Company Valuation: Trees Corporation

Data adjusted to current consolidation scope
Fiscal Period: December 2018 2019 2020 2021 2022 2023
Market Cap 1 54.33 24.93 29.18 18.57 14.43 8.01
Change - -54.12% 17.06% -36.36% -22.3% -44.49%
Enterprise Value (EV) 1 51.65 27.13 33.19 26.67 34.39 24.92
Change - -47.46% 22.31% -19.64% 28.94% -27.53%
P/E -3.09x -1.62x -2.87x -1.72x -1.52x -1.11x
PBR 11.9x -9.09x 29.2x 2.3x 3.34x -7.93x
PEG - 0.1x 0.1x 0.1x 0.1x 0x
Capitalization / Revenue 11.8x 6.8x 4.1x 3.13x 1.07x 0.44x
EV / Revenue 11.2x 7.4x 4.66x 4.5x 2.56x 1.37x
EV / EBITDA -4.59x -3.1x -7.37x -11.1x -16.6x -8.04x
EV / EBIT -4.53x -3.06x -7.04x -9.2x -14.3x -6.27x
EV / FCF -147x 15.8x -5.3x -16.8x -23.9x 8.66x
FCF Yield -0.68% 6.33% -18.9% -5.94% -4.19% 11.5%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.4858 -0.3885 -0.1672 -0.1275 -0.0984 -0.0606
Distribution rate - - - - - -
Net sales 1 4.619 3.666 7.12 5.927 13.44 18.14
EBITDA 1 -11.26 -8.746 -4.502 -2.397 -2.077 -3.1
EBIT 1 -11.41 -8.862 -4.717 -2.898 -2.408 -3.975
Net income 1 -16.97 -12.46 -7.68 -8.869 -9.475 -7.082
Net Debt 1 -2.683 2.208 4.008 8.098 19.96 16.91
Reference price 2 1.5000 0.6311 0.4800 0.2190 0.1500 0.0675
Nbr of stocks (in thousands) 36,223 39,497 60,791 84,798 96,192 118,664
Announcement Date 3/8/19 5/14/20 4/1/21 3/25/22 4/17/23 4/10/24
1USD in Million2USD
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 1.85M
45.38x1.23x4.83x - 1.63B
76.54x0.41x5.39x - 216M
-8.66x1.29x4.99x - 187M
-2x1.07x5.82x - 93.3M
17.24x0.63x5.47x - 85.35M
Average 25.70x 0.93x 5.30x 369M
Weighted average by Cap. 40.77x 1.13x 4.97x

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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