Company Valuation: Wavestone

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 685.9 920.8 886.8 1,378 1,192 998.1 - -
Change - 34.24% -3.69% 55.4% -13.53% -16.24% - -
Enterprise Value (EV) 1 654.1 860.5 859.7 1,359 1,166 1,006 815.9 735.8
Change - 31.55% -0.09% 58.06% -14.18% -13.76% -12.1% -9.81%
P/E 27.1x 18x 17.7x 20.7x 15.7x 13.7x 11.4x 10.3x
PBR 3.33x 3.58x 2.96x 2.11x 1.88x 1.61x 1.29x 1.16x
PEG - 0x -11.28x 2.6x 1.1x 1.69x 1.1x 1x
Capitalization / Revenue 1.64x 1.96x 1.67x 1.97x 1.26x 1.18x 1.02x 0.99x
EV / Revenue 1.57x 1.83x 1.62x 1.94x 1.24x 1.05x 0.83x 0.73x
EV / EBITDA 10.4x 10.6x 10.4x 12.4x 8.97x 7.57x 5.86x 4.84x
EV / EBIT 12.3x 11.5x 11.2x 13.4x 9.79x 8.39x 6.38x 5.25x
EV / FCF 9.33x 15.4x 23x 17x 13.8x 7.77x 9.83x 7.43x
FCF Yield 10.7% 6.49% 4.36% 5.89% 7.24% 12.9% 10.2% 13.5%
Dividend per Share 2 0.23 0.38 0.38 0.38 0.46 0.5 0.5199 0.5417
Rate of return 0.67% 0.83% 0.85% 0.68% 0.95% 1.09% 1.28% 1.33%
EPS 2 1.27 2.55 2.51 2.71 3.09 3.34 3.576 3.947
Distribution rate 18.1% 14.9% 15.1% 14% 14.9% 15% 14.5% 13.7%
Net sales 1 417.6 470.1 532.3 701.1 943.7 954.3 977.5 1,013
EBITDA 1 63 80.83 82.81 109.4 130 132.8 139.2 152.1
EBIT 1 53.28 74.8 77.04 101.3 119.1 119.9 127.9 140.3
Net income 1 25.38 51.03 50.07 58.2 75.56 81.99 87.73 96.63
Net Debt 1 -31.8 -60.33 -27.12 -19.27 -25.59 -121.4 -182.2 -262.3
Reference price 2 34.40 46.00 44.45 56.10 48.50 40.65 40.65 40.65
Nbr of stocks (in thousands) 19,940 20,017 19,951 24,564 24,570 24,554 - -
Announcement Date 6/1/21 5/31/22 5/31/23 6/3/24 6/2/25 6/3/26 - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
12.55x0.97x6.98x1.2% 1.14B
29.68x4.73x16.51x2.2% 288B
-92.02x14.54x84.19x-.--% 91.07B
10.56x1.16x6.08x4.57% 86.98B
13.49x2.45x9.1x6.14% 79.91B
19.36x5.09x12.56x2.94% 58.01B
13.92x2.03x8.51x5.59% 45.7B
19.35x1.55x9.76x1.48% 36.35B
20.15x1.48x9.46x0.98% 35.62B
15.91x2.04x9.47x5.43% 33.3B
Average 6.29x 3.61x 17.26x 3.05% 75.58B
Weighted average by Cap. 7.78x 4.69x 20.91x 2.94%

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