Company Valuation: Ernst Russ AG

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 204.3 144.7 136.5 192.7 234.5 279.6 - -
Change - -29.21% -5.63% 41.16% 21.68% 19.25% - -
Enterprise Value (EV) 1 257.1 144.7 82.85 93.57 122 277.1 118 130.2
Change - -43.73% -42.72% 12.93% 30.38% 127.17% -57.41% 10.31%
P/E 12.9x 3.05x 2.45x 4.54x 3.19x 8.43x 9.47x 9.5x
PBR 2.83x - 0.8x 0.74x 0.94x 0.97x 0.85x 0.8x
PEG - 0x 0.2x -0.2x 0x -0.2x -0.9x -24.94x
Capitalization / Revenue 2.21x - 0.67x 1.12x 1.48x 1.81x 1.73x 1.7x
EV / Revenue 2.79x - 0.41x 0.54x 0.77x 1.8x 0.73x 0.79x
EV / EBITDA 6.51x - 0.71x 1.01x 0.97x 3.28x 1.67x 1.9x
EV / EBIT 8.35x - 0.96x 1.38x 1.27x 5.33x 2.98x 3.31x
EV / FCF 7.03x - - - 2.96x 6.2x 2.97x 3.06x
FCF Yield 14.2% - - - 33.8% 16.1% 33.6% 32.7%
Dividend per Share 2 - - 1 0.2 0.25 0.3167 0.3 0.3167
Rate of return - - 24.5% 3.5% 3.59% 3.82% 3.61% 3.82%
EPS 2 0.49 1.46 1.66 1.26 2.18 0.985 0.8767 0.8733
Distribution rate - - 60.2% 15.9% 11.5% 32.1% 34.2% 36.3%
Net sales 1 92.28 - 202.7 172.7 158.1 154.1 161.7 164.9
EBITDA 1 39.49 - 116.6 93 126.2 84.4 70.53 68.53
EBIT 1 30.8 - 86.6 67.7 96.4 52.03 39.57 39.33
Net income 1 15.78 47.27 55.08 42.47 73.48 33.3 29.5 29.37
Net Debt 1 52.75 - -53.66 -99.14 -112.5 -2.5 -161.6 -149.4
Reference price 2 6.300 4.460 4.075 5.720 6.960 8.300 8.300 8.300
Nbr of stocks (in thousands) 32,434 32,434 33,500 33,689 33,689 33,689 - -
Announcement Date 24/03/22 22/03/23 18/03/24 25/03/25 24/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
8.43x1.8x3.28x3.82% 32Cr
20.46x5.82x12.46x2.04% 17TCr
15.66x3.75x - 2.26% 17TCr
17.89x7.77x - 1.4% 11TCr
24.55x12.85x22.04x3.97% 8.08TCr
14.52x5.46x - 1.8% 5.34TCr
12.3x1.9x5.82x1.19% 4.95TCr
5.38x5.51x3.96x3.42% 3.75TCr
14.64x5.32x16.57x1.8% 3.41TCr
Average 14.87x 5.58x 10.69x 2.41% 7.9TCr
Weighted average by Cap. 17.28x 6.09x 13.16x 2.2%

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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