Company Valuation: Saipem SpA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,826 2,250 2,933 4,911 4,746 8,392 - -
Change - 23.22% 30.38% 67.43% -3.35% 76.8% - -
Enterprise Value (EV) 1 3,367 2,514 3,194 4,888 5,244 7,990 7,551 6,910
Change - -25.34% 27.07% 53.03% 7.3% 52.35% -5.49% -8.49%
P/E -0.76x -10.8x 16.4x 16.4x 15.6x 19.3x 14.4x 13.5x
PBR 5.72x 1.09x 1.23x 1.98x 1.84x 3.14x 2.87x 2.62x
PEG - 0.1x -0x 0.2x 11.96x 0.4x 0.4x 2.09x
Capitalization / Revenue 0.27x 0.23x 0.25x 0.34x 0.31x 0.54x 0.53x 0.54x
EV / Revenue 0.49x 0.25x 0.27x 0.34x 0.34x 0.51x 0.48x 0.45x
EV / EBITDA -2.82x 4.22x 3.45x 3.68x 3.06x 4.12x 3.58x 3.24x
EV / EBIT -1.97x 16.8x 7.31x 8.07x 7.72x 9.26x 7.06x 6.13x
EV / FCF -17.4x -4.8x 12.9x 6.46x 4.23x 7.09x 6.48x 5.8x
FCF Yield -5.73% -20.8% 7.76% 15.5% 23.7% 14.1% 15.4% 17.2%
Dividend per Share 2 - - - - 0.17 0.1663 0.1718 0.1812
Rate of return - - - - 7.01% 3.84% 3.96% 4.18%
EPS 2 -116.2 -0.1047 0.0897 0.1533 0.1553 0.2247 0.3019 0.3214
Distribution rate - - - - 109% 74% 56.9% 56.4%
Net sales 1 6,875 9,980 11,874 14,549 15,497 15,577 15,770 15,452
EBITDA 1 -1,192 595 926 1,329 1,716 1,940 2,110 2,134
EBIT 1 -1,713 150 437 606 679 862.4 1,070 1,127
Net income 1 -2,467 -209 179 306 310 456.2 618.5 661.2
Net Debt 1 1,541 264 261 -23 498 -401.7 -840.3 -1,481
Reference price 2 87.857 1.128 1.470 2.509 2.425 4.333 4.333 4.333
Nbr of stocks (in thousands) 20,779 1,995,110 1,995,144 1,957,188 1,957,283 1,940,283 - -
Announcement Date 2/24/22 A 2/28/23 A 2/28/24 A 2/25/25 A 2/25/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.28x0.51x4.13x3.84% 9.62B
18.9x2.15x9.79x2.47% 71.08B
21.22x2.06x11.5x1.62% 57.32B
15.09x1.54x8.34x1.94% 29.59B
25.39x2.71x13.47x0.27% 29.73B
24.22x0.83x7.83x1.92% 6.93B
20.77x5.82x10.1x2.38% 6.75B
34.22x6.43x11.54x2.9% 6.86B
7.64x1.33x5.35x3.42% 6.21B
14.51x1.32x6.24x1.33% 5.9B
Average 20.12x 2.47x 8.83x 2.21% 23B
Weighted average by Cap. 20.10x 2.20x 10.06x 1.95%

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 Saipem SpA