Company Valuation: EssilorLuxottica

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 82,608 75,236 81,962 1,07,377 1,24,976 70,295 - -
Change - -8.92% 8.94% 31.01% 16.39% -43.75% - -
Enterprise Value (EV) 1 92,306 82,299 87,821 1,18,347 1,35,826 80,128 79,123 77,863
Change - -10.84% 6.71% 34.76% 14.77% -41.01% -1.25% -1.59%
P/E 57.1x 35x 35.7x 45.9x 54.2x 27.1x 23.9x 20.8x
PBR 2.34x 2.01x 2.1x 2.68x 3.22x 1.75x 1.69x 1.64x
PEG - 0.7x 6.9x 46.63x -18.54x 2x 1.8x 1.4x
Capitalization / Revenue 4.17x 3.07x 3.23x 4.05x 4.39x 2.32x 2.13x 1.97x
EV / Revenue 4.66x 3.36x 3.46x 4.46x 4.77x 2.64x 2.4x 2.18x
EV / EBITDA 16.8x 11.6x 12.3x 15.8x 20.9x 10.7x 9.81x 8.87x
EV / EBIT 30.5x 20x 21x 26.8x 30.5x 16.6x 14.9x 13.2x
EV / FCF 33.1x 36.4x 26.4x 49.3x 48.6x 20.8x 19.3x 17.2x
FCF Yield 3.02% 2.75% 3.79% 2.03% 2.06% 4.81% 5.17% 5.81%
Dividend per Share 2 2.51 3.23 3.95 3.95 4 4.102 4.528 4.995
Rate of return 1.34% 1.91% 2.18% 1.68% 1.48% 2.68% 2.96% 3.27%
EPS 2 3.28 4.83 5.08 5.13 4.98 5.652 6.412 7.366
Distribution rate 76.5% 66.9% 77.8% 77% 80.3% 72.6% 70.6% 67.8%
Net sales 1 19,820 24,494 25,395 26,508 28,491 30,327 33,026 35,765
EBITDA 1 5,488 7,085 7,150 7,512 6,492 7,493 8,065 8,777
EBIT 1 3,027 4,115 4,178 4,414 4,459 4,832 5,305 5,881
Net income 1 1,463 2,152 2,289 2,359 2,315 2,717 3,065 3,537
Net Debt 1 9,698 7,063 5,859 10,970 10,850 9,833 8,828 7,568
Reference price 2 187.24 169.20 181.60 235.60 269.90 152.95 152.95 152.95
Nbr of stocks (in thousands) 4,41,185 4,44,659 4,51,334 4,55,759 4,63,045 4,59,592 - -
Announcement Date 11/03/22 23/02/23 14/02/24 12/02/25 11/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
27.06x2.64x10.69x2.68% 8.17TCr
43.01x3.36x12.49x0.51% 3.47TCr
34.17x3.69x11.83x-.--% 1.38TCr
130.76x9.96x47.77x-.--% 1.24TCr
25.92x6.54x18.72x1.07% 259.57Cr
22x4.23x12.09x1.59% 145.09Cr
-11.43x - - - 97Cr
14.45x2.98x7.66x2.96% 92Cr
20.38x1.4x8.1x1.53% 91Cr
Average 34.03x 4.35x 16.17x 1.29% 1.66TCr
Weighted average by Cap. 39.57x 3.60x 14.43x 1.66%

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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