Company Valuation: Tubacex, S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 185.1 241.6 422.7 395.8 409.6 303.2 - -
Change - 30.54% 74.99% -6.36% 3.48% -25.97% - -
Enterprise Value (EV) 1 521.3 528.7 703.4 650.8 754.4 668.4 604.9 586.6
Change - 1.42% 33.05% -7.48% 15.91% -11.4% -9.49% -3.03%
P/E -5.78x 12.5x 12.1x 18.1x -13.3x 41.3x 12.4x 8.08x
PBR 0.94x 1.09x 1.76x 1.09x 1.4x 1.12x 0.97x 1x
PEG - -0x 0.1x -0.5x 0x -0x 0x 0.2x
Capitalization / Revenue 0.54x 0.34x 0.5x 0.52x 0.57x 0.44x 0.35x 0.34x
EV / Revenue 1.52x 0.74x 0.83x 0.85x 1.05x 0.96x 0.7x 0.65x
EV / EBITDA 38.9x 5.72x 5.62x 6.08x 7.13x 7.51x 4.73x 3.75x
EV / EBIT -16.8x 11.9x 8.71x 10.2x 12.9x 19x 8.45x 5.83x
EV / FCF -10.3x 8.75x 20.2x -6.29x -9.46x -56.6x 32.9x 10.4x
FCF Yield -9.72% 11.4% 4.94% -15.9% -10.6% -1.77% 3.04% 9.61%
Dividend per Share 2 - - - - - 0.0247 0.0915 0.1288
Rate of return - - - - - 1% 3.69% 5.19%
EPS 2 -0.26 0.16 0.29 0.18 -0.25 0.06 0.2007 0.307
Distribution rate - - - - - 41.2% 45.6% 41.9%
Net sales 1 341.9 714.7 852.4 767.5 719.3 693 858.4 903.9
EBITDA 1 13.41 92.35 125.2 107 105.8 89 127.9 156.4
EBIT 1 -31.12 44.45 80.74 63.52 58.3 35.11 71.55 100.7
Net income 1 -32.21 20.23 36.33 22.85 -31.28 -0.7656 27.48 40.87
Net Debt 1 336.2 287.1 280.7 255 344.8 365.2 301.7 283.4
Reference price 2 1.502 1.998 3.500 3.255 3.335 2.480 2.480 2.480
Nbr of stocks (in thousands) 123,202 120,906 120,777 121,607 122,815 122,267 - -
Announcement Date 2/24/22 2/24/23 2/29/24 2/27/25 2/26/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
12.85x1.46x7.62x0.91% 55.73B
16.62x0.93x7.59x0.86% 55.07B
13.74x1.5x8.7x0.91% 33.54B
13.22x1.17x7.1x2.27% 24.12B
12.32x0.78x6.96x3.47% 23.08B
29.83x5.71x19.44x0.2% 19.82B
11.86x0.56x5.35x3.1% 17.69B
13.77x4.11x10.7x0.05% 10.94B
14.55x0.95x7.17x2.67% 10.72B
Average 15.42x 1.91x 8.96x 1.61% 27.86B
Weighted average by Cap. 15.17x 1.63x 8.54x 1.4%

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

-40%: Exceptional extension
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