Company Valuation: Kalray

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 184.8 113.9 176 9.744 15.25 55.7 - -
Change - -38.35% 54.45% -94.46% 56.47% 265.38% - -
Enterprise Value (EV) 1 184.2 94.72 173 21.02 20.61 62.3 61.8 60.8
Change - -48.58% 82.63% -87.85% -1.97% 202.35% -0.8% -1.62%
P/E -12.2x -6.94x -14.7x -0.4x -3.19x 74.2x 41.2x 33.7x
PBR - 2.93x 3.56x 0.33x - 2.18x 2.06x 1.95x
PEG - 1.96x 0.3x -0x 0x -1x 0.5x 1.5x
Capitalization / Revenue 127x 6.94x 6.81x 0.39x 0.93x 2.99x 2.84x 2.7x
EV / Revenue 127x 5.77x 6.7x 0.85x 1.25x 3.35x 3.15x 2.95x
EV / EBITDA -31.9x -35.4x -161x -2.57x 4.46x 4.83x 4.87x 4.64x
EV / EBIT -9.89x -4.83x -10.6x -0.73x -2.11x 56.6x 34.3x 27.6x
EV / FCF -8.88x -5.78x -7.6x -0.74x -1.36x -19.5x 155x 60.8x
FCF Yield -11.3% -17.3% -13.2% -135% -73.7% -5.14% 0.65% 1.64%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -2.592 -2.5 -1.41 -2.64 -0.37 0.05 0.09 0.11
Distribution rate - - - - - - - -
Net sales 1 1.454 16.41 25.83 24.82 16.45 18.6 19.6 20.6
EBITDA 1 -5.771 -2.678 -1.074 -8.188 4.624 12.9 12.7 13.1
EBIT 1 -18.62 -19.63 -16.26 -28.94 -9.769 1.1 1.8 2.2
Net income 1 -15.12 -15.55 -11.69 -23.27 -4.54 1 1.8 2.2
Net Debt 1 -0.596 -19.22 -3.002 11.28 5.361 6.6 6.1 5.1
Reference price 2 31.700 17.340 20.750 1.050 1.180 3.710 3.710 3.710
Nbr of stocks (in thousands) 5,830 6,571 8,482 9,280 12,920 15,015 - -
Announcement Date 3/28/22 4/17/23 4/24/24 4/30/25 4/23/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
74.3x3.35x4.84x - 62.75M
21.41x12.22x18.42x0.35% 5,171B
22.01x10.78x14.61x1.11% 1,934B
35.53x15.04x22.1x0.79% 1,569B
5.08x3.08x3.43x0.08% 994B
92.31x16.71x63.34x-.--% 863B
3.59x2.18x2.62x0.28% 695B
-38.9x7.81x21.78x-.--% 472B
32.41x11.77x21.83x2.08% 252B
Average 27.53x 9.22x 19.22x 0.59% 1,328B
Weighted average by Cap. 23.94x 11.15x 19.57x 0.5%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Kalray

Historical PBR trend

Valuation ratios - PBR - Kalray

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Kalray

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Kalray