Company Valuation: freenet AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,792 2,428 3,013 3,275 3,425 2,720 - -
Change - -13.03% 24.09% 8.68% 4.6% -20.59% - -
Enterprise Value (EV) 1 3,636 3,133 3,594 3,764 3,678 3,225 3,168 3,113
Change - -13.82% 14.7% 4.73% -2.27% -12.32% -1.77% -1.74%
P/E 14.4x 30.5x 19.5x 13.2x 12.8x 10.7x 9.66x 9.06x
PBR 1.69x 1.65x 2.09x 2.2x 2.26x 1.78x 1.76x 1.73x
PEG - -0.5x 0.2x 0.2x 1.2x -2.12x 0.9x 1.37x
Capitalization / Revenue 1.09x 0.95x 1.15x 1.32x 1.4x 0.9x 0.89x 0.83x
EV / Revenue 1.42x 1.23x 1.37x 1.52x 1.51x 1.07x 1.03x 0.95x
EV / EBITDA 8.13x 6.55x 7.18x 7.48x 7.14x 6.2x 5.73x 5.26x
EV / EBIT 14.5x 24.2x 14.6x 10.5x 9.77x 8.72x 7.75x 6.88x
EV / FCF 11.4x 9.42x 13.7x 12.9x 12.6x 11.5x 10.3x 9.42x
FCF Yield 8.77% 10.6% 7.31% 7.77% 7.94% 8.71% 9.75% 10.6%
Dividend per Share 2 1.57 1.68 1.77 1.97 2.07 2.044 2.153 2.23
Rate of return 6.75% 8.23% 6.99% 7.15% 7.06% 8.77% 9.24% 9.57%
EPS 2 1.62 0.67 1.3 2.08 2.3 2.184 2.412 2.571
Distribution rate 96.9% 251% 136% 94.7% 90% 93.6% 89.3% 86.7%
Net sales 1 2,556 2,557 2,627 2,478 2,440 3,017 3,063 3,262
EBITDA 1 447.3 478.7 500.2 503.1 515.4 520.6 553.4 591.6
EBIT 1 250 129.4 246.1 357.1 376.5 369.9 409 452.4
Net income 1 198.2 79.29 154.6 246.8 271.3 250.4 275.3 291.5
Net Debt 1 844 705.3 580.9 489.3 253.3 505.4 448.4 393.4
Reference price 2 23.27 20.42 25.34 27.54 29.34 23.30 23.30 23.30
Nbr of stocks (in thousands) 119,974 118,901 118,901 118,901 116,737 116,737 - -
Announcement Date 3/1/22 3/24/23 3/26/24 3/26/25 2/25/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.67x1.07x6.2x8.77% 3.11B
11.01x1.27x3.94x7.28% 216B
8.73x2.32x6.2x6.71% 176B
12.68x2.07x4.77x4.44% 140B
12.88x2.02x5.1x2.42% 78.36B
11.71x1.73x7.4x3.67% 73.76B
11.61x0.75x2.82x6.94% 71.44B
15.52x2.71x8.48x5.08% 57.8B
23.95x5.4x19.71x4.47% 56.23B
15.99x1.79x5.59x5.01% 47.67B
Average 13.48x 2.11x 7.02x 5.48% 92B
Weighted average by Cap. 12.42x 2.02x 6.13x 5.59%

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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  4. Valuation freenet AG