Company Valuation: PRIO S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 17,347 31,405 38,513 33,498 33,565 51,012 - -
Change - 81.04% 22.63% -13.02% 0.2% 51.98% - -
Enterprise Value (EV) 1 16,598 29,431 43,571 47,907 57,922 71,090 67,040 66,336
Change - 77.32% 48.04% 9.95% 20.91% 22.73% -5.7% -1.05%
P/E 12.9x 9.25x 7.53x 3.27x 15x 6.65x 6.79x 5.78x
PBR 2.74x 3.17x 2.79x 1.27x 1.3x 1.71x 1.62x 1.37x
PEG - 0x 0.1x 0x -0.2x 0x -3.25x 0.3x
Capitalization / Revenue 3.95x 4.94x 3.24x 2.33x 2.15x 1.98x 1.92x 1.94x
EV / Revenue 3.78x 4.62x 3.66x 3.34x 3.72x 2.76x 2.53x 2.52x
EV / EBITDA 5.82x 6.17x 4.73x 4.82x 7.81x 4.02x 3.42x 3.4x
EV / EBIT 7.82x 7.52x 6.09x 6.9x 32x 6.83x 5.9x 5.56x
EV / FCF 13.4x 116x 12.5x 7.9x 21.1x 9.2x 5.1x 5.38x
FCF Yield 7.47% 0.86% 8.02% 12.7% 4.73% 10.9% 19.6% 18.6%
Dividend per Share 2 - - - - - 4.701 13.63 14.79
Rate of return - - - - - 7.32% 21.2% 23%
EPS 2 1.597 4.023 6.114 12.29 2.77 9.653 9.451 11.11
Distribution rate - - - - - 48.7% 144% 133%
Net sales 1 4,396 6,363 11,905 14,361 15,584 25,767 26,520 26,298
EBITDA 1 2,854 4,770 9,210 9,944 7,420 17,699 19,615 19,501
EBIT 1 2,121 3,916 7,156 6,945 1,809 10,406 11,371 11,931
Net income 1 1,333 3,427 5,180 10,302 2,251 7,695 7,474 8,731
Net Debt 1 -749.6 -1,974 5,058 14,409 24,357 20,078 16,028 15,324
Reference price 2 20.67 37.21 46.05 40.15 41.42 64.19 64.19 64.19
Nbr of stocks (in thousands) 839,253 843,994 836,331 834,326 810,348 798,179 - -
Announcement Date 2/15/22 3/1/23 3/8/24 3/13/25 3/11/26 - - -
1BRL in Million2BRL
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.65x2.77x4.03x7.32% 10.04B
12.97x2.47x5.62x2.47% 165B
12.42x3.31x6.34x3.59% 103B
8.69x2.66x4.63x2.8% 77.29B
7.55x2.58x4.1x1.67% 61.44B
9.94x1.48x4.81x1.9% 61.01B
9.7x2.67x5.21x2.21% 57.76B
12.36x3.7x5.26x2.13% 57.4B
12.35x3.45x5.21x5.71% 44.8B
12.79x4.11x6.1x1.22% 33.82B
Average 10.54x 2.92x 5.13x 3.1% 67.16B
Weighted average by Cap. 11.14x 2.82x 5.31x 2.73%

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

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