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 2,011 - -
Change - -47.51% -5.29% -41.03% 40.73% -11.85% - -
Enterprise Value (EV) 1 8,544 5,933 6,178 5,827 6,213 6,014 6,148 6,068
Change - -30.56% 4.13% -5.68% 6.63% -3.22% 2.24% -1.31%
P/E 12.5x 6.43x 7.67x 3.62x 5.75x 5.91x 6.9x 6.64x
PBR 1.86x 0.88x 0.83x 0.38x 0.51x 0.43x 0.41x 0.4x
PEG - 2.94x -0.4x 0.1x -0.5x -0.4x -0.5x 1.71x
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 0.98x 1x 0.98x
EV / EBITDA 4.82x 3.32x 3.52x 3.15x 3.3x 3.18x 3.22x 3.14x
EV / EBIT 13.2x 9.17x 10.3x 8.43x 9.56x 11.3x 10.7x 10.1x
EV / FCF 36x 35.5x 37x 45.5x 20.8x 30.8x 32.5x 27.5x
FCF Yield 2.77% 2.81% 2.7% 2.2% 4.81% 3.25% 3.08% 3.64%
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% - 4.82% 6.43% 7.87%
EPS 2 1.37 1.4 1.11 1.39 1.23 1.053 0.9019 0.937
Distribution rate 87.6% 85.7% 108% 43.2% - 28.5% 44.4% 52.3%
Net sales 1 5,578 5,909 6,042 6,430 6,307 6,142 6,137 6,178
EBITDA 1 1,772 1,786 1,757 1,850 1,883 1,891 1,911 1,930
EBIT 1 645 647 601 691 650 533 576.6 601.6
Net income 1 443 450 357 447 398 311.5 302.6 312.9
Net Debt 1 3,013 3,030 3,429 4,206 3,932 4,002 4,137 4,057
Reference price 2 17.140 8.996 8.510 5.025 7.075 6.225 6.225 6.225
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.($)
5.91x0.98x3.18x4.82% 232.07Cr
11.41x1.35x4.18x6.78% 23TCr
10.41x2.5x6.62x5.97% 20TCr
13.78x2.17x5.62x3.95% 16TCr
12.74x1.8x7.71x3.32% 8.17TCr
11.77x0.89x3.33x6.67% 8.08TCr
11.51x1.86x4.71x2.76% 7.01TCr
15.14x2.65x8.28x5.07% 5.78TCr
23.2x5.22x18.54x4.64% 5.5TCr
12.39x1.77x5.4x4.89% 4.95TCr
Average 12.83x 2.12x 6.76x 4.89% 9.81TCr
Weighted average by Cap. 12.66x 2.06x 6.27x 5.26%

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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