Company Valuation: Proximus SA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 5,531 2,903 2,749 1,621 2,281 2,026 - -
Change - -47.51% -5.29% -41.03% 40.73% -11.21% - -
Enterprise Value (EV) 1 8,544 5,933 6,178 5,827 6,213 6,103 6,123 6,049
Change - -30.56% 4.13% -5.68% 6.63% -1.77% 0.32% -1.2%
P/E 12.5x 6.43x 7.67x 3.62x 5.75x 6.65x 7.52x 7.23x
PBR 1.86x 0.88x 0.83x 0.38x 0.51x 0.44x 0.42x 0.4x
PEG - 2.94x -0.4x 0.1x -0.5x -0.3x -0.7x 1.84x
Capitalization / Revenue 0.99x 0.49x 0.46x 0.25x 0.36x 0.33x 0.33x 0.33x
EV / Revenue 1.53x 1x 1.02x 0.91x 0.99x 0.99x 1x 0.98x
EV / EBITDA 4.82x 3.32x 3.52x 3.15x 3.3x 3.22x 3.2x 3.13x
EV / EBIT 13.2x 9.17x 10.3x 8.43x 9.56x 11.2x 11.2x 10.6x
EV / FCF 36x 35.5x 37x 45.5x 20.8x 31.2x 26.8x 23.1x
FCF Yield 2.77% 2.81% 2.7% 2.2% 4.81% 3.2% 3.73% 4.33%
Dividend per Share 2 1.2 1.2 1.2 0.6 - 0.3 0.4 0.49
Rate of return 7% 13.3% 14.1% 11.9% - 4.79% 6.38% 7.82%
EPS 2 1.37 1.4 1.11 1.39 1.23 0.9423 0.8335 0.8664
Distribution rate 87.6% 85.7% 108% 43.2% - 31.8% 48% 56.6%
Net sales 1 5,578 5,909 6,042 6,430 6,307 6,139 6,142 6,184
EBITDA 1 1,772 1,786 1,757 1,850 1,883 1,896 1,912 1,931
EBIT 1 645 647 601 691 650 544.7 549 571.7
Net income 1 443 450 357 447 398 285.5 274.3 283.8
Net Debt 1 3,013 3,030 3,429 4,206 3,932 4,078 4,097 4,024
Reference price 2 17.140 8.996 8.510 5.025 7.075 6.265 6.265 6.265
Nbr of stocks (in thousands) 3,22,673 3,22,690 3,23,060 3,22,624 3,22,462 3,23,068 - -
Announcement Date 18/02/22 18/02/23 23/02/24 28/02/25 28/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
6.65x0.99x3.22x4.79% 234.64Cr
11.07x2.59x6.86x5.61% 21TCr
13.8x2.18x5.02x3.97% 16TCr
13.89x1.86x8x3.04% 8.93TCr
11.63x1.78x4.5x2.81% 6.93TCr
15.58x2.72x8.51x4.98% 5.9TCr
24.03x5.42x19.8x4.54% 5.72TCr
15.66x2.76x6.18x4.43% 5.07TCr
11.58x1.75x5.3x5.07% 4.78TCr
23.39x3.2x7.03x4.29% 4.01TCr
Average 14.73x 2.53x 7.44x 4.35% 7.83TCr
Weighted average by Cap. 14.23x 2.56x 7.34x 4.43%

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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  3. PROX Stock
  4. Valuation Proximus SA