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 8,562 - -
Change - 23.22% 30.38% 67.43% -3.35% 80.4% - -
Enterprise Value (EV) 1 3,367 2,514 3,194 4,888 5,244 8,161 7,722 7,081
Change - -25.34% 27.07% 53.03% 7.3% 55.61% -5.37% -8.3%
P/E -0.76x -10.8x 16.4x 16.4x 15.6x 19.6x 14.6x 13.7x
PBR 5.72x 1.09x 1.23x 1.98x 1.84x 3.2x 2.92x 2.67x
PEG - 0.1x -0x 0.2x 11.96x 0.4x 0.4x 2.12x
Capitalization / Revenue 0.27x 0.23x 0.25x 0.34x 0.31x 0.55x 0.54x 0.55x
EV / Revenue 0.49x 0.25x 0.27x 0.34x 0.34x 0.52x 0.49x 0.46x
EV / EBITDA -2.82x 4.22x 3.45x 3.68x 3.06x 4.21x 3.66x 3.32x
EV / EBIT -1.97x 16.8x 7.31x 8.07x 7.72x 9.46x 7.22x 6.28x
EV / FCF -17.4x -4.8x 12.9x 6.46x 4.23x 7.24x 6.63x 5.95x
FCF Yield -5.73% -20.8% 7.76% 15.5% 23.7% 13.8% 15.1% 16.8%
Dividend per Share 2 - - - - 0.17 0.1663 0.1718 0.1812
Rate of return - - - - 7.01% 3.77% 3.89% 4.11%
EPS 2 -116.2 -0.1047 0.0897 0.1533 0.1553 0.2247 0.3019 0.3214
Distribution rate - - - - 109% 74% 56.9% 56.4%
Net sales 1 6,875 9,980 11,874 14,549 15,497 15,577 15,770 15,452
EBITDA 1 -1,192 595 926 1,329 1,716 1,940 2,110 2,134
EBIT 1 -1,713 150 437 606 679 862.4 1,070 1,127
Net income 1 -2,467 -209 179 306 310 456.2 618.5 661.2
Net Debt 1 1,541 264 261 -23 498 -401.7 -840.3 -1,481
Reference price 2 87.857 1.128 1.470 2.509 2.425 4.413 4.413 4.413
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.64x0.52x4.21x3.77% 9.79B
18.59x2.16x9.82x2.46% 71.4B
21.14x2.06x11.5x1.62% 57.1B
14.64x1.5x8.14x2% 28.73B
24.46x2.61x12.97x0.28% 28.65B
20.77x5.82x10.11x2.38% 6.75B
33.89x6.29x11.39x2.95% 6.74B
23.71x0.81x7.66x1.87% 6.78B
7.49x1.32x5.29x3.49% 6.09B
14.93x1.35x6.4x1.29% 6.07B
Average 19.93x 2.44x 8.75x 2.21% 22.81B
Weighted average by Cap. 19.79x 2.18x 9.96x 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