Projected Income Statement: OPAP

Forecast Balance Sheet: OPAP

Fiscal Period: December 2025 2026 2027 2028
Net Debt 1 - 6,823 6,700 6,423
Change - - -1.8% -4.13%
Announcement Date 19/03/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: OPAP

Fiscal Period: December 2026 2027 2028
CAPEX 1 240 201 208
Change - -16.25% 3.48%
Free Cash Flow (FCF) 1 702 1,064 1,180
Change - 51.5% 10.95%
Announcement Date - - -
1EUR in Million
Estimates

Forecast Financial Ratios: OPAP

Fiscal Period: December 2025 2026 2027 2028

Profitability

    
EBITDA Margin (%) - 17.51% 17.88% 18.15%
EBIT Margin (%) - 14.18% 17.06% 17.39%
EBT Margin (%) - 8.97% 10.53% 11.57%
Net margin (%) 8.14% 5.94% 6.29% 7.03%
FCF margin (%) - 6.76% 9.62% 10.12%
FCF / Net Income (%) - 113.81% 153.08% 143.99%

Profitability

    
ROA - 7.43% 7.76% 8.87%
ROE - 186% 38% 45%

Financial Health

    
Leverage (Debt/EBITDA) - 3.75x 3.39x 3.04x
Debt / Free cash flow - 9.72x 6.3x 5.44x

Capital Intensity

    
CAPEX / Current Assets (%) - 2.31% 1.82% 1.78%
CAPEX / EBITDA (%) - 13.2% 10.17% 9.83%
CAPEX / FCF (%) - 34.19% 18.9% 17.63%

Items per share

    
Cash flow per share 1 - - - -
Change - - - -
Dividend per Share 1 - 1 1.017 1.051
Change - - 1.67% 3.36%
Book Value Per Share 1 - -3.164 -1.68 -1.121
Change - - 46.9% 33.28%
EPS 1 - 0.5664 0.7955 0.996
Change - - 40.45% 25.19%
Nbr of stocks (in thousands) - 794,759 794,759 794,759
Announcement Date - - - -
1EUR
Estimates
2026 *2027 *
P/E Ratio 24.6x 17.5x
PBR -4.4x -8.29x
EV / Sales 1.72x 1.61x
Yield 7.18% 7.3%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
-
Investor
-
Global
-
Quality
-
ESG MSCI
AA
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
3
Last Close Price
13.93EUR
Average target price
14.57EUR
Spread / Average Target
+4.57%

Annual profits - Rate of surprise

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