Company Valuation: Artnet AG

Data adjusted to current consolidation scope
Fiscal Period: December 2019 2020 2021 2022 2023 2024
Market Cap 1 20.77 39.98 59.09 38.05 41.65 39.37
Change - 92.51% 47.8% -35.62% 9.47% -5.46%
Enterprise Value (EV) 1 23.43 40.7 60.11 38.43 42.32 40.91
Change - 73.68% 47.69% -36.07% 10.13% -3.34%
P/E Ratio -32,522x 20.8x -74.2x 316x -41.9x -28.2x
PBR 6.5x 8.4x 13.4x 7.91x 9.75x 12.1x
PEG - -0x 1x -3x 0x -0.7x
Capitalization / Revenue 1.06x 2.11x 2.83x 1.52x 1.78x 1.77x
EV / Revenue 1.2x 2.15x 2.88x 1.54x 1.81x 1.84x
EV / EBITDA 71x 130x -99.6x -24x -22.7x -39.4x
EV / EBIT 133x 214x -79.9x -23.6x -22.3x -36x
EV / FCF 62.4x -343x 780x -63.2x 74.9x 915x
FCF Yield 1.6% -0.29% 0.13% -1.58% 1.33% 0.11%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -0.000115 0.3461 -0.1414 0.0214 -0.1768 -0.2447
Distribution rate - - - - - -
Net sales 1 19.54 18.94 20.89 25.03 23.35 22.24
EBITDA 1 0.3302 0.314 -0.6033 -1.603 -1.86 -1.038
EBIT 1 0.176 0.1902 -0.7527 -1.63 -1.9 -1.136
Net income 1 -0.000641 1.924 -0.7959 0.1205 -1.004 -1.396
Net Debt 1 2.667 0.7202 1.018 0.3846 0.6741 1.534
Reference price 2 3.74 7.20 10.50 6.76 7.40 6.90
Nbr of stocks (in thousands) 5,553 5,553 5,628 5,628 5,628 5,706
Announcement Date 6/26/20 A 4/1/21 A 5/4/22 A 5/12/23 A 8/31/24 A 8/5/25 A
1EUR in Million2EUR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 74.34M
17.1x2.05x11.19x-.--% 3.01B
17.02x1.73x8.38x1.97% 835M
16.29x - - 3.09% 122M
5.18x0.1x0.48x - 58.27M
Average 13.90x 1.29x 6.68x 1.69% 819.7M
Weighted average by Cap. 16.89x 1.95x 10.43x 0.51%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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