Company Valuation: Icade

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 4,776 3,044 2,693 1,741 1,668 1,148 - -
Change - -36.26% -11.54% -35.33% -4.21% -31.16% - -
Enterprise Value (EV) 1 11,709 9,921 6,141 5,195 5,114 4,200 3,973 3,665
Change - -15.28% -38.1% -15.41% -1.55% -17.87% -5.42% -7.74%
P/E 11.8x 56.4x -2.15x -6.31x -13.6x -8.75x 12.1x 5.27x
PBR 0.71x 0.46x 0.54x 0.4x 0.43x 0.32x 0.31x 0.3x
PEG - -0.7x 0x 0.1x 0.2x -1.28x -0x 0x
Capitalization / Revenue 2.88x 1.68x 1.76x 1.11x 1.15x 0.89x 0.86x 0.83x
EV / Revenue 7.05x 5.46x 4.02x 3.3x 3.53x 3.25x 2.97x 2.64x
EV / EBITDA 18.7x 15.3x 21.7x 21.7x 17.5x 15.6x 15.3x 13.7x
EV / EBIT 14.6x 25.9x 22.7x 18.7x 17.4x 14.1x 13.3x 12.5x
EV / FCF -23.5x -42.4x 4.66x 31.3x 21.6x 6.3x 7.96x 6.41x
FCF Yield -4.25% -2.36% 21.5% 3.2% 4.63% 15.9% 12.6% 15.6%
Dividend per Share 2 4.2 4.33 4.84 4.31 1.92 1.766 1.838 1.936
Rate of return 6.66% 10.8% 13.6% 18.8% 8.73% 11.7% 12.1% 12.8%
EPS 2 5.328 0.7136 -16.5 -3.64 -1.62 -1.731 1.256 2.876
Distribution rate 78.8% 607% -29.3% -118% -119% -102% 146% 67.3%
Net sales 1 1,661 1,816 1,528 1,572 1,450 1,292 1,338 1,388
EBITDA 1 625.5 650.3 283 239 292.5 268.4 259.7 267.3
EBIT 1 800.6 382.5 270.1 277.5 294.6 297.9 299.5 293
Net income 1 400.1 54.1 -1,250 -275.9 -123 -76.37 114.3 172.2
Net Debt 1 6,933 6,876 3,448 3,454 3,446 3,052 2,824 2,517
Reference price 2 63.10 40.24 35.54 22.98 22.00 15.15 15.15 15.15
Nbr of stocks (in thousands) 75,691 75,652 75,770 75,778 75,825 75,797 - -
Announcement Date 21/02/22 20/02/23 19/02/24 18/02/25 17/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-9.23x3.3x15.88x11.06% 137.46Cr
21.33x12.73x14.9x5.8% 1.47TCr
7.73x13.33x17.22x6.73% 614.12Cr
11.94x14.4x15.35x5.34% 608.78Cr
19.6x12.81x14.4x4.92% 558.2Cr
9.6x14.38x15.37x7.22% 556.95Cr
8.07x13.5x17.21x6.13% 542.11Cr
8.91x15.96x19.24x9% 523.54Cr
12.69x11.39x13.05x5.45% 507.64Cr
Average 10.07x 12.42x 15.85x 6.85% 613.46Cr
Weighted average by Cap. 13.39x 13.18x 15.70x 6.34%

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