.9% 17.5% 51% 50.6% 42.6% 28.5%
Net sales 1 267.8 253 145.3 107.9 141 195.9
EBITDA - - - - - -
EBIT - - - - - -
Net income 1 58.33 57.52 17.97 9.677 15.3 27.34
Net Debt 1 0.2964 -13.3 -8.549 -14.56 -26.29 -20.68
Reference price 2 53.50 87.40 78.60 70.00 64.00 70.50
Nbr of stocks (in thousands) 13,495 13,449 13,416 13,302 13,026 13,036
Announcement Date 4/29/21 4/20/22 4/25/23 4/25/24 4/30/25 5/18/26
1EUR in Million2EUR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 1.09B
18.93x3.53x9.67x3.03% 63.35B
11.63x3.7x27.62x3.21% 41.93B
7.09x - - 2.57% 12.34B
4.41x1.22x - 4.04% 10.95B
10.39x0.73x - 2.16% 8.11B
7.97x - - 6.67% 6.86B
16.51x - - - 4.45B
28x - - 1.61% 4.24B
-155.97x2.75x15.19x1.08% 4.06B
Average -5.67x 2.39x 17.50x 3.05% 15.74B
Weighted average by Cap. 9.73x 3.19x 16.76x 3.14%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Berliner Effektengesellschaft AG