Company Valuation: Cosumar

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 24,661 17,953 18,425 17,953 19,228 16,781 - -
Change - -27.2% 2.63% -2.56% 7.11% -12.73% - -
Enterprise Value (EV) 1 25,064 19,022 19,984 18,577 19,510 17,110 17,095 16,781
Change - -24.11% 5.06% -7.04% 5.02% -12.3% -0.08% -1.84%
P/E 32.3x - - 19.2x - 19.2x 16.2x 16.8x
PBR - - - - - - - -
PEG - - - - - - 0.9x -5.48x
Capitalization / Revenue 2.71x 1.72x 1.8x 1.75x 1.83x 1.54x 1.36x 1.4x
EV / Revenue 2.75x 1.82x 1.95x 1.81x 1.86x 1.57x 1.39x 1.4x
EV / EBITDA 13.1x 11.1x 10.9x 10.6x 11.7x 10.1x 8.66x -
EV / EBIT 17.8x 14.7x 14.5x 13.9x 15x 12.8x 10.9x -
EV / FCF 13.9x -563x 86.5x 9.84x 14.9x 19.1x 17.1x -
FCF Yield 7.2% -0.18% 1.16% 10.2% 6.7% 5.25% 5.84% -
Dividend per Share 2 6 7 7 10 - 10 10 11
Rate of return 2.3% 3.68% 3.59% 5.26% - 5.63% 5.63% 6.19%
EPS 2 8.075 - - 9.92 - 9.27 10.94 10.6
Distribution rate 74.3% - - 101% - 108% 91.4% 104%
Net sales 1 9,112 10,433 10,233 10,239 10,487 10,907 12,340 12,002
EBITDA 1 1,918 1,721 1,826 1,749 1,672 1,699 1,974 -
EBIT 1 1,408 1,294 1,375 1,341 1,298 1,339 1,570 -
Net income 1 763 826 1,009 850.4 703.7 876 1,034 1,002
Net Debt 1 403 1,070 1,559 624.8 281.9 329 314.5 -
Reference price 2 261.00 190.00 195.00 190.00 203.50 177.60 177.60 177.60
Nbr of stocks (in thousands) 94,487 94,487 94,487 94,487 94,487 94,487 - -
Announcement Date 30/04/22 16/03/23 29/04/24 30/04/25 30/04/26 - - -
1MAD in Million2MAD
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
19.98x2.74x13.68x4.13% 23TCr
17.99x2.35x14.02x3.56% 7.38TCr
15.61x1.66x9.42x4.01% 4.29TCr
14.7x0.53x9.46x2.63% 3.83TCr
19.08x2.93x11.9x3.66% 3.17TCr
34.99x3.03x17.65x1.06% 3.1TCr
25.03x5.24x16.72x3.35% 2.84TCr
-8.01x1.78x8.89x7.06% 2.69TCr
60.78x9.32x38.65x1.25% 2.64TCr
Average 22.24x 3.29x 15.60x 3.41% 5.93TCr
Weighted average by Cap. 20.67x 2.88x 14.36x 3.69%

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