Company Valuation: Implenia AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 383.1 701.5 562.5 564.8 1,410 1,269 - -
Change - 83.13% -19.81% 0.4% 149.58% -9.99% - -
Enterprise Value (EV) 1 474.2 748.1 794.6 849.4 1,634 1,398 1,568 1,404
Change - 57.75% 6.21% 6.89% 92.33% -14.44% 12.16% -10.44%
P/E 6.83x 6.81x 4.03x 6.14x 16.9x 15.1x 12.2x 11x
PBR 1.11x 1.46x 0.98x 0.86x 1.88x 1.56x 1.42x 1.31x
PEG - 0.1x 0.1x -0.2x -1.8x 32.82x 0.5x 0.9x
Capitalization / Revenue 0.1x 0.2x 0.16x 0.16x 0.41x 0.37x 0.34x 0.33x
EV / Revenue 0.13x 0.21x 0.22x 0.24x 0.47x 0.41x 0.42x 0.36x
EV / EBITDA 2.11x 3.21x 3.51x 3.43x 6x 5.36x 5.5x 4.71x
EV / EBIT 4.13x 5.39x 6.48x 6.51x 11.6x 9.94x 9.99x 8.38x
EV / FCF -1.98x 2.63x -10.9x 35.9x 13x 12.5x 15.1x 13.9x
FCF Yield -50.5% 38% -9.2% 2.79% 7.67% 7.99% 6.62% 7.2%
Dividend per Share 2 - 0.4 0.6 0.9 1.4 1.55 1.725 1.958
Rate of return - 1.05% 1.97% 2.93% 1.83% 2.26% 2.51% 2.85%
EPS 2 3.04 5.59 7.57 5 4.53 4.551 5.619 6.271
Distribution rate - 7.16% 7.93% 18% 30.9% 34.1% 30.7% 31.2%
Net sales 1 3,765 3,563 3,596 3,559 3,475 3,428 3,691 3,882
EBITDA 1 224.8 233.1 226.4 247.9 272.3 260.6 285.1 298.3
EBIT 1 114.8 138.9 122.6 130.5 140.5 140.6 156.9 167.5
Net income 1 61.16 104.8 141 92.36 83.64 83.4 106.4 117.8
Net Debt 1 91.19 46.67 232.1 284.6 224.1 129 298.9 135.3
Reference price 2 20.76 38.05 30.50 30.70 76.50 68.70 68.70 68.70
Nbr of stocks (in thousands) 18,452 18,436 18,444 18,398 18,427 18,468 - -
Announcement Date 3/8/22 3/1/23 2/28/24 2/26/25 3/4/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
54.28x2.48x23.72x0.07% 93.49B
12.63x1.08x5.9x4.63% 74.14B
27x2.07x20.31x1.12% 58.09B
33.25x4.18x22.67x0.2% 56.74B
52.24x4.2x26.69x1.7% 42.56B
29.59x0.73x12.06x2.09% 37.31B
23.66x1.62x14.9x0.2% 34.19B
24.19x0.49x7.81x2.44% 33.44B
4.51x0.3x5.99x6.24% 27.23B
Average 29.04x 1.90x 15.56x 2.08% 50.8B
Weighted average by Cap. 31.79x 2.09x 16.71x 1.83%

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