Company Valuation: Bechtle AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 7,930 4,166 5,719 3,919 5,504 4,334 - -
Change - -47.47% 37.3% -31.48% 40.45% -21.25% - -
Enterprise Value (EV) 1 7,844 4,309 5,794 3,861 5,598 4,352 4,192 3,971
Change - -45.06% 34.45% -33.36% 44.98% -22.24% -3.7% -5.26%
P/E 34.2x 16.6x 21.5x 15.9x 24x 17.4x 15.9x 14.5x
PBR 5.86x 2.71x 3.28x 2.05x 2.68x 1.97x 1.82x 1.68x
PEG - 2.04x 3.57x -2.1x -3.6x 2.02x 1.64x 1.55x
Capitalization / Revenue 1.27x 0.69x 0.89x 0.62x 0.86x 0.62x 0.59x 0.56x
EV / Revenue 1.26x 0.71x 0.9x 0.61x 0.87x 0.63x 0.57x 0.51x
EV / EBITDA 18.3x 9.22x 11.4x 7.85x 11.3x 8.14x 7.27x 6.41x
EV / EBIT 24.1x 12.1x 15.2x 11x 16.7x 11.9x 10.5x 9.11x
EV / FCF 44.3x 69.1x 15.5x 8.22x 33.2x 21.6x 16.2x 14x
FCF Yield 2.26% 1.45% 6.47% 12.2% 3.01% 4.62% 6.17% 7.15%
Dividend per Share 2 0.55 0.65 0.7 0.7 0.7 0.741 0.793 0.83
Rate of return 0.87% 1.97% 1.54% 2.25% 1.6% 2.15% 2.31% 2.41%
EPS 2 1.84 1.99 2.11 1.95 1.82 1.977 2.168 2.371
Distribution rate 29.9% 32.7% 33.2% 35.9% 38.5% 37.5% 36.6% 35%
Net sales 1 6,246 6,028 6,423 6,306 6,406 6,936 7,376 7,807
EBITDA 1 428.7 467.5 508.9 491.6 494.6 534.5 576.7 619.8
EBIT 1 325.7 355.4 382.3 351.3 335.3 364.5 400.8 435.9
Net income 1 231.4 251.1 265.5 245.5 229.2 248.6 272.4 296
Net Debt 1 -86.27 143.7 74.76 -57.66 93.86 18.09 -142.7 -363.1
Reference price 2 62.94 33.06 45.39 31.10 43.68 34.40 34.40 34.40
Nbr of stocks (in thousands) 1,26,000 1,26,000 1,26,000 1,26,000 1,26,000 1,26,000 - -
Announcement Date 18/03/22 17/03/23 15/03/24 13/03/25 19/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
17.44x0.63x8.16x2.15% 493.35Cr
21.6x3.56x12.43x3.08% 21TCr
21.99x4.64x11.38x0.76% 19TCr
-599.1x42.61x175.06x-.--% 12TCr
-133.59x18.57x102.82x-.--% 12TCr
13.62x1.52x7.99x3.52% 11TCr
13.27x2.4x9.06x6.19% 7.74TCr
19.25x5.15x12.66x2.92% 5.76TCr
-17.04x7.34x12.48x-.--% 4.8TCr
22.15x1.83x11.6x1.4% 4.37TCr
Average -62.04x 8.82x 36.36x 2% 9.83TCr
Weighted average by Cap. -78.85x 10.37x 42.86x 1.93%

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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