Company Valuation: Risma

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2023 2024 2025 2026 2027 2028
Market Cap 1 1,572 2,966 3,210 5,301 5,125 - -
Change - - 8.24% 65.14% -3.33% - -
Enterprise Value (EV) 1 3,363 2,966 4,296 7,269 6,170 6,175 6,161
Change - - 44.85% 69.23% -15.13% 0.08% -0.23%
P/E -9.15x 12.2x - 19.5x 24.2x 19.6x 17.8x
PBR - - - - - - -
PEG - - - - -0.8x 0.8x 1.7x
Capitalization / Revenue 3x - 2.54x 3.76x 3.02x 2.92x 2.79x
EV / Revenue 6.41x - 3.4x 5.15x 3.64x 3.51x 3.35x
EV / EBITDA 58.4x - 9.31x 11.5x 8.99x 8.68x 8.24x
EV / EBIT -40.3x - 14.7x 17.1x 13.3x 12.9x 12.2x
EV / FCF - - - - - - -
FCF Yield - - - - - - -
Dividend per Share 2 - - 7 9 10 11 12
Rate of return - - 3.12% 2.43% 3.12% 3.44% 3.75%
EPS 2 -12 17 - 19 13.2 16.3 18
Distribution rate - - - 47.4% 75.8% 67.5% 66.7%
Net sales 1 524.9 - 1,264 1,411 1,696 1,758 1,839
EBITDA 1 57.59 - 461.2 631.3 686 711 748
EBIT 1 -83.52 - 292.8 424.6 463 479 506
Net income 1 -171.8 244.1 - 280.5 405 261 288
Net Debt 1 1,790 - 1,086 1,968 1,045 1,050 1,036
Reference price 2 109.75 207.00 224.05 370.00 320.05 320.05 320.05
Nbr of stocks (in thousands) 14,327 14,327 14,327 14,327 16,012 - -
Announcement Date 4/29/22 4/30/24 4/28/25 5/6/26 - - -
1MAD in Million2MAD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24.25x3.64x8.99x3.12% 542M
16.29x2.91x8.27x4.92% 13.14B
13.04x3.12x8.71x3.98% 5.26B
15.36x5.17x10.29x2.54% 5.06B
18.61x3.88x9.87x1.18% 4.38B
14.54x1.98x8.2x3.07% 4.41B
17.07x1.69x7.3x3.54% 2.75B
17.14x1.25x7.61x2.03% 2.43B
Average 17.04x 2.96x 8.65x 3.05% 4.75B
Weighted average by Cap. 16.00x 3.06x 8.67x 3.52%

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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