Company Valuation: Ernst Russ AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 204.3 144.7 136.5 192.7 234.5 350.4 - -
Change - -29.21% -5.63% 41.16% 21.68% 49.43% - -
Enterprise Value (EV) 1 257.1 144.7 82.85 93.57 122 344.4 303.5 276.3
Change - -43.73% -42.72% 12.93% 30.38% 182.33% -11.89% -8.96%
P/E 12.9x 3.05x 2.45x 4.54x 3.19x 8.6x 12.9x 12.6x
PBR 2.83x - 0.8x 0.74x 0.94x 1.2x 1.12x 1.04x
PEG - 0x 0.2x -0.2x 0x -0.2x -0.4x 5.3x
Capitalization / Revenue 2.21x - 0.67x 1.12x 1.48x 2.23x 2.08x 2x
EV / Revenue 2.79x - 0.41x 0.54x 0.77x 2.2x 1.8x 1.58x
EV / EBITDA 6.51x - 0.71x 1.01x 0.97x 3.83x 3.97x 3.56x
EV / EBIT 8.35x - 0.96x 1.38x 1.27x 5.52x 7.41x 6.53x
EV / FCF 7.03x - - - 2.96x 6.67x 7.94x 6.74x
FCF Yield 14.2% - - - 33.8% 15% 12.6% 14.8%
Dividend per Share 2 - - 1 0.2 0.25 0.2833 0.2667 0.275
Rate of return - - 24.5% 3.5% 3.59% 2.72% 2.56% 2.64%
EPS 2 0.49 1.46 1.66 1.26 2.18 1.209 0.8075 0.8267
Distribution rate - - 60.2% 15.9% 11.5% 23.4% 33% 33.3%
Net sales 1 92.28 - 202.7 172.7 158.1 156.9 168.8 175.4
EBITDA 1 39.49 - 116.6 93 126.2 90.04 76.4 77.63
EBIT 1 30.8 - 86.6 67.7 96.4 62.38 40.93 42.33
Net income 1 15.78 47.27 55.08 42.47 73.48 40.76 27.14 27.87
Net Debt 1 52.75 - -53.66 -99.14 -112.5 -5.95 -46.9 -74.1
Reference price 2 6.30 4.46 4.08 5.72 6.96 10.40 10.40 10.40
Nbr of stocks (in thousands) 32,434 32,434 33,500 33,689 33,689 33,689 - -
Announcement Date 3/24/22 3/22/23 3/18/24 3/25/25 3/24/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.6x2.2x3.83x2.72% 399M
19.8x5.65x12.1x2.11% 168B
14.19x3.46x - 2.49% 151B
16.25x7.33x - 1.54% 102B
19.91x11.21x16.26x4.5% 71.26B
13.55x5.24x - 1.93% 49.81B
10.81x1.6x4.91x1.36% 43.55B
5.13x5.31x3.82x3.56% 35.34B
13.81x5.07x15.91x1.91% 32.15B
Average 13.56x 5.23x 9.47x 2.46% 72.6B
Weighted average by Cap. 15.79x 5.66x 11.56x 2.37%

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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