Company Valuation: Maire S.p.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,364 1,016 1,608 2,702 4,266 4,052 - -
Change - -25.5% 58.27% 68.05% 57.89% -5.01% - -
Enterprise Value (EV) 1 1,580 1,016 1,251 2,230 3,775 3,762 3,700 3,602
Change - -35.73% 23.15% 78.27% 69.26% -0.33% -1.65% -2.66%
P/E 16.4x 11.3x 12.9x 13.7x 16.4x 13.8x 12.1x 11x
PBR 2.77x - 3.06x 4.55x 5.97x 5.07x 4.44x 3.87x
PEG - 1.44x 0.3x 0.2x 0.5x 1.1x 0.9x 1.1x
Capitalization / Revenue 0.48x 0.29x 0.38x 0.46x 0.6x 0.53x 0.5x 0.48x
EV / Revenue 0.55x 0.29x 0.29x 0.38x 0.53x 0.49x 0.46x 0.42x
EV / EBITDA 9.1x 4.85x 4.56x 5.77x 7.55x 6.68x 5.89x 5.29x
EV / EBIT 12.2x 6.43x 5.78x 6.93x 8.76x 7.71x 6.75x 6.02x
EV / FCF 9.53x - 3.73x 9.13x 14.3x 14.9x 13.4x 10.9x
FCF Yield 10.5% - 26.8% 10.9% 6.97% 6.7% 7.44% 9.18%
Dividend per Share 2 0.1832 - 0.197 0.356 0.585 0.6218 0.7125 0.7821
Rate of return 4.4% - 4.01% 4.31% 4.48% 5.01% 5.74% 6.3%
EPS 2 0.254 0.274 0.382 0.605 0.798 0.8967 1.022 1.128
Distribution rate 72.1% - 51.6% 58.8% 73.3% 69.3% 69.7% 69.4%
Net sales 1 2,865 3,464 4,260 5,900 7,097 7,601 8,058 8,486
EBITDA 1 173.7 209.3 274.4 386.4 500.1 563 627.8 680.8
EBIT 1 130 158 216.5 321.6 431 487.9 548.5 598
Net income 1 83.3 89.89 125.4 198.7 260.3 285.8 317.4 350.4
Net Debt 1 216.8 - -356.8 -471.7 -491.2 -289.9 -352 -450.4
Reference price 2 4.16 3.10 4.91 8.26 13.05 12.41 12.41 12.41
Nbr of stocks (in thousands) 327,780 327,465 327,431 327,090 326,883 326,508 - -
Announcement Date 2/25/22 A 3/1/23 A 3/5/24 A 3/3/25 A 3/4/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.25x0.66x6.73x1.71% 7.25B
6.34x0.12x2.17x3.17% 6.52B
14.02x0.5x6.77x4.95% 4.71B
17.56x1.97x9.48x1.98% 4.03B
12.55x0.48x5.18x3.08% 1.56B
20.79x0.51x18.08x1.21% 1.05B
10.26x - - - 708M
Average 13.54x 0.71x 8.07x 2.68% 3.69B
Weighted average by Cap. 12.50x 0.68x 6.37x 2.8%

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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