Company Valuation: Lubawa S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 207.4 162.9 336.6 368.5 657.9 1,205
Change - -21.45% 106.64% 9.46% 78.55% 83.19%
Enterprise Value (EV) 1 250.6 179.9 360.7 287.4 421.3 893.9
Change - -28.22% 100.47% -20.31% 46.61% 112.14%
P/E 6.62x 6.78x 16.3x 8.17x 6.53x 9.55x
PBR 0.77x 0.55x 1.07x 1.02x 1.42x 2.05x
PEG - -0.3x -1.1x 0x 0x 0.4x
Capitalization / Revenue 0.87x 0.61x 1.01x 0.98x 1.29x 1.95x
EV / Revenue 1.05x 0.68x 1.09x 0.76x 0.83x 1.45x
EV / EBITDA 5.03x 4.37x 9.15x 4.28x 3.3x 5.65x
EV / EBIT 6.37x 5.99x 12.8x 5.13x 3.62x 6.11x
EV / FCF 80.7x 14.2x -32x 3.03x 3.09x 22.9x
FCF Yield 1.24% 7.04% -3.12% 33% 32.3% 4.38%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 0.2083 0.16 0.1371 0.3 0.67 0.84
Distribution rate - - - - - -
Net sales 1 237.7 265.4 332 377.6 510.2 616.7
EBITDA 1 49.82 41.18 39.4 67.19 127.6 158.2
EBIT 1 39.36 30.03 28.19 56.07 116.5 146.4
Net income 1 31.31 24.24 20.61 45.61 100.8 126.3
Net Debt 1 43.26 17.01 24.06 -81.06 -236.5 -311.3
Reference price 2 1.38 1.08 2.24 2.45 4.38 8.02
Nbr of stocks (in thousands) 150,270 150,270 150,270 150,270 150,270 150,270
Announcement Date 4/29/21 4/28/22 4/29/23 4/23/24 4/28/25 4/30/26
1PLN in Million2PLN
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.15x0.56x5.98x3.55% 4.12B
34.28x4.74x23.06x0.54% 3.81B
37.87x2.15x17.57x - 2.35B
11.96x1.65x6.99x3.33% 2.04B
10.37x - - 5.68% 1.84B
11.54x - - 7.52% 1.62B
Average 19.36x 2.27x 13.40x 4.12% 2.63B
Weighted average by Cap. 20.50x 2.34x 13.64x 3.43%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA