Company Valuation: Proximus SA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,531 2,903 2,749 1,621 2,281 1,997 - -
Change - -47.51% -5.29% -41.03% 40.73% -12.49% - -
Enterprise Value (EV) 1 8,544 5,933 6,178 5,827 6,213 6,074 6,094 6,020
Change - -30.56% 4.13% -5.68% 6.63% -2.24% 0.32% -1.2%
P/E 12.5x 6.43x 7.67x 3.62x 5.75x 6.56x 7.41x 7.13x
PBR 1.86x 0.88x 0.83x 0.38x 0.51x 0.43x 0.41x 0.4x
PEG - 2.94x -0.4x 0.1x -0.5x -0.3x -0.6x 1.81x
Capitalization / Revenue 0.99x 0.49x 0.46x 0.25x 0.36x 0.33x 0.33x 0.32x
EV / Revenue 1.53x 1x 1.02x 0.91x 0.99x 0.99x 0.99x 0.97x
EV / EBITDA 4.82x 3.32x 3.52x 3.15x 3.3x 3.2x 3.19x 3.12x
EV / EBIT 13.2x 9.17x 10.3x 8.43x 9.56x 11.2x 11.1x 10.5x
EV / FCF 36x 35.5x 37x 45.5x 20.8x 31.1x 26.7x 23x
FCF Yield 2.77% 2.81% 2.7% 2.2% 4.81% 3.22% 3.75% 4.35%
Dividend per Share 2 1.2 1.2 1.2 0.6 - 0.3 0.4 0.49
Rate of return 7% 13.3% 14.1% 11.9% - 4.85% 6.47% 7.93%
EPS 2 1.37 1.4 1.11 1.39 1.23 0.9423 0.8335 0.8664
Distribution rate 87.6% 85.7% 108% 43.2% - 31.8% 48% 56.6%
Net sales 1 5,578 5,909 6,042 6,430 6,307 6,139 6,142 6,184
EBITDA 1 1,772 1,786 1,757 1,850 1,883 1,896 1,912 1,931
EBIT 1 645 647 601 691 650 544.7 549 571.7
Net income 1 443 450 357 447 398 285.5 274.3 283.8
Net Debt 1 3,013 3,030 3,429 4,206 3,932 4,078 4,097 4,024
Reference price 2 17.140 8.996 8.510 5.025 7.075 6.180 6.180 6.180
Nbr of stocks (in thousands) 322,673 322,690 323,060 322,624 322,462 323,068 - -
Announcement Date 2/18/22 2/18/23 2/23/24 2/28/25 2/28/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
11.58x1.36x4.26x6.83% 231B
10.87x2.57x6.79x5.72% 205B
14.08x2.24x5.76x3.87% 163B
12.16x0.92x3.51x6.46% 85.05B
12.7x1.8x7.7x3.33% 81.89B
11.75x1.8x4.56x2.76% 70.6B
15.32x2.68x8.37x5.06% 57.98B
23.78x5.37x19.65x4.51% 56.84B
15.95x2.8x6.28x4.35% 51.62B
Average 14.24x 2.39x 7.43x 4.76% 111.43B
Weighted average by Cap. 13.13x 2.16x 6.47x 5.15%

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