Company Valuation: PNE AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 645 1,630 1,056 848.8 773.7 562.3 - -
Change - 152.66% -35.18% -19.66% -8.84% -27.33% - -
Enterprise Value (EV) 1 1,014 2,081 1,742 1,658 1,492 1,219 1,167 1,161
Change - 105.26% -16.31% -4.82% -9.98% -18.33% -4.27% -0.49%
P/E 25.6x 107x -106x -61.6x -18x 27.9x 23.9x 27.9x
PBR 2.81x 6.86x 4.99x 4.29x 4.97x 3.16x 2.88x 2.59x
PEG - -2.7x 1x -1.6x -0x -0x 1.5x -2x
Capitalization / Revenue 5.48x 12.9x 8.69x 4.03x 3.36x 1.76x 1.81x 1.98x
EV / Revenue 8.61x 16.5x 14.3x 7.88x 6.48x 3.82x 3.76x 4.08x
EV / EBITDA 31x 58.8x 43.6x 24x 27x 11.9x 11.7x 12.7x
EV / EBIT 109x 337x 304x 47.2x 116x 19.5x 19.3x 21.7x
EV / FCF -11.4x -19.9x -9.09x -7.85x -9.7x 15.3x 18x 108x
FCF Yield -8.78% -5.03% -11% -12.7% -10.3% 6.52% 5.55% 0.93%
Dividend per Share 2 0.04 0.04 0.04 0.04 - 0.04 0.04 0.04
Rate of return 0.47% 0.19% 0.29% 0.36% - 0.54% 0.54% 0.54%
EPS 2 0.33 0.2 -0.13 -0.18 -0.56 0.2633 0.3067 0.2633
Distribution rate 12.1% 20% -30.8% -22.2% - 15.2% 13% 15.2%
Net sales 1 117.7 126.2 121.5 210.4 230.2 319.2 310.5 284.3
EBITDA 1 32.7 35.4 39.9 69 55.3 102.6 99.32 91.31
EBIT 1 9.265 6.173 5.738 35.1 12.9 62.38 60.43 53.45
Net income 1 25.13 14.9 -9.554 -13.4 -47.4 26.59 23.27 19.92
Net Debt 1 368.8 451.2 685.1 808.9 718.6 656.5 604.5 598.7
Reference price 2 8.450 21.350 13.840 11.080 10.100 7.340 7.340 7.340
Nbr of stocks (in thousands) 76,337 76,337 76,337 76,603 76,603 76,603 - -
Announcement Date 30/03/22 29/03/23 27/03/24 27/03/25 25/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
27.04x3.77x11.71x0.56% 634M
22.45x1.26x9.3x0.8% 32.84B
18.34x1.09x9.06x1.42% 9.95B
24.73x2.81x16.2x1.01% 6.69B
16.48x3.72x14.62x0.47% 3.54B
17.57x0.54x10.31x3.57% 3.04B
17.88x - - 0.81% 1.65B
Average 20.64x 2.20x 11.87x 1.23% 8.33B
Weighted average by Cap. 21.31x 1.55x 10.48x 1.05%

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