Company Valuation: Azelis Group N.V.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,899 6,202 5,184 4,440 2,276 2,927 - -
Change - 5.13% -16.41% -14.36% -48.73% 28.59% - -
Enterprise Value (EV) 1 6,770 7,369 6,475 5,980 3,887 4,411 4,303 4,184
Change - 8.85% -12.13% -7.65% -35% 13.47% -2.44% -2.77%
P/E 87x 29.1x 30x 25.7x 20.3x 17.8x 16.3x 15.3x
PBR 2.65x 2.6x 2.06x 1.61x 0.84x 1.04x 0.99x 0.95x
PEG - 0x -1.6x - -0.5x 0.4x 1.81x 2.25x
Capitalization / Revenue 2.08x 1.5x 1.24x 1.05x 0.55x 0.69x 0.67x 0.64x
EV / Revenue 2.39x 1.79x 1.55x 1.42x 0.95x 1.04x 0.98x 0.91x
EV / EBITDA 23.5x 15.2x 12.9x 11.7x 7.9x 9.1x 8.67x 8.06x
EV / EBIT 32.6x 19x 16.7x 15.5x 12.4x 12.4x 11.8x 11.1x
EV / FCF 94.5x 21x 12.7x 17.5x 8.79x 20.7x 17.7x 15.5x
FCF Yield 1.06% 4.75% 7.87% 5.72% 11.4% 4.83% 5.66% 6.46%
Dividend per Share 2 0.03 0.29 0.22 0.23 0.226 0.2235 0.2434 0.2655
Rate of return 0.12% 1.09% 0.99% 1.21% 2.42% 1.86% 2.02% 2.21%
EPS 2 0.29 0.91 0.74 0.74 0.46 0.6771 0.7379 0.7881
Distribution rate 10.3% 31.9% 29.7% 31.1% 49.1% 33% 33% 33.7%
Net sales 1 2,836 4,125 4,176 4,214 4,111 4,229 4,380 4,584
EBITDA 1 287.8 484.7 500.6 512.2 492 484.6 496.2 519
EBIT 1 207.8 388.4 386.9 385.9 313.3 354.5 363.9 378.6
Net income 1 67.76 213.2 177.7 180.7 111.2 167.7 183.3 194.1
Net Debt 1 871.1 1,168 1,291 1,540 1,611 1,483 1,376 1,257
Reference price 2 25.22 26.52 22.18 19.00 9.35 12.03 12.03 12.03
Nbr of stocks (in thousands) 233,846 233,846 233,723 233,670 243,450 243,316 - -
Announcement Date 15/03/22 02/03/23 07/03/24 20/02/25 19/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.69x0.99x15.55x2.58% 112B
15.77x1.21x15.07x2.01% 97.73B
14.07x1.26x19.54x2.78% 90.43B
12.71x1.51x16.41x2.32% 53.83B
12.76x1.17x19.27x2.48% 50.01B
15.94x0.64x9.78x1.75% 44.02B
20.88x1.16x10.69x0.91% 40.61B
58.29x3.23x21.08x0.04% 39.87B
18.18x0.9x9.22x2.96% 11.3B
Average 20.37x 1.34x 15.18x 1.98% 59.99B
Weighted average by Cap. 18.27x 1.29x 16.00x 2.1%

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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  5. Valuation Azelis Group N.V.