Company Valuation: Bekaert NV

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,241 1,913 2,646 1,742 1,876 1,879 - -
Change - -14.64% 38.34% -34.19% 7.7% 0.18% - -
Enterprise Value (EV) 1 2,675 2,416 2,912 2,037 2,065 2,105 2,022 1,935
Change - -9.68% 20.54% -30.04% 1.33% 1.95% -3.92% -4.29%
P/E 5.48x 7.65x 9.86x 7.35x 28.5x 10.3x 9.09x 8.46x
PBR 1.13x 1.02x 1.21x 0.8x 0.94x 0.91x 0.86x 0.81x
PEG - -0.2x -23.37x -2.04x -0.4x 0x 0.7x 1.13x
Capitalization / Revenue 0.46x 0.34x 0.61x 0.44x 0.51x 0.51x 0.5x 0.48x
EV / Revenue 0.55x 0.43x 0.67x 0.51x 0.56x 0.58x 0.54x 0.5x
EV / EBITDA 3.88x 3.69x 5.19x 3.92x 4.4x 4.62x 4.16x 3.76x
EV / EBIT 5.2x 5.27x 7.5x 5.85x 6.96x 7.35x 6.46x 5.74x
EV / FCF 10.1x 13.9x 12.7x 13.4x 6.58x 7.45x 9.19x 8.36x
FCF Yield 9.9% 7.17% 7.89% 7.47% 15.2% 13.4% 10.9% 12%
Dividend per Share 2 1.5 1.65 1.8 1.9 1.95 2.017 2.058 2.092
Rate of return 3.83% 4.55% 3.87% 5.68% 5.15% 5.24% 5.35% 5.43%
EPS 2 7.14 4.74 4.72 4.55 1.33 3.725 4.236 4.553
Distribution rate 21% 34.8% 38.1% 41.8% 147% 54.1% 48.6% 45.9%
Net sales 1 4,840 5,652 4,328 3,958 3,700 3,657 3,774 3,883
EBITDA 1 689 654 561.1 520.1 469 455.5 486.1 514.2
EBIT 1 514.6 458.6 388.3 348.2 296.7 286.5 312.9 337.3
Net income 1 407 268.9 252.9 238.9 67.36 188 216.1 236.4
Net Debt 1 434 503.1 266 295.8 188.8 225.6 143.1 56.28
Reference price 2 39.14 36.28 46.52 33.46 37.90 38.50 38.50 38.50
Nbr of stocks (in thousands) 57,260 52,730 56,889 52,052 49,493 48,810 - -
Announcement Date 25/2/22 1/3/23 1/3/24 28/2/25 26/2/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.86x1.9x10.5x0.53% 34.21B
11.74x0.47x4.51x4.5% 18.83B
20.74x1.99x10.35x0.21% 12.5B
8.9x0.65x4.23x4.64% 10.96B
10.33x - - - 10.48B
58.93x5.17x29.29x0.45% 10.25B
11.57x0.83x5.93x4.24% 9.66B
88.05x1.55x16.61x0.63% 9.21B
Average 29.01x 1.79x 11.63x 2.17% 14.51B
Weighted average by Cap. 25.50x 1.71x 10.70x 1.97%

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