Company Valuation: Valmet Oyj

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,638 4,634 4,808 4,297 5,219 5,214 - -
Change - -17.81% 3.76% -10.65% 21.48% -0.11% - -
Enterprise Value (EV) 1 5,597 5,165 5,860 5,359 6,145 6,479 6,257 6,070
Change - -7.72% 13.46% -8.56% 14.68% 5.44% -3.43% -2.99%
P/E 19.1x 13.1x 13.5x 15.3x 18.6x 15.9x 13.7x 12x
PBR 4.25x 1.86x 1.87x 1.65x 2.02x 2.01x 1.91x 1.82x
PEG - -4.32x 12.96x -0.7x - 0.9x 0.9x 0.9x
Capitalization / Revenue 1.43x 0.91x 0.87x 0.8x 1x 0.98x 0.96x 0.92x
EV / Revenue 1.42x 1.02x 1.06x 1x 1.18x 1.21x 1.16x 1.07x
EV / EBITDA 11.2x 8.08x 8.34x 8.02x 9.5x 9.16x 8.09x 7.26x
EV / EBIT 14x 11.8x 11.6x 11.9x 14x 12.4x 10.8x 9.54x
EV / FCF 14.5x -68x 25.8x 12x 12.9x 19.4x 14.1x 12.3x
FCF Yield 6.88% -1.47% 3.87% 8.34% 7.78% 5.16% 7.1% 8.15%
Dividend per Share 2 1.2 1.3 1.35 1.35 1.35 1.292 1.458 1.533
Rate of return 3.18% 5.17% 5.17% 5.79% 4.77% 4.56% 5.15% 5.42%
EPS 2 1.98 1.92 1.94 1.52 1.52 1.778 2.062 2.352
Distribution rate 60.6% 67.7% 69.6% 88.8% 88.8% 72.7% 70.7% 65.2%
Net sales 1 3,935 5,074 5,532 5,359 5,197 5,339 5,411 5,661
EBITDA 1 500 639 703 668 647 707 773.8 835.7
EBIT 1 399 436 507 449 438 520.5 577.5 636.3
Net income 1 296 338 357 280 280 328.2 380.2 433.5
Net Debt 1 -41 531 1,052 1,062 926 1,266 1,043 856.3
Reference price 2 37.72 25.16 26.11 23.33 28.33 28.30 28.30 28.30
Nbr of stocks (in thousands) 149,471 184,185 184,161 184,165 184,232 184,234 - -
Announcement Date 2/3/22 2/2/23 2/7/24 2/13/25 2/6/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.12x1.78x9.86x0.85% 19.27B
30.42x6.19x19.44x1.14% 17.35B
82.64x7.16x41.8x0.33% 8.45B
22.44x2.59x16.02x1.28% 7.94B
47.87x4.97x19.49x - 6.14B
15.92x1.21x9.16x4.56% 5.98B
16.27x2.47x9.06x2.46% 4.02B
10.84x0.51x4.66x2.83% 3.99B
7.24x1.02x4.38x4.95% 3.47B
Average 27.75x 3.10x 14.88x 2.3% 8.51B
Weighted average by Cap. 29.21x 3.60x 16.35x 1.63%

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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