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 5,066 - -
Change - -17.81% 3.76% -10.65% 21.48% -2.93% - -
Enterprise Value (EV) 1 5,597 5,165 5,860 5,359 6,145 6,332 6,110 5,923
Change - -7.72% 13.46% -8.56% 14.68% 3.04% -3.51% -3.06%
P/E 19.1x 13.1x 13.5x 15.3x 18.6x 15.5x 13.3x 11.7x
PBR 4.25x 1.86x 1.87x 1.65x 2.02x 1.96x 1.86x 1.77x
PEG - -4.32x 12.96x -0.7x - 0.9x 0.8x 0.8x
Capitalization / Revenue 1.43x 0.91x 0.87x 0.8x 1x 0.95x 0.94x 0.89x
EV / Revenue 1.42x 1.02x 1.06x 1x 1.18x 1.19x 1.13x 1.05x
EV / EBITDA 11.2x 8.08x 8.34x 8.02x 9.5x 8.85x 7.9x 7.09x
EV / EBIT 14x 11.8x 11.6x 11.9x 14x 12x 10.6x 9.31x
EV / FCF 14.5x -68x 25.8x 12x 12.9x 18.9x 13.7x 12x
FCF Yield 6.88% -1.47% 3.87% 8.34% 7.78% 5.28% 7.28% 8.36%
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% 4.7% 5.3% 5.58%
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 1 500 639 703 668 647 715.4 773.8 835.7
EBIT 1 399 436 507 449 438 526 577.5 636.3
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 27.50 27.50 27.50
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.($)
30.61x5.34x19.37x0.84% 120B
34.36x5.4x20.49x1.56% 96.45B
42.65x8.64x25.3x-.--% 61.98B
26.86x3.07x17.77x0.78% 58.68B
39.24x6.1x26.94x1.98% 56.84B
26.91x4.95x17.32x2.23% 35.29B
29.71x3.96x14.96x0.11% 29.14B
20.65x1.76x12.72x2.27% 30.04B
20.66x3.57x11.42x1.48% 28.85B
Average 30.18x 4.76x 18.48x 1.25% 57.53B
Weighted average by Cap. 31.84x 5.16x 19.72x 1.16%

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