Company Valuation: Saipem SpA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,826 2,250 2,933 4,911 4,746 8,824 - -
Change - 23.22% 30.38% 67.43% -3.35% 85.92% - -
Enterprise Value (EV) 1 3,367 2,514 3,194 4,888 5,244 8,424 7,988 7,348
Change - -25.34% 27.07% 53.03% 7.3% 60.63% -5.17% -8.01%
P/E -0.76x -10.8x 16.4x 16.4x 15.6x 20.3x 15.1x 14.2x
PBR 5.72x 1.09x 1.23x 1.98x 1.84x 3.3x 3.02x 2.76x
PEG - 0.1x -0x 0.2x 11.96x 0.5x 0.4x 2.15x
Capitalization / Revenue 0.27x 0.23x 0.25x 0.34x 0.31x 0.57x 0.56x 0.57x
EV / Revenue 0.49x 0.25x 0.27x 0.34x 0.34x 0.54x 0.51x 0.48x
EV / EBITDA -2.82x 4.22x 3.45x 3.68x 3.06x 4.34x 3.79x 3.45x
EV / EBIT -1.97x 16.8x 7.31x 8.07x 7.72x 9.78x 7.48x 6.53x
EV / FCF -17.4x -4.8x 12.9x 6.46x 4.23x 7.48x 6.88x 6.18x
FCF Yield -5.73% -20.8% 7.76% 15.5% 23.7% 13.4% 14.5% 16.2%
Dividend per Share 2 - - - - 0.17 0.1663 0.1718 0.1812
Rate of return - - - - 7.01% 3.66% 3.78% 3.98%
EPS 2 -116.2 -0.1047 0.0897 0.1533 0.1553 0.2244 0.301 0.3209
Distribution rate - - - - 109% 74.1% 57.1% 56.5%
Net sales 1 6,875 9,980 11,874 14,549 15,497 15,571 15,749 15,426
EBITDA 1 -1,192 595 926 1,329 1,716 1,939 2,108 2,132
EBIT 1 -1,713 150 437 606 679 861.5 1,067 1,126
Net income 1 -2,467 -209 179 306 310 455.5 616.5 660
Net Debt 1 1,541 264 261 -23 498 -400.4 -836 -1,476
Reference price 2 87.857 1.128 1.470 2.509 2.425 4.548 4.548 4.548
Nbr of stocks (in thousands) 20,779 1,995,110 1,995,144 1,957,188 1,957,283 1,940,283 - -
Announcement Date 24/02/22 28/02/23 28/02/24 25/02/25 25/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
20.27x0.54x4.34x3.66% 10.06B
18.4x2.14x9.75x2.48% 70.91B
21.15x2.06x11.5x1.62% 57.12B
14.89x1.52x8.26x1.97% 29.21B
23.96x2.56x12.7x0.28% 28.06B
34.19x6.42x11.61x2.87% 6.94B
21.33x5.93x10.31x2.32% 6.93B
23.52x0.8x7.6x1.88% 6.73B
7.74x1.38x5.37x3.42% 6.32B
14.75x1.35x6.35x1.3% 6.04B
Average 20.02x 2.47x 8.78x 2.18% 22.83B
Weighted average by Cap. 19.73x 2.19x 9.92x 1.97%

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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  4. Valuation Saipem SpA