Company Valuation: Formula One Group

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Market Cap 1 9,757 14,502 13,796 14,667 22,812 25,024 25,024 -
Change - 48.64% -4.87% 6.31% 55.53% 9.7% 0% -
Enterprise Value (EV) 1 11,832 16,059 15,010 16,165 23,173 28,351 28,318 27,642
Change - 35.73% -6.53% 7.7% 43.35% 22.35% -1.47% -2.39%
P/E -16.6x -77.1x 27.8x 102x -713x 45.4x 57.8x 46.2x
PBR 1.51x 2.32x 2.02x 2.31x 3.13x 3.18x 2.96x 2.81x
PEG - 1.1x -0x -1.4x 6x -0x -2.7x 1.8x
Capitalization / Revenue 8.52x 6.79x 5.36x 4.55x 6.24x 5.42x 5.32x 4.77x
EV / Revenue 10.3x 7.52x 5.83x 5.02x 6.34x 6.33x 6.02x 5.26x
EV / EBITDA 657x 34.5x 27.2x 23.6x 29.9x 26.5x 23.2x 19.7x
EV / EBIT -26.6x 401x 86.8x 54.4x 80.7x 49.1x 37x 29.2x
EV / FCF -73.9x 34.6x 61.8x 83.8x 47.1x 35.9x 28.1x 25.5x
FCF Yield -1.35% 2.89% 1.62% 1.19% 2.12% 2.78% 3.55% 3.92%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -2.57 -0.82 2.15 0.62 -0.13 2.17 1.746 2.185
Distribution rate - - - - - - - -
Net sales 1 1,145 2,136 2,573 3,222 3,653 4,482 4,706 5,251
EBITDA 1 18 466 551 686 774 1,068 1,219 1,401
EBIT 1 -444 40 173 297 287 577 765.1 945.5
Net income 1 -596 -190 558 185 -30 555 474.6 579.2
Net Debt 1 2,075 1,557 1,214 1,498 361 4,045 3,293 2,618
Reference price 2 42.60 63.24 59.78 63.13 92.66 100.87 100.87 100.87
Nbr of stocks (in thousands) 2,31,780 2,31,103 2,33,822 2,34,567 2,48,704 2,50,606 2,50,606 -
Announcement Date 26/02/21 25/02/22 01/03/23 28/02/24 27/02/25 26/02/26 - -
1USD in Million2USD
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
45.51x6.47x27.8x-.--% 2.5TCr
16.35x2.01x9.14x1.57% 17TCr
18.99x2.08x20.47x1.56% 608.14Cr
40.63x - - 2.2% 383.2Cr
10.38x0.87x5.47x6.97% 360.03Cr
-6.36x2.04x7.58x-.--% 359.3Cr
15.61x1.73x18.59x4.79% 367.39Cr
13.01x0.58x4.65x1.25% 313.99Cr
7.81x0.72x3.23x5.99% 247.07Cr
Average 17.99x 2.06x 12.12x 2.7% 2.42TCr
Weighted average by Cap. 19.57x 2.47x 11.58x 1.56%

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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