Company Valuation: Klabin S.A.

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 28,186 21,975 24,516 28,208 23,020 24,156 - -
Change - -22.04% 11.56% 15.06% -18.39% 4.94% - -
Enterprise Value (EV) 1 49,102 43,014 44,709 60,382 48,565 49,412 48,767 47,818
Change - -12.4% 3.94% 35.06% -19.57% 1.74% -1.3% -1.95%
P/E 9.32x 4.93x 9.1x 15.4x 16.4x 14.3x 13.2x 11.8x
PBR 5.02x 2.3x 2.12x 4.24x 2.92x 2.15x 2.16x 2.06x
PEG - 0.1x -0.2x -0.5x -0.7x 0.8x 1.6x 0.9x
Capitalization / Revenue 1.71x 1.1x 1.36x 1.44x 1.11x 1.14x 1.09x 1.04x
EV / Revenue 2.98x 2.15x 2.48x 3.07x 2.35x 2.32x 2.19x 2.06x
EV / EBITDA 7.15x 5.53x 7.14x 8.23x 6.19x 6.4x 5.99x 5.67x
EV / EBIT 8.96x 6.47x 10.6x 13.4x 10.8x 13x 10.7x 9.75x
EV / FCF 48.4x -42.3x 14.2x 15.6x 13.6x 15.8x 11.5x 9.96x
FCF Yield 2.06% -2.37% 7.06% 6.42% 7.34% 6.34% 8.66% 10%
Dividend per Share 2 0.126 1.2 1.093 1.271 - 1.039 1.156 1.266
Rate of return 0.55% 6.68% 5.47% 5.53% - 5.35% 5.96% 6.53%
EPS 2 2.477 3.649 2.199 1.49 1.143 1.354 1.466 1.651
Distribution rate 5.09% 32.9% 49.7% 85.3% - 76.7% 78.8% 76.7%
Net sales 1 16,481 20,033 18,024 19,645 20,698 21,267 22,256 23,164
EBITDA 1 6,865 7,784 6,259 7,333 7,848 7,724 8,146 8,440
EBIT 1 5,481 6,647 4,235 4,497 4,480 3,806 4,570 4,905
Net income 1 3,020 4,692 2,695 1,831 1,678 1,534 1,743 2,033
Net Debt 1 20,916 21,038 20,193 32,174 25,545 25,255 24,611 23,662
Reference price 2 23.10 17.97 20.00 22.97 18.76 19.40 19.40 19.40
Nbr of stocks (in thousands) 12,20,375 12,22,560 12,25,805 12,28,028 12,27,086 12,30,579 - -
Announcement Date 10/02/22 08/02/23 07/02/24 26/02/25 11/02/26 - - -
1BRL in Million2BRL
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.24x1.76x10.97x5.86% 1.59TCr
6.35x2.31x5.58x3.61% 1.12TCr
21.75x2.45x12.12x2.87% 495.9Cr
20.55x0.86x10.97x4.13% 477.82Cr
14.33x2.31x6.36x5.35% 464.26Cr
16.75x1.81x8.17x5.72% 265.4Cr
17.83x1.01x6.56x1.62% 254.21Cr
11.09x - - 5.5% 199.42Cr
5.78x0.85x4.23x2.78% 190.78Cr
Average 14.74x 1.67x 8.12x 4.16% 561.97Cr
Weighted average by Cap. 14.96x 1.85x 8.75x 4.5%

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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