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 40,401 - -
Change - -26.25% 7.12% 143.6% 24.32% -10.88% - -
Enterprise Value (EV) 1 19,807 15,973 17,146 37,918 45,326 40,800 38,675 36,142
Change - -19.36% 7.34% 121.15% 19.54% -9.98% -5.21% -6.55%
P/E 17.9x 33.4x 44.8x 34.3x 29.1x 21.2x 17.6x 14.5x
PBR 2.32x 1.58x 1.67x 3.64x 4.18x 3.35x 2.93x 2.43x
PEG - -0.6x -2.2x 0x 0.6x 1x 0.9x 0.7x
Capitalization / Revenue 3.28x 2.53x 2.85x 5.93x 5.86x 4.65x 4.2x 3.78x
EV / Revenue 3.43x 2.9x 3.26x 6.16x 5.86x 4.7x 4.02x 3.38x
EV / EBITDA 12.1x 12.7x 12.7x 25.7x 17.2x 13.4x 10.7x 8.53x
EV / EBIT 15x 23.7x 26.1x 45.4x 22.6x 16.6x 13x 9.97x
EV / FCF 15.6x 18.4x 38.5x 41.2x 24.6x 21.4x 14.8x 11.7x
FCF Yield 6.42% 5.43% 2.6% 2.43% 4.06% 4.68% 6.75% 8.52%
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% 0.69% 0.71% 0.72%
EPS 2 5.6 2.2 1.76 5.61 8.2 9.999 12.01 14.61
Distribution rate 23.2% 60.5% 77.3% 24.8% 17.7% 14.6% 12.5% 10.5%
Net sales 1 5,777 5,517 5,252 6,152 7,741 8,682 9,622 10,686
EBITDA 1 1,641 1,260 1,349 1,476 2,636 3,053 3,621 4,239
EBIT 1 1,318 675 657 836 2,009 2,459 2,974 3,624
Net income 1 1,058 418 343 1,065 1,558 1,928 2,296 2,786
Net Debt 1 860 2,000 2,177 1,454 -7 399 -1,727 -4,259
Reference price 2 100.35 73.56 78.90 192.20 238.60 211.90 211.90 211.90
Nbr of stocks (in thousands) 188,812 189,959 189,721 189,720 189,996 190,663 - -
Announcement Date 24/2/22 22/2/23 28/2/24 27/2/25 24/2/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
21.17x4.69x13.35x0.69% 45.93B
18.14x4.26x10.04x0.49% 79.49B
-23.24x35.29x-22.91x-.--% 77.78B
20.69x4.4x13.62x2.39% 60.16B
33.28x11.32x21.7x-.--% 46.14B
36.92x3.68x13.78x-.--% 33.45B
55.53x3.53x27.38x-.--% 25.22B
63.4x7.07x42.3x-.--% 22.15B
22.85x4.91x12.79x-.--% 15.25B
-24.55x13.71x-37x-.--% 12.96B
Average 22.42x 9.29x 9.50x 0.36% 41.85B
Weighted average by Cap. 17.82x 11.25x 7.78x 0.51%

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