Company Valuation: PNE AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 645 1,630 1,056 848.8 773.7 553.8 - -
Change - 152.66% -35.18% -19.66% -8.84% -28.42% - -
Enterprise Value (EV) 1 1,014 2,081 1,742 1,658 1,492 1,210 1,158 1,153
Change - 105.26% -16.31% -4.82% -9.98% -18.9% -4.29% -0.5%
P/E 25.6x 107x -106x -61.6x -18x 27.5x 23.6x 27.5x
PBR 2.81x 6.86x 4.99x 4.29x 4.97x 3.11x 2.84x 2.55x
PEG - -2.7x 1x -1.6x -0x -0x 1.4x -1.9x
Capitalization / Revenue 5.48x 12.9x 8.69x 4.03x 3.36x 1.73x 1.78x 1.95x
EV / Revenue 8.61x 16.5x 14.3x 7.88x 6.48x 3.79x 3.73x 4.05x
EV / EBITDA 31x 58.8x 43.6x 24x 27x 11.8x 11.7x 12.6x
EV / EBIT 109x 337x 304x 47.2x 116x 19.4x 19.2x 21.6x
EV / FCF -11.4x -19.9x -9.09x -7.85x -9.7x 15.2x 17.9x 107x
FCF Yield -8.78% -5.03% -11% -12.7% -10.3% 6.56% 5.59% 0.93%
Dividend per Share 2 0.04 0.04 0.04 0.04 - 0.04 0.04 0.04
Rate of return 0.47% 0.19% 0.29% 0.36% - 0.55% 0.55% 0.55%
EPS 2 0.33 0.2 -0.13 -0.18 -0.56 0.2633 0.3067 0.2633
Distribution rate 12.1% 20% -30.8% -22.2% - 15.2% 13% 15.2%
Net sales 1 117.7 126.2 121.5 210.4 230.2 319.2 310.5 284.3
EBITDA 1 32.7 35.4 39.9 69 55.3 102.6 99.32 91.31
EBIT 1 9.265 6.173 5.738 35.1 12.9 62.38 60.43 53.45
Net income 1 25.13 14.9 -9.554 -13.4 -47.4 26.59 23.27 19.92
Net Debt 1 368.8 451.2 685.1 808.9 718.6 656.5 604.5 598.7
Reference price 2 8.450 21.350 13.840 11.080 10.100 7.230 7.230 7.230
Nbr of stocks (in thousands) 76,337 76,337 76,337 76,603 76,603 76,603 - -
Announcement Date 3/30/22 3/29/23 3/27/24 3/27/25 3/25/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.6x1.2x8.89x0.83% 30.86B
18.47x1.13x9.42x1.45% 9.99B
22.77x2.6x14.88x0.73% 6.08B
19.5x4.07x16.1x0.43% 3.99B
17.96x0.56x10.61x3.49% 3.12B
20.75x - - 0.7% 1.92B
Average 20.18x 1.91x 11.98x 1.27% 9.32B
Weighted average by Cap. 20.79x 1.52x 10.29x 1.04%

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