Company Valuation: Cencosud S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,030,050 3,908,675 4,642,821 6,172,780 7,972,859 5,747,619 - -
Change - -3.01% 18.78% 32.95% 29.16% -27.91% - -
Enterprise Value (EV) 1 6,371,686 7,301,072 9,438,318 10,956,942 12,785,962 10,607,813 10,485,759 10,362,532
Change - 14.59% 29.27% 16.09% 16.69% -17.04% -1.15% -1.18%
P/E 6.36x 6.43x 21.5x 39.3x - 15.7x 11.3x 10.2x
PBR 0.96x - 1.26x 1.16x 1.72x 1.21x 1.16x 1.1x
PEG - -2.07x -0.3x -1.4x - - 0.3x 1x
Capitalization / Revenue 0.35x 0.27x 0.3x 0.38x 0.47x 0.34x 0.32x 0.31x
EV / Revenue 0.56x 0.51x 0.62x 0.68x 0.76x 0.62x 0.59x 0.55x
EV / EBITDA 4.54x 4.6x 5.78x 7.04x 8.47x 6.87x 6.31x 5.65x
EV / EBIT 6.05x 5.85x 7.51x 9.63x 11.1x 9.6x 8.53x 7.86x
EV / FCF 6.29x 9.24x 8.49x 12.3x 24.6x 18.6x 13.3x 15.4x
FCF Yield 15.9% 10.8% 11.8% 8.14% 4.07% 5.36% 7.49% 6.48%
Dividend per Share 2 73.66 - - 14.62 - 26.96 22.14 24.16
Rate of return 5.17% - - 0.66% - 1.29% 1.06% 1.16%
EPS 2 224 217.1 77 56 - 132.7 185.1 204.3
Distribution rate 32.9% - - 26.1% - 20.3% 12% 11.8%
Net sales 1 11,356,864 14,283,499 15,230,381 16,060,507 16,900,071 17,107,671 17,904,282 18,710,275
EBITDA 1 1,402,982 1,586,861 1,634,048 1,556,394 1,509,497 1,543,832 1,660,846 1,832,924
EBIT 1 1,052,400 1,248,111 1,257,009 1,137,640 1,156,774 1,104,688 1,229,490 1,318,594
Net income 1 639,379 619,000 220,280 158,935 314,917 368,792 501,819 554,721
Net Debt 1 2,341,637 3,392,397 4,795,497 4,784,162 4,813,103 4,860,195 4,738,140 4,614,914
Reference price 2 1,425.00 1,395.00 1,655.00 2,200.00 2,895.00 2,087.00 2,087.00 2,087.00
Nbr of stocks (in thousands) 2,828,105 2,801,918 2,805,330 2,805,809 2,754,010 2,754,010 - -
Announcement Date 3/3/22 3/2/23 3/5/24 3/6/25 2/6/26 - - -
1CLP in Million2CLP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.22x0.87x5.89x6.23% 37.82B
37.81x1.55x19.39x0.32% 29.87B
16.73x0.59x6.76x2.96% 26.95B
70.14x3.11x40.67x-.--% 26.17B
26.03x0.85x9.14x3.5% 23.05B
16.85x0.39x5.73x3.64% 13.3B
11.27x0.24x4.35x6.53% 13.14B
7.53x1.68x5.68x2.89% 11.21B
19.95x0.78x8.48x2.86% 10.19B
Average 25.17x 1.12x 11.79x 3.21% 21.3B
Weighted average by Cap. 28.38x 1.21x 13.26x 3.14%

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