Company Valuation: EVN AG

Data adjusted to current consolidation scope
Fiscal Period: September 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,088 3,036 4,509 5,054 4,172 5,180 - -
Change - -25.73% 48.51% 12.09% -17.46% 24.16% - -
Enterprise Value (EV) 1 4,902 4,272 5,619 5,917 5,118 6,414 6,554 6,918
Change - -12.84% 31.52% 5.31% -13.51% 25.32% 2.19% 5.55%
P/E 12.5x 14.4x 8.52x 10.7x 9.55x 10.6x 11.8x 11.3x
PBR 0.65x 0.43x 0.73x 0.79x 0.66x 0.78x 0.73x 0.68x
PEG - -0.4x 0x -1x -1.27x 0.9x -1.1x 2.64x
Capitalization / Revenue 1.71x 0.75x 1.2x 1.55x 1.39x 1.73x 1.64x 1.57x
EV / Revenue 2.05x 1.05x 1.49x 1.82x 1.71x 2.14x 2.08x 2.1x
EV / EBITDA 5.86x 5.66x 6.47x 7.4x 5.63x 7.24x 6.83x 6.79x
EV / EBIT 12.7x 12.9x 10.6x 13.9x 10.4x 13.3x 12.4x 12.5x
EV / FCF 13.1x -10.3x 22.4x - 160x -54.6x -35.7x -61.4x
FCF Yield 7.63% -9.67% 4.47% - 0.62% -1.83% -2.8% -1.63%
Dividend per Share 2 0.52 0.52 1.14 0.9 0.9 0.9167 0.95 0.9833
Rate of return 2.27% 3.05% 4.51% 3.17% 3.85% 3.16% 3.27% 3.38%
EPS 2 1.83 1.18 2.97 2.65 2.45 2.753 2.467 2.572
Distribution rate 28.4% 44.1% 38.4% 34% 36.7% 33.3% 38.5% 38.2%
Net sales 1 2,395 4,062 3,769 3,257 3,000 2,999 3,157 3,297
EBITDA 1 836.5 754.8 869 799.4 909.1 885.8 959.1 1,019
EBIT 1 386.4 331.6 528.5 426.2 490.9 483.7 526.9 555.2
Net income 1 325.3 209.6 529.7 471.7 436.7 490.9 444.3 457.5
Net Debt 1 813.8 1,236 1,110 863.1 945.9 1,234 1,374 1,738
Reference price 2 22.95 17.04 25.30 28.35 23.40 29.05 29.05 29.05
Nbr of stocks (in thousands) 178,138 178,181 178,219 178,279 178,279 178,306 - -
Announcement Date 12/16/21 12/15/22 12/14/23 12/13/24 12/16/25 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.33x2.1x7.12x3.22% 5.86B
28.67x4.82x35.05x0.23% 235B
20.13x8.89x15.15x3.04% 169B
19.62x4.07x11.19x3.62% 150B
12.03x1.79x6.39x5.89% 100B
19.23x5.72x12.54x3.53% 98.87B
20.45x3.19x12.95x0.66% 92.08B
17.46x5.48x11.04x3.7% 91.83B
18.74x5.05x12.2x3.19% 65.66B
17.82x6.11x12.84x4.18% 56.18B
Average 18.45x 4.72x 13.65x 3.13% 106.49B
Weighted average by Cap. 20.63x 5.14x 17.03x 2.73%

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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