Company Valuation: Amundi

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 14,686 10,791 12,526 13,126 14,386 19,553 - -
Change - -26.52% 16.08% 4.79% 9.6% 35.92% - -
Enterprise Value (EV) 1 15,857 10,791 13,903 13,789 14,212 18,210 17,730 17,237
Change - -31.95% 28.84% -0.82% 3.07% 28.13% -2.63% -2.78%
P/E 10.7x 10x 10.8x 10.1x 9.12x 12x 13.2x 12.8x
PBR 1.38x - 1.1x 1.09x 1.14x 1.49x 1.44x 1.38x
PEG - -0.5x 1.33x 0.9x 0.4x 2.96x -1.47x 4.25x
Capitalization / Revenue 4.58x 3.44x 3.91x 3.75x 4.21x 5.32x 5.32x 5.2x
EV / Revenue 4.95x 3.44x 4.34x 3.94x 4.16x 4.96x 4.83x 4.58x
EV / EBITDA 9.51x - - 7.91x 9.32x 9.66x 9.43x 9.05x
EV / EBIT 9.49x 7.36x 9.28x 8.31x 8.69x 10.1x 10x 9.58x
EV / FCF 8.31x - 9.33x 9.06x 8.23x 13.1x 11.2x 11x
FCF Yield 12% - 10.7% 11% 12.2% 7.62% 8.91% 9.12%
Dividend per Share 2 4.1 4.1 4.1 4.25 4.25 4.958 5.152 5.268
Rate of return 5.65% 7.74% 6.66% 6.62% 6.02% 5.11% 5.31% 5.43%
EPS 2 6.75 5.28 5.71 6.37 7.74 8.054 7.332 7.554
Distribution rate 60.7% 77.7% 71.8% 66.7% 54.9% 61.6% 70.3% 69.7%
Net sales 1 3,204 3,137 3,204 3,497 3,417 3,673 3,675 3,760
EBITDA 1 1,667 - - 1,743 1,525 1,886 1,881 1,904
EBIT 1 1,670 1,466 1,498 1,660 1,636 1,803 1,772 1,799
Net income 1 1,369 1,074 1,165 1,305 1,592 1,645 1,481 1,521
Net Debt 1 1,170 - 1,376 662.9 -173.8 -1,344 -1,823 -2,317
Reference price 2 72.55 53.00 61.60 64.20 70.60 97.00 97.00 97.00
Nbr of stocks (in thousands) 2,02,433 2,03,604 2,03,350 2,04,461 2,03,768 2,01,581 - -
Announcement Date 09/02/22 08/02/23 07/02/24 04/02/25 03/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.88x7.92x15.19x3.75% 11TCr
18.04x14.16x25.08x0.71% 9.85TCr
24.17x - - 3.83% 3.22TCr
12.04x4.96x9.66x5.11% 2.27TCr
14.74x4.55x13.65x2.94% 1.7TCr
16.98x1.79x6.88x3.93% 1.7TCr
15.23x9.6x - 9.6% 1.44TCr
33.06x19.42x27.13x - 1.22TCr
Average 19.64x 8.92x 16.26x 4.27% 4.05TCr
Weighted average by Cap. 20.08x 9.80x 18.17x 3.13%

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