Company Valuation: Generali

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 29,338 25,706 29,467 41,489 53,739 62,687 - -
Change - -12.38% 14.63% 40.8% 29.52% 16.65% - -
Enterprise Value (EV) 1 29,338 67,116 66,483 78,884 95,273 104,202 103,883 103,520
Change - 128.77% -0.94% 18.65% 20.78% 9.37% -0.31% -0.35%
P/E 10.5x 9.03x 7.86x 11.3x 13.2x 13.1x 12.2x 11.5x
PBR 1x 1.59x 1.04x 1.37x 1.71x 1.83x 1.71x 1.61x
PEG - 2.68x 0.2x -27.46x 1.1x 0.8x 1.72x 1.88x
Capitalization / Revenue 0.39x 0.32x 0.36x 0.44x 0.55x 0.61x 0.58x 0.55x
EV / Revenue 0.39x 0.82x 0.81x 0.83x 0.97x 1.01x 0.96x 0.92x
EV / EBITDA - - - - - 1.02x 0.98x 0.94x
EV / EBIT 5.01x 10.3x 9.66x 10.8x 11.9x 11.9x 11.3x 10.7x
EV / FCF 1.65x 6.78x 55.2x 5.33x 4.95x 25.4x 21.8x 21.5x
FCF Yield 60.7% 14.7% 1.81% 18.8% 20.2% 3.93% 4.58% 4.66%
Dividend per Share 2 1.07 1.16 1.28 1.43 1.64 1.842 2.01 2.139
Rate of return 5.74% 6.98% 6.7% 5.24% 4.59% 4.44% 4.85% 5.16%
EPS 2 1.78 1.84 2.43 2.42 2.711 3.169 3.393 3.601
Distribution rate 60.1% 63% 52.7% 59.1% 60.5% 58.1% 59.2% 59.4%
Net sales 1 75,825 81,538 82,466 95,190 98,124 103,586 108,174 113,087
EBITDA 1 - - - - - 102,140 106,475 110,666
EBIT 1 5,852 6,509 6,879 7,295 8,004 8,740 9,208 9,702
Net income 1 2,847 2,912 3,747 3,724 4,172 4,785 5,092 5,385
Net Debt 1 - 41,410 37,016 37,395 41,534 41,515 41,196 40,833
Reference price 2 18.63 16.62 19.10 27.27 35.75 41.46 41.46 41.46
Nbr of stocks (in thousands) 1,574,760 1,547,172 1,542,345 1,521,425 1,503,178 1,511,997 - -
Announcement Date 15/03/22 14/03/23 12/03/24 12/03/25 12/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
4.26x1.43x - 4.03% 141B
6.36x4.84x - 5.41% 135B
12.39x - - 2.9% 96.64B
10.16x0.88x - 5.99% 95.44B
13.21x1.01x1.03x4.4% 71.26B
14.74x - - 3.2% 70.58B
13.73x - - 3.73% 65.96B
12.2x - - 2.48% 59.96B
15.69x2.93x - 2.2% 55.74B
Average 11.42x 2.22x 1.03x 3.81% 87.87B
Weighted average by Cap. 10.26x 2.36x 1.03x 4.05%

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