Company Valuation: Materialise NV

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,234 486.3 350.8 401.7 279.2 388.6 - -
Change - -60.57% -27.86% 14.49% -30.49% 39.17% - -
Enterprise Value (EV) 1 1,128 418.4 287.6 340.6 208.4 307.8 292.2 270.6
Change - -62.91% -31.25% 18.42% -38.82% 47.69% -5.06% -7.4%
P/E 91.3x -206x 54x 29.6x 36.4x 31.9x 23.8x 17.4x
PBR 5.12x 2.12x 1.48x 1.62x 1.09x 1.63x 1.53x 1.37x
PEG - 2x -0x 0x -0.8x 0.5x 0.7x 0.5x
Capitalization / Revenue 6x 2.1x 1.37x 1.51x 1.04x 1.4x 1.32x 1.22x
EV / Revenue 5.49x 1.8x 1.12x 1.28x 0.78x 1.11x 0.99x 0.85x
EV / EBITDA 34.7x 22x 9.16x 10.8x 6.43x 8.28x 6.72x 5.25x
EV / EBIT 92.3x -146x 51.2x 36.1x 23.3x 26.6x 16.8x 9.78x
EV / FCF 79.9x -168x 34.3x 67.1x 23x 20.2x 17.1x 12.5x
FCF Yield 1.25% -0.59% 2.92% 1.49% 4.35% 4.94% 5.85% 7.98%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.23 -0.04 0.11 0.23 0.13 0.2103 0.2826 0.387
Distribution rate - - - - - - - -
Net sales 1 205.4 232 256.1 266.8 267.6 278.3 294.8 318.4
EBITDA 1 32.5 19.01 31.4 31.48 32.39 37.16 43.47 51.58
EBIT 1 12.22 -2.872 5.619 9.432 8.936 11.57 17.41 27.68
Net income 1 13.15 -2.123 6.722 13.47 7.718 12.43 16.72 22.75
Net Debt 1 -105.5 -67.94 -63.18 -61.02 -70.8 -80.76 -96.33 -117.9
Reference price 2 20.989 8.234 5.939 6.800 4.727 6.715 6.715 6.715
Nbr of stocks (in thousands) 58,771 59,064 59,067 59,067 59,067 57,861 - -
Announcement Date 03/03/22 14/02/23 21/02/24 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.($)
31.93x1.11x8.28x-.--% 446M
25.27x9.33x15.27x0.8% 3,696B
115.48x50.26x81.57x-.--% 424B
421.62x17.95x70.95x-.--% 84.74B
58.42x12.34x26.03x-.--% 77.32B
95.96x8.21x20.81x-.--% 73.05B
34.16x1.65x13.21x-.--% 62.03B
194.58x6.21x24x-.--% 48.74B
114.32x4.52x21.95x-.--% 39.38B
28.66x5.93x28.48x-.--% 37.82B
Average 112.04x 11.75x 31.05x 0.08% 454.31B
Weighted average by Cap. 45.51x 13.13x 23.00x 0.65%

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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