Company Valuation: Spirent Communications plc

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Market Cap 1 2,034 2,197 2,275 1,902 894 1,276
Change - 8.03% 3.54% -16.39% -53% 42.7%
Enterprise Value (EV) 1 1,884 1,984 2,130 1,715 807.3 1,154
Change - 5.34% 7.35% -19.5% -52.92% 42.98%
P/E 26.4x 26.3x 25.7x 19.2x 36.9x 99.8x
PBR 5.05x 4.95x 5.07x 4.06x 2.39x 3.25x
PEG - 3.08x 4.25x 1.5x -0.5x -2.1x
Capitalization / Revenue 4.04x 4.21x 3.95x 3.13x 1.88x 2.77x
EV / Revenue 3.74x 3.8x 3.7x 2.82x 1.7x 2.51x
EV / EBITDA 17.9x 17.6x 16.9x 12.9x 16.5x 25.4x
EV / EBIT 21.3x 20x 19.5x 14.6x 24.3x 36.3x
EV / FCF 21.4x 22.7x 29.6x 16.9x 34.2x 18.5x
FCF Yield 4.68% 4.41% 3.38% 5.92% 2.92% 5.41%
Dividend per Share 2 0.0539 0.0604 0.0676 0.0757 0.0276 -
Rate of return 1.62% 1.68% 1.81% 2.41% 1.76% -
EPS 2 0.1263 0.1371 0.1454 0.1636 0.0426 0.0222
Distribution rate 42.7% 44.1% 46.5% 46.3% 64.8% -
Net sales 1 503.6 522.4 576 607.5 474.3 460.2
EBITDA 1 105.1 112.6 126.4 133.4 48.8 45.5
EBIT 1 88.3 99 109 117.1 33.2 31.8
Net income 1 78 84.4 89.2 99.9 25.2 12.9
Net Debt 1 -150.2 -213 -145 -187.5 -86.7 -121.5
Reference price 2 3.331 3.604 3.740 3.135 1.571 2.216
Nbr of stocks (in thousands) 610,642 609,642 608,342 606,742 569,246 575,746
Announcement Date 3/24/20 3/24/21 3/30/22 4/3/23 3/27/24 5/21/25
1USD in Million2USD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 1.56B
37.05x7.74x19.99x1.38% 475B
52.1x18.48x37.1x-.--% 250B
22.46x0.9x15.85x2.64% 194B
31.33x9.86x24.3x0.33% 154B
33.86x6.55x18.72x1% 77.26B
166.13x21.38x62.7x-.--% 63.84B
30.93x7.02x23.49x1.33% 59.72B
74.45x8.67x40.04x-.--% 54.86B
39.31x2.07x13.44x1.83% 53.12B
Average 54.18x 9.19x 28.40x 0.94% 138.24B
Weighted average by Cap. 44.18x 9.31x 25.58x 1.06%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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