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 65,122 - -
Change - -12.38% 14.63% 40.8% 29.52% 21.18% - -
Enterprise Value (EV) 1 29,338 67,116 66,483 78,884 95,273 106,637 106,317 105,955
Change - 128.77% -0.94% 18.65% 20.78% 11.93% -0.3% -0.34%
P/E 10.5x 9.03x 7.86x 11.3x 13.2x 13.6x 12.7x 12x
PBR 1x 1.59x 1.04x 1.37x 1.71x 1.9x 1.78x 1.67x
PEG - 2.68x 0.2x -27.46x 1.1x 0.8x 1.74x 2.04x
Capitalization / Revenue 0.39x 0.32x 0.36x 0.44x 0.55x 0.63x 0.6x 0.58x
EV / Revenue 0.39x 0.82x 0.81x 0.83x 0.97x 1.03x 0.99x 0.94x
EV / EBITDA - - - - - 1.04x 1x 0.96x
EV / EBIT 5.01x 10.3x 9.66x 10.8x 11.9x 12.3x 11.6x 11x
EV / FCF 1.65x 6.78x 55.2x 5.33x 4.95x 26x 22.3x 22x
FCF Yield 60.7% 14.7% 1.81% 18.8% 20.2% 3.84% 4.47% 4.55%
Dividend per Share 2 1.07 1.16 1.28 1.43 1.64 1.841 2.015 2.146
Rate of return 5.74% 6.98% 6.7% 5.24% 4.59% 4.27% 4.68% 4.98%
EPS 2 1.78 1.84 2.43 2.42 2.711 3.157 3.388 3.587
Distribution rate 60.1% 63% 52.7% 59.1% 60.5% 58.3% 59.5% 59.8%
Net sales 1 75,825 81,538 82,466 95,190 98,124 103,398 107,932 112,843
EBITDA 1 - - - - - 102,140 106,475 110,666
EBIT 1 5,852 6,509 6,879 7,295 8,004 8,696 9,172 9,654
Net income 1 2,847 2,912 3,747 3,724 4,172 4,758 5,077 5,355
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 43.07 43.07 43.07
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.($)
6.35x4.84x - 5.41% 135B
10.67x0.92x - 5.71% 101B
12.44x - - 2.89% 96.87B
13.85x1.04x1.05x4.21% 75.33B
15.1x - - 3.12% 72.88B
12.76x - - 2.4% 62.09B
17.72x - - 2.88% 59.1B
16.04x3.01x - 2.15% 57.01B
12.12x - - 4.56% 51.01B
Average 13.00x 2.45x 1.05x 3.7% 78.93B
Weighted average by Cap. 12.19x 2.70x 1.05x 3.95%

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