Company Valuation: UCB

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 18,947 13,973 14,969 36,464 45,333 51,536 - -
Change - -26.25% 7.12% 143.6% 24.32% 13.68% - -
Enterprise Value (EV) 1 19,807 15,973 17,146 37,918 45,326 51,698 49,521 46,850
Change - -19.36% 7.34% 121.15% 19.54% 14.06% -4.21% -5.39%
P/E 17.9x 33.4x 44.8x 34.3x 29.1x 24.4x 20.8x 17.5x
PBR 2.32x 1.58x 1.67x 3.64x 4.18x 4.18x 3.62x 2.97x
PEG - -0.6x -2.2x 0x 0.6x 0.7x 1.2x 0.9x
Capitalization / Revenue 3.28x 2.53x 2.85x 5.93x 5.86x 5.79x 5.2x 4.69x
EV / Revenue 3.43x 2.9x 3.26x 6.16x 5.86x 5.8x 5x 4.27x
EV / EBITDA 12.1x 12.7x 12.7x 25.7x 17.2x 15.8x 12.9x 10.6x
EV / EBIT 15x 23.7x 26.1x 45.4x 22.6x 19.3x 15.7x 12.4x
EV / FCF 15.6x 18.4x 38.5x 41.2x 24.6x 24.9x 18.1x 14.5x
FCF Yield 6.42% 5.43% 2.6% 2.43% 4.06% 4.01% 5.53% 6.89%
Dividend per Share 2 1.3 1.33 1.36 1.39 1.45 1.457 1.502 1.534
Rate of return 1.3% 1.81% 1.72% 0.72% 0.61% 0.54% 0.56% 0.57%
EPS 2 5.6 2.2 1.76 5.61 8.2 11.08 12.97 15.44
Distribution rate 23.2% 60.5% 77.3% 24.8% 17.7% 13.1% 11.6% 9.93%
Net sales 1 5,777 5,517 5,252 6,152 7,741 8,906 9,909 10,979
EBITDA 1 1,641 1,260 1,349 1,476 2,636 3,269 3,827 4,433
EBIT 1 1,318 675 657 836 2,009 2,682 3,158 3,784
Net income 1 1,058 418 343 1,065 1,558 2,185 2,526 2,981
Net Debt 1 860 2,000 2,177 1,454 -7 161.6 -2,015 -4,687
Reference price 2 100.35 73.56 78.90 192.20 238.60 270.30 270.30 270.30
Nbr of stocks (in thousands) 1,88,812 1,89,959 1,89,721 1,89,720 1,89,996 1,90,663 - -
Announcement Date 24/02/22 22/02/23 28/02/24 27/02/25 24/02/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
25.4x5.93x16.45x0.53% 5.82TCr
37.06x13.1x27.8x0.54% 1,13500Cr
38.61x6.49x18.27x2.02% 64TCr
36.46x8.38x17.33x2.41% 50TCr
20.87x5.11x12.73x2.56% 38TCr
105.89x5.92x25.41x2.34% 36TCr
21.76x5.68x13.94x2.81% 29TCr
22.43x4.53x12.94x1.95% 27TCr
27.87x7.16x12.81x2.3% 24TCr
-45.48x6.98x27.06x2.11% 19TCr
Average 29.09x 6.93x 18.47x 1.96% 40.62TCr
Weighted average by Cap. 35.09x 8.26x 20.34x 1.79%

Y-o-Y evolution of P/E

Valuation ratios - P/E - UCB

Historical PBR trend

Valuation ratios - PBR - UCB

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - UCB

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - UCB


Year-on-year evolution of the Yield

Valuation ratios - Yield - UCB