Company Valuation: FFP

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,075 2,211 2,519 1,815 1,881 1,392 - -
Change - -28.11% 13.97% -27.97% 3.63% -25.98% - -
Enterprise Value (EV) 1 4,279 3,161 2,519 2,366 2,257 1,869 1,869 1,585
Change - -26.12% -20.3% -6.1% -4.61% -17.2% 0% -15.17%
P/E 6.74x 9.31x 18.4x 12.4x 8.41x 6.44x 6.46x 6.26x
PBR 0.55x 0.46x - 0.4x 0.45x 0.36x 0.36x 0.33x
PEG - -0.2x -0.4x 1.71x 0.2x -1.96x -18.76x 1.91x
Capitalization / Revenue 4.76x 6.88x 9.3x 7.25x 5.19x 5.31x 5.31x -
EV / Revenue 6.63x 9.84x 9.3x 9.46x 6.23x 7.13x 7.13x -
EV / EBITDA 7.01x 11.1x 10.6x 11.1x 6.9x 8.13x 8.19x -
EV / EBIT 7.02x 11.1x 10.9x 11.1x 6.93x 8.2x 8.27x -
EV / FCF 47.9x 12.8x 10.1x 6.9x -4,037x 8.27x 8.33x -
FCF Yield 2.09% 7.81% 9.88% 14.5% -0.02% 12.1% 12% -
Dividend per Share 2 2.65 2.85 3.25 3.25 3.25 3.422 2.952 1.625
Rate of return 2.14% 3.2% 3.21% 4.45% 4.29% 6.1% 5.26% 2.9%
EPS 2 18.41 9.56 5.5 5.9 9.01 8.714 8.684 8.968
Distribution rate 14.4% 29.8% 59.1% 55.1% 36.1% 39.3% 34% 18.1%
Net sales 1 645.8 321.4 271 250.2 362.3 262 262 -
EBITDA 1 610.6 285.5 237 213.5 326.9 229.8 228.1 -
EBIT 1 609.7 284.7 230.4 212.2 325.7 228 226 -
Net income 1 454.5 237.4 136.6 146.3 223.5 211 209 -
Net Debt 1 1,204 950.6 - 551 376 476.5 476.5 193
Reference price 2 124.00 89.00 101.40 73.10 75.80 56.10 56.10 56.10
Nbr of stocks (in thousands) 24,798 24,837 24,846 24,825 24,811 24,814 - -
Announcement Date 3/22/22 A 3/23/23 A 3/21/24 A 3/21/25 A 3/26/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.23x6.04x12.94x1.97% 180B
15.56x3.73x - 2.28% 169B
17.64x7.7x - 1.42% 110B
25.31x13.26x22.75x3.85% 83.31B
14.45x5.44x - 1.81% 53.11B
12.27x1.89x5.8x1.2% 49.41B
5.49x5.65x4.04x3.34% 38.42B
14.66x5.32x16.58x1.8% 34.17B
Average 15.83x 6.13x 12.42x 2.21% 89.72B
Weighted average by Cap. 17.54x 6.21x 13.58x 2.18%

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