Company Valuation: Aspo Oyj

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 355.1 257.1 187.8 152.4 204.2 218.1 - -
Change - -27.59% -26.97% -18.86% 33.98% 6.84% - -
Enterprise Value (EV) 1 522.5 412.8 353 340.4 417 354.2 389.4 367.1
Change - -20.99% -14.49% -3.57% 22.5% -15.06% 9.93% -5.72%
P/E 14.9x 13.4x 135x 34.6x 9.06x 6.5x 10.8x 9.04x
PBR 2.74x 1.79x 1.34x 0.95x 1.42x 1.29x 1.25x 1.17x
PEG - -0.7x -1.5x 0x 0x 0.1x -0.3x 0.5x
Capitalization / Revenue 0.61x 0.4x 0.35x 0.26x 0.44x 0.44x 0.44x 0.42x
EV / Revenue 0.89x 0.64x 0.66x 0.57x 0.89x 0.72x 0.78x 0.71x
EV / EBITDA 6.79x 4.49x 5.88x 5.01x 6.69x 5.79x 5.73x 5.07x
EV / EBIT 12.3x 7.47x 13.3x 11.7x 12.7x 10.3x 10.7x 8.97x
EV / FCF 19x 12x 12.9x -9.43x 28.6x 17.9x 40.3x 13x
FCF Yield 5.26% 8.33% 7.73% -10.6% 3.5% 5.59% 2.48% 7.68%
Dividend per Share 2 0.23 0.46 0.47 0.19 0.25 0.265 0.3167 0.3567
Rate of return 2.02% 5.61% 7.86% 3.92% 3.83% 3.81% 4.55% 5.12%
EPS 2 0.76 0.61 0.0444 0.14 0.72 1.07 0.6467 0.77
Distribution rate 30.3% 75.4% 1,059% 136% 34.7% 24.8% 49% 46.3%
Net sales 1 586.4 643.4 536.4 592.6 469.1 491.1 498.8 520.1
EBITDA 1 76.9 91.9 60 68 62.3 61.13 67.97 72.33
EBIT 1 42.4 55.3 26.5 29.1 32.8 34.43 36.47 40.9
Net income 1 25.3 20.7 1.6 7.3 23.5 33.65 20.37 25.43
Net Debt 1 167.4 155.7 165.2 188 212.8 136 171.2 149
Reference price 2 11.360 8.200 5.980 4.850 6.520 6.960 6.960 6.960
Nbr of stocks (in thousands) 31,258 31,358 31,404 31,418 31,312 31,339 - -
Announcement Date 16/02/22 15/02/23 16/02/24 17/02/25 16/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.5x0.72x5.79x3.81% 25Cr
8x0.75x3.59x4.76% 5.15TCr
7.41x0.6x2.46x7.37% 3.59TCr
33.22x1.37x7.43x1.79% 2.79TCr
9.93x4.29x8x3.96% 2.43TCr
10.7x1.43x10.38x4.12% 1.83TCr
12.39x4.15x10.42x6.62% 1.65TCr
6.5x1.2x3.64x7.09% 1.63TCr
8.81x2.1x13.69x2.87% 1.55TCr
10.91x0.87x3.78x3.07% 1.51TCr
Average 11.44x 1.75x 6.92x 4.55% 2.22TCr
Weighted average by Cap. 11.99x 1.64x 6.17x 4.73%

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