Company Valuation: Ipsos

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,832 2,598 2,451 1,977 1,478 1,586 - -
Change - 41.8% -5.68% -19.33% -25.22% 7.3% - -
Enterprise Value (EV) 1 2,150 2,598 2,695 2,147 1,837 1,924 1,864 1,703
Change - 20.84% 3.72% -20.34% -14.45% 4.77% -3.12% -8.64%
P/E 10.2x 12.3x 15.8x 9.85x 8.02x 7.74x 7.04x 6.59x
PBR 1.37x 1.75x 1.73x 1.25x - 0.95x 0.9x 0.82x
PEG - 0.7x -0.7x 0.3x -0.96x 0.6x 0.71x 0.96x
Capitalization / Revenue 0.85x 1.08x 1.03x 0.81x 0.59x 0.62x 0.6x 0.58x
EV / Revenue 1x 1.08x 1.13x 0.88x 0.73x 0.75x 0.71x 0.63x
EV / EBITDA 6.02x 6.45x 6.21x 5.23x 4.47x 4.87x 4.46x 3.87x
EV / EBIT 7.75x 8.26x 8.63x 6.72x 5.94x 6.18x 5.65x 4.89x
EV / FCF 7.11x 9.62x 11.9x 8.01x 8.39x 9.71x 9.54x 7.76x
FCF Yield 14.1% 10.4% 8.37% 12.5% 11.9% 10.3% 10.5% 12.9%
Dividend per Share 2 1.15 1.35 1.65 1.85 2 2.085 2.257 2.46
Rate of return 2.79% 2.31% 2.91% 4.03% 5.84% 5.62% 6.08% 6.63%
EPS 2 4.04 4.74 3.59 4.66 4.27 4.792 5.267 5.628
Distribution rate 28.5% 28.5% 46% 39.7% 46.8% 43.5% 42.9% 43.7%
Net sales 1 2,147 2,405 2,390 2,441 2,525 2,557 2,633 2,715
EBITDA 1 357.2 402.9 434.1 410.7 410.6 395 418.3 439.8
EBIT 1 277.4 314.7 312.4 319.5 309.3 311.4 329.9 348.4
Net income 1 183.9 215.2 159.7 204.5 186.6 198 218.3 234.3
Net Debt 1 317.8 - 244.3 169.8 358.3 338 278 116.9
Reference price 2 41.25 58.50 56.75 45.92 34.26 37.10 37.10 37.10
Nbr of stocks (in thousands) 44,424 44,419 43,186 43,057 43,153 42,757 - -
Announcement Date 23/02/22 15/02/23 21/02/24 26/02/25 24/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.58x1.37x6.18x4.46% 2.5TCr
8.21x0.97x5.21x4.82% 2.07TCr
12x5.27x9.33x7.32% 1.08TCr
14.7x - - 3.52% 474.51Cr
15.45x0.53x5.22x1.56% 412.98Cr
8.52x0.63x3.79x5.49% 390.58Cr
25.29x3.42x9.65x-.--% 249.91Cr
Average 13.82x 2.03x 6.56x 3.88% 1.02TCr
Weighted average by Cap. 11.76x 1.86x 6.32x 4.66%

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

-40%: Exceptional extension
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