Company Valuation: CEAT Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 37,691 58,659 108,315 116,533 131,153 149,190 - -
Change - 55.63% 84.65% 7.59% 12.55% 13.75% - -
Enterprise Value (EV) 1 58,421 78,980 124,013 135,284 160,828 182,365 181,515 180,646
Change - 35.19% 57.02% 9.09% 18.88% 13.39% -0.47% -0.48%
P/E 52.9x 31.5x 16.9x 24.7x 18.8x 26.5x 15.6x 13x
PBR 1.15x 1.7x 2.68x 2.67x 2.6x 2.74x 2.39x 2.07x
PEG - 0x 0x -0.9x 0.4x -1.4x 0.2x 0.7x
Capitalization / Revenue 0.4x 0.52x 0.91x 0.88x 0.84x 0.8x 0.73x 0.66x
EV / Revenue 0.62x 0.7x 1.04x 1.02x 1.03x 0.98x 0.88x 0.8x
EV / EBITDA 3.42x 8.11x 7.51x 9.18x 7.86x 9.47x 7.14x 6.32x
EV / EBIT 21.3x 15.7x 10.8x 14.8x 11.9x 16.4x 10.9x 9.41x
EV / FCF -17.2x 24.1x 14.5x 90.6x 25.2x 57.8x 25.9x 24.2x
FCF Yield -5.82% 4.15% 6.87% 1.1% 3.97% 1.73% 3.86% 4.14%
Dividend per Share 2 3 12 30 30 35 28.94 39.12 41
Rate of return 0.32% 0.83% 1.12% 1.04% 1.08% 0.78% 1.06% 1.11%
EPS 2 17.6 46.02 158.9 116.8 172.8 139.4 236.5 282.9
Distribution rate 17% 26.1% 18.9% 25.7% 20.3% 20.8% 16.5% 14.5%
Net sales 1 93,634 113,149 119,435 132,179 156,780 185,915 205,267 226,496
EBITDA 1 17,098 9,738 16,522 14,741 20,472 19,249 25,408 28,603
EBIT 1 2,746 5,045 11,434 9,114 13,498 11,152 16,674 19,207
Net income 1 712 1,862 6,426 4,726 6,980 5,374 9,537 11,444
Net Debt 1 20,730 20,321 15,698 18,751 29,675 33,175 32,325 31,456
Reference price 2 931.80 1,450.15 2,677.75 2,880.90 3,242.35 3,688.25 3,688.25 3,688.25
Nbr of stocks (in thousands) 40,450 40,450 40,450 40,450 40,450 40,450 - -
Announcement Date 05/05/22 04/05/23 02/05/24 29/04/25 28/04/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
26.53x0.98x9.49x0.78% 1.57B
14.39x1.24x5.34x3.98% 8.32B
6.55x0.55x3.47x4.38% 6.15B
26.06x1.59x12.17x0.18% 5.82B
29.47x3.65x17.35x0.73% 4.88B
21.93x1.21x7.87x3.65% 3.1B
16.88x0.98x7.77x1.44% 2.95B
14.62x0.97x7.36x2.66% 2.41B
9.33x - - 5.18% 2.16B
6.47x0.68x3.64x - 1.65B
Average 17.22x 1.32x 8.27x 2.55% 3.9B
Weighted average by Cap. 17.45x 1.42x 8.34x 2.65%

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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  4. Valuation CEAT Limited