Projected Income Statement: Ipsos

Forecast Balance Sheet: Ipsos

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 318 - 244 170 358 373 284 127
Change - - - -30.33% 110.59% 4.1% -23.86% -55.28%
Announcement Date 23/02/22 15/02/23 21/02/24 26/02/25 24/02/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: Ipsos

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 43.51 54.82 58.54 70.34 83.09 86.52 88.6 90.19
Change - 26% 6.77% 20.16% 18.13% 4.13% 2.4% 1.8%
Free Cash Flow (FCF) 1 302.5 270.2 225.6 268.1 218.9 180.2 195.8 220.1
Change - -10.66% -16.5% 18.8% -18.32% -17.71% 8.68% 12.43%
Announcement Date 23/02/22 15/02/23 21/02/24 26/02/25 24/02/26 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: Ipsos

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 16.64% 16.75% 18.16% 16.83% 16.26% 15.44% 15.9% 16.21%
EBIT Margin (%) 12.92% 13.08% 13.07% 13.09% 12.25% 11.97% 12.43% 12.73%
EBT Margin (%) 11.65% 12.2% 9.98% 11.61% 10.09% 10.27% 11.59% 11.94%
Net margin (%) 8.57% 8.95% 6.68% 8.38% 7.39% 7.61% 8.25% 8.56%
FCF margin (%) 14.09% 11.23% 9.44% 10.98% 8.67% 7.03% 7.42% 8.09%
FCF / Net Income (%) 164.45% 125.59% 141.27% 131.07% 117.37% 92.39% 89.95% 94.48%

Profitability

        
ROA - - - - - - - -
ROE 15.09% 15.29% 15.78% 16.3% 15.29% 13.64% 13.83% 13.73%

Financial Health

        
Leverage (Debt/EBITDA) 0.89x - 0.56x 0.41x 0.87x 0.94x 0.68x 0.29x
Debt / Free cash flow 1.05x - 1.08x 0.63x 1.64x 2.07x 1.45x 0.58x

Capital Intensity

        
CAPEX / Current Assets (%) 2.03% 2.28% 2.45% 2.88% 3.29% 3.38% 3.36% 3.31%
CAPEX / EBITDA (%) 12.18% 13.61% 13.49% 17.13% 20.24% 21.88% 21.12% 20.45%
CAPEX / FCF (%) 14.39% 20.29% 25.94% 26.24% 37.95% 48.02% 45.25% 40.97%

Items per share

        
Cash flow per share 1 7.592 7.162 6.387 7.711 - 6.55 7.431 7.869
Change - -5.65% -10.82% 20.72% - - 13.45% 5.9%
Dividend per Share 1 1.15 1.35 1.65 1.85 2 2.14 2.318 2.472
Change - 17.39% 22.22% 12.12% 8.11% 6.98% 8.35% 6.64%
Book Value Per Share 1 30.02 33.48 32.79 36.62 - 40.52 41.48 45.58
Change - 11.51% -2.04% 11.66% - - 2.36% 9.89%
EPS 1 4.04 4.74 3.59 4.66 4.27 4.767 5.197 5.543
Change - 17.33% -24.26% 29.81% -8.37% 11.64% 9.01% 6.66%
Nbr of stocks (in thousands) 44,424 44,419 43,186 43,057 43,153 42,757 42,757 42,757
Announcement Date 23/02/22 15/02/23 21/02/24 26/02/25 24/02/26 - - -
1EUR
Estimates
2026 *2027 *
P/E 8.41x 7.72x
PBR 0.99x 0.97x
EV / Sales 0.81x 0.76x
Yield 5.34% 5.78%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
7
Last Close Price
40.10EUR
Average target price
54.86EUR
Spread / Average Target
+36.80%

Quarterly revenue - Rate of surprise