Company Valuation: Forus S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 284,316 305,510 421,201 443,507 600,940 472,223 - -
Change - 7.45% 37.87% 5.3% 35.5% -21.42% - -
Enterprise Value (EV) 1 312,194 354,083 467,601 517,002 680,297 543,824 544,261 544,853
Change - 13.42% 32.06% 10.56% 31.59% -20.06% 0.08% 0.11%
P/E 7.22x 9.69x 14.6x 14.7x 21.9x 21.7x 17.4x 15.4x
PBR 1.48x 1.55x 1.98x 1.88x 2.35x 1.94x 1.94x 1.96x
PEG - -0.5x -1.71x 2.98x -2.35x -1x 0.7x 1.2x
Capitalization / Revenue 0.96x 0.97x 1.29x 1.18x 1.49x 1.14x 1.09x 1.03x
EV / Revenue 1.06x 1.12x 1.43x 1.38x 1.68x 1.31x 1.25x 1.19x
EV / EBITDA 4.36x 5.7x 8.29x 7.91x 10.1x 8.44x 7.72x 7.11x
EV / EBIT 5.96x 11.1x 14.4x 13.2x 17.9x 16.9x 14.2x 12.8x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 60.95 - - - - 128.4 102.7 128.6
Rate of return 5.54% - - - - 7.03% 5.62% 7.04%
EPS 2 152.4 122 111.6 117.1 106.2 84.25 105.1 118.4
Distribution rate 40% - - - - 152% 97.7% 109%
Net sales 1 294,690 315,055 326,555 375,983 403,758 413,950 435,096 457,640
EBITDA 1 71,597 62,158 56,386 65,367 67,211 64,444 70,513 76,639
EBIT 1 52,371 32,011 32,531 39,058 38,013 32,266 38,328 42,457
Net income 1 39,350 31,543 28,860 30,093 27,452 21,861 27,276 30,729
Net Debt 1 27,878 48,572 46,400 73,495 79,357 71,601 72,038 72,630
Reference price 2 1,100.00 1,182.00 1,629.60 1,715.90 2,325.00 1,827.00 1,827.00 1,827.00
Nbr of stocks (in thousands) 258,469 258,469 258,469 258,469 258,469 258,469 - -
Announcement Date 3/2/22 3/1/23 3/2/24 4/1/25 2/27/26 - - -
1CLP in Million2CLP
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.69x1.31x8.44x7.03% 505M
26.36x4.06x14.35x3.38% 208B
41.36x5.09x21.07x0.9% 136B
26.74x2.72x17.51x0.77% 73.69B
46.54x2.64x10.12x1.38% 34.94B
22.39x1.5x8.5x4.17% 29.28B
15.4x3x11.5x1.53% 24.35B
18.95x2.62x11.74x1.89% 23.67B
23.1x1.37x11.66x-.--% 16.67B
15.02x1.79x7.58x4.31% 10.68B
Average 25.75x 2.61x 12.25x 2.54% 55.76B
Weighted average by Cap. 30.01x 3.68x 15.38x 2.12%

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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