Company Valuation: Alstom SA

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 7,942 9,542 5,430 9,406 11,209 6,918 - -
Change - 20.14% -43.09% 73.21% 19.17% -38.28% - -
Enterprise Value (EV) 1 10,027 11,677 8,424 9,928 12,467 8,122 7,964 7,582
Change - 16.45% -27.86% 17.85% 25.58% -34.85% -1.95% -4.79%
P/E -13.6x -71.7x -17.4x 65.7x 40.4x 12.9x 9.78x 8.17x
PBR 0.89x 1.05x 0.63x 0.9x - 0.61x 0.57x 0.54x
PEG - 0.9x -0x -0x 0.4x 0.1x 0.3x 0.4x
Capitalization / Revenue 0.51x 0.58x 0.31x 0.51x 0.58x 0.34x 0.32x 0.31x
EV / Revenue 0.65x 0.71x 0.48x 0.54x 0.65x 0.4x 0.37x 0.34x
EV / EBITDA 6.1x 6.72x 4.6x 4.84x 6.29x 4.72x 4.13x 3.51x
EV / EBIT 13.1x 13.7x 8.45x 8.43x 10.7x 6.08x 5.33x 4.65x
EV / FCF -10.1x 58.7x -14.9x 20.3x 38.5x 76.3x 22.5x 16.6x
FCF Yield -9.89% 1.7% -6.73% 4.94% 2.6% 1.31% 4.44% 6.03%
Dividend per Share 2 0.25 0.25 - - - 0.2257 0.362 0.4883
Rate of return 1.18% 1% - - - 1.51% 2.42% 3.27%
EPS 2 -1.56 -0.35 -0.81 0.31 0.6 1.16 1.529 1.831
Distribution rate -16% -71.4% - - - 19.5% 23.7% 26.7%
Net sales 1 15,471 16,507 17,619 18,489 19,171 20,214 21,377 22,423
EBITDA 1 1,643 1,738 1,833 2,051 1,981 1,719 1,926 2,159
EBIT 1 767 852 997 1,177 1,168 1,335 1,494 1,630
Net income 1 -581 -132 -309 149 324 553.9 723.1 886
Net Debt 1 2,085 2,135 2,994 522 1,258 1,203 1,045 663.8
Reference price 2 21.27 25.08 14.13 20.38 24.26 14.96 14.96 14.96
Nbr of stocks (in thousands) 3,73,392 3,80,453 3,84,291 4,61,511 4,62,030 4,62,616 - -
Announcement Date 11/05/22 10/05/23 08/05/24 14/05/25 13/05/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
30.91x5.25x23.26x0.75% 38TCr
37.54x5.79x31.56x0.96% 18TCr
15.63x1.2x7.75x4.78% 6.58TCr
18.69x1.73x14.19x2.92% 5.88TCr
31.65x4.37x18.41x0.42% 4.92TCr
16.85x1.69x9.62x2.65% 4.18TCr
11.31x1.07x10.63x4.57% 3.63TCr
32.34x4.69x18.69x1.55% 3.04TCr
11.92x0.39x3.98x4.13% 2.51TCr
Average 22.98x 2.91x 15.34x 2.52% 9.68TCr
Weighted average by Cap. 28.38x 4.26x 21.05x 1.6%

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