Company Valuation: Mersen

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 766.3 778 851.6 501.8 580.7 906.1 - -
Change - 1.52% 9.47% -41.08% 15.72% 56.04% - -
Enterprise Value (EV) 1 1,012 1,074 1,064 872.1 963.2 1,314 1,279 1,235
Change - 6.12% -0.91% -18.05% 10.44% 36.45% -2.66% -3.42%
P/E 14.3x 11.8x 10.3x 8.69x 41.8x 13.8x 11.2x 9.4x
PBR 1.28x 1.19x 1.08x 0.61x 0.74x 1.1x 1.04x 0.96x
PEG - 0.5x 1.57x -0.3x -0.6x 0x 0.5x 0.5x
Capitalization / Revenue 0.83x 0.7x 0.7x 0.4x 0.49x 0.73x 0.68x 0.63x
EV / Revenue 1.1x 0.96x 0.88x 0.7x 0.81x 1.06x 0.96x 0.86x
EV / EBITDA 6.8x 5.76x 5.25x 4.24x 5.06x 6.51x 5.6x 4.85x
EV / EBIT 10.9x 8.83x 7.75x 6.65x 8.83x 11.3x 9.39x 7.95x
EV / FCF 42x 129x 355x -84.7x 161x 39.6x 20x 15.9x
FCF Yield 2.38% 0.77% 0.28% -1.18% 0.62% 2.52% 5.01% 6.28%
Dividend per Share 2 1 1.25 1.25 0.9 0.9 0.94 1.144 1.364
Rate of return 2.71% 3.31% 3.55% 4.37% 3.77% 2.52% 3.07% 3.66%
EPS 2 2.58 3.21 3.42 2.37 0.57 2.705 3.339 3.968
Distribution rate 38.8% 38.9% 36.5% 38% 158% 34.7% 34.3% 34.4%
Net sales 1 922.8 1,115 1,211 1,244 1,186 1,236 1,329 1,440
EBITDA 1 148.8 186.4 202.7 205.5 190.4 201.8 228.5 254.7
EBIT 1 92.6 121.6 137.3 131.1 109.1 116 136.2 155.4
Net income 1 54.4 67.7 81.6 59 14.1 64.25 77.62 92.25
Net Debt 1 245.7 296 212.5 370.3 382.5 408.2 373.2 329.4
Reference price 2 36.90 37.75 35.20 20.60 23.85 37.28 37.28 37.28
Nbr of stocks (in thousands) 20,768 20,608 24,194 24,360 24,347 24,304 - -
Announcement Date 16/03/22 14/03/23 12/03/24 13/03/25 31/03/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.87x2.5x11.23x2.71% 27TCr
26.06x3.06x16.68x2.01% 25TCr
31.33x4.02x18.54x1.56% 19TCr
37.8x5.52x23.56x1.02% 16TCr
42.6x5.72x25.49x1% 14TCr
43.36x7.13x28.73x0.1% 10TCr
91.2x11.63x64.73x0.35% 9.85TCr
32.18x5.2x18.06x1.4% 8.77TCr
30.48x5.37x19.99x1.28% 5.5TCr
Average 39.32x 5.57x 25.22x 1.27% 15.19TCr
Weighted average by Cap. 35.04x 4.80x 22.17x 1.53%

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