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 1,984 - -
Change - -47.51% -5.29% -41.03% 40.73% -13.05% - -
Enterprise Value (EV) 1 8,544 5,933 6,178 5,827 6,213 6,042 5,941 5,866
Change - -30.56% 4.13% -5.68% 6.63% -2.76% -1.68% -1.26%
P/E 12.5x 6.43x 7.67x 3.62x 5.75x 6.44x 6.45x 6.05x
PBR 1.86x 0.88x 0.83x 0.38x 0.51x 0.43x 0.41x 0.39x
PEG - 2.94x -0.4x 0.1x -0.5x -0.3x -40.22x 0.94x
Capitalization / Revenue 0.99x 0.49x 0.46x 0.25x 0.36x 0.33x 0.32x 0.32x
EV / Revenue 1.53x 1x 1.02x 0.91x 0.99x 0.99x 0.97x 0.95x
EV / EBITDA 4.82x 3.32x 3.52x 3.15x 3.3x 3.19x 3.12x 3.05x
EV / EBIT 13.2x 9.17x 10.3x 8.43x 9.56x 10.6x 10.1x 9.52x
EV / FCF 36x 35.5x 37x 45.5x 20.8x 30.9x 43.7x 42.8x
FCF Yield 2.77% 2.81% 2.7% 2.2% 4.81% 3.23% 2.29% 2.34%
Dividend per Share 2 1.2 1.2 1.2 0.6 - 0.3 0.3818 0.49
Rate of return 7% 13.3% 14.1% 11.9% - 4.89% 6.22% 7.98%
EPS 2 1.37 1.4 1.11 1.39 1.23 0.9541 0.9525 1.014
Distribution rate 87.6% 85.7% 108% 43.2% - 31.4% 40.1% 48.3%
Net sales 1 5,578 5,909 6,042 6,430 6,307 6,083 6,130 6,174
EBITDA 1 1,772 1,786 1,757 1,850 1,883 1,893 1,906 1,924
EBIT 1 645 647 601 691 650 571 585.6 616
Net income 1 443 450 357 447 398 306.9 316.2 331.8
Net Debt 1 3,013 3,030 3,429 4,206 3,932 4,058 3,957 3,882
Reference price 2 17.140 8.996 8.510 5.025 7.075 6.140 6.140 6.140
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.($)
11.39x1.32x4.09x7.04% 224B
9.11x2.38x6.37x6.47% 182B
13.7x2.13x5.55x4.17% 149B
13.45x2.04x5.15x2.39% 79.13B
12.16x0.82x3.08x6.63% 77.03B
12.03x1.75x7.5x3.57% 75.8B
15.41x2.68x8.39x5.1% 57.37B
23.9x5.38x19.65x4.48% 56.14B
16.05x1.79x5.62x4.78% 50.1B
Average 14.13x 2.26x 7.27x 4.96% 105.65B
Weighted average by Cap. 12.83x 2.05x 6.29x 5.4%

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