Company Valuation: Berliner Effektengesellschaft AG

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 722 1,175 1,055 931.2 833.7 919.1
Change - 62.8% -10.29% -11.7% -10.47% 10.25%
Enterprise Value (EV) 1 722.3 1,162 1,046 916.6 807.4 898.4
Change - 60.9% -10% -12.37% -11.92% 11.27%
P/E 9.02x 15.3x 40.1x 70.8x 54.5x 33.5x
PBR 6.75x 7.87x 7.23x 7.04x 6.36x 6.16x
PEG - -4.53x -0.6x -1.4x 2.9x 0.4x
Capitalization / Revenue 2.7x 4.65x 7.26x 8.63x 5.91x 4.69x
EV / Revenue 2.7x 4.59x 7.2x 8.5x 5.72x 4.59x
EV / EBITDA - - - - - -
EV / EBIT - - - - - -
EV / FCF - - - - - -
FCF Yield - - - - - -
Dividend per Share 2 1 1 1 0.5 0.5 0.6
Rate of return 1.87% 1.14% 1.27% 0.71% 0.78% 0.85%
EPS 2 5.928 5.728 1.96 0.9885 1.174 2.105
Distribution rate 16.9% 17.5% 51% 50.6% 42.6% 28.5%
Net sales 1 267.8 253 145.3 107.9 141 195.9
EBITDA - - - - - -
EBIT - - - - - -
Net income 1 58.33 57.52 17.97 9.677 15.3 27.34
Net Debt 1 0.2964 -13.3 -8.549 -14.56 -26.29 -20.68
Reference price 2 53.50 87.40 78.60 70.00 64.00 70.50
Nbr of stocks (in thousands) 13,495 13,449 13,416 13,302 13,026 13,036
Announcement Date 4/29/21 A 4/20/22 A 4/25/23 A 4/25/24 A 4/30/25 A 5/18/26 A
1EUR in Million2EUR
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 1.08B
19.39x3.69x10.1x2.95% 66.52B
12.58x - - 2.97% 44.53B
7.58x - - 2.35% 13.68B
6.21x0.9x - 3.95% 11.38B
11.54x0.84x - 1.94% 8.98B
8.18x - - 6.49% 7.13B
-1230.82x2.81x15.25x1.05% 4.38B
26.49x - - 1.7% 4.02B
Average -142.36x 2.06x 12.67x 2.93% 17.97B
Weighted average by Cap. -19.28x 3.02x 10.42x 2.99%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Berliner Effektengesellschaft AG