Company Valuation: Randstad N.V.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 11,045 10,416 10,227 7,130 5,672 6,786 - -
Change - -5.69% -1.82% -30.28% -20.44% 19.64% - -
Enterprise Value (EV) 1 11,460 11,286 11,150 8,981 7,176 8,110 7,970 7,803
Change - -1.52% -1.21% -19.45% -20.09% 13.01% -1.72% -2.1%
P/E 14.6x 11.3x 16.5x 62.6x 19.5x 19.9x 16.6x 14.9x
PBR 2.24x 2.13x 2.18x 1.78x 1.42x 1.65x 1.6x 1.53x
PEG - 0.5x -0.5x -0.8x 0x 1.2x 0.8x 1.4x
Capitalization / Revenue 0.45x 0.38x 0.4x 0.3x 0.25x 0.29x 0.28x 0.27x
EV / Revenue 0.47x 0.41x 0.44x 0.37x 0.31x 0.35x 0.33x 0.32x
EV / EBITDA 8.06x 7.07x 8.11x 8.48x 7.38x 8.7x 7.95x 7.37x
EV / EBIT 10.5x 8.72x 10.4x 11.9x 9.97x 11.1x 10.2x 9.26x
EV / FCF 19.4x 15.3x 10.1x 15.9x 8.98x 18.9x 16.8x 14.3x
FCF Yield 5.15% 6.55% 9.87% 6.29% 11.1% 5.3% 5.97% 6.99%
Dividend per Share 2 2.19 2.85 2.28 1.62 1.62 1.653 1.661 1.945
Rate of return 3.65% 5% 4.02% 3.98% 5% 4.27% 4.29% 5.03%
EPS 2 4.1 5.02 3.43 0.65 1.66 1.942 2.332 2.588
Distribution rate 53.4% 56.8% 66.5% 249% 97.6% 85.1% 71.2% 75.2%
Net sales 1 24,635 27,568 25,426 24,122 23,077 23,353 23,972 24,702
EBITDA 1 1,421 1,597 1,374 1,059 973 932.2 1,002 1,059
EBIT 1 1,095 1,294 1,075 754 720 729.9 783.6 843
Net income 1 768 929 624 123 299 340.2 426.4 478.8
Net Debt 1 415 870 923 1,851 1,504 1,323 1,184 1,016
Reference price 2 60.04 56.96 56.72 40.71 32.37 38.68 38.68 38.68
Nbr of stocks (in thousands) 183,954 182,865 180,300 175,139 175,231 175,451 - -
Announcement Date 2/15/22 A 2/14/23 A 2/13/24 A 2/12/25 A 2/10/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
19.87x0.35x8.68x4.28% 7.85B
22.98x4.72x15.8x2.54% 112B
13.08x0.28x7.56x4.16% 5.02B
33.68x0.75x15.51x5.52% 4.32B
14.06x0.34x5.57x4.36% 4.18B
69.62x3.02x10.66x-.--% 3.45B
19.96x0.18x7.92x2.26% 2.8B
12.85x - - 4.01% 1.44B
7.39x - - 6.68% 1.08B
24.56x3.24x15.89x-.--% 1.05B
Average 23.80x 1.61x 10.95x 3.38% 14.29B
Weighted average by Cap. 23.38x 3.92x 14.51x 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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  4. Valuation Randstad N.V.