Company Valuation: Amundi

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 14,686 10,791 12,526 13,126 14,386 19,059 - -
Change - -26.52% 16.08% 4.79% 9.6% 32.49% - -
Enterprise Value (EV) 1 15,857 10,791 13,903 13,789 14,212 17,716 17,236 16,743
Change - -31.95% 28.84% -0.82% 3.07% 24.65% -2.71% -2.86%
P/E 10.7x 10x 10.8x 10.1x 9.12x 11.7x 12.9x 12.5x
PBR 1.38x - 1.1x 1.09x 1.14x 1.45x 1.41x 1.35x
PEG - -0.5x 1.33x 0.9x 0.4x 2.89x -1.44x 4.15x
Capitalization / Revenue 4.58x 3.44x 3.91x 3.75x 4.21x 5.18x 5.18x 5.07x
EV / Revenue 4.95x 3.44x 4.34x 3.94x 4.16x 4.81x 4.69x 4.45x
EV / EBITDA 9.51x - - 7.91x 9.32x 9.39x 9.17x 8.79x
EV / EBIT 9.49x 7.36x 9.28x 8.31x 8.69x 9.78x 9.72x 9.29x
EV / FCF 8.31x - 9.33x 9.06x 8.23x 12.8x 10.9x 10.7x
FCF Yield 12% - 10.7% 11% 12.2% 7.83% 9.16% 9.39%
Dividend per Share 2 4.1 4.1 4.1 4.25 4.25 4.984 5.153 5.272
Rate of return 5.65% 7.74% 6.66% 6.62% 6.02% 5.27% 5.45% 5.58%
EPS 2 6.75 5.28 5.71 6.37 7.74 8.054 7.332 7.554
Distribution rate 60.7% 77.7% 71.8% 66.7% 54.9% 61.9% 70.3% 69.8%
Net sales 1 3,204 3,137 3,204 3,497 3,417 3,681 3,677 3,762
EBITDA 1 1,667 - - 1,743 1,525 1,886 1,881 1,904
EBIT 1 1,670 1,466 1,498 1,660 1,636 1,811 1,774 1,802
Net income 1 1,369 1,074 1,165 1,305 1,592 1,645 1,481 1,521
Net Debt 1 1,170 - 1,376 662.9 -173.8 -1,344 -1,823 -2,317
Reference price 2 72.55 53.00 61.60 64.20 70.60 94.55 94.55 94.55
Nbr of stocks (in thousands) 202,433 203,604 203,350 204,461 203,768 201,581 - -
Announcement Date 9/2/22 8/2/23 7/2/24 4/2/25 3/2/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.36x7.43x14.17x4.01% 103B
27.1x13.28x19.91x0.78% 90.73B
22.49x6.37x17.71x4.12% 29.94B
11.74x4.81x9.39x5.27% 22.12B
17.03x1.93x6.9x3.92% 17.1B
13.07x4.04x12.12x3.32% 15.09B
15.03x9.54x - 9.73% 14.17B
31.9x18.7x26.12x - 11.6B
Average 19.97x 8.26x 15.19x 4.45% 37.94B
Weighted average by Cap. 21.94x 8.94x 15.91x 3.35%

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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