Company Valuation: Accor

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,346 6,005 9,000 11,235 11,316 10,653 - -
Change - -18.26% 49.87% 24.84% 0.72% -5.86% - -
Enterprise Value (EV) 1 9,190 7,663 11,074 13,730 14,380 13,763 13,781 13,683
Change - -16.62% 44.51% 23.99% 4.73% -4.29% 0.13% -0.71%
P/E 150x 16.8x 15.6x 20.2x 30x 20.5x 17x 14.8x
PBR 1.82x 1.41x 2.26x 2.3x 2.69x 3x 2.68x 2.72x
PEG - 0x 0.3x 4.08x -1x 0.5x 0.8x 1x
Capitalization / Revenue 3.33x 1.42x 1.78x 2x 2.01x 1.84x 1.72x 1.62x
EV / Revenue 4.17x 1.81x 2.19x 2.45x 2.55x 2.38x 2.23x 2.09x
EV / EBITDA 418x 11.4x 11x 12.3x 12x 10.8x 9.86x 9x
EV / EBIT -40.3x 17.1x 15.3x 17.5x 17.8x 14.7x 13.1x 11.8x
EV / FCF -15.6x 19.2x 27.8x 31.2x 23.5x 19.6x 18.3x 16.4x
FCF Yield -6.4% 5.22% 3.59% 3.2% 4.26% 5.09% 5.46% 6.08%
Dividend per Share 2 - 0.71 1.05 1.18 1.26 1.452 1.642 1.841
Rate of return - 3.04% 3.03% 2.51% 2.61% 3.17% 3.58% 4.02%
EPS 2 0.19 1.39 2.22 2.33 1.61 2.234 2.702 3.101
Distribution rate - 51.1% 47.3% 50.6% 78.3% 65% 60.8% 59.4%
Net sales 1 2,204 4,224 5,056 5,606 5,639 5,792 6,186 6,559
EBITDA 1 22 675 1,003 1,120 1,201 1,269 1,398 1,520
EBIT 1 -228 447 723 786 807 934.5 1,048 1,157
Net income 1 85 402 633 610 449 528.7 622.5 699
Net Debt 1 1,844 1,658 2,074 2,495 3,064 3,110 3,129 3,031
Reference price 2 28.45 23.35 34.60 47.04 48.22 45.80 45.80 45.80
Nbr of stocks (in thousands) 2,58,225 2,57,174 2,60,110 2,38,847 2,34,673 2,32,589 - -
Announcement Date 24/02/22 23/02/23 22/02/24 20/02/25 19/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
29.48x3.72x17.2x0.87% 8.58TCr
36.55x6.27x20.11x0.2% 6.89TCr
26.16x10.02x17.98x1.35% 2.25TCr
49.51x2.62x15.94x0.37% 1.52TCr
20.5x2.38x10.85x3.17% 1.24TCr
44.99x8.92x26.12x0.47% 1.07TCr
9.16x1.86x7.21x3.71% 400.54Cr
13.12x1.26x4.78x3.27% 376.15Cr
13.88x1.31x8.78x3.35% 347.7Cr
Average 27.04x 4.26x 14.33x 1.86% 2.52TCr
Weighted average by Cap. 32.02x 5.11x 17.64x 0.91%

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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