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 2,802 - -
Change - -13.03% 24.09% 8.68% 4.6% -18.2% - -
Enterprise Value (EV) 1 3,636 3,133 3,594 3,764 3,678 3,307 3,250 3,195
Change - -13.82% 14.7% 4.73% -2.27% -10.09% -1.72% -1.69%
P/E 14.4x 30.5x 19.5x 13.2x 12.8x 11x 9.95x 9.33x
PBR 1.69x 1.65x 2.09x 2.2x 2.26x 1.85x 1.81x 1.78x
PEG - -0.5x 0.2x 0.2x 1.2x -2.18x 1x 1.42x
Capitalization / Revenue 1.09x 0.95x 1.15x 1.32x 1.4x 0.93x 0.91x 0.86x
EV / Revenue 1.42x 1.23x 1.37x 1.52x 1.51x 1.1x 1.06x 0.98x
EV / EBITDA 8.13x 6.55x 7.18x 7.48x 7.14x 6.35x 5.87x 5.4x
EV / EBIT 14.5x 24.2x 14.6x 10.5x 9.77x 8.94x 7.95x 7.06x
EV / FCF 11.4x 9.42x 13.7x 12.9x 12.6x 11.8x 10.5x 9.67x
FCF Yield 8.77% 10.6% 7.31% 7.77% 7.94% 8.49% 9.5% 10.3%
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% 8.52% 8.97% 9.29%
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 24.00 24.00 24.00
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
10.99x1.1x6.35x8.52% 3.24B
11.44x1.35x4.34x6.76% 230B
10.36x2.5x6.61x6% 196B
13.96x2.18x5.62x3.88% 161B
12.66x1.83x7.95x3.4% 81.84B
11.6x0.87x3.24x6.77% 79.05B
11.76x1.89x4.78x2.7% 71.51B
15.33x2.72x8.54x5.09% 57.68B
23.14x5.21x18.5x4.65% 54.9B
13.23x1.78x5.46x4.79% 50.56B
Average 13.45x 2.14x 7.14x 5.26% 98.5B
Weighted average by Cap. 12.75x 2.07x 6.34x 5.25%

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