Company Valuation: Kitron ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 466.1 526.7 592.4 570 1,332 1,933 - -
Change - 12.99% 12.48% -3.77% 133.76% 45.1% - -
Enterprise Value (EV) 1 523.1 671.7 721.8 683.5 1,301 1,923 1,895 1,826
Change - 28.41% 7.46% -5.3% 90.32% 47.85% -1.48% -3.66%
P/E 30.8x 19.9x 11.5x 20.5x 28x 23.4x 19.4x 16.2x
PBR 3.6x 3.92x 3.26x 2.86x 3.95x 4.84x 4.05x 3.36x
PEG - 0.3x 0.1x -0.4x 0.5x 0.3x 0.9x 0.8x
Capitalization / Revenue 1.26x 0.89x 0.76x 0.88x 1.8x 1.73x 1.47x 1.27x
EV / Revenue 1.41x 1.13x 0.93x 1.06x 1.76x 1.72x 1.44x 1.2x
EV / EBITDA 15.4x 11.8x 8.17x 10.2x 15.7x 14.2x 11.8x 9.72x
EV / EBIT 21.8x 16x 10.2x 14.2x 20.2x 17.9x 14.4x 11.7x
EV / FCF 61.7x 118x 16.9x 19.5x 16x 57.7x 25.2x 17.1x
FCF Yield 1.62% 0.85% 5.92% 5.14% 6.23% 1.73% 3.98% 5.83%
Dividend per Share 2 0.0249 0.0446 0.066 0.03 0.0624 0.1136 0.1457 0.1856
Rate of return 1.05% 1.67% 2.21% 1.05% 1.01% 1.28% 1.65% 2.1%
EPS 2 0.0767 0.1336 0.26 0.14 0.22 0.3777 0.4567 0.5464
Distribution rate 32.5% 33.4% 25.4% 21.4% 28.4% 30.1% 31.9% 34%
Net sales 1 369.8 593.8 775.2 647.2 738.3 1,119 1,313 1,527
EBITDA 1 34.06 56.84 88.3 66.7 83.1 135.1 160.9 187.7
EBIT 1 23.99 42.07 70.7 48 64.5 107.7 131.6 155.6
Net income 1 15.23 26.28 51.1 28 43.8 82.3 100 119.9
Net Debt 1 56.93 145 129.4 113.5 -31.6 -10.01 -38.46 -107.9
Reference price 2 2.366 2.664 2.989 2.866 6.158 8.840 8.840 8.840
Nbr of stocks (in thousands) 197,014 197,691 198,198 198,890 216,389 218,702 - -
Announcement Date 2/11/22 A 2/15/23 A 2/14/24 A 2/13/25 A 2/12/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
30.36x5.67x17.34x0.74% 191B
13.31x0.3x6.7x3.77% 109B
37.97x6.19x20.17x0.92% 89.59B
27.58x9.92x20.15x0.46% 88.07B
67.08x7.09x33.12x0.21% 74.4B
18.87x1.12x12.57x0.68% 63.83B
18.42x3.14x11.9x1.44% 58.54B
39.16x5.5x20.73x0.01% 56.78B
64.03x29.36x66.59x0.4% 43.75B
Average 35.20x 7.59x 23.25x 0.96% 86.11B
Weighted average by Cap. 32.74x 6.35x 20.22x 1.08%

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

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