Company Valuation: Polaris Renewable Energy Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 260.1 218.6 211.1 195.1 180.6 216.7 - -
Change - -15.97% -3.42% -7.6% -7.43% 19.99% - -
Enterprise Value (EV) 1 333.2 367.7 343.4 310.1 180.6 342.2 388.6 576.9
Change - 10.35% -6.59% -9.71% -41.77% 89.5% 13.57% 48.45%
P/E 444x 86.6x 17.9x 66.2x -66.2x -223x 61.2x 22.8x
PBR - - - - - - - -
PEG - 0x 0x -0.9x 0x 3.5x -0x 0x
Capitalization / Revenue 4.37x 3.49x 2.69x 2.57x 2.24x 2.83x 2.67x 1.92x
EV / Revenue 5.6x 5.87x 4.37x 4.09x 2.24x 4.47x 4.78x 5.1x
EV / EBITDA 7.61x 8.18x 5.96x 5.63x 3.19x 6.55x 6.92x 7.18x
EV / EBIT 20.9x 20.9x 12.2x 12.5x 6.89x 17.5x 19.2x -
EV / FCF 9.19x 11.3x 6.38x 5.78x - 8.35x 3.63x 4.29x
FCF Yield 10.9% 8.87% 15.7% 17.3% - 12% 27.5% 23.3%
Dividend per Share 2 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6
Rate of return 4.5% 5.77% 5.99% 6.48% 6.97% 5.84% 5.84% 5.84%
EPS 2 0.03 0.12 0.56 0.14 -0.13 -0.046 0.168 0.45
Distribution rate 2,000% 500% 107% 429% -462% -1,304% 357% 133%
Net sales 1 59.52 62.6 78.52 75.77 80.48 76.56 81.24 113
EBITDA 1 43.77 44.92 57.66 55.04 56.52 52.22 56.18 80.3
EBIT 1 15.92 17.61 28.04 24.73 26.22 19.5 20.2 -
Net income 1 0.501 2.499 11.74 2.99 -2.746 -0.45 3.1 5.4
Net Debt 1 73.06 149.1 132.3 115 - 125.5 171.9 360.2
Reference price 2 13.32 10.40 10.02 9.26 8.61 10.28 10.28 10.28
Nbr of stocks (in thousands) 19,525 21,026 21,074 21,055 20,980 20,893 - -
Announcement Date 2/24/22 A 2/23/23 A 2/22/24 A 2/20/25 A 2/19/26 A - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-225.53x4.47x6.55x5.78% 217M
20.6x9.83x14.03x2.26% 27.07B
75.64x18.76x22.29x-.--% 22.76B
27.37x7.85x10.05x1.36% 16.18B
13.05x5.68x9.34x2.86% 8.52B
27.43x4.85x8.38x3.34% 4.08B
Average -10.24x 8.57x 11.77x 2.6% 13.14B
Weighted average by Cap. 36.74x 11.28x 14.78x 1.55%

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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