Company Valuation: FirstGroup plc

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 804.6 724 1,131 935.7 917.3 914.2 - -
Change - -10.02% 56.24% -17.27% -1.96% -0.34% - -
Enterprise Value (EV) 1 1,424 1,993 2,276 1,911 1,643 1,428 1,329 1,275
Change - 40.01% 14.19% -16.05% -14.02% -13.07% -6.96% -4.07%
P/E 1.82x 8.94x -75.2x 8x 8.2x 8.73x 8.6x 6.97x
PBR 1.32x 0.97x 1.78x 1.33x 1.29x 1.23x 1.1x 1x
PEG - -0.1x 1x -0x 16.81x -2.25x 5.68x 0.3x
Capitalization / Revenue 0.18x 0.15x 0.24x 0.18x 0.19x 0.22x 0.44x 0.42x
EV / Revenue 0.31x 0.42x 0.48x 0.38x 0.35x 0.34x 0.63x 0.58x
EV / EBITDA 1.95x 2.61x 3.04x 2.45x 2.34x 2.29x 4.02x 3.71x
EV / EBIT 13.4x 12.4x 11.1x 8.58x 7.49x 7.17x 8.25x 7.46x
EV / FCF -7.65x 5.03x 6.97x 3.17x 4.39x 14.4x 9.41x 11.4x
FCF Yield -13.1% 19.9% 14.3% 31.6% 22.8% 6.95% 10.6% 8.8%
Dividend per Share 2 0.011 0.038 0.055 0.065 0.072 0.0738 0.0756 0.0791
Rate of return 1% 3.73% 3.05% 3.96% 4.26% 4.27% 4.37% 4.58%
EPS 2 0.602 0.114 -0.024 0.205 0.206 0.198 0.201 0.248
Distribution rate 1.83% 33.3% -229% 31.7% 35% 37.3% 37.6% 31.9%
Net sales 1 4,592 4,755 4,715 5,066 4,752 4,215 2,100 2,184
EBITDA 1 731.2 762.4 748.6 780.4 700.8 624.7 330.4 343.9
EBIT 1 106.1 161 204.3 222.8 219.4 199.2 161 170.9
Net income 1 636.4 87.1 -15.9 127.5 118.3 113 98.5 113.5
Net Debt 1 619 1,269 1,145 974.8 725.3 513.8 414.4 360.3
Reference price 2 1.095 1.019 1.804 1.640 1.689 1.728 1.728 1.728
Nbr of stocks (in thousands) 734,762 710,477 627,001 570,558 543,129 529,055 - -
Announcement Date 6/14/22 6/8/23 6/11/24 6/10/25 6/18/26 - - -
1GBP in Million2GBP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.45x4.99x15.1x3.94% 26.37B
17.77x4.3x12x2.84% 5.75B
14.41x0.65x4.69x6.2% 2.1B
8.68x0.34x2.28x4.3% 1.22B
-18.36x8.69x20.52x0.9% 977M
Average 6.59x 3.79x 10.92x 3.63% 7.28B
Weighted average by Cap. 11.00x 4.57x 13.72x 3.83%

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

-40%: Exceptional extension
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