Company Valuation: NEURONES

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 920.3 950.8 1,062 1,067 1,047 864 - -
Change - 3.32% 11.69% 0.47% -1.89% -17.46% - -
Enterprise Value (EV) 1 655.7 679 771.5 747.4 710.1 532.9 500.2 462
Change - 3.56% 13.62% -3.13% -4.99% -24.96% -6.13% -7.64%
P/E 24.5x 21.6x 21.6x 20.3x 20.1x 15.5x 13.9x 12.6x
PBR 2.95x 2.87x 3x 2.82x 2.62x 2.09x 1.96x 1.84x
PEG - 1.2x 1.9x 3.17x -21.71x 1.76x 1.2x 1.2x
Capitalization / Revenue 1.59x 1.43x 1.43x 1.32x 1.22x 0.94x 0.89x 0.85x
EV / Revenue 1.13x 1.02x 1.04x 0.92x 0.83x 0.58x 0.51x 0.45x
EV / EBITDA 8.6x 7.59x 8.33x 7.82x 7.46x 5.18x 4.41x 3.73x
EV / EBIT 10.6x 9.31x 10.2x 9.59x 9.39x 6.46x 5.42x 4.53x
EV / FCF - - - - - - - -
FCF Yield - - - - - - - -
Dividend per Share 2 1 1 1.2 1.3 1.4 1.5 1.6 1.7
Rate of return 2.63% 2.55% 2.74% 2.96% 3.25% 4.14% 4.42% 4.7%
EPS 2 1.55 1.82 2.03 2.16 2.14 2.329 2.598 2.869
Distribution rate 64.5% 54.9% 59.1% 60.2% 65.4% 64.4% 61.6% 59.2%
Net sales 1 579.9 665.4 741.2 810.4 857.2 917.2 972.2 1,021
EBITDA 1 76.28 89.44 92.61 95.58 95.14 103 113.5 123.9
EBIT 1 61.6 72.9 75.9 77.9 75.6 82.55 92.36 102.1
Net income 1 37.7 44.3 49.4 52.5 52.1 56.77 63.33 69.95
Net Debt 1 -264.6 -271.8 -290.4 -319.5 -336.6 -331.1 -363.8 -402
Reference price 2 38.00 39.25 43.75 43.95 43.05 36.20 36.20 36.20
Nbr of stocks (in thousands) 24,218 24,224 24,272 24,274 24,313 23,867 - -
Announcement Date 2/9/22 2/8/23 3/6/24 3/5/25 3/11/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.54x0.58x5.18x4.14% 991M
22.77x3.72x12.99x2.92% 219B
-133.08x18.57x102.94x-.--% 120B
13.79x1.52x8.01x3.47% 114B
13.78x2.51x9.46x5.96% 80.39B
19.36x5.14x12.63x2.93% 57.92B
13.62x1.97x8.34x5.72% 43.9B
22.36x1.83x11.42x1.31% 43.83B
21.06x1.6x10.17x0.89% 40.53B
17.65x2.23x10.58x4.95% 36.18B
Average 2.69x 3.97x 19.17x 3.23% 75.58B
Weighted average by Cap. -5.37x 5.32x 25.44x 2.92%

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

-40%: Exceptional extension
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