Company Valuation: Klabin S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 28,186 21,975 24,516 28,208 23,020 23,221 - -
Change - -22.04% 11.56% 15.06% -18.39% 0.87% - -
Enterprise Value (EV) 1 49,102 43,014 44,709 60,382 48,565 49,352 47,805 46,857
Change - -12.4% 3.94% 35.06% -19.57% 1.62% -3.14% -1.98%
P/E 9.32x 4.93x 9.1x 15.4x 16.4x 13.9x 12.9x 11.4x
PBR 5.02x 2.3x 2.12x 4.24x 2.92x 2.23x 2.1x 2x
PEG - 0.1x -0.2x -0.5x -0.7x 0.8x 1.56x 0.9x
Capitalization / Revenue 1.71x 1.1x 1.36x 1.44x 1.11x 1.09x 1.04x 1x
EV / Revenue 2.98x 2.15x 2.48x 3.07x 2.35x 2.32x 2.15x 2.02x
EV / EBITDA 7.15x 5.53x 7.14x 8.23x 6.19x 6.38x 5.87x 5.54x
EV / EBIT 8.96x 6.47x 10.6x 13.4x 10.8x 12.9x 10.7x 9.69x
EV / FCF 48.4x -42.3x 14.2x 15.6x 13.6x 17.6x 10.9x 9.55x
FCF Yield 2.06% -2.37% 7.06% 6.42% 7.34% 5.67% 9.2% 10.5%
Dividend per Share 2 0.126 1.2 1.093 1.271 - 1.027 1.155 1.27
Rate of return 0.55% 6.68% 5.47% 5.53% - 5.44% 6.12% 6.73%
EPS 2 2.477 3.649 2.199 1.49 1.143 1.354 1.466 1.651
Distribution rate 5.09% 32.9% 49.7% 85.3% - 75.9% 78.8% 77%
Net sales 1 16,481 20,033 18,024 19,645 20,698 21,297 22,286 23,197
EBITDA 1 6,865 7,784 6,259 7,333 7,848 7,741 8,143 8,462
EBIT 1 5,481 6,647 4,235 4,497 4,480 3,837 4,466 4,836
Net income 1 3,020 4,692 2,695 1,831 1,678 1,534 1,643 1,993
Net Debt 1 20,916 21,038 20,193 32,174 25,545 26,131 24,584 23,636
Reference price 2 23.10 17.97 20.00 22.97 18.76 18.87 18.87 18.87
Nbr of stocks (in thousands) 1,220,375 1,222,560 1,225,805 1,228,028 1,227,086 1,230,579 - -
Announcement Date 10/2/22 8/2/23 7/2/24 26/2/25 11/2/26 - - -
1BRL in Million2BRL
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.93x1.64x10.37x6.39% 14.69B
7.02x2.24x5.61x3.59% 10.89B
21.84x2.47x12.21x2.88% 5.11B
20.25x0.85x11.16x4.08% 4.68B
13.94x2.32x6.38x5.44% 4.46B
13.84x1.03x6.66x1.75% 2.86B
16.94x1.82x8.25x5.65% 2.7B
12.84x - - 4.75% 2.3B
5.78x0.85x4.23x2.78% 1.92B
Average 14.38x 1.65x 8.11x 4.15% 5.51B
Weighted average by Cap. 14.50x 1.79x 8.58x 4.59%

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