Company Valuation: Andritz

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,504 5,312 5,578 4,859 6,512 8,232 - -
Change - 17.93% 5.02% -12.89% 34.01% 26.41% - -
Enterprise Value (EV) 1 4,114 4,569 5,128 4,433 6,011 7,522 7,279 7,138
Change - 11.05% 12.23% -13.55% 35.6% 25.14% -3.24% -1.94%
P/E 13.8x 12.9x 11x 9.82x 14.4x 17.2x 14.5x 12.8x
PBR 2.86x 2.87x 2.57x 2.13x 2.66x 3.13x 2.8x 2.51x
PEG - 0.5x 0.5x -3.16x -2.11x 3.52x 0.8x 1x
Capitalization / Revenue 0.7x 0.7x 0.64x 0.58x 0.83x 1x 0.93x 0.87x
EV / Revenue 0.64x 0.61x 0.59x 0.53x 0.76x 0.91x 0.82x 0.76x
EV / EBITDA 5.73x 5.53x 5.63x 4.99x 7.3x 8.33x 7.21x 6.41x
EV / EBIT 8.58x 7.98x 7.48x 6.7x 10.3x 11.5x 9.68x 8.58x
EV / FCF 9.81x 8.68x 34.5x 11.1x 15.7x 11.3x 13.2x 11.9x
FCF Yield 10.2% 11.5% 2.9% 9% 6.37% 8.86% 7.59% 8.4%
Dividend per Share 2 1.65 2.1 2.5 2.6 2.7 2.81 3.05 3.34
Rate of return 3.64% 3.92% 4.43% 5.31% 4.04% 3.35% 3.63% 3.98%
EPS 2 3.28 4.14 5.15 4.99 4.65 4.877 5.796 6.539
Distribution rate 50.3% 50.7% 48.5% 52.1% 58.1% 57.6% 52.6% 51.1%
Net sales 1 6,463 7,543 8,660 8,314 7,883 8,248 8,853 9,453
EBITDA 1 718.3 825.5 910.2 887.9 823.4 903.1 1,010 1,113
EBIT 1 479.6 572.7 685.2 661.9 582.8 652.9 751.9 831.9
Net income 1 325.5 409.6 510.2 496.5 456.3 483 574.8 650.1
Net Debt 1 -389.8 -742.6 -450.4 -426.4 -500.8 -709.7 -953.1 -1,094
Reference price 2 45.38 53.55 56.40 48.98 66.75 84.00 84.00 84.00
Nbr of stocks (in thousands) 99,256 99,191 98,904 99,210 97,556 97,999 - -
Announcement Date 08/03/22 08/03/23 29/02/24 06/03/25 05/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
30.41x5.2x18.93x0.86% 12TCr
25.93x4.74x16.62x2.32% 3.48TCr
20.34x1.74x12.52x2.31% 2.96TCr
28.78x3.86x14.57x0.12% 2.83TCr
19.53x3.34x10.67x1.56% 2.79TCr
20.88x3.03x13.07x1.12% 2.55TCr
23.3x2.85x12.28x1.62% 2.5TCr
93.86x35.38x77.15x0.4% 2.44TCr
25.52x3.21x15.69x1.77% 2.34TCr
Average 32.06x 7.04x 21.28x 1.34% 3.76TCr
Weighted average by Cap. 31.04x 6.29x 20.14x 1.24%

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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