Company Valuation: Fabrica de Scule Rasnov S.A.

Data adjusted to current consolidation scope
Fiscal Period: January 2019 2020 2021 2022 2023 2024
Market Cap 1 20.34 20.34 20.34 20.34 55.09 72.89
Change - 0% 0% 0% 170.83% 32.31%
Enterprise Value (EV) 1 25.03 22.33 23.22 19.03 55.35 72.8
Change - -10.79% 3.97% -18.04% 190.85% 31.53%
P/E 23.7x 22.7x 16.9x 19.6x 27.5x 43.7x
PBR 0.89x 0.85x 0.85x 0.85x 2.12x 2.63x
PEG - 5.24x 0.5x -1.4x 0.3x -2.6x
Capitalization / Revenue 2.26x 2.74x 2.63x 2.3x 6.33x 8.13x
EV / Revenue 2.78x 3.01x 3.01x 2.15x 6.36x 8.12x
EV / EBITDA 10.8x 11.1x 10.8x 8.19x 16.8x 26.2x
EV / EBIT 19.9x 18.2x 16.8x 12.9x 22.6x 37.9x
EV / FCF - - - - - -
FCF Yield - - - - - -
Dividend per Share 2 - - - - - 0.18
Rate of return - - - - - 1.4%
EPS 2 0.152 0.1585 0.2134 0.1834 0.3539 0.2954
Distribution rate - - - - - 60.9%
Net sales 1 9.004 7.411 7.727 8.858 8.697 8.969
EBITDA 1 2.327 2.02 2.158 2.323 3.303 2.783
EBIT 1 1.259 1.229 1.38 1.476 2.452 1.919
Net income 1 0.8585 0.8958 1.206 1.036 2 1.669
Net Debt 1 4.695 1.994 2.88 -1.31 0.2623 -0.0844
Reference price 2 3.60 3.60 3.60 3.60 9.75 12.90
Nbr of stocks (in thousands) 5,650 5,650 5,650 5,650 5,650 5,650
Announcement Date 5/5/20 A 4/28/21 A 4/26/22 A 4/21/23 A 4/29/24 A 4/16/25 A
1RON in Million2RON
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 17.1M
31.02x5.4x19.55x0.83% 122B
34.67x5.45x20.65x1.55% 96.9B
42.25x8.56x25.06x-.--% 61.4B
26.92x3.08x17.81x0.77% 58.81B
39.58x6.16x27.17x1.96% 57.33B
26.77x4.92x17.21x2.25% 34.98B
30.18x4.03x15.22x0.11% 29.67B
20.39x1.74x12.55x2.3% 29.67B
20.22x3.48x11.13x1.51% 28.14B
Average 30.22x 4.76x 18.48x 1.25% 51.93B
Weighted average by Cap. 31.98x 5.18x 19.79x 1.16%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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