Company Valuation: D2L Inc.

Data adjusted to current consolidation scope
Fiscal Period: January 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 610.9 351.5 401.7 713.8 437 404.9 - -
Change - -42.46% 14.28% 77.68% -38.77% -7.34% - -
Enterprise Value (EV) 1 496.2 240.8 284.8 614.6 317.8 279.9 239 175.7
Change - -51.48% 18.27% 115.82% -48.29% -11.94% -14.61% -26.47%
P/E -4.01x -18.9x -107x 28.4x 50.1x 40.6x 16.2x 13.9x
PBR 9.21x - - - - - - -
PEG - 0.2x 1.3x -0x -0.8x 2.2x 0x 0.8x
Capitalization / Revenue 4.02x 2.09x 2.2x 3.48x 2.01x 1.76x 1.62x 1.49x
EV / Revenue 3.27x 1.43x 1.56x 2.99x 1.46x 1.22x 0.96x 0.65x
EV / EBITDA 3,649x -82.9x 36.2x 21.9x 9.67x 8.25x 5.33x 3.32x
EV / EBIT -6.64x -11.8x -40x 99.2x 25.3x 13.5x 7.32x 5.5x
EV / FCF -726x 2,250x 28.7x 22.8x 7.53x 8.17x 5.32x 3.31x
FCF Yield -0.14% 0.04% 3.49% 4.39% 13.3% 12.2% 18.8% 30.2%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -2.88 -0.35 -0.07 0.46 0.16 0.19 0.4757 0.555
Distribution rate - - - - - - - -
Net sales 1 151.9 168.4 182.4 205.3 217.5 229.5 250.1 271.3
EBITDA 1 0.136 -2.904 7.862 28.08 32.85 33.92 44.8 52.86
EBIT 1 -74.71 -20.4 -7.112 6.198 12.56 20.79 32.64 31.97
Net income 1 -97.65 -18.38 -3.542 25.72 8.964 9.412 25.69 29.46
Net Debt 1 -114.7 -110.7 -116.9 -99.18 -119.2 -125.1 -165.9 -229.2
Reference price 2 11.549 6.628 7.474 13.079 8.014 7.712 7.712 7.712
Nbr of stocks (in thousands) 52,896 53,033 53,746 54,574 54,534 52,509 - -
Announcement Date 3/28/22 4/4/23 4/3/24 4/2/25 4/1/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
42.64x1.31x8.86x - 425M
26.66x9.93x16.07x0.73% 3,937B
126.4x55.99x91.27x-.--% 472B
20.92x5.96x10.36x1.43% 423B
241.46x21.55x63.1x-.--% 312B
28.9x5.91x18.36x1.29% 269B
2611.5x43.74x143.09x-.--% 268B
74.96x6.92x18.48x-.--% 114B
43.13x11.92x30.6x-.--% 102B
13.6x3.62x7.56x-.--% 96.57B
Average 323.02x 16.68x 40.78x 0.38% 599.37B
Weighted average by Cap. 161.93x 15.09x 29.98x 0.64%

Y-o-Y evolution of P/E

Valuation ratios - P/E - D2L Inc.

Historical PBR trend

Valuation ratios - PBR - D2L Inc.

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - D2L Inc.

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - D2L Inc.