Financials Quadient S.A.

Equities

QDT

FR0000120560

IT Services & Consulting

Market Closed - Euronext Paris Other stock markets 09:05:06 31/05/2024 pm IST			5-day change	1st Jan Change
22.15 ^EUR	+2.31%		+12.21%	+15.24%

30/05	Czech billionaire Kretinsky's sprawling empire	RE
28/05	QUADIENT : Q1 revenue boosted by acquisitions

Valuation

Fiscal Period: Gennaio	2020	2021	2022	2023	2024	2025	2026	2027
Capitalization ¹	747.7	618.9	620.5	555.9	673.8	761.4	-	-
Enterprise Value (EV) ¹	1,416	1,131	1,124	1,278	1,337	1,339	1,255	1,260
P/E ratio	145 x	19.6 x	8.33 x	55.8 x	9.71 x	8.33 x	7.62 x	7.04 x
Yield	2.44%	2.78%	3.04%	3.71%	3.31%	3.15%	3.16%	2.91%
Capitalization / Revenue	0.65 x	0.6 x	0.61 x	0.51 x	0.63 x	0.69 x	0.68 x	0.67 x
EV / Revenue	1.24 x	1.1 x	1.1 x	1.18 x	1.26 x	1.22 x	1.12 x	1.1 x
EV / EBITDA	5.02 x	4.6 x	4.59 x	5.32 x	5.48 x	5.18 x	4.69 x	4.45 x
EV / FCF	16.5 x	6.77 x	10.8 x	18.2 x	20.9 x	15.5 x	12.7 x	12.1 x
FCF Yield	6.07%	14.8%	9.25%	5.49%	4.79%	6.47%	7.88%	8.27%
Price to Book	0.6 x	0.5 x	0.46 x	0.52 x	0.63 x	0.65 x	0.61 x	0.59 x
Nbr of stocks (in thousands)	34,422	34,366	34,338	34,377	34,345	34,373	-	-
Reference price ²	21.72	18.01	18.07	16.17	19.62	22.15	22.15	22.15
Announcement Date	30/03/20	30/03/21	28/03/22	27/03/23	25/03/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: Gennaio	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	1,143	1,029	1,024	1,081	1,062	1,098	1,119	1,142
EBITDA ¹	282	246	245	240	244	258.4	267.8	283
EBIT ¹	170	152	147	150	157	157.8	166.9	182
Operating Margin	14.87%	14.77%	14.36%	13.88%	14.78%	14.37%	14.91%	15.94%
Earnings before Tax (EBT) ¹	36	64	108	31	101	126.6	138.2	141.3
Net income ¹	14	40	88	13	69	90.88	99.38	108.6
Net margin	1.22%	3.89%	8.59%	1.2%	6.5%	8.28%	8.88%	9.51%
EPS ²	0.1500	0.9200	2.170	0.2900	2.020	2.660	2.908	3.145
Free Cash Flow ¹	86	167	104	70.2	64	86.67	98.97	104.2
FCF margin	7.52%	16.23%	10.16%	6.49%	6.03%	7.89%	8.84%	9.13%
FCF Conversion (EBITDA)	30.5%	67.89%	42.45%	29.25%	26.23%	33.55%	36.95%	36.83%
FCF Conversion (Net income)	614.29%	417.5%	118.18%	540%	92.75%	95.37%	99.59%	95.99%
Dividend per Share ²	0.5300	0.5000	0.5500	0.6000	0.6500	0.6975	0.7000	0.6450
Announcement Date	30/03/20	30/03/21	28/03/22	27/03/23	25/03/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: Gennaio	2021 S1	2021 S2	2022 S1	2022 Q3	2023 Q1	2023 Q2	2023 S1	2023 Q3	2024 Q1	2024 S1	2024 Q3
Net sales ¹	485	544	504	248	253	271	524	270	256	522	263
EBITDA	104	-	118	-	-	-	111	-	-	-	-
EBIT	61	91	70	-	-	-	65	-	-	68	-
Operating Margin	12.58%	16.73%	13.89%	-	-	-	12.4%	-	-	13.03%	-
Earnings before Tax (EBT)	25	-	55	-	-	-	42	-	-	-	-
Net income	21	-	45	-	-	-	29	-	-	-	-
Net margin	4.33%	-	8.93%	-	-	-	5.53%	-	-	-	-
EPS	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	28/09/20	30/03/21	27/09/21	07/12/21	07/06/22	26/09/22	26/09/22	05/12/22	31/05/23	20/09/23	29/11/23

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: Gennaio	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	668	512	504	722	663	578	494	499
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	2.369 x	2.081 x	2.057 x	3.008 x	2.717 x	2.237 x	1.844 x	1.763 x
Free Cash Flow ¹	86	167	104	70.2	64	86.7	99	104
ROE (net income / shareholders' equity)	4.25%	4.22%	6.77%	1.07%	6.57%	7.83%	8.05%	8.55%
ROA (Net income/ Total Assets)	-	-	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-	-	-
Book Value Per Share ²	36.10	35.90	39.40	31.20	31.20	34.20	36.50	37.50
Cash Flow per Share ²	2.090	5.910	4.730	4.660	4.830	5.480	5.680	6.300
Capex ¹	109	90	88	87.9	101	98.4	99.2	102
Capex / Sales	9.54%	8.75%	8.59%	8.13%	9.51%	8.96%	8.87%	8.96%
Announcement Date	30/03/20	30/03/21	28/03/22	27/03/23	25/03/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Quadient S.A.

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

22.15 EUR

Average target price

24.78 EUR

Spread / Average Target

+11.87%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Technology Consulting & Outsourcing Services

	1st Jan change	Capi.
QUADIENT S.A.	+15.24%	826M
VERISK ANALYTICS, INC.	+5.98%	36.07B
SS&C TECHNOLOGIES HOLDINGS, INC.	+1.54%	15.35B
SAMSUNG SDS CO.,LTD.	-9.88%	8.57B
OTSUKA CORPORATION	+2.56%	7.19B
REPLY S.P.A.	+5.77%	5.11B
POSCO DX COMPANY LTD.	-52.36%	3.88B
NS SOLUTIONS CORPORATION	+11.48%	2.97B
DHC SOFTWARE CO.,LTD.	-18.80%	2.22B
NEC NETWORKS & SYSTEM INTEGRATION CORPORATION	-6.43%	2.11B

Technology Consulting & Outsourcing Services