Company Valuation: Appen

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,374 307.4 133.2 688.3 212.5 290 - -
Change - -77.62% -56.66% 416.68% -69.13% 36.48% - -
Enterprise Value (EV) 1 1,307 272.6 84.03 601.8 141.1 219.6 205.1 176.2
Change - -79.15% -69.17% 616.16% -76.55% 55.62% -6.6% -14.12%
P/E 35.4x -0.87x -0.5x -19.1x -6.85x 25.7x 8.23x 6.47x
PBR 2.54x 1.4x 0.94x 3.81x 1.59x 2.32x 2.23x 2.03x
PEG - 0x 0x 0.2x 0.4x -0x 0x 0.2x
Capitalization / Revenue 2.22x 0.53x 0.32x 1.85x 0.65x 0.75x 0.63x 0.55x
EV / Revenue 2.12x 0.47x 0.2x 1.62x 0.43x 0.57x 0.45x 0.34x
EV / EBITDA 12.2x 16.7x -2.25x 48.7x 7.93x 6.8x 3.45x 2.45x
EV / EBIT 22.2x -6.01x -0.92x -24.6x -4.56x -6.45x -7.69x -8.28x
EV / FCF 30.1x -18.9x -2.22x -155x 5.27x -105x 6.91x 4.31x
FCF Yield 3.32% -5.29% -45.1% -0.64% 19% -0.95% 14.5% 23.2%
Dividend per Share 2 0.1 - - - - - - -
Rate of return 0.9% - - - - - - -
EPS 2 0.3155 -2.878 -1.272 -0.138 -0.1168 0.042 0.1312 0.1669
Distribution rate 31.7% - - - - - - -
Net sales 1 617.6 576.9 419.5 372.2 326.7 388.2 460.9 525.5
EBITDA 1 107.3 16.36 -37.4 12.35 17.8 32.29 59.51 72.01
EBIT 1 58.88 -45.39 -91.18 -24.48 -30.93 -34.04 -26.68 -21.28
Net income 1 39.38 -355 -180.7 -31.6 -30.88 8.244 35.8 46.22
Net Debt 1 -66.11 -34.79 -49.2 -86.56 -71.37 -70.39 -84.87 -113.8
Reference price 2 11.160 2.490 0.630 2.640 0.800 1.080 1.080 1.080
Nbr of stocks (in thousands) 123,075 123,446 211,467 260,735 265,611 268,524 - -
Announcement Date 2/23/22 A 2/26/23 A 2/26/24 A 2/25/25 A 2/24/26 A - - -
1AUD in Million2AUD
Estimates

P/E, Detailed evolution



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