Company Valuation: CMB.TECH NV

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,789 3,384 3,564 1,973 2,763 5,604 - -
Change - 89.13% 5.34% -44.66% 40.08% 102.84% - -
Enterprise Value (EV) 1 3,352 4,900 4,036 4,556 8,179 10,571 10,194 9,772
Change - 46.17% -17.63% 12.87% 79.52% 29.24% -3.56% -4.14%
P/E -5.28x 16.6x 4.13x 2.29x 15.6x 4.1x 11x 12.4x
PBR 0.91x 1.56x 1.51x 1.67x 1.05x 1.59x 1.56x 1.46x
PEG - -0x 0x 0.58x -0.2x 0x -0.2x -1.1x
Capitalization / Revenue 4.26x 3.96x 2.88x 2.1x 1.66x 2.6x 2.98x 2.84x
EV / Revenue 7.99x 5.73x 3.26x 4.85x 4.91x 4.91x 5.42x 4.96x
EV / EBITDA 69.3x 11.6x 4.91x 3.9x 8.67x 6.04x 7.95x 7.89x
EV / EBIT -11.3x 24.7x 6.72x 4.54x 14.7x 7.24x 12x 12.2x
EV / FCF -7.64x 55.2x 2.37x -20.4x -14x 8.92x 15x 16x
FCF Yield -13.1% 1.81% 42.3% -4.9% -7.12% 11.2% 6.69% 6.26%
Dividend per Share 2 0.12 0.12 2.34 - - 1.39 0.96 0.895
Rate of return 1.35% 0.72% 13.3% - - 7.2% 4.97% 4.63%
EPS 2 -1.68 1.01 4.27 4.44 0.61 4.71 1.75 1.557
Distribution rate -7.14% 11.9% 54.8% - - 29.5% 54.9% 57.5%
Net sales 1 419.8 854.7 1,237 940.2 1,666 2,152 1,882 1,970
EBITDA 1 48.35 421.1 821.7 1,169 942.9 1,750 1,282 1,238
EBIT 1 -296.6 198.2 600.7 1,002 555 1,461 847.3 804.1
Net income 1 -339.2 202.9 862.3 870.8 161.7 1,290 535.3 514.8
Net Debt 1 1,563 1,516 472.1 2,583 5,416 4,966 4,589 4,167
Reference price 2 8.87 16.77 17.65 10.16 9.52 19.31 19.31 19.31
Nbr of stocks (in thousands) 201,678 201,784 201,913 194,217 290,170 290,170 - -
Announcement Date 03/02/22 02/02/23 01/02/24 27/02/25 26/02/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
24x3.23x13x5.62% 110B
30.39x10.2x14.67x2.81% 91.92B
13.1x1.88x10.77x5.7% 84.91B
20.43x5.59x11.28x3.79% 69.94B
21.83x9.48x12.76x4.01% 66.03B
25.88x4.3x13.83x1.71% 62.48B
16.65x2.14x10.73x4.5% 60.4B
13.94x6.57x11.86x7.55% 61.06B
14.91x4.22x11.88x4.65% 33.84B
Average 20.13x 5.29x 12.31x 4.48% 71.13B
Weighted average by Cap. 20.91x 5.33x 12.43x 4.51%

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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