Financials Neoen

Equities

NEOEN

FR0011675362

Independent Power Producers

Real-time Euronext Paris 04:28:10 2024-06-25 EDT 5-day change 1st Jan Change
37.74 EUR +1.78% Intraday chart for Neoen +4.14% +24.70%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 2,622 5,344 4,078 4,028 4,602 5,655 - -
Enterprise Value (EV) 1 4,576 7,718 6,438 6,915 7,617 9,905 10,940 11,884
P/E ratio 75.4 x 1,568 x 109 x 102 x 32.2 x 65.5 x 40.7 x 33.3 x
Yield - - 0.26% 0.33% 0.5% 0.43% 0.56% 0.65%
Capitalization / Revenue 10.4 x 17.9 x 12.2 x 8.01 x 8.78 x 8.76 x 6.35 x 5.24 x
EV / Revenue 18.1 x 25.8 x 19.3 x 13.7 x 14.5 x 15.3 x 12.3 x 11 x
EV / EBITDA 21.2 x 28.5 x 21.4 x 16.7 x 16 x 18.3 x 15.3 x 14.3 x
EV / FCF -7.9 x -25.1 x -13.5 x -10.6 x -10.6 x -10.4 x -9.6 x -16.2 x
FCF Yield -12.7% -3.98% -7.43% -9.46% -9.47% -9.64% -10.4% -6.17%
Price to Book 3.97 x 8.39 x 2.94 x 2.27 x 1.74 x 2.08 x 1.96 x 1.88 x
Nbr of stocks (in thousands) 84,849 85,231 106,858 107,105 151,976 152,519 - -
Reference price 2 30.90 62.70 38.16 37.61 30.28 37.08 37.08 37.08
Announcement Date 3/25/20 3/11/21 3/14/22 3/1/23 2/28/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 253.2 298.8 333.6 503.2 524.4 645.9 890.7 1,079
EBITDA 1 216.1 270.4 300.4 414 474.8 542.4 713.7 830.8
EBIT 1 135.9 142.4 171.2 259.3 294.7 320.1 441.1 524.3
Operating Margin 53.67% 47.66% 51.32% 51.53% 56.2% 49.56% 49.53% 48.57%
Earnings before Tax (EBT) 1 44.9 24.8 53.5 78.3 211.6 134.4 212.6 261.4
Net income 1 36 3.9 41 45.2 150.2 90.06 139.1 167.6
Net margin 14.22% 1.31% 12.29% 8.98% 28.64% 13.94% 15.61% 15.52%
EPS 2 0.4100 0.0400 0.3500 0.3700 0.9400 0.5658 0.9116 1.115
Free Cash Flow 1 -579.5 -307.4 -478.5 -654.2 -721.3 -955.1 -1,140 -732.9
FCF margin -228.87% -102.88% -143.44% -130.01% -137.55% -147.86% -127.95% -67.89%
FCF Conversion (EBITDA) - - - - - - - -
FCF Conversion (Net income) - - - - - - - -
Dividend per Share 2 - - 0.1000 0.1250 0.1500 0.1582 0.2084 0.2427
Announcement Date 3/25/20 3/11/21 3/14/22 3/1/23 2/28/24 - - -
1EUR in Million2EUR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 2021 S1 2022 Q1 2022 Q2 2022 S1 2022 Q3 2022 Q4 2023 Q2 2023 S1 2023 Q4 2024 Q1
Net sales 1 157.2 164.9 109.1 114.9 224 130.5 148.7 122.6 277 126.9 141.4
EBITDA 148.2 125.9 - - 175 - - - 252.2 - -
EBIT 95.9 - - - 103 - - - 163.4 - -
Operating Margin 61.01% - - - 45.98% - - - 58.99% - -
Earnings before Tax (EBT) - - - - - - - - - - -
Net income - - - - - - - - 92.2 - -
Net margin - - - - - - - - 33.29% - -
EPS - - - - - - - - - - -
Dividend per Share - - - - - - - - - - -
Announcement Date 9/23/20 7/30/21 4/28/22 7/28/22 7/28/22 11/3/22 3/1/23 7/27/23 7/27/23 2/28/24 5/2/24
1EUR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 1,954 2,375 2,361 2,887 3,015 4,249 5,284 6,229
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 9.043 x 8.781 x 7.858 x 6.972 x 6.351 x 7.835 x 7.403 x 7.497 x
Free Cash Flow 1 -580 -307 -479 -654 -721 -955 -1,140 -733
ROE (net income / shareholders' equity) 5.51% 3.01% 4.1% 2.77% 6.61% 3.13% 4.65% 5.51%
ROA (Net income/ Total Assets) 1.21% 0.55% 0.94% 0.81% 2.2% 1.07% 1.43% 1.46%
Assets 1 2,977 715.6 4,361 5,609 6,838 8,394 9,709 11,483
Book Value Per Share 2 7.790 7.470 13.00 16.50 17.40 17.90 18.90 19.80
Cash Flow per Share 2 2.060 2.350 2.360 3.750 2.250 2.310 3.790 4.590
Capex 1 764 530 755 1,111 1,046 1,464 1,488 1,274
Capex / Sales 301.74% 177.28% 226.17% 220.83% 199.47% 226.65% 167.01% 118.01%
Announcement Date 3/25/20 3/11/21 3/14/22 3/1/23 2/28/24 - - -
1EUR in Million2EUR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
B-
More Ratings
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
9
Last Close Price
37.08 EUR
Average target price
37.15 EUR
Spread / Average Target
+0.19%
Consensus

Quarterly revenue - Rate of surprise