Company Valuation: SGS SA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,837 16,107 13,370 16,937 17,587 18,017 - -
Change - -29.47% -16.99% 26.68% 3.84% 2.44% - -
Enterprise Value (EV) 1 24,528 18,930 16,209 19,607 20,153 21,014 20,535 20,391
Change - -22.82% -14.38% 20.97% 2.78% 4.27% -2.28% -0.7%
P/E 37.3x 27.3x 24.3x 29.4x 26.3x 24.6x 22x 20.5x
PBR 20.4x 23.5x 29.1x 21.4x 19.5x 13.3x 10.3x 8.46x
PEG - -7.16x -4.88x 8.79x 2.2x 3.38x 1.9x 2.75x
Capitalization / Revenue 3.57x 2.43x 2.02x 2.49x 2.53x 2.38x 2.23x 2.11x
EV / Revenue 3.83x 2.85x 2.45x 2.89x 2.9x 2.77x 2.55x 2.39x
EV / EBITDA 16.2x 12.7x 11.4x 13.3x 13.1x 12.5x 11.3x 10.6x
EV / EBIT 23.2x 18.5x 16.7x 18.9x 18.2x 17.2x 15.5x 14.3x
EV / FCF 38.6x 37.3x 25.5x 26.2x 24x 24.9x 21.4x 19.6x
FCF Yield 2.59% 2.68% 3.92% 3.81% 4.17% 4.02% 4.68% 5.09%
Dividend per Share 2 3.2 3.2 3.2 3.2 3.2 3.187 3.264 3.369
Rate of return 2.63% 3.72% 4.41% 3.52% 3.52% 3.5% 3.58% 3.7%
EPS 2 3.272 3.147 2.99 3.09 3.46 3.712 4.149 4.458
Distribution rate 97.8% 102% 107% 104% 92.5% 85.9% 78.7% 75.6%
Net sales 1 6,405 6,642 6,622 6,794 6,945 7,585 8,064 8,530
EBITDA 1 1,515 1,489 1,424 1,478 1,539 1,688 1,810 1,925
EBIT 1 1,055 1,023 971 1,040 1,108 1,221 1,326 1,427
Net income 1 613 588 553 581 668 728.9 830 902.7
Net Debt 1 1,691 2,823 2,839 2,670 2,566 2,997 2,518 2,374
Reference price 2 121.88 86.00 72.54 90.88 90.86 91.18 91.18 91.18
Nbr of stocks (in thousands) 187,376 187,292 184,309 186,371 193,566 197,600 - -
Announcement Date 1/27/22 1/26/23 1/26/24 2/11/25 2/11/26 - - -
1CHF in Million2CHF
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
24.52x2.77x12.43x3.5% 22.22B
26.56x4.61x16.92x0.78% 14.91B
20.72x3.06x12.53x1.3% 3.71B
12.71x - - 2.42% 2.1B
-33.64x1.48x9.56x-.--% 2.05B
22.65x - - 2.18% 1.62B
37.88x - - - 1.31B
Average 15.92x 2.98x 12.86x 1.7% 6.84B
Weighted average by Cap. 22.15x 3.37x 13.86x 2.21%

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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