Company Valuation: Saipem SpA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,826 2,250 2,933 4,911 4,746 8,706 - -
Change - 23.22% 30.38% 67.43% -3.35% 83.42% - -
Enterprise Value (EV) 1 3,367 2,514 3,194 4,888 5,244 8,417 7,994 7,351
Change - -25.34% 27.07% 53.03% 7.3% 60.49% -5.03% -8.04%
P/E -0.76x -10.8x 16.4x 16.4x 15.6x 20x 15.3x 14.5x
PBR 5.72x 1.09x 1.23x 1.98x 1.84x 3.15x 2.86x 2.76x
PEG - 0.1x -0x 0.2x 11.96x 0.4x 0.5x 2.52x
Capitalization / Revenue 0.27x 0.23x 0.25x 0.34x 0.31x 0.56x 0.55x 0.56x
EV / Revenue 0.49x 0.25x 0.27x 0.34x 0.34x 0.54x 0.5x 0.48x
EV / EBITDA -2.82x 4.22x 3.45x 3.68x 3.06x 4.3x 3.79x 3.5x
EV / EBIT -1.97x 16.8x 7.31x 8.07x 7.72x 9.68x 7.56x 6.74x
EV / FCF -17.4x -4.8x 12.9x 6.46x 4.23x 7.89x 7.03x 6.24x
FCF Yield -5.73% -20.8% 7.76% 15.5% 23.7% 12.7% 14.2% 16%
Dividend per Share 2 - - - - 0.17 0.1606 0.1709 0.1761
Rate of return - - - - 7.01% 3.58% 3.81% 3.93%
EPS 2 -116.2 -0.1047 0.0897 0.1533 0.1553 0.2247 0.2934 0.3103
Distribution rate - - - - 109% 71.5% 58.2% 56.8%
Net sales 1 6,875 9,980 11,874 14,549 15,497 15,673 15,841 15,447
EBITDA 1 -1,192 595 926 1,329 1,716 1,959 2,108 2,099
EBIT 1 -1,713 150 437 606 679 869.5 1,058 1,091
Net income 1 -2,467 -209 179 306 310 463.9 610.7 642.4
Net Debt 1 1,541 264 261 -23 498 -289.1 -712.4 -1,355
Reference price 2 87.857 1.128 1.470 2.509 2.425 4.487 4.487 4.487
Nbr of stocks (in thousands) 20,779 1,995,110 1,995,144 1,957,188 1,957,283 1,940,283 - -
Announcement Date 2/24/22 2/28/23 2/28/24 2/25/25 2/25/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.39x2.17x9.77x2.45% 71.9B
21.65x2.09x11.83x1.6% 57.95B
14.93x1.52x8.28x1.96% 29.18B
22.22x2.36x11.73x0.31% 25.98B
33.86x6.34x11.45x2.9% 6.87B
23.48x0.8x7.61x1.89% 6.7B
15.59x1.44x6.78x1.19% 6.59B
19.93x5.64x9.8x2.49% 6.48B
7.68x1.45x5.42x3.4% 6.36B
Average 19.75x 2.65x 9.19x 2.02% 24.22B
Weighted average by Cap. 19.54x 2.23x 10.12x 1.89%

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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