Company Valuation: Wendel SE

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,603 3,782 3,508 3,953 3,494 3,005 - -
Change - -17.84% -7.24% 12.67% -11.6% -13.99% - -
Enterprise Value (EV) 1 8,306 6,581 7,220 6,714 6,342 6,384 6,540 6,627
Change - -20.77% 9.71% -7.01% -5.53% 0.66% 2.44% 1.34%
P/E 4.43x 5.84x 25.2x 13.7x -23x 28.3x 25.5x 23.6x
PBR 1.77x 1.36x 1.3x 1.22x 0.99x 0.88x 0.91x 0.94x
PEG - -0.2x -0.3x 0x 0x -0x 2.3x 2.89x
Capitalization / Revenue 0.61x 0.43x 0.49x 0.49x 0.46x 0.39x 0.37x 0.36x
EV / Revenue 1.11x 0.76x 1.01x 0.83x 0.84x 0.82x 0.81x 0.8x
EV / EBITDA 6.07x 4.05x 4.15x 3.24x 3.47x 4.48x 4.43x 4.37x
EV / EBIT 7.74x 5.26x 6.31x 5.06x 5.16x 7.08x 6.85x 6.57x
EV / FCF 7.07x 5.38x 6.11x 4.84x 4.26x 7.44x 7.5x 7.48x
FCF Yield 14.1% 18.6% 16.4% 20.7% 23.4% 13.4% 13.3% 13.4%
Dividend per Share 2 2.9 3.2 4 4.7 5.1 5.618 6.01 6.534
Rate of return 2.75% 3.67% 4.96% 5.06% 6.2% 7.27% 7.77% 8.45%
EPS 2 23.78 14.93 3.2 6.766 -3.58 2.732 3.032 3.28
Distribution rate 12.2% 21.4% 125% 69.5% -142% 206% 198% 199%
Net sales 1 7,504 8,700 7,128 8,064 7,568 7,743 8,026 8,263
EBITDA 1 1,368 1,626 1,738 2,072 1,826 1,424 1,476 1,517
EBIT 1 1,073 1,251 1,144 1,327 1,230 902.3 955.1 1,009
Net income 1 1,047 656.3 142.4 293.9 -151.8 116.1 126.2 136.7
Net Debt 1 3,703 2,799 3,712 2,761 2,848 3,378 3,534 3,622
Reference price 2 105.40 87.20 80.65 92.95 82.20 77.30 77.30 77.30
Nbr of stocks (in thousands) 43,671 43,369 43,497 42,524 42,508 38,879 - -
Announcement Date 18/03/22 16/03/23 28/02/24 26/02/25 26/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28.29x0.82x4.48x7.27% 3.38B
19.32x5.52x11.8x2.16% 164B
13.71x3.37x - 2.57% 146B
15.75x7.18x - 1.59% 98.65B
18.64x6.58x11.94x4.6% 89.39B
24.21x7.78x11.44x0.87% 81.05B
21.05x11.27x18.06x4.49% 71.54B
13.09x5.13x - 1.99% 48.34B
10.77x1.59x4.92x1.36% 43.36B
Average 18.31x 5.47x 10.44x 2.99% 82.86B
Weighted average by Cap. 17.50x 5.97x 12.04x 2.51%

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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