Company Valuation: Amundi

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 14,686 10,791 12,526 13,126 14,386 17,880 - -
Change - -26.52% 16.08% 4.79% 9.6% 24.29% - -
Enterprise Value (EV) 1 15,857 10,791 13,903 13,789 14,212 16,536 16,064 15,565
Change - -31.95% 28.84% -0.82% 3.07% 16.35% -2.86% -3.11%
P/E 10.7x 10x 10.8x 10.1x 9.12x 11x 12.1x 11.7x
PBR 1.38x - 1.1x 1.09x 1.14x 1.36x 1.32x 1.27x
PEG - -0.5x 1.33x 0.9x 0.4x 2.7x -1.32x 3.55x
Capitalization / Revenue 4.58x 3.44x 3.91x 3.75x 4.21x 4.87x 4.87x 4.76x
EV / Revenue 4.95x 3.44x 4.34x 3.94x 4.16x 4.5x 4.38x 4.14x
EV / EBITDA 9.51x - - 7.91x 9.32x 8.72x 8.57x 8.26x
EV / EBIT 9.49x 7.36x 9.28x 8.31x 8.69x 9.12x 9.03x 8.61x
EV / FCF 8.31x - 9.33x 9.06x 8.23x 11.9x 10.2x 9.9x
FCF Yield 12% - 10.7% 11% 12.2% 8.39% 9.83% 10.1%
Dividend per Share 2 4.1 4.1 4.1 4.25 4.25 4.979 5.137 5.271
Rate of return 5.65% 7.74% 6.66% 6.62% 6.02% 5.61% 5.79% 5.94%
EPS 2 6.75 5.28 5.71 6.37 7.74 8.055 7.314 7.556
Distribution rate 60.7% 77.7% 71.8% 66.7% 54.9% 61.8% 70.2% 69.8%
Net sales 1 3,204 3,137 3,204 3,497 3,417 3,675 3,672 3,755
EBITDA 1 1,667 - - 1,743 1,525 1,897 1,874 1,884
EBIT 1 1,670 1,466 1,498 1,660 1,636 1,813 1,780 1,807
Net income 1 1,369 1,074 1,165 1,305 1,592 1,646 1,477 1,521
Net Debt 1 1,170 - 1,376 662.9 -173.8 -1,344 -1,816 -2,315
Reference price 2 72.55 53.00 61.60 64.20 70.60 88.70 88.70 88.70
Nbr of stocks (in thousands) 202,433 203,604 203,350 204,461 203,768 201,581 - -
Announcement Date 2/9/22 A 2/8/23 A 2/7/24 A 2/4/25 A 2/3/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.32x5.52x11.8x2.16% 165B
13.71x3.37x - 2.57% 147B
15.75x7.18x - 1.59% 97.53B
18.64x6.58x11.94x4.6% 89.31B
24.21x7.78x11.44x0.87% 80.75B
21.05x11.27x18.06x4.49% 71.54B
13.09x5.13x - 1.99% 48.45B
10.77x1.59x4.92x1.36% 43.72B
Average 17.07x 6.05x 11.63x 2.45% 92.99B
Weighted average by Cap. 17.45x 5.98x 12.09x 2.49%

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