Company Valuation: UCB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 18,947 13,973 14,969 36,464 45,333 41,278 - -
Change - -26.25% 7.12% 143.6% 24.32% -8.94% - -
Enterprise Value (EV) 1 19,807 15,973 17,146 37,918 45,326 41,588 39,473 36,902
Change - -19.36% 7.34% 121.15% 19.54% -8.25% -5.09% -6.51%
P/E 17.9x 33.4x 44.8x 34.3x 29.1x 21.7x 17.8x 14.6x
PBR 2.32x 1.58x 1.67x 3.64x 4.18x 3.42x 2.99x 2.47x
PEG - -0.6x -2.2x 0x 0.6x 1x 0.8x 0.7x
Capitalization / Revenue 3.28x 2.53x 2.85x 5.93x 5.86x 4.75x 4.26x 3.83x
EV / Revenue 3.43x 2.9x 3.26x 6.16x 5.86x 4.79x 4.08x 3.43x
EV / EBITDA 12.1x 12.7x 12.7x 25.7x 17.2x 13.7x 10.8x 8.63x
EV / EBIT 15x 23.7x 26.1x 45.4x 22.6x 17x 13.2x 10.1x
EV / FCF 15.6x 18.4x 38.5x 41.2x 24.6x 21.8x 14.9x 11.8x
FCF Yield 6.42% 5.43% 2.6% 2.43% 4.06% 4.59% 6.7% 8.45%
Dividend per Share 2 1.3 1.33 1.36 1.39 1.45 1.457 1.502 1.534
Rate of return 1.3% 1.81% 1.72% 0.72% 0.61% 0.67% 0.69% 0.71%
EPS 2 5.6 2.2 1.76 5.61 8.2 9.986 12.14 14.79
Distribution rate 23.2% 60.5% 77.3% 24.8% 17.7% 14.6% 12.4% 10.4%
Net sales 1 5,777 5,517 5,252 6,152 7,741 8,690 9,684 10,764
EBITDA 1 1,641 1,260 1,349 1,476 2,636 3,046 3,646 4,278
EBIT 1 1,318 675 657 836 2,009 2,452 2,999 3,662
Net income 1 1,058 418 343 1,065 1,558 1,925 2,327 2,827
Net Debt 1 860 2,000 2,177 1,454 -7 309.9 -1,806 -4,376
Reference price 2 100.35 73.56 78.90 192.20 238.60 216.50 216.50 216.50
Nbr of stocks (in thousands) 188,812 189,959 189,721 189,720 189,996 190,663 - -
Announcement Date 2/24/22 A 2/22/23 A 2/28/24 A 2/27/25 A 2/24/26 A - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.68x4.79x13.66x0.67% 47.9B
18.39x4.28x10.08x0.49% 79.3B
20.35x4.33x13.36x2.44% 59.21B
-16.15x24.54x-15.9x-.--% 55.09B
36.19x12.33x23.67x-.--% 49.86B
38.82x3.56x13.58x-.--% 32.28B
55.5x3.53x27.36x-.--% 25.21B
71.76x7.68x46.71x-.--% 23.87B
24.44x5.24x13.65x-.--% 16.89B
75.15x45.28x65.75x0.15% 16.17B
Average 34.61x 11.56x 21.19x 0.37% 40.58B
Weighted average by Cap. 26.14x 9.86x 15.00x 0.54%

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