Company Valuation: Bechtle AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,930 4,166 5,719 3,919 5,504 4,481 - -
Change - -47.47% 37.3% -31.48% 40.45% -18.59% - -
Enterprise Value (EV) 1 7,844 4,309 5,794 3,861 5,598 4,467 4,348 4,158
Change - -45.06% 34.45% -33.36% 44.98% -20.2% -2.66% -4.38%
P/E 34.2x 16.6x 21.5x 15.9x 24x 18x 16.5x 15.2x
PBR 5.86x 2.71x 3.28x 2.05x 2.68x 2.03x 1.88x 1.74x
PEG - 2.04x 3.57x -2.1x -3.6x 2.1x 1.8x 1.75x
Capitalization / Revenue 1.27x 0.69x 0.89x 0.62x 0.86x 0.65x 0.61x 0.57x
EV / Revenue 1.26x 0.71x 0.9x 0.61x 0.87x 0.64x 0.59x 0.53x
EV / EBITDA 18.3x 9.22x 11.4x 7.85x 11.3x 8.36x 7.56x 6.75x
EV / EBIT 24.1x 12.1x 15.2x 11x 16.7x 12.2x 10.9x 9.61x
EV / FCF 44.3x 69.1x 15.5x 8.22x 33.2x 22.2x 16.8x 14.6x
FCF Yield 2.26% 1.45% 6.47% 12.2% 3.01% 4.5% 5.95% 6.83%
Dividend per Share 2 0.55 0.65 0.7 0.7 0.7 0.741 0.793 0.83
Rate of return 0.87% 1.97% 1.54% 2.25% 1.6% 2.08% 2.23% 2.33%
EPS 2 1.84 1.99 2.11 1.95 1.82 1.976 2.157 2.345
Distribution rate 29.9% 32.7% 33.2% 35.9% 38.5% 37.5% 36.8% 35.4%
Net sales 1 6,246 6,028 6,423 6,306 6,406 6,936 7,371 7,807
EBITDA 1 428.7 467.5 508.9 491.6 494.6 534.5 575 615.6
EBIT 1 325.7 355.4 382.3 351.3 335.3 365.8 400.4 432.5
Net income 1 231.4 251.1 265.5 245.5 229.2 249.6 272.1 293.3
Net Debt 1 -86.27 143.7 74.76 -57.66 93.86 -13.58 -132.5 -322.9
Reference price 2 62.94 33.06 45.39 31.10 43.68 35.56 35.56 35.56
Nbr of stocks (in thousands) 126,000 126,000 126,000 126,000 126,000 126,000 - -
Announcement Date 3/18/22 A 3/17/23 A 3/15/24 A 3/13/25 A 3/19/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.89x3.87x13.52x2.78% 229B
-129x17.99x99.72x-.--% 116B
13.66x1.51x7.91x3.51% 113B
14.25x2.6x9.8x5.77% 83.35B
19.32x5.13x12.59x2.94% 58.46B
13.6x1.96x8.33x5.73% 43.99B
21.07x1.72x10.72x1.39% 42.35B
19.99x1.5x9.62x0.95% 39.17B
16.65x2.09x9.91x5.25% 34.16B
Average 1.49x 4.26x 20.24x 3.15% 84.35B
Weighted average by Cap. -3.67x 5.20x 24.55x 2.91%

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

40% Discount: Identify Tomorrow's Best Investments With The Best Subscriber-Only Tools!
d
:
:
SEIZE THE OFFER!