Company Valuation: VGP NV

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,589 2,123 2,866 1,949 2,688 2,173 - -
Change - -62.01% 34.96% -32% 37.96% -19.17% - -
Enterprise Value (EV) 1 6,748 3,792 4,644 3,514 4,524 4,409 4,578 4,701
Change - -43.8% 22.45% -24.33% 28.76% -2.54% 3.83% 2.69%
P/E 8.15x -14.2x 32.8x 6.79x 9.26x 7.26x 6.36x 6.15x
PBR 2.57x 0.79x 1.29x 0.81x 1.03x 0.7x 0.62x 0.55x
PEG - 0x -0x 0x 8.12x -0.99x 0.4x 1.83x
Capitalization / Revenue 126x 25x 25.2x 9.22x 10.9x 8.21x 7.54x 6.91x
EV / Revenue 152x 44.7x 40.8x 16.6x 18.3x 16.7x 15.9x 15x
EV / EBITDA 10.6x 271x 21.5x 9.91x 9.95x 20.7x 19.4x 17.1x
EV / EBIT 10.8x 583x 39.1x 11.1x 12.5x 11.2x 10.7x 11.9x
EV / FCF -9.4x -4.11x -131x 11.2x -7.66x 648x 51.5x 39x
FCF Yield -10.6% -24.3% -0.76% 8.95% -13.1% 0.15% 1.94% 2.56%
Dividend per Share 2 6.85 2.75 2.95 3.3 3.4 3.594 3.691 3.883
Rate of return 2.68% 3.53% 2.81% 4.62% 3.45% 5.02% 5.16% 5.42%
EPS 2 31.41 -5.49 3.2 10.52 10.64 9.862 11.26 11.64
Distribution rate 21.8% -50.1% 92.2% 31.4% 32% 36.4% 32.8% 33.3%
Net sales 1 44.26 84.78 113.7 211.3 247.4 264.8 288 314.3
EBITDA 1 634.1 13.99 215.9 354.5 454.7 213.4 236.4 275.5
EBIT 1 626.7 6.51 118.8 317.1 362.3 391.9 429.7 396.3
Net income 1 650.1 -122.5 87.29 287 290.4 307.8 356.8 372.2
Net Debt 1 1,159 1,669 1,778 1,565 1,836 2,236 2,405 2,528
Reference price 2 256.00 77.80 105.00 71.40 98.50 71.60 71.60 71.60
Nbr of stocks (in thousands) 21,833 27,291 27,291 27,291 27,291 30,348 - -
Announcement Date 2/23/22 2/23/23 2/22/24 2/20/25 2/19/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.35x4.89x13.14x3.3% 43.71B
18.19x3.99x16.05x1.35% 28.84B
8.21x1.5x7.93x4.36% 27.33B
5.51x0.67x1.4x9.07% 26.52B
14.34x3.09x14.81x2.51% 26.38B
10.67x2.16x9.19x3.93% 21.47B
7.9x0.88x3.19x2.83% 20.22B
13.51x6.49x17.07x1.61% 19.89B
16.86x9.52x17.92x4.86% 18.24B
Average 12.28x 3.69x 11.19x 3.76% 25.84B
Weighted average by Cap. 12.51x 3.59x 11.22x 3.75%

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

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