Company Valuation: Altarea

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 3,385 2,555 1,652 2,110 2,554 1,992 - -
Change - -24.52% -35.37% 27.76% 21.03% -22.02% - -
Enterprise Value (EV) 1 5,507 4,456 3,685 3,792 4,456 3,838 3,764 3,772
Change - -19.07% -17.31% 2.89% 17.52% -13.86% -1.92% 0.2%
P/E 14.6x 7.97x -3.54x 344x 296x 10.7x 8.45x 8.55x
PBR 1.51x - - - 1.52x 0.87x 0.87x 0.86x
PEG - 0.2x 0x -3x 9.2x 0x 0.3x -7.5x
Capitalization / Revenue 1.12x 0.85x 0.61x 0.86x 1.23x 0.88x 0.86x 0.82x
EV / Revenue 1.82x 1.48x 1.36x 1.54x 2.15x 1.69x 1.62x 1.55x
EV / EBITDA 12.5x 10.3x -10x 15.6x 23.7x 11.2x 8.61x 7.67x
EV / EBIT 15.9x 10.9x -7.74x 18.1x 29.4x 10.6x 8.01x 8.85x
EV / FCF 15.9x 13.6x 9.72x 10.5x -119x 14.9x 16.7x 16.9x
FCF Yield 6.27% 7.33% 10.3% 9.57% -0.84% 6.7% 5.98% 5.91%
Dividend per Share 2 9.75 10 8 8 8 8.5 9 10.36
Rate of return 5.82% 7.92% 10% 8.3% 7.3% 9.96% 10.6% 12.2%
EPS 2 11.49 15.83 -22.57 0.28 0.37 8.004 10.09 9.976
Distribution rate 84.9% 63.2% -35.4% 2,857% 2,162% 106% 89.2% 104%
Net sales 1 3,030 3,013 2,712 2,466 2,076 2,272 2,322 2,427
EBITDA 1 439.2 430.7 -366.7 243.8 188.2 344 437 492
EBIT 1 345.8 410.1 -476 209.4 151.7 361 470 426
Net income 1 211.6 326.8 -472.9 6.1 8.4 188 274 212
Net Debt 1 2,121 1,901 2,034 1,682 1,902 1,847 1,773 1,780
Reference price 2 167.60 126.20 80.00 96.40 109.60 85.30 85.30 85.30
Nbr of stocks (in thousands) 20,198 20,248 20,645 21,888 23,301 23,348 - -
Announcement Date 22/2/22 28/2/23 27/2/24 25/2/25 24/2/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
10.66x1.69x11.16x9.96% 2.28B
37.53x14.88x15.38x5.76% 53.44B
16.52x23.23x27.83x3.49% 16.95B
8.06x11.97x14.66x5.92% 15.43B
17.99x16.26x23.64x5.25% 14.26B
9.29x13.32x15.87x5.38% 12.04B
26.17x10.57x16.63x4.12% 9.64B
36.46x7.66x12.31x5.41% 9.29B
14.58x11.77x18.5x6.47% 9.15B
7.29x19.52x26.41x3.4% 8.83B
Average 18.46x 13.09x 18.24x 5.52% 15.13B
Weighted average by Cap. 23.73x 14.69x 18.18x 5.29%

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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